OHB AG: Total revenues up 15% to EUR 367.5 million (previous year: EUR 319.5 million)

OHB AG / Key word(s): Quarter Results

09.11.2011 / 07:10

---------------------------------------------------------------------

  - Total revenues up 15% to EUR 367.5 million (previous year: EUR 319.5
    million)

  - EBITDA up 26% to EUR 27.5 million (previous year: EUR 21.8 million)

  - EBIT up 16% to EUR 16.4 million (previous year: EUR 14.1 million)

Bremen, November 9, 2011. In the first nine months of 2011, the OHB Group's
(Prime Standard, ISIN: DE0005936124) total revenues rose by EUR 48.0
million or 15% over the same period in the previous year to EUR 367.5
million.

At EUR 202.8 million, the cost of materials increased slightly in the first
nine months of 2011, translating into a cost-of-materials ratio of 55%,
compared with 62% in the previous year. The Group headcount increased by
672 chiefly due to new recruitments at OHB System and Kayser-Threde as well
as first-time consolidation (Aerotech Peissenberg and OHB Sweden), causing
staff costs to rise by 41% to EUR 110.1 million. EBITDA climbed in the
first nine months of 2011 by EUR 5.7 million or 26% to EUR 27.5 million.
After depreciation/amortization expense, which was up 45% over the previous
year particularly due to consolidation effects, EBIT came to EUR 16.4
million, equivalent to an increase of 16% over the previous year. Net
finance expense rose by EUR 3.8 million to EUR 5.6 million in the first
nine months. At around EUR 10.8 million, profit from ordinary business
activities was therefore down EUR 1.5 million on the previous year, which
had been inflated by positive non-recurring factors, despite the growth in
the Group's operating business. After income tax expense, which was up EUR
0.6 million on the previous year, the OHB Group earned net consolidated
profit for the period of EUR 8.2 million, i.e EUR 2.1 million less than in
the same period in the previous year. At EUR 8.3 million, the net profit
for the period attributable to OHB's shareholders after non-controlling
interests was EUR 1.5 million down on the same period in the previous year.

In the first nine months of 2011, non-consolidated total revenues in the
Space Systems business unit climbed by EUR 27.4 million or 12% over the
year-ago period to EUR 250.9 million. This growth was chiefly related to
the successful commencement of the Galileo* project. The cost of materials
and services purchased increased in absolute terms by EUR 5.8 million to
EUR 164.2 million due to further advance outlays, translating into a
cost-of materials ratio of 65%, compared with 71% in the previous year.
EBIT improved by EUR 2.7 million or 29%, rising to EUR 12.0 million. The
EBIT margin in this segment relative to non-consolidated total revenues
thus widened to 4.8%, up from 4.2% in the previous year. At 8.7%, the EBIT
margin relative to the segment's own manufacturing input fell short of the
year-ago level of 9.7% due to higher other operating expenses.

In the Aerospace + Industrial Products business unit non-consolidated total
revenues in the first nine months of 2011 at EUR 138.5 million were up EUR
30.9 million or 29% on the year-ago period mostly due to the first-time
consolidation of Aerotech Peissenberg. The cost of materials ratio
contracted to 44%, down from 53% in the year-ago period. EBIT climbed by
EUR 1.7 million to EUR 2.5 million, with the EBIT margin widening to 1.8%,
up from 0.7% in the same period of the previous year. The EBIT margin
relative to the segment's own manufacturing input rose from 0.8% in the
previous year to 2.0% in the period under review.

At the end of the first nine months of 2011, the firm orders held by the
OHB Group were valued at EUR 1.116 billion and thus EUR 129 million down on
the figure for the previous year (EUR 1.245 billion), which had been
inflated substantially by a large-scale contract.

As of September 30, 2011, the OHB Group's total assets were up 25% or EUR
118.3 million compared with December 31, 2010, rising to EUR 584.7 million.
On the assets side of the balance sheet, non-current assets contributed EUR
16.5 million and current assets EUR 101.5 million to this increase. On the
other side of the balance sheet, the increase was chiefly due to
prepayments received (EUR 77.8 million), current and non-current provisions
(EUR 20.3 million) and financial liabilities (EUR 17.1 million). The equity
ratio contracted to 18% as of September 30, 2011 due to the increase in
total assets, down from 23% as of December 31, 2010.

The OHB Group reaffirms its earlier forecast of an increase in EBITDA to
more than EUR 41 million. EBIT should also climb to over EUR 27 million in
2011. Thanks to improved margins, the earnings targets should be achieved
even if total revenues are somewhat lower than previously expected.

Despite the high order backlog and resultant favorable capacity utilization
across the Group as a whole, it is currently too early to provide any
precise guidance for 2012. Even so, it is predictable that an increase of
the most important earnings key figures can be expected also for 2012.
 
* The OHB project forms part of the Galileo program, which has been
initiated and is being funded by the European Union (EU). The European
Space Agency (ESA) is acting on behalf and in the name of the EU. 'Galileo'
is a registered trademark owned by the EU and ESA and registered under OHIM
application number 002742237.

Key performance indicators at a glance


(EUR 000s)                                                          +/- 9M
                        Q3 / 2010  Q3 / 2011  9M / 2010  9M / 2011  2011/10
Sales                    114,255    133,859    281,445    343,108   +21.9 %
Total revenues           126,884    129,115    319,466    367,511   +15.0 %
EBITDA                     7,503     11,479     21,807     27,544   +26.3 %
EBIT                       4,969      7,377     14,116     16,384   +16.1 %
EBT                        6,682      4,889     12,306     10,801   -12.2 %
Net profit for the
period after minority      
interests                  6,149      3,661      9,779      8,347   -14.6 %
EPS in EUR                  0.35       0.21       0.56       0.48   -14.3 %
Cash and cash
equivalents
incl. securities          73,644    117,947     73,644    117,947   +60.2 %





The nine-month report 2011 and further Information are available at: 
www.ohb.de


Contact:
Investor Relations
Michael Vér
Tel.: +49 421 - 2020-727
Fax: +49 421 - 2020-613
E-Mail: michael.ver@ohb.de


Corporate Communications
Steffen Leuthold
Tel.: +49 421 - 2020-620
Fax: +49 421 - 2020-9898
E-Mail: steffen.leuthold@ohb.de


End of Corporate News

---------------------------------------------------------------------

09.11.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------


Language:    English                                               
Company:     OHB AG                                                
             Karl-Ferdinand-Braun-Str. 8                           
             28359 Bremen                                          
             Germany                                               
Phone:       +49 (0)421 2020 8                                     
Fax:         +49 (0)421 2020 613                                   
E-mail:      ir@ohb.de                                             
Internet:    www.ohb.de                                            
ISIN:        DE0005936124                                          
WKN:         593612                                                
Listed:      Regulierter Markt in Frankfurt (Prime Standard);      
             Freiverkehr in Berlin, Düsseldorf, Hamburg, München,  
             Stuttgart                                             
 
 
End of News    DGAP News-Service  
---------------------------------------------------------------------  
145329 09.11.2011