OHB SE discloses 9-month interim report 2022

• Total revenues reach EUR 694.5 million for the first time (+13%)
• Profitability figures also reach historic highs:
  EBITDA rises to EUR 68.0 million (+15%), EBIT to EUR 41.4 million (+26%)
• Net profit for the period improves strongly to EUR 27.6 million (+45%)

Bremen, November 10, 2022. The OHB Group (ISIN: DE0005936124, Prime Standard) generated total revenues of EUR 694.5 million in the first nine months, up 13% on the previous year (EUR 615.1 million). The operating result (EBITDA) increased from EUR 59.4 million in the previous year to EUR 68.0 million. The operating EBITDA margin thus rose to 9.8% in the reporting period, compared to 9.7% in the same period of the previous year. EBIT improved significantly to EUR 41.4 million in the first nine months of the current fiscal year, compared to EUR 32.7 million in the previous year. The corresponding EBIT margin increased accordingly to 6.0%, compared to 5.3% in the same period of the previous year.

The financial result of EUR -1.3 million improved compared to the same period of the previous year, mainly impacted by exchange rate effects (previous year: EUR -3.6 million). Earnings before taxes (EBT) thus increased by 38% to EUR 40.0 million after the first nine months of 2022 (previous year: EUR 29.1 million). Income taxes of EUR 12.4 million (previous year: EUR 10.0 million) resulted in a consolidated net profit of EUR 27.6 million in the reporting period 2022, which was 45% higher than in the previous year (EUR 19.1 million).

At EUR 562.1 million, the unconsolidated total revenues of the SPACE SYSTEMS division were significantly above the level of the first nine months of the previous year (EUR 500.8 million). The increased total revenues resulted in an improved operating result (EBITDA) of EUR 49.8 million (previous year: EUR 40.1 million). The segment's EBIT of EUR 30.5 million was also significantly above the previous year's figure of EUR 19.6 million. The EBIT margin in relation to the unconsolidated total revenues thus increased from 3.9% in the previous year to 5.4% in the reporting period.

At EUR 86.5 million, the unconsolidated total revenues of the AEROSPACE segment in the first nine months of fiscal year 2022 were above the previous year's figure of EUR 67.3 million. The operating result (EBITDA) for this segment improved significantly to EUR 9.9 million compared to the previous year (EUR 4.6 million). This resulted in an improved EBIT of EUR 4.5 million compared to the previous year (EUR 0.0 million). The EBIT margin in relation to the unconsolidated total revenues thus reached 5.2%, compared to 0.0% in the previous year.

The unconsolidated total revenues of the DIGITAL segment amounted to EUR 69.3 million in the first nine months of fiscal year 2022 (previous year: EUR 75.7 million). The operating result (EBITDA) for this segment changed from EUR 14.3 million in the same period of the previous year to EUR 8.3 million, while EBIT decreased from EUR 12.7 million to EUR 6.5 million. The EBIT margin in relation to the unconsolidated total revenues reached 9.4% (previous year: 16.8%).

The Group's firm order backlog stood at EUR 1,859 million after nine months of fiscal year 2022, down from EUR 2,364 million in the previous year. Of this, OHB System AG accounted for around 77% at EUR 1,437 million. As of September 30, 2022, the OHB Group's total assets stood at EUR 1,073.8 million, up just under 12% from December 31, 2021 (EUR 960.8 million). The increase in equity from EUR 252.6 million to EUR 287.5 million resulted in an equity ratio of 26.8% as of September 30, 2022, up from 26.3% at year-end on December 31, 2021 despite the balance sheet extension.

At the end of the reporting period, cash and cash equivalents were below the previous year's level (EUR 101.0 million) at EUR 46.3 million.

Based on the high order backlog and the positive business development after nine months, we expect the financial position to continue to develop well and confirm the outlook for the current fiscal year with respect to the key financial figures EBITDA and EBIT, which are expected to amount to EUR 97 million and EUR 60 million, respectively. Uncertainties currently exist with regard to the achievement of the guidance for the key performance indicator total revenues, which we had forecasted in January at EUR 1.205 billion. Possible delivery delays and the development of exogenous factors are anticipated to result in falling short of the guidance for this key performance indicator for the current financial year.