Bremen (pta009/17.03.2021/08:00) - Total revenues amount to EUR 901 million, EBITDA and EBIT reach EUR 77.0 million and EUR 41.6 million, respectively; EBIT margin in Space Systems rises significantly to 6%
Positive operating cash flow of EUR 44.1 million achieved, free cash flow at EUR 27.8 million
Bremen, March 17, 2021. OHB SE's (ISIN: DE0005936124) total revenues in fiscal 2020 came to EUR 901 million (previous year: EUR 1,030 million), while sales changed to EUR 880 million (previous year: EUR 1,005 million). Both key figures were affected by pandemic-related delays in the supply chain, i.e. deliveries originally planned for the reporting year will only be made in the future and will then impact total revenues and sales. EBITDA amounted to EUR 77.0 million in the reporting year (previous year: EUR 78.3 million), with the EBITDA margin increasing to 8.5% from 7.6% in the previous year. EBIT amounted to EUR 41.6 million (previous year: EUR 49.1 million). The EBIT margin decreased slightly from 4.8% in the previous year to 4.6%. Consolidated net income after minority interests reached EUR 20.9 million (previous year: EUR 25.5 million), earnings per share thus changed to EUR 1.20 (diluted and basic) for the 2020 financial year, compared to EUR 1.47 in the previous year. The operating cash flow amounted to EUR 44.1 million as of the balance sheet date (previous year: EUR 22.9 million), while the free cash flow increased to EUR 27.8 million in the reporting period (previous year: EUR 3.9 million). Equity increased to EUR 223.3 million as of the balance sheet date (previous year; EUR 200.8 million). As total assets decreased at the same time to EUR 912.1 million compared to the previous year's reporting date (EUR 931.0 million), the equity ratio increased to 24.5% (previous year: 21.6%).
In 2020, the Space Systems segment generated total revenues of EUR 763.2 million (previous year: EUR 850.9 million), which was lower due to postponements of subcontractor services. EBIT in this segment increased significantly from EUR 42.4 million in the previous year to EUR 45.9 million. The EBIT margin in relation to unconsolidated total revenues was therefore 6.0%, compared with 5.0% in the previous year. The unconsolidated total revenues of the Aerospace + Industrial Products segment decreased from EUR 185.9 million to EUR 145.6 million in fiscal year 2020. EBIT in this segment changed significantly from EUR 7.0 million to EUR -4.7 million, resulting in a negative EBIT margin (previous year: 3.8%).
The Executive Board and Supervisory Board will propose to the Annual General Meeting a dividend of EUR 0.43 per share for fiscal 2020 (previous year: one-time interruption of dividend continuity due to the Covid 19 pandemic). The Group's cash and cash equivalents amounted to EUR 92.0 million as of December 31, 2020 (previous year: EUR 85.1 million).
The order backlog is at a historic high of EUR 2,632 million (previous year: EUR 1,840 million) at the balance sheet date. The Space Systems business unit accounts for the majority of the order backlog of EUR 2,500 million, while the order backlog in the Aerospace + Industrial Products business unit amounts to EUR 132 million. These figures ensure good planning reliability for the future.
The Executive Board expects consolidated total revenues of EUR 1 billion for the full year 2021. The operating earnings figures EBITDA and EBIT are expected to reach EUR 80 million and EUR 45 million, respectively.
OHB SE's complete 2020 consolidated financial statements will be published at today's (March 17, 2021) virtual press conference in Bremen and the subsequent virtual analyst conference.
Virtual press conference at 09:00 a.m. on March 17, 2021
Virtual analysts' conference at 10:30 a.m. on March 17, 2021
|Key performance indicators at a glance||+/-|
|in EUR (000)||2017||2018||2019||2020||2019/20|
|Consolidated net profit||27,724||28,393||25,629||19,737||-23%|
|Net income for the period after minority interests||23,355||24,998||25,543||20,869||-18%|
|EPS in EUR||1.34||1.44||1.47||1.20||-18%|
|Dividend per share *)||0.40||0.43||-||0.43*||-%|
|Cash and cash equivalents|
*) 2020: Subject to approval by the shareholders(end)
|contact person:||Investor Relations|
|phone:||+49 421-2020 7200|
|stock exchanges:||regulated market in Frankfurt; free market in Dusseldorf, free market in Hamburg, free market in Munich, free market in Stuttgart; open market in Berlin, Tradegate|