16.11.2016
OHB SE DE0005936124
DGAP-News: OHB SE: Full-year guidance for 2016 confirmed; Order books a high EUR 1.6 billion; Total revenue of EUR 507 million achieved; EBITDA of EUR 37.5 million and EBIT of EUR 28.6 million at last year's level
DGAP-News: OHB SE / Key word(s): 9-month figures
OHB SE: Full-year guidance for 2016 confirmed; Order books a high EUR 1.6
billion; Total revenue of EUR 507 million achieved; EBITDA of EUR 37.5
million and EBIT of EUR 28.6 million at last year's level
16.11.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
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Bremen, November 16, 2016. OHB Group (ISIN: DE0005936124, Prime Standard)
achieved total revenues of EUR 507.1 million (previous year: EUR 534.3
million) after nine months. The OHB Group's total revenues are dependent on
the achievement of milestones and delivery dates for the individual
projects and are therefore not linear in nature. Postponements from one
reporting period to the next result in heavy quarter-on-quarter volatility
in total revenues during the year.
Operating earnings (EBITDA) at the end of the first nine months came to EUR
37.5 million and were thus virtually unchanged over the same period of the
previous year (EUR 37.4 million). The operating EBITDA margin widened to
7.4% at the end of the first nine months of 2016, compared with 7.0% in the
comparable prior-year period. EBIT came to EUR 28.6 million and was thus
also the same as in the previous year (EUR 28.7 million). As a result, the
EBIT margin widened from 5.4% in the previous year to 5.6%. The EBIT margin
on the Group's own substantially higher manufacturing input thus came to
8.9% in the first nine months, down from 9.9% in the previous year. The
increase in net finance expense over the same period in the previous year
from EUR 2.1 million to EUR 3.1 million reflects reduced interest income.
As a result, profit from ordinary business activities dropped slightly by
around 4% to EUR 25.4 million in the first nine months of 2016 (previous
year: EUR 26.6 million). With income tax virtually unchanged at EUR 8.1
million in the first nine months of 2016 (previous year: EUR 8.2 million),
the OHB Group recorded a decline of just under 6% in consolidated net
profit for the period to EUR 17.3 million (previous year: EUR 18.4
million).
At EUR 387.2 million, non-consolidated total revenues in the Space Systems
business unit were down roughly 5% on the first nine month of the previous
year (EUR 407.9 million). As a result, operating earnings (EBITDA) rose by
13% to EUR 24.7 million, up from EUR 21.8 million in the previous year.
Segment EBIT climbed by some EUR 2.8 million or 17% to EUR 19.2 million
(previous year: EUR 16.4 million). The EBIT margin relative to non-
consolidated total revenues also widened to around 5.0%, up from 4.0% in
the previous year. The EBIT margin relative to the segment's own
manufacturing input, contracted slightly to 9.2%, down from 9.5% in the
previous year, due to the sharp increase of around 21% in the segment's own
manufacturing input.
In the first nine months of 2016, non-consolidated total revenues in the
Aerospace + Industrial Products business unit declined by around 6% over
the year-ago period to EUR 123.3 million (previous year: 130.9 million).
Despite a roughly 14% drop in the cost of materials and services purchased
to EUR 54.8 million (previous year: EUR 63.6 million), operating earnings
(EBITDA) came to EUR 13.1 million, down 16% from EUR 15.7 million in the
previous year.
The lower segment EBIT of EUR 9.8 million (previous year: EUR 12.3 million)
was due to steady depreciation and amortisation expense. The EBIT margin
relative to the segment's own non-consolidated total revenues contracted to
7.9% (previous year: 9.4%). The EBIT margin relative to the segment's own
manufacturing input, which declined by a good 3%, narrowed to 8.7%, down
from 10.5% in the previous year.
At the end of the first nine months of 2016, the firm orders held by the
OHB Group were valued at EUR 1,601 million, down from EUR 1,684 million as
of December 31, 2015. Of this, OHB System AG accounted for EUR 1,145
million or a good 71%.
At EUR 61.5 million at the end of the period under review, cash and cash
equivalents (net of securities) were thus substantially up on the end of
the same period in the previous year (EUR 34.4 million). Total consolidated
assets increased by EUR 85.4 million or around 13% over December 31, 2015
(EUR 638.7 million) to EUR 724.1 million as of September 30, 2016.
Consolidated equity expanded by EUR 15.0 million to EUR 183.7 million.
Accordingly, the equity ratio came to 25% as of September 30, 2016 and was
thus virtually unchanged over December 31, 2015 (26%).
The Management Board expects consolidated total revenues of EUR 750 million
for 2016, accompanied by EBITDA of EUR 54 million and EBIT of 42 million.
Given the greater order backlog and upbeat outlook for the current year, we
assume that the Group's results of operations, financial condition and net
assets will also remain strong and reaffirm the full-year guidance issued
in February for 2016.
Key performance indicators at a glance
EUR (OOOs) +/- 9M
Q3 / 2015 Q3 / 2016 9M / 2015 9M / 2016 2016/2015
Sales 222,294 181,206 507,959 472,525 - 7.0 %
Total revenues 219,043 190,718 534,333 507,079 - 5.1 %
EBITDA 15,210 13,456 37,433 37,454 unchanged
EBIT 12,350 10,301 28,659 28,556 - 0.4 %
EBT 11,819 9,705 26,553 25,422 - 4.3 %
Consolidated
net profit
after
minority 7,255 6,359 15,936 15,421 - 0.3 %
interests
EPS in EUR 0.42 0.37 0.92 0.89 - 0.3 %
Cash and
cash
equivalents
incl. 38,076 62,454 38,076 62,454 + 64.0 %
securities
The interim report for Q3/9M 2016 and further Information are available at:
www.ohb.de
Contact:
Investor Relations
Martina Lilienthal
Tel.: +49 421 - 2020-720
Fax: +49 421 - 2020-613
E-Mail: [email protected]
Corporate Communications
Martin Stade
Tel.: +49 421 - 2020-620
Fax: +49 421 - 2020-9898
E-Mail: [email protected]
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16.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: OHB SE
Karl-Ferdinand-Braun-Str. 8
28359 Bremen
Germany
Phone: +49 (0)421 2020 8
Fax: +49 (0)421 2020 613
E-mail: [email protected]
Internet: www.ohb.de
ISIN: DE0005936124
WKN: 593612
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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