The OHB Group (ISIN: DE0005936124, Prime Standard) reported total revenue of EUR 715.8 million for the first nine months, a 3% decrease compared to the same period last year (previous year: EUR 737.0 million). Operating profit (EBITDA) decreased from EUR 64.1 million in the prior year to EUR 62.4 million. The operating EBITDA margin of 8.7% for the reporting period remained unchanged compared to the same period last year. EBIT decreased to EUR 34.7 million in the first nine months of the current fiscal year, compared to EUR 36.9 million in the prior year. The corresponding EBIT margin decreased to 4.8%, compared to 5.0% in the prior-year period.
The Group’s firm order backlog stood at EUR 2,120 million after nine months of the 2024 fiscal year, compared with EUR 1,742 million in the prior year. Of this amount, EUR 1,783 million is attributable to the SPACE SYSTEMS segment, EUR 203 million to the AEROSPACE segment, and EUR 134 million to the DIGITAL segment. As of September 30, 2024, the OHB Group’s total assets stood at EUR 1,477.9 million, approximately 10% above the level as of December 31, 2023 (EUR 1,340.1 million). The increase in equity from EUR 438.0 million to EUR 443.6 million resulted in an equity ratio of 30.0% as of September 30, 2024, compared to 32.7% at the end of the year on December 31, 2023.
With the contracts for the tenth “Earth Explorer” mission, Harmony, and the space security mission, Ramses, the SPACE SYSTEMS segment recorded two significant new orders in the past quarter. In addition, all three remaining launches scheduled for 2024 were successfully carried out. In the AEROSPACE segment, MT Aerospace AG—as one of the largest suppliers for the new European launch vehicle Ariane 6—expects a steady ramp-up in production volume in the coming years following the successful maiden launch. Furthermore, the company was able to further advance its strategic growth in the defense sector by signing two new contracts. By signing a cooperation agreement with Frauscher Sensortechnik GmbH, OHB Teledata GmbH made progress in one of the core areas of the strategy for the DIGITAL segment: the internationalization of the rail business beyond Germany.
In addition, the voluntary public tender offer by Orchid Lux HoldCo S.à r.l.—a holding company controlled by investment funds, vehicles, and/or accounts advised and managed by subsidiaries of Kohlberg Kravis Roberts & Co L.P. (“KKR”)—was successfully completed in the past quarter following the satisfaction of all offer conditions. Following completion, KKR holds approximately 28.6% of the company’s shares. OHB continues to plan its delisting from the stock exchange to facilitate the implementation of its long-term growth strategy as a privately held company.
At this point in time, the Management Board assumes that the financial position and net assets will continue to develop well.
Key performance indicators at a glance
| in EUR 000 | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 | +/- 9M |
|---|---|---|---|---|---|
| Revenue | 233.106 | 274.812 | 691.415 | 718.558 | -4 % |
| Total operating performance | 245.343 | 280.397 | 715.811 | 737.016 | -3 % |
| EBITDA | 28.071 | 19.989 | 62.365 | 64.103 | -3 % |
| Adjusted EBITDA | 31.772 | 19.989 | 72.509 | 64.103 | +13 % |
| EBIT | 18.863 | 10.924 | 34.693 | 36.885 | -6 % |
| Share of OHB SE shareholders in net profit for the period | 12.008 | 5.305 | 17.367 | 18.999 | -9 % |
| Earnings per share in EUR | 0,63 | 0,30 | 0,91 | 1,09 | -17 % |
| Cash and cash equivalents | 23.409 | 25.270 | 23.409 | 25.270 | -7 % |