OHB SE Releases Its Quarterly Report:

The OHB Group’s (Prime Standard, ISIN: DE0005936124) total revenue for the first three months amounted to EUR 189.7 million, an increase of 15% compared with the same period last year (prior year: EUR 165.3 million).

Operating profit (EBITDA) rose to EUR 14.2 million (previous year: EUR 12.7 million). At 7.5% after the first three months of 2018, the operating EBITDA margin remained virtually unchanged from the comparable period of the previous year (7.7%). Despite higher depreciation and amortization expenses of EUR 4.0 million in the current fiscal year, compared to EUR 3.3 million in the prior year, EBIT rose to EUR 10.2 million from EUR 9.4 million in the prior year. The corresponding EBIT margin declined slightly to 5.4% from 5.7% in the prior year. Earnings before taxes (EBT) rose by just under 8% to EUR 9.4 million after the first three months of 2018 (previous year: EUR 8.7 million). Higher income and income taxes of EUR 3.0 million (previous year: EUR 2.7 million) in the 2018 reporting period nevertheless resulted in a 5% improvement in consolidated net income to EUR 6.4 million (previous year: EUR 6.1 million).

TheSpace Systemsdivision’s unconsolidated total revenue of EUR 147.1 million exceeded the figure for the first three months of the previous year, which was EUR 113.8 million. The increase in total revenue resulted in a corresponding increase in operating profit (EBITDA) to EUR 9.9 million (previous year: EUR 8.6 million). Despite significantly higher depreciation and amortization, the segment’s EBIT of EUR 7.2 million exceeded the prior-year figure of EUR 6.6 million. The EBIT margin relative to unconsolidated total revenue declined slightly to 4.9% (prior-year figure: 5.8%).

The unconsolidated total revenue of theAerospace + Industrial Productsdivision amounted to EUR 44.0 million in the first three months of fiscal year 2018 (previous year: EUR 55.2 million), a decrease of approximately 20% compared with the same period of the previous year. Costs for materials and purchased services, which fell by approximately 37% in the reporting period, amounted to EUR 18.3 million, compared to EUR 29.1 million in the prior year. This resulted in an operating profit (EBITDA) of EUR 4.4 million, slightly higher than the prior year (prior year: EUR 4.3 million). The segment’s constant EBIT of EUR 3.0 million resulted in an increased EBIT margin relative to total unconsolidated revenue of 6.9%, compared to 5.4% in the prior year.

The OHB Group’s order backlog stood at EUR 2,397 million after the first three months of fiscal year 2018, compared with EUR 1,523 million in the same period of the previous year. Of this amount, EUR 1,916 million—or approximately 80%—is attributable to OHB System AG.

At the end of the reporting period, cash and cash equivalents (excluding securities) stood at EUR 50.2 million, down from EUR 56.1 million at the end of the prior-year period. As of March 31, 2018, the OHB Group’s total assets stood at EUR 729.5 million, up by just over 1% from the level as of December 31, 2017 (EUR 719.7 million).

The Executive Board expects the OHB Group’s consolidated total revenue for the 2018 fiscal year to reach EUR 1,000 million. The operating profit metrics EBITDA and EBIT are expected to reach EUR 65 million and EUR 47 million, respectively, in 2018. Given the high order backlog and the positive outlook for the current fiscal year, the Executive Board expects the Group’s financial and asset position to continue to develop favorably.