The OHB Group (ISIN: DE0005936124, Prime Standard) reported total revenue of EUR 470.5 million for the first six months of the year, an increase of 3% compared to the same period last year (previous year: EUR 456.6 million). Operating profit (EBITDA) decreased from EUR 44.1 million in the prior year to EUR 34.3 million. The operating EBITDA margin for the reporting period was 7.3%, compared to 9.7% in the comparable prior-year period. EBIT decreased to EUR 15.8 million in the first six months of the current fiscal year, compared to EUR 26.0 million in the prior year. The corresponding EBIT margin decreased to 3.4%, compared to 5.7% in the prior-year period.
The Group’s firm order backlog stood at EUR 1,653 million after six months of fiscal year 2024, compared with EUR 1,805 million in the prior year. Of this amount, EUR 1,341 million is attributable to the SPACE SYSTEMS segment, EUR 209 million to the AEROSPACE segment, and EUR 103 million to the DIGITAL segment. As of June 30, 2024, the OHB Group’s total assets stood at EUR 1,394.8 million, up approximately 4% from the level as of December 31, 2023 (EUR 1,340.1 million). The increase in equity from EUR 438.0 million to EUR 443.4 million resulted in an equity ratio of 31.8% as of June 30, 2024, compared to 32.7% at the end of the year on December 31, 2023.
In the SPACE SYSTEMS segment, two Galileo navigation satellites developed and built by OHB were successfully launched in the second quarter—the first such launches since 2021. Two more are scheduled to follow later this year. In addition, final tests for the launches planned for 2024 and 2025 were completed in several projects. For the AEROSPACE segment, the signing of an Authorization to Proceed in the Ariane 6 program means the stabilization and medium-term assurance of continuous capacity utilization. Furthermore, Rocket Factory Augsburg successfully tested additional components of its in-house developed microlauncher RFA ONE—whose maiden launch is still scheduled for 2024. Through its involvement in the Urban AI project, OHB’s DIGITAL business segment will contribute to the sustainable urban development of the future by leveraging previously untapped potential in existing Earth observation data.
The completion of the voluntary public tender offer by Orchid Lux HoldCo S.à r.l. is expected in the summer of 2024. At this time, only the approval under investment control laws from the Kingdom of Belgium is still pending.
At this time, the Executive Board expects the company’s financial and asset position to continue to develop favorably.
Key Performance Indicators at a Glance
| thousand euros | Q2 2024 | Q2 2023 | 6M 2024 | 6M 2023 | ± 6M |
|---|---|---|---|---|---|
| Revenue | 255.183 | 246.576 | 458.309 | 443.746 | +3 % |
| Total output | 263.743 | 254.269 | 470.468 | 456.619 | +3 % |
| EBITDA | 14.952 | 22.572 | 34.294 | 44.114 | -22 % |
| Adjusted EBITDA | 21.395 | 22.572 | 40.737 | 44.114 | -8 % |
| EBIT | 5.600 | 13.419 | 15.830 | 25.961 | -39 % |
| Share of OHB SE shareholders in net income for the period | 592 | 6.620 | 5.359 | 13.694 | -61 % |
| Earnings per share in EUR | 0,03 | 0,38 | 0,28 | 0,79 | -65 % |
| Cash on hand | 51.861 | 40.712 | 51.861 | 40.712 | +27 % |