IR-announcements

OHB SE's 3-month results for 2021 in line with expectations:

  • Total revenues reaches EUR 190 million (+3%),
  • EBITDA rises to EUR 20.2 million (+5%), EBIT reaches EUR 11.4 million (+3%),
  • New DIGITAL segment with significant revenue and earnings contribution and an EBIT margin of 18%
  • Order book remains at a high level of EUR 2.5 billion

 

Bremen, May 11, 2021. The OHB Group's total revenues (Prime Standard, ISIN: DE0005936124) reached EUR 190.1 million after three months, up on the previous year (EUR 184.2 million). The operating result (EBITDA) improved to EUR 20.2 million compared to the previous year (EUR 19.3 million). The operating EBITDA margin thus rose to 10.7% in the reporting period, compared to 10.5% in the same period of the previous year. EBIT rose slightly to EUR 11.4 million in the first three months of the current financial year, compared to EUR 11.1 million in the previous year. The corresponding EBIT margin of 6.0 % remained exactly at the same level as in the same period of the previous year.

The financial result of EUR -0.7 million improved compared to the same period of the previous year, partly due to currency gains (previous year: EUR -1.3 million). Earnings before taxes (EBT) increased by 10% to EUR 10.7 million after the first three months of 2021 (previous year: EUR 9.8 million). Income taxes of EUR 3.8 million (previous year: EUR 3.3 million) resulted in a consolidated profit for the period of EUR 7.0 million in the current reporting period, which was 7% better than in the previous year (EUR 6.5 million).

At EUR 151.7 million, the unconsolidated total revenues of the SPACE SYSTEMS segment were above the level of the first three months of the previous year (EUR 140.2 million). The increased total revenues nevertheless resulted in a lower operating result (EBITDA) of EUR 14.7 million (previous year: EUR 16.9 million). This effect resulted from the shift of activities to the new DIGITAL reporting segment. The segment's EBIT of EUR 7.9 million was also below the previous year's figure of EUR 10.4 million. The EBIT margin in relation to the unconsolidated total revenues thus fell from 7.4 % in the previous year to 5.2 % in the reporting period.

At EUR 17.6 million, the unconsolidated total revenues of the AEROSPACE segment in the first three months of the 2021 financial year were below the previous year's figure of EUR 34.5 million. The operating result (EBITDA) for this segment amounted to EUR -0.2 million and was thus significantly lower than in the previous year (EUR 2.6 million). Consequently, the key figure EBIT also decreased compared to the previous year (EUR 1.2 million) and reached a value of EUR -1.8 million. The EBIT margin in relation to the unconsolidated total revenues was -10.2 % after 3.4 % in the previous year.

The unconsolidated total revenues of the first-time reporting segment DIGITAL reached EUR 26.8 million in the first three months of the 2021 financial year. The operating result (EBITDA) for this segment amounted to EUR 5.4 million, the key figure EBIT reached a value of EUR 4.9 million. The EBIT margin related to the unconsolidated total revenues reached 18.4 %.

The Group's firm order backlog stood at EUR 2,538 million after three months of fiscal 2021, up from EUR 2,632 million as of December 31, 2020, of which OHB System AG accounted for almost 93 % at EUR 2,364 million. As of 31 March 2021, the OHB Group's total assets stood at EUR 947.7 million, up 4 % on the level as of 31 December 2020 (EUR 912.1 million). The slight increase in equity from EUR 223.3 million to EUR 230.5 million was disproportionately low compared with the increase in the balance sheet total and resulted in an equity ratio of 24.3 % as of 31 March 2021, compared with 24.5 % at the end of the year on 31 December 2020.

The Management Board issued the following guidance for fiscal 2021 during the Capital Market Day on February 11, 2021: The OHB Group's consolidated total revenues are to amount to EUR 1 billion, while the operating earnings figures EBITDA and EBIT are to reach EUR 80 million and EUR 45 million, respectively. Given the high order backlog and the positive business performance after three months, we assume that the financial position and net assets will continue to develop well and confirm the outlook for the current fiscal year.

Key performance indicators at a glance

EUR (000s)
3M / 2020

3M / 2021
+/- 3M
2020 / 2021
Sales 175,007 188,630 + 4 %
Total revenues 184,156 190,114 + 3 %
EBITDA 19,271 20,246 + 5 %
EBIT 11,094 11,374 + 3 %
EBT 9,777 10,721 + 10 %
Consolidated net profit 6,497 6,956 + 7 %
EPS in EUR 0.36 0.42 + 17 %
Cash and cash equivalents at the end of the period 116,538 84,855 - 27 %
Contact

OHB SE
Investor Relations
Manfred-Fuchs-Platz 2-4
28359 Bremen/Germany
Phone +49 (0) 421-2020 7200
Fax +49 (0) 421-2020 613
Email ir@ohb.de

Contact for investors and analysts: 

Martina Lilienthal
Phone: +49 421 - 2020-7200
Fax: +49 421 - 2020-613
Email: ir@ohb.de

Corporate Communications
Günther Hörbst
Phone: +49 421 - 2020-9438
Email: guenther.hoerbst@ohb.de