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OHB SE: Consolidated financial statements 2021

Bremen (pta009/23.03.2022/08:00 UTC+1)

• Key profitability figures EBITDA and EBIT of EUR 84 million and EUR 47 million exceed expectations (EUR 80 million and EUR 45 million, respectively), EBITDA margin of 9.1%

• EPS at historic high of EUR 1.58, dividend proposal of 48 cents (+12%)

• Equity ratio increases to 26.3%

Bremen, March 23, 2022. In fiscal 2021, OHB SE's (ISIN: DE0005936124) total revenues came to EUR 917 million (previous year: EUR 901 million), while sales changed to EUR 905 million (previous year: EUR 880 million). Both key figures were again affected by pandemic-related delays in the supply chain, which had already occurred in the previous year and which, contrary to expectations, could not be recovered. Supplies originally planned for the reporting year will only be made in the future and will then have an impact on total revenues and sales. EBITDA amounted to EUR 83.6 million in the reporting year (previous year: EUR 77.0 million), the EBITDA margin increased to 9.1% after 8.5% in the previous year. EBIT amounted to EUR 47.0 million (previous year: EUR 41.6 million). The EBIT-margin thus increased from 4.6% in the previous year to 5.1%. Consolidated net income after minority interests reached EUR 27.5 million (previous year: EUR 20.9 million), earnings per share thus increased to EUR 1.58 (diluted and basic) for fiscal 2021, compared to EUR 1.20 in the previous year.

The operating cash flow amounted to EUR -17.3 million as of the balance sheet date (previous year: EUR 44.1 million), while the free cash flow decreased to EUR -15.5 million in the reporting period (previous year: EUR 27.8 million). Equity increased to EUR 252.6 million as of the balance sheet date (previous year; EUR 223.3 million). The increase in total assets to EUR 960.8 million compared to the previous year's reporting date (EUR 912.1 million) resulted in an improved equity ratio of 26.3% (previous year: 24.5%).

The segment figures for the financial year 2020 stated below are pro forma figures determined due to the reallocation of activities to the new reporting segment "DIGITAL". In the "SPACE SYSTEMS" segment, the Group achieved increased total revenues of EUR 755.9 million in 2021 (previous year: EUR 745.3 million). EBIT in this segment decreased from EUR 38.8 million in the previous year to EUR 33.3 million. The EBIT-margin in relation to the unconsolidated total revenues changed to 4.4%, compared to 5.2% in the previous year. The unconsolidated total revenues of the "AEROSPACE" segment decreased from EUR 104.6 million to EUR 97.4 million in the financial year 2021. EBIT in this segment improved from EUR -2.2 million to EUR 0.5 million, resulting in an EBIT margin of 0.5% (previous year: negative). The total revenues of the "DIGITAL" segment reached EUR 101.0 million, compared to EUR 77.0 million in the same period of the previous year. The EBIT of the segment amounted to EUR 14.0 million (previous year: EUR 4.5 million), the EBIT-margin consequently reached 13.9% after 5.9% in the previous year.

The Management Board and Supervisory Board will propose to the Annual General Meeting an increased dividend of EUR 0.48 per share (previous year: EUR 0.43) for the financial year 2021. The Group's cash and cash equivalents amounted to EUR 96.6 million as of December 31, 2021 (previous year: EUR 92.0 million).

The order backlog of EUR 2,121 million (previous year: EUR 2,632 million) remains at a good level as of the balance sheet date. The majority of the order backlog is represented by the "SPACE SYSTEMS" segment with a value of EUR 1,858 million, the order backlog in the "AEROSPACE" segment amounts to EUR 136 million and the new "DIGITAL" reporting segment has an order backlog in the amount of EUR 127 million.

The Management Board expects consolidated total revenues of EUR 1.205 billion for the full year 2022. The operating earnings figures EBITDA and EBIT are expected to reach EUR 97 million and EUR 60 million, respectively.

OHB SE's complete 2021 consolidated financial statements will be published at today's (March 23, 2022) virtual press conference in Bremen and the subsequent virtual analysts' conference.

Key performance indicators at a glance
in EUR (000)
20182019 20202021 2020/21
Total revenues1,000,3921,030,086901,431916,547+2%
Consolidated net profit28,39325,62919,73727,749+41%
Net income for the period after minority interests24,99825,54320,86927,498+32%
in EUR
Dividend per share *)
in EUR
Cash and cash equivalents48,31685,09091,96896,618+5%

*) 2021: Subject to approval by the shareholders


Emitter: OHB SE
Manfred-Fuchs-Platz 2-4
28359 Bremen
Contact Person: Investor Relations
Phone: +49 421-2020 7200
ISIN(s): DE0005936124 (Share)
Stock Exchange(s): Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate