The Executive Board of OHB SE (ISIN: DE0005936124, Prime Standard) is presenting the audited 2019 consolidated financial statements at today’s earnings press conference.
In fiscal year 2019, the Group’s total operating revenue reached EUR 1,030 million (previous year: EUR 1,000 million), while revenue rose to EUR 1,005 million (previous year: EUR 977 million). EBITDA rose to EUR 78.3 million (previous year: EUR 65.0 million), and the EBITDA margin reached 7.6% after 6.5% in the previous year. EBIT increased to EUR 49.1 million (previous year: EUR 47.8 million). The EBIT margin remained unchanged at 4.8% compared to the previous year. Consolidated net income after minority interests rose to EUR 25.5 million (previous year: EUR 25.0 million), bringing earnings per share to EUR 1.47 (diluted and undiluted) for the 2019 fiscal year, up from EUR 1.44 in the previous year. Operating cash flow amounted to EUR 22.9 million as of the balance sheet date (previous year: EUR 60.2 million). Equity amounted to EUR 200.8 million as of the balance sheet date and was thus virtually unchanged compared to the previous year (EUR 200.0 million). As total assets increased to EUR 931.0 million compared to the prior-year balance sheet date (EUR 753.6 million), the equity ratio decreased to 21.6% (prior year: 26.5%).
The “Space Systems” segment reported increased total revenue of EUR 850.9 million in 2019 (previous year: EUR 809.5 million). EBIT in this segment rose sharply from EUR 32.6 million in the prior year to EUR 42.4 million. The EBIT margin based on unconsolidated total revenue thus stands at 5.0%, up from 4.0% in the prior year. The unconsolidated total revenue of the “Aerospace + Industrial Products” segment decreased in fiscal year 2019 from EUR 197.6 million to EUR 185.9 million. This resulted in a reduced EBIT of EUR 7.0 million for the segment (previous year: EUR 15.7 million). The EBIT margin decreased to 3.8% (previous year: 7.9%).
The Executive Board and Supervisory Board will propose a dividend of EUR 0.43 per share (previous year: EUR 0.43) to the Annual General Meeting for the 2019 fiscal year. The Group’s cash and cash equivalents amounted to EUR 85.1 million as of December 31, 2019 (previous year: EUR 48.3 million).
The order backlog remains at a very high level of EUR 1,840 million (previous year: EUR 2,399 million). The “Space Systems” division accounts for the majority of the order backlog, amounting to EUR 1,654 million; the order backlog in the “Aerospace + Industrial Products” division is EUR 187 million. This ensures a high degree of planning certainty for the future.
The Executive Board expects consolidated total revenue of EUR 1.1 billion for the full year 2020. The operating profit metrics EBITDA and EBIT are expected to reach EUR 80 million and EUR 44 million, respectively.
OHB SE’s complete 2019 consolidated financial statements will be discussed in detail at today’s (March 18, 2020) financial results press conference in Bremen and the subsequent analyst conference call.
Press conference call at 9:30 a.m. on March 18, 2020
Analyst conference call at 11:30 a.m. on March 18, 2020
| Key Financial Ratios at a Glance (in thousands of euros) | 2016 | 2017 | 2018 | 2019 | 2018–2019 |
| Revenue | 699.184 | 825.894 | 976.551 | 1.004.618 | +3% |
| Total operating performance | 728.386 | 859.689 | 1.000.392 | 1.030.086 | +3% |
| EBITDA | 55.081 | 58.809 | 65.013 | 78.331 | +20% |
| EBIT | 42.700 | 44.223 | 47.751 | 49.109 | +3% |
| EBT | 38.009 | 42.238 | 44.092 | 39.144 | -11% |
| Consolidated net income | 25.575 | 27.724 | 28.393 | 25.629 | -10% |
| Net income after minority interests | 22.212 | 23.355 | 24.998 | 25.543 | +2% |
| Earnings per share in EUR | 1,28 | 1,34 | 1,44 | 1,47 | +2% |
| Dividend per share* in EUR | 0,40 | 0,40 | 0,43 | 0,43* | 0% |
| Cash and cash equivalents | 56.567 | 58.578 | 48.316 | 85.090 | 76% |
*) 2019: Proposal to the Annual General Meeting