OHB SE: 3-month interim report 2023

Bremen (pta009/10.05.2023/08:00 UTC+2)

• Key figures reach historic highs:
  Total revenues amount to EUR 202 million for the first time (+11 %),
  EBITDA increases to EUR 21.5 million (+8 %), EBIT to EUR 12.5 million (+10 %)
• Earnings per share improve to EUR 0.41 (+14 %)
• Equity significantly increased compared to previous year (+EUR 35.4 million / +13 %)

The OHB Group (ISIN: DE0005936124, Prime Standard) generated total revenues of EUR 202.4 million in the first three months, up 11 % on the previous year (EUR 181.5 million). The operating result (EBITDA) increased from EUR 19.9 million in the previous year to EUR 21.5 million. The operating EBITDA margin changed to 10.6 % in the reporting period, compared to 11.0 % in the same period of the previous year. EBIT improved to EUR 12.5 million in the first three months of the current fiscal year, compared to EUR 11.4 million in the previous year. The corresponding EBIT margin decreased to 6.2 %, compared to 6.3 % in the same period of the previous year.

The financial result of EUR -3.2 million deteriorated compared to the same period of the previous year, mainly due to higher interest charges (previous year: EUR -1.8 million). Earnings before taxes (EBT) thus decreased by 3 % to EUR 9.3 million after the first three months of 2023 (previous year: EUR 9.6 million). Income taxes of EUR 2.8 million (previous year: EUR 3.1 million) resulted in a consolidated profit for the period of EUR 6.3 million in the reporting period 2023, which was 3 % lower than in the previous year (EUR 6.5 million).

At EUR 154.7 million, the unconsolidated total revenues of the SPACE SYSTEMS division were above the level of the first three months of the previous year (EUR 142.8 million). The increased total revenues resulted in an increased operating result (EBITDA) of EUR 15.7 million (previous year: EUR 15.2 million). The segment's EBIT of EUR 9.3 million was also up on the previous year's figure of EUR 8.9 million. The EBIT margin in relation to the unconsolidated total revenues decreased slightly from 6.2 % in the previous year to 6.0 % in the reporting period.

At EUR 28.1 million, the unconsolidated total revenues of the AEROSPACE segment in the first three months of fiscal year 2023 were above the previous year's figure of EUR 23.7 million. The operating result (EBITDA) for this segment amounted to EUR 2.5 million and was thus higher than in the previous year (EUR 1.8 million). This resulted in an increased EBIT of EUR 0.5 million compared to the previous year (EUR 0.1 million). The EBIT margin in relation to the unconsolidated total revenues thus reached 1.9 %, compared to 0.3 % in the previous year.

The unconsolidated total revenues of the DIGITAL reporting segment amounted to EUR 25.3 million in the first three months of fiscal year 2023 (previous year: EUR 24.0 million). The operating result (EBITDA) for this segment rose from EUR 3.0 million in the same period of the previous year to EUR 3.2 million, while EBIT reached the same amount and stood at EUR 2.6 million. The EBIT margin in relation to the unconsolidated total revenues reached 10.1 % (previous year: 10.8 %).

The Group's firm order backlog stood at EUR 1,764 million after three months of fiscal year 2023, down from EUR 1,956 million in the previous year. Of this amount, EUR 1,486 million is attributable to the SPACE SYSTEMS segment, EUR 152 million to the AEROSPACE segment and EUR 126 million to the DIGITAL segment. As of March 31, 2023, the OHB Group's total assets stood at EUR 1,043.6 million, down around 3 % from December 31, 2022 (EUR 1,080.7 million). The increase in equity from EUR 293.5 million to EUR 299.8 million opposed the decrease in total assets and resulted in an equity ratio of 28.7 % as of March 31, 2023, up from 27.2 % at the end of the year on December 31, 2022.

At the end of the reporting period, cash and cash equivalents were below the previous year's level (EUR 63.2 million) at EUR 40.8 million.

The Management Board expects the OHB Group's consolidated total revenues to amount to EUR 1,176 million in 2023, with EBITDA and EBIT reaching EUR 109 million and EUR 70 million, respectively. Based on the high order backlog and the positive outlook for the current fiscal year, the Management Board assumes that the financial condition and net assets will continue to develop well.

Key performance indicators at a glance

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