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OHB AG (FRA:OHB) OHB SE: 3-month interim report 2018: Total revenues increased to EUR 190 million (+15%), EBITDA increased to EUR 14.2 million (+12%), EBIT increased to EUR 10.2 million (+9%), Guidance for 2018 reiterated

Directive transparence : information réglementée

09/05/2018 08:00

DGAP-News: OHB SE / Key word(s): Quarterly / Interim Statement
OHB SE: 3-month interim report 2018: Total revenues increased to EUR 190 million (+15%), EBITDA increased to EUR 14.2 million (+12%), EBIT increased to EUR 10.2 million (+9%), Guidance for 2018 reiterated

09.05.2018 / 08:00
The issuer is solely responsible for the content of this announcement.


Bremen, May 9, 2018. OHB Group (ISIN: DE0005936124, Prime Standard) achieved total revenues of EUR 189.7 million after three months, an increase of 15% over the same period of the previous year (previous year: EUR 165.3 million).

Operating earnings (EBITDA) rose to EUR 14.2 million (previous year: EUR 12.7 million). In the first three months of 2018, the operating EBITDA margin came to 7.5% and thus close to the figure of 7.7% recorded in the same quarter of the previous year. Despite the higher depreciation and amortisation expense of EUR 4.0 million in the period under review (previous year: EUR 3.3 million), EBIT climbed to EUR 10.2 million, up from EUR 9.4 million in the previous year. Consequently, the EBIT margin contracted slightly from 5.7% in the previous year to 5.4%. Earnings before taxes (EBT) at the end of the first three months of 2018 rose by just under 8% to EUR 9.4 million (previous year: EUR 8.7 million). With income tax rising to EUR 3.0 million in the period under review (previous year: EUR 2.7 million), consolidated net profit for the period climbed by 5% to EUR 6.4 million (previous year: EUR 6.1 million).

At EUR 147.1 million, non-consolidated total revenues in the Space Systems business unit were up on the first three months of the previous year (EUR 113.8 million). The increase in total revenues resulted in similarly higher operating earnings (EBITDA) of EUR 9.9 million, (previous year: EUR 8.6 million). Segment EBIT came to EUR 7.2 million, thus exceeding the previous year's figure of EUR 6.6 million, despite the substantially higher depreciation and amortisation expense. The EBIT margin relative to the segment's non-consolidated total revenues contracted slightly to 4.9% (previous year: 5.8%).

In the first three months of 2018, non-consolidated total revenues in the Aerospace + Industrial Products business unit fell by roughly 20% over the year-ago period to EUR 44.0 million (previous year: EUR 55.2 million). The cost of materials and services purchased dropped by around 37% from EUR 29.1 million in the year-ago period to EUR 18.3 million in the period under review. As a result, operating earnings (EBITDA) rose slightly to EUR 4.4 million, up from EUR 4.3 million in the previous year. The segment's constant EBIT of EUR 3.0 million resulted in a wider EBIT margin relative to non-consolidated total revenues of 6.9%, up from 5.4% in the previous year.

The firm orders held by the Group at the end of the first three months of 2018 were valued at EUR 2,397 million, up from EUR 1,523 million in the previous year. Of this, OHB System AG accounted for EUR 1,916 million or around 80%.

At EUR 50.2 million at the end of the period under review, cash and cash equivalents (net of securities) fell short of the previous year (EUR 56.1 million). The OHB Group's total assets increased by a good 1% over December 31, 2017 to EUR 729.5 million as of March 31, 2018 (December 31, 2017: EUR 719.7 million).

The Management Board expects consolidated total revenues of EUR 1,000 million for 2018, accompanied by EBITDA of EUR 65 million and EBIT of 47 million. Given the greater order backlog and upbeat outlook for the current year, the Management Board assumes that the Group's net assets and financial condition will also remain strong.


Key performance indicators at a glance

EUR (000s)     +/- 3M
  3M / 2017 3M / 2018 2018 / 2017
Sales 147,006 177,934 + 21.0 %
Total revenues 165,319 189,713 + 14.8 %
EBITDA 12,727 14,242 + 11.9 %
EBIT 9,416 10,220 + 8.5 %
EBT 8,708 9,365 + 7.5 %
Consolidated net profit 6,050 6,359 + 5.1 %
EPS in EUR 0.31 0.34 + 9.6 %
Cash and cash equivalents      
incl. securities 57,140 50,884 - 10.9 %

The interim report for Q1 2018 and further information are available at:

www.ohb.de



Contact:
Investor Relations
Martina Lilienthal
Tel.: +49 421 - 2020-720
Fax: +49 421 - 2020-613
E-Mail: martina.lilienthal@ohb.de


Corporate Communications
Günther Hörbst
Tel.: +49 421 - 2020-9438
E-Mail: guenther.hoerbst@ohb.de


09.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: OHB SE
Karl-Ferdinand-Braun-Str. 8
28359 Bremen
Germany
Phone: +49 (0)421 2020 8
Fax: +49 (0)421 2020 613
E-mail: ir@ohb.de
Internet: www.ohb.de
ISIN: DE0005936124
WKN: 593612
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

 
End of News DGAP News Service

683981  09.05.2018 

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