The OHB Group (ISIN: DE0005936124, Prime Standard) reported total revenue of EUR 456.6 million for the first six months of the year, an increase of 3% compared to the same period last year (previous year: EUR 442.8 million). Operating profit (EBITDA) rose from EUR 42.8 million in the prior year to EUR 44.1 million. The operating EBITDA margin for the reporting period was 9.7%, unchanged from the comparable prior-year period. EBIT improved to EUR 26.0 million in the first six months of the current fiscal year, up from EUR 25.4 million in the prior year. The corresponding EBIT margin also remained unchanged from the prior-year period at 5.7%.
The financial result of EUR -6.3 million deteriorated compared with the same period last year, primarily due to higher interest expenses (prior year: EUR -1.5 million). Earnings before taxes (EBT) thus decreased by 18% to EUR 19.6 million after the first six months of 2023 (previous year: EUR 23.9 million). Income and income taxes of EUR 6.2 million (previous year: EUR 7.5 million) resulted in a consolidated net income of EUR 13.2 million for the 2023 reporting period, a 20% decrease compared to the previous year (EUR 16.5 million).
The SPACE SYSTEMS segment’s unconsolidated total revenue of EUR 355.9 million was below the level recorded in the first six months of the previous year (EUR 364.7 million). Despite the decline in total revenue, the segment posted an improved operating profit (EBITDA) of EUR 33.9 million (previous year: EUR 30.1 million). The segment’s EBIT of EUR 21.1 million was also higher than the prior-year figure of EUR 17.4 million. The EBIT margin relative to unconsolidated total revenue thus increased from 4.8% in the prior year to 5.9% in the reporting period.
The AEROSPACE segment’s unconsolidated total revenue for the first six months of fiscal year 2023 was EUR 60.4 million, significantly higher than the prior-year figure of EUR 54.0 million. Operating profit (EBITDA) for this segment decreased to EUR 5.4 million compared to the same period last year (EUR 6.7 million). This also led to a decrease in EBIT to EUR 1.3 million (previous year: EUR 3.2 million). The EBIT margin relative to total revenue thus reached 2.1%, down from 5.9% in the previous year.
The DIGITAL segment’s unconsolidated total revenue for the first six months was EUR 51.6 million, slightly below the prior-year level (EUR 48.7 million). Operating profit (EBITDA) for this segment amounted to EUR 4.7 million, compared to EUR 6.1 million in the prior year, and EBIT reached EUR 3.5 million (prior year: EUR 4.9 million). The EBIT margin relative to unconsolidated total revenue thus reached 6.8% compared to 10.1% in the same period of the previous year.
The Group’s firm order backlog stood at EUR 1,805 million after six months of the 2023 fiscal year, compared with EUR 1,846 million in the prior year. Of this amount, EUR 1,559 million is attributable to the SPACE SYSTEMS segment, EUR 128 million to the AEROSPACE segment, and EUR 118 million to the DIGITAL segment. As of June 30, 2023, the OHB Group’s total assets stood at EUR 1,154.5 million, up approximately 7% from the level as of December 31, 2022 (EUR 1,080.7 million). The increase in equity from EUR 293.5 million to EUR 296.3 million resulted, due to the extension of the balance sheet, in an equity ratio of 25.7% as of June 30, 2023, compared to 27.2% at the end of the year on December 31, 2022.
At the end of the reporting period, cash and cash equivalents stood at EUR 40.7 million, down from the previous year’s figure (EUR 47.7 million).
The Executive Board expects the OHB Group’s consolidated total revenue for the 2023 fiscal year to amount to EUR 1,176 million, with the operating profit metrics EBITDA and EBIT projected to reach EUR 109 million and EUR 70 million, respectively. Given the high order backlog and the positive outlook for the current fiscal year, the Executive Board expects the financial and asset position to continue to develop favorably.
Key performance indicators at a glance
| thousand euros | Q2 2023 | Q2 2022 | 6M 2023 | 6M 2022 | ± 6M |
|---|---|---|---|---|---|
| Revenue | 246.656 | 251.434 | 443.746 | 424.267 | +5 % |
| Total operating performance | 253.870 | 261.303 | 456.619 | 442.819 | +3 % |
| EBITDA | 22.572 | 22.894 | 44.114 | 42.836 | +3 % |
| EBIT | 13.419 | 14.010 | 25.961 | 25.439 | +2 % |
| EBT | 10.298 | 14.332 | 19.632 | 23.928 | -18 % |
| Share of OHB SE shareholders in net profit for the period | 6.620 | 8.983 | 13.694 | 15.291 | -10 % |
| Earnings per share in EUR | 0,38 | 0,52 | 0,79 | 0,88 | -10 % |
| Cash and cash equivalents | 40.712 | 47.700 | 40.712 | 47.700 | -15 % |