The Executive Board of OHB SE (ISIN: DE0005936124, Prime Standard) is presenting the audited 2018 consolidated financial statements at today’s earnings press conference in Bremen.
In fiscal year 2018, the Group’s total revenue reached EUR 1,000 million (previous year: EUR 860 million). EBITDA rose to EUR 65.0 million (previous year: EUR 58.8 million), and the EBITDA margin stood at 6.5% compared to 6.8% in the previous year. EBIT increased to EUR 47.8 million (previous year: EUR 44.2 million). The EBIT margin changed to 4.8% (previous year: 5.1%). Consolidated net income rose to EUR 28.4 million (previous year: EUR 27.7 million), thereby increasing earnings per share to EUR 1.44 (diluted and undiluted) for the 2018 fiscal year, compared to EUR 1.34 in the previous year. Operating cash flow amounted to EUR 60.2 million as of the balance sheet date (previous year: EUR 35.0 million). Equity, which was reduced due to changes in accounting policies, amounted to EUR 200.0 million as of the balance sheet date (previous year: EUR 207.3 million). Furthermore, as total assets increased to EUR 753.6 million compared to the prior-year balance sheet date (EUR 719.7 million), the equity ratio decreased to 26.5% (prior year: 28.8%).
The “Space Systems” division reported increased total revenue of EUR 809.5 million in 2018 (previous year: EUR 661.3 million). EBIT in this business segment rose sharply from EUR 24.1 million in the prior year to EUR 32.6 million. The EBIT margin based on unconsolidated total revenue thus stands at 4.0%, up from 3.6% in the prior year. The unconsolidated total revenue of the “Aerospace + Industrial Products” business segment decreased in fiscal year 2018 from EUR 211.9 million to EUR 197.6 million. This resulted in a reduced EBIT of EUR 15.7 million for the business segment (previous year: EUR 20.2 million). The EBIT margin decreased to 7.9% (previous year: 9.5%).
The Executive Board and Supervisory Board will propose a dividend of EUR 0.43 per share (previous year: EUR 0.40) to the Annual General Meeting for the 2018 fiscal year. The Group’s cash and cash equivalents (including securities) amounted to EUR 48.7 million as of December 31, 2018 (previous year: EUR 59.0 million).
The order backlog remains at a very high level, standing at EUR 2,399 million (previous year: EUR 2,439 million). The “Space Systems” division accounts for the majority of the order backlog, amounting to EUR 2,231 million; the order backlog in the “Aerospace + Industrial Products” division is EUR 168 million. This ensures a high degree of planning certainty for the future.
The Executive Board expects consolidated total revenue of EUR 1.05 billion for the full year 2019. The operating profit metrics EBITDA and EBIT are expected to reach EUR 80 million and EUR 50 million, respectively.
OHB SE’s complete 2018 consolidated financial statements will be discussed in detail at today’s (March 20, 2019) financial results press conference in Bremen (
) and the subsequent analyst meeting in Frankfurt am Main.
Earnings press conference at 8:30 a.m. on March 20, 2019, at the OHB SE offices in Bremen
Analyst Conference (DVFA) at 1:00 p.m. on March 20, 2019, at the DZ Bank AG offices in Frankfurt am Main
| Key Financial Ratios at a Glance (in thousands of euros) | 2015 | 2016 | 2017 | 2018 | 2017–2018 | |
|---|---|---|---|---|---|---|
| Revenue | 719.706 | 699.184 | 825.894 | 976.551 | +18,2% | |
| Total output | 730.368 | 728.386 | 859.689 | 1.000.392 | +16,4% | |
| EBITDA | 52.135 | 55.081 | 58.809 | 65.013 | +10,5% | |
| EBIT | 40.214 | 42.700 | 44.223 | 47.751 | +8,0% | |
| EBT | 36.698 | 38.009 | 42.238 | 44.092 | +4,4% | |
| Consolidated net income | 25.385 | 25.575 | 27.724 | 28.393 | +2,4% | |
| Net income after minority interests | 20.975 | 22.212 | 23.355 | 24.998 | +7,0% | |
| Earnings per share in EUR | 1,21 | 1,28 | 1,34 | 1,44 | +7,5% | |
| Dividend per share* in EUR | 0,40 | 0,40 | 0,40 | 0,43* | +7,5% | |
| Cash and cash equivalents, including securities | 62.052 | 57.584 | 59.258 | 48.651 | -17,9% |
*) 2018: Proposal to the Annual General Meeting