OHB SE Reports Results for Fiscal Year 2016

The Executive Board of OHB SE (ISIN: DE0005936124, Prime Standard) is presenting the audited 2016 consolidated financial statements at today’s earnings press conference in Bremen.

In fiscal year 2016, the Group stabilized total revenue at EUR 728 million (previous year: EUR 730 million), falling just 0.3% short of the prior-year figure. All earnings figures exceeded both the prior-year figures and the forecast figures, resulting in corresponding margin improvements. EBITDA rose to EUR 55.1 million (prior year: EUR 52.1 million), representing a margin improvement to 7.6% from 7.1% in the prior year. The EBIT margin rose to 5.9% (previous year: 5.5%), resulting in a 6% increase in EBIT to EUR 42.7 million (previous year: EUR 40.2 million).

Consolidated net income after minority interests rose to EUR 22.2 million (previous year: EUR 21.0 million). This resulted in an increase in earnings per share to EUR 1.28 (both diluted and undiluted) for the 2016 fiscal year, up from EUR 1.21 in the previous year.

Operating cash flow improved significantly compared with the previous year, reaching EUR 72.7 million (previous year: EUR 3.6 million).

Although total assets rose to EUR 682.9 million (previous year: EUR 638.7 million), equity increased by EUR 14.8 million year-over-year to EUR 183.6 million, resulting in a slight improvement in the equity ratio to 26.9% (previous year: 26.5%). 

The “Space Systems” division reported unconsolidated total revenue of EUR 559.5 million in 2016, virtually unchanged from the previous year (EUR 553.1 million). EBIT for the satellite programs rose from EUR 24.0 million in the prior year to EUR 25.5 million. The EBIT margin relative to unconsolidated total revenue thus amounts to 4.6% (up from 4.3% in the prior year).

The unconsolidated total revenue generated by the “Aerospace + Industrial Products” division in fiscal year 2016, amounting to EUR 175.9 million, was below the prior-year figure of EUR 186.8 million. This was also reflected in lower cost of materials. This resulted in an increased EBIT of EUR 17.2 million for the division (previous year: EUR 16.0 million). The EBIT margin thus rose to 9.8% (previous year: 8.6%).

The Executive Board and Supervisory Board will propose to the Annual General Meeting a dividend of 40 cents per share for 2016, the same as in the previous year. The Group’s cash and cash equivalents (including securities) amounted to EUR 57.6 million as of December 31, 2016 (previous year: EUR 62.1 million).

The order backlog of EUR 1,560 million (previous year: EUR 1,684 million) remains at a high level; The “Space Systems” division accounts for the majority of the order backlog, totaling EUR 1,341 million, while the order backlog in the “Aerospace + Industrial Products” division amounts to EUR 218 million. This ensures satisfactory planning security for the future as well as high operational capacity utilization across all divisions.

The Executive Board expects consolidated total revenue of EUR 800 million for the full year 2017. The operating profit metrics EBITDA and EBIT are expected to reach EUR 60 million and EUR 44 million, respectively.

OHB SE’s complete 2016 consolidated financial statements will be discussed in detail at today’s (March 21, 2017) financial results press conference in Bremen and the subsequent analyst meeting in Frankfurt am Main.

Earnings Press Conference at 8:30 a.m. on March 21, 2017
at the OHB SE offices in Bremen

Analyst Conference (DVFA) at 1:00 p.m. on March 21, 2017
at the DZ Bank AG offices in Frankfurt am Main

*) 2016: Proposal to the Annual General Meeting