Total revenue increased from EUR 153 million to EUR 157 million compared with the same quarter of the previous year

The OHB Group’s (Prime Standard, ISIN: DE0005936124) total revenue for the first three months amounted to EUR 157.4 million, a slight increase of just under 3% compared with the same period last year (prior year: EUR 153.2 million).

The only slightly higher cost of materials, amounting to EUR 92.4 million (previous year: EUR 91.2 million), resulted in an almost identical operating profit (EBITDA) of EUR 10.7 million (previous year: EUR 10.8 million). The operating EBITDA margin stabilized at 6.8% after three months of 2016, compared to 7.0% in the same period of the prior year. The slightly lower depreciation and amortization of EUR 2.8 million in the current fiscal year, compared to EUR 3.0 million in the prior year, resulted in a constant EBIT of EUR 7.8 million, as in the prior year. The EBIT margin accordingly declined slightly to 5.0% from 5.1% in the prior year. The EBIT margin on the higher value added in this quarter thus reached 8.3% compared to 8.8% in the prior-year period. Profit from ordinary activities, which also remained virtually constant, amounted to EUR 7.1 million after the first three months of 2016 (prior-year figure: EUR 7.2 million). Following lower income and income taxes of EUR 2.2 million (previous year: EUR 2.6 million) in the 2016 reporting period, the OHB Group generated a slightly improved consolidated net income of EUR 4.8 million (previous year: EUR 4.7 million).

The Space Systemsdivision’s unconsolidated totalrevenueof EUR 118.6 millionwasnearly identical to the figure for the first three months of the previous year, which was EUR 118.3 million. Lower costs for materials and purchased services, totaling EUR 73.9 million (previous year: EUR 75.7 million) resulted in an increase in operating profit (EBITDA) to EUR 8.0 million, up from EUR 7.5 million in the previous year. The segment’s EBIT rose by EUR 0.5 million, or just under 9%, to EUR 6.2 million (previous year: EUR 5.7 million). The EBIT margin relative to total revenue, at 5.2%, also increased (previous year: 4.8%). The EBIT margin relative to value added rose despite a nearly 5% increase in value added, reaching 10.5% compared to 10.1% in the prior-year period.

The unconsolidated total revenue of theAerospace + Industrial Productsdivision reached EUR 39.4 million in the first three months of fiscal year 2016 (previous year: EUR 36.1 million), an increase of 9% compared with the same period of the previous year. Expenses for materials and purchased services, which rose by approximately 15% in the reporting period, amounted to EUR 18.8 million, compared to EUR 16.4 million in the prior year. This resulted in a lower operating profit (EBITDA) of EUR 2.8 million, compared to EUR 3.0 million in the prior year. The segment’s EBIT, which remained virtually unchanged at EUR 1.8 million (previous year: EUR 1.9 million), resulted from lower depreciation and amortization. The EBIT margin relative to total revenue fell to 4.6% (previous year: 5.1%). The EBIT margin relative to the company’s own value added—which rose significantly by approximately 13%—fell to 5.1% from 5.8% in the prior-year period.

The OHB Group’s order backlog stood at EUR 1,744 million after the first three months of fiscal year 2016, compared with EUR 1,684 million as of December 31, 2015. Of this amount, EUR 1,280 million—or just over 73%—is attributable to OHB System AG.

At the end of the reporting period, cash and cash equivalents (excluding securities) stood at EUR 42.8 million, which was below the high level recorded at the end of the prior-year period (EUR 52.0 million). As of March 31, 2016, the OHB Group’s total assets stood at EUR 699.2 million, an increase of EUR 60.5 million (9.5%) compared to December 31, 2015 (EUR 638.7 million). Equity in the Group increased by EUR 9.8 million to EUR 178.6 million. The equity ratio thus stood at 26% as of March 31, 2016, unchanged from December 31, 2015.

The Executive Board expects the OHB Group’s consolidated total revenue for the 2016 fiscal year to amount to EUR 750 million. The operating profit metrics EBITDA and EBIT are projected to amount to EUR 54 million and EUR 42 million, respectively, in 2016. OHB SE thus confirms the forecast for the 2016 fiscal year issued in February. Given the high order backlog and the positive outlook for the current fiscal year, the Management Board expects the financial and asset position to continue to develop favorably.