IR announcements

Increase in total revenues to EUR 165 million (+5%)

        EBITDA EUR 12.7 million (+19%),
        EBIT EUR 9.4 million (+20%) increase over the previous year

        Order books valued at EUR 1,523 million on March 31, 2017

        Bremen, May 10, 2017. 

        The OHB Group’s total revenues (Prime Standard, ISIN: DE0005936124) came to EUR 165.3 million, increasing over the same period of the previous year by 5% (previous year: EUR 157.4 million).

        Own manufacturing input increased significantly whereas the cost of materials declined to EUR 88.8 million (previous year: EUR 92.4 million) in the reporting period. Based on the increasing productivity operating earnings (EBITDA) rose to EUR 12.7 million (previous year: EUR 10.7 million). At 7.7% in the first three months of 2017, the operating EBITDA margin was up on the comparable prior-year period (6.8%). Despite the slightly higher depreciation and amortisation expense of EUR 3.3 million in the period under review (previous year: EUR 2.8 million), EBIT climbed to EUR 9.4 million, up from EUR 7.8 million in the previous year. As a result, the EBIT margin widened from 5.0% in the previous year to 5.7%. Profit from ordinary business activities at the end of the first three months of 2017 rose to EUR 8.7 million (previous year: EUR 7.1 million). With income tax rising correspondingly to EUR 2.7 million in the first three months of 2017 (previous year: EUR 2.2 million), the OHB Group recorded higher consolidated net profit for the period of EUR 6.1 million (previous year: EUR 4.8 million).

        At EUR 113.8 million, non-consolidated total revenues in the Space Systems business unit fell slightly short of the first three months of the previous year (EUR 118.6 million). Based on increasing productivity and higher own manufacturing input operating earnings (EBITDA) rose to EUR 8.6 million, up from EUR 8.0 million in the previous year. Segment EBIT climbed by EUR 0.4 million or just under 7% to EUR 6.6 million (previous year: EUR 6.2 million). The EBIT margin relative to non-consolidated total revenues also widened to 5.8%, up from 5.2% in the previous year. The EBIT margin relative to the segment’s own manufacturing input, which rose by just under 11%, came to 10.1% up from 10.5% in the same period of the previous year.

        In the first three months of 2017, non-consolidated total revenues in the Aerospace + Industrial Products business unit climbed by 40% over the year-ago period to EUR 55.2 million (previous year: EUR 39.4 million). The cost of materials and services purchased rose by just under 55% from EUR 18.8 million in the year-ago period to EUR 29.1 million in the period under review. Despite this, operating earnings (EBITDA) increased by roughly 52% to EUR 4.3 million, up from EUR 2.8 million in the previous year. The likewise higher segment EBIT of EUR 3.0 million (previous year: EUR 1.8 million) reflects only slightly higher depreciation and amortization expense. The EBIT margin relative to non-consolidated total revenues widened to 5.4%, up from 4.6% in the previous year. The EBIT margin relative to the segment’s own manufacturing input, which rose substantially by around 47%, also widened to 5.6%, up from 5.0% in the previous year. 
        The firm orders held by the Group at the end of the first three months of 2017 were valued at EUR 1,523 million, down from EUR 1,744 million in the previous year. Of this, OHB System AG accounted for EUR 1,030 million or just under 68%.

        At EUR 56.1 million at the end of the period under review, cash and cash equivalents (net of securities) were again substantially up on the end of the same period in the previous year (EUR 42.8 million). The OHB Group’s total assets increased by EUR 27.3 million or around 4% over the end of the previous year to EUR 710.2 million as of March 31, 2017 (December 31, 2016: EUR 682.9 million). Consolidated equity expanded by EUR 8.9 million to EUR 192.5 million. At 27.1% as of March 31, 2017, the equity ratio was thus slightly up on the figure of 26.9% reported as of December 31, 2016.

        The Management Board expects consolidated total revenues of EUR 800 million for 2017, accompanied by EBITDA of EUR 60 million and EBIT of 44 million. Given the greater order backlog and upbeat outlook for the current year, the Management Board assumes that the Group’s net assets and financial condition will also remain strong.

        Key performance indicators at a glance (EUR 000s) Q1 / 2016 Q1 / 2017 +/- Q1 2017/16
        Sales 145.296 147.006 + 1,2 %
        Total revenues 157.369 165.319 + 5,1 %
        EBITDA 10.676 12.727 + 19,2 %
        EBIT 7.829 9.416 + 20,3 %
        EBT 7.069 8.708 + 23,2 %
        Net profit for the period 4.841 6.050 + 25,0 %
        EPS in EUR 0,26 0,31 + 19,2 %
        Cash and cash equivalents including securities 44.802 57.140 +27,5 %
        Contact

        OHB SE
        Investor Relations
        Manfred-Fuchs-Platz 2-4
        28359 Bremen/Germany
        Phone +49 (0) 421-2020 720
        Fax +49 (0) 421-2020 613
        Email ir@ohb.de

        Contact for investors and analysts: 

        Martina Lilienthal
        Phone: +49 421 - 2020-720
        Fax: +49 421 - 2020-613
        Email: ir@ohb.de