OHB SE Releases Its 2024 Three-Month Interim Report

The OHB Group (ISIN: DE0005936124, Prime Standard) reported total revenue of EUR 206.7 million for the first three months of the year, an increase of 2% compared to the same period last year (previous year: EUR 202.4 million). Operating profit (EBITDA) decreased from EUR 21.5 million in the prior year to EUR 19.3 million. The operating EBITDA margin for the reporting period was 9.4%, compared to 10.6% in the comparable prior-year period. EBIT decreased to EUR 10.2 million in the first three months of the current fiscal year, down from EUR 12.5 million in the prior year. The corresponding EBIT margin decreased to 4.9%, down from 6.2% in the prior-year period.

The Group’s firm order backlog stood at EUR 1,725 million after the first three months of fiscal year 2024, compared with EUR 1,764 million in the prior year. Of this amount, EUR 1,429 million is attributable to the SPACE SYSTEMS segment, EUR 162 million to the AEROSPACE segment, and EUR 133 million to the DIGITAL segment. As of March 31, 2024, the OHB Group’s total assets stood at EUR 1,265.7 million, down approximately 6% from the level as of December 31, 2023 (EUR 1,340.1 million). The increase in equity from EUR 438.0 million to EUR 442.6 million resulted in an equity ratio of 35.0% as of March 31, 2024, compared to 32.7% at the end of the year on December 31, 2023.

The voluntary public tender offer by Orchid Lux HoldCo S.à r.l. is proceeding as planned. At this time, investment control approvals are still pending from two of a total of ten countries.

In the past quarter, the Group companies in the SPACE SYSTEMS segment were able to strengthen OHB’s strong position in the field of Earth observation with the order for twelve additional satellites for the IRIDE constellation and a contract to prepare the next generation of Sentinel-2 satellites for the European Copernicus constellation. As the main partner for the LEO-PNT demonstration mission, OHB is leveraging its expertise from the Galileo navigation program to lay the groundwork for new application areas such as autonomous driving. In addition, several Group companies in both the SPACE SYSTEMS and AEROSPACE segments are participating in various developments aimed at increasing the efficiency of launch vehicles. In addition, Rocket Factory Augsburg successfully completed the test campaign for the upper stage of its own launch vehicle, RFA ONE, in the past quarter and is currently continuing to work toward the maiden flight this coming summer. In the DIGITAL segment, OHB expanded its business with applications based on Earth observation data as project coordinator for Baltic GTIF.

The Executive Board expects consolidated total revenue for the 2024 fiscal year to range between EUR 1,300 million and EUR 1,400 million. The operating profit metrics—EBITDA margin and EBIT margin—adjusted for one-time items, are expected to reach >8.5% and >6.0%, respectively. At this time, the Executive Board anticipates that the financial and asset position will continue to develop favorably.

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