EQS-News: OHB SE: 9-month interim report 2023

OHB SE: 9-month interim report 2023

• Total revenues of EUR 737 million mark all-time high
• Profitability figures EBITDA and EBIT reach EUR 64 million and EUR 37 million respectively
• Offer phase of the tender offer for OHB shares successfully completed,
  KKR and the Fuchs family will together hold around 94 % of all OHB shares after completion of the transaction

Bremen, 9. November 2023. The OHB Group (ISIN: DE0005936124, Prime Standard) generated total revenues of EUR 737.0 million in the first nine months, up 6 % on the previous year (EUR 694.5 million). The operating result (EBITDA) decreased from EUR 68.0 million in the previous year to EUR 64.1 million. The operating EBITDA margin thus declined to 8.7 % in the reporting period, compared to 9.8 % in the same period of the previous year. EBIT deteriorated to EUR 36.9 million in the first nine months of the current fiscal year, compared to EUR 41.4 million in the previous year. The corresponding EBIT margin decreased accordingly to 5.0 %, compared to 6.0 % in the same period of the previous year. These figures do not include any adjustments for negative one-off effects in connection with the KKR transaction and other charges.

The Group's firm order backlog stood at EUR 1,742 million after nine months of fiscal year 2023, down from EUR 1,859 million in the previous year. Of this amount, EUR 1,465 million is attributable to the SPACE SYSTEMS segment, EUR 136 million to the AEROSPACE segment and EUR 141 million to the DIGITAL segment. As of September 30, 2023, the OHB Group's total assets stood at EUR 1,107.6 million, up around 2 % from December 31, 2022 (EUR 1,080.7 million). The increase in equity from EUR 293.5 million to EUR 301.2 million resulted in an equity ratio of 27.2 % as of September 30, 2023, unchanged from the end of the year on December 31, 2022.

The additional acceptance period for KKR's voluntary public takeover offer for all outstanding shares in OHB SE ended on November 3, 2023. A total of 3,592,391 shares were tendered under this offer, which, including the shares acquired by KKR on the market, corresponds to approximately 21.5 % of all OHB shares and approximately 77.5 % of all shares not held by the Fuchs family or by OHB as treasury shares. OHB SE's Management Board considers this result to be very positive. After completion of the planned capital increase and the takeover offer, KKR and the Fuchs family will hold a combined total of around 94 % of all shares.

In the SPACE SYSTEMS segment, significant progress was made on several major satellite projects in the past quarter, including the successful launch and commissioning of the Heinrich Hertz communications satellite. Important decisions for the activities in the AEROSPACE segment were recently made during the Space Summit 2023 held by the European Space Agency ESA in Seville: Further budget is to be made available for production in the Ariane 6 program as well as for certain players in the launcher sector. In the DIGITAL segment, we are participating in the growing demand for always-on connectivity, particularly in the area of vehicle-based applications, by investing in the start-up UNIO Enterprise GmbH.

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. At this point in time, the Management Board assumes that the financial position and net assets will continue to develop well and confirms the guidance regarding total revenues for the current fiscal year. There are currently uncertainties regarding the achievement of the forecasted full-year figures for EBITDA and EBIT. Various effects (delayed order intake, inflation-related cost increases, as well as transaction costs and other one-off effects), which have had a negative impact on profitability, might lead to the EBITDA and EBIT figures for the current fiscal year falling short of the guidance.

Key performance indicators at a glance

in EUR 000	Q3 2023	Q3 2022	9M 2023	9M 2022	+/- 9M
Revenues	274,812	240,200	718,558	664,467	+8 %
Total revenues	280,397	251,677	737,016	694,496	+6 %
EBITDA	19,989	25,206	64,103	68,042	-6 %
EBIT	10,924	15,920	36,885	41,359	-11 %
Share of OHB SE shareholders in net profit for the period	5,305	10,807	18,999	26,098	-27 %
Earnings per share in EUR	0.30	0.62	1.09	1.50	-27 %
Cash and cash equivalents	25,270	46,310	25,270	46,310	-45 %

Contact:
Martina Lilienthal
Head of Corporate Communications
and Investor Relations
Phone: +49 421 2020 7200
Email: martina.lilienthal@ohb.de