DGAP-News: OHB AG: Total revenues increase by 23% to EUR 555 million in 2011
(firmenpresse) - DGAP-News: OHB AG / Key word(s): Final Results
OHB AG: Total revenues increase by 23% to EUR 555 million in 2011
15.03.2012 / 07:15
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- Total revenues increase by 23% to EUR 555 million in 2011, sales by 31%
to EUR 556 million
- Operating income (EBITDA) increases by 28% to EUR 43.1 million,
operating profit (EBIT) by 20% to EUR 27.3 million
- Earnings per share of EUR 0.78 (+ 42%)
- Proposed 17% dividend increase to 35 cents per share
Bremen, March 15, 2012. The Management Board of OHB AG (ISIN: DE0005936124,
Prime Standard) presented the audited 2011 consolidated financial
statements at today's annual accounts press conference in Bremen.
In the 2011 financial year, the OHB Group once again exceeded the record
values of the previous year for sales, total revenues, EBITDA and EBIT.
Sales increased to EUR 556 million (previous year: EUR 425 million). The
total revenues of the OHB Group increased by EUR 102 million to a total of
EUR 555 million in the reporting period. Here the companies Aerotech
Peissenberg GmbH&Co. KG and OHB Sweden AB that were included in the
consolidated financial statements for the first time also had an impact.
'We expect a further increase in total revenues by around EUR 65 million to
more than EUR 620 million in the current 2012 financial year,' said Marco
R. Fuchs, CEO of OHB AG, affirming the Group's positive outlook, and added:
'Both divisions of the company will contribute to growth with an increase
in total revenues compared to 2011.'
EBITDA increased by 28% to a total of EUR 43.1 million (previous year: EUR
33.7 million), with a 20% increase in operating profit (EBIT) to EUR 27.3
million in the reporting period (previous year: EUR 22.7 million).
Consolidated net profit after minority interests in the amount of EUR 13.5
million (previous year: EUR 9.6 million) resulted in earnings per share of
EUR 0.78 (diluted and undiluted) in the 2011 financial year compared to EUR
0.55 in the previous year.
As measures of operating performance, EBITDA and EBIT are also expected to
significantly exceed the values for the previous year in 2012 at more than
EUR 46 million (+7%) and more than EUR 30 million (+11%) respectively. The
OHB Group expects a significant increase in these figures in the 'Aerospace
+ Industrial Products' business unit in particular.
Orders and the ongoing business in the 'Space Systems' business unit also
developed very favorably. Unconsolidated total revenues amounted to EUR
368.5 million in 2011 (previous year: EUR 304.8 million). This highly
positive trend is mainly due to advancements in the satellite programs.
EBIT before consolidation in the business unit increased by EUR 12.0
million to EUR 25.1 million and therefore nearly doubled. The EBIT margin
in relation to unconsolidated total revenues improved by 6.8% compared to
4.3% in the previous year. In relation to own value added, the EBIT margin
at 15.3% was significantly above the previous year value of 11.3%. The
favorable development of major projects had a particularly positive impact
here.
Unconsolidated total revenues of the 'Aerospace + Industrial Products'
business unit at EUR 195.3 million in the 2011 financial year exceed the
previous year by EUR 42.3 million or 28%, largely because of the first-time
consolidation of Aerospace Peissenberg. EBIT for the business unit was EUR2.2 million (previous year: EUR 5.3 million). This corresponds to an EBIT
margin of 1.1% (previous year: 3.5%). The margin decrease is primarily due
to the first-time consolidation of Aerotech Peissenberg GmbH&Co. KG and
the unfavorable business development of the company in the last ten months
after becoming part of the Group. Restructuring measures introduced during
this time are expected to improve the overall situation in 2012.
The Management Board and Supervisory Board will propose an increase in the
dividend for the 2011 year to 35 cents per share to the annual general
meeting. The Company also plans to distribute a dividend for the current
2012 financial year. As of December 31, 2011 the liquidity of the Group
(including securities), which has traditionally been high, was EUR 99.8
million (previous year: EUR 92.8 million).
The order backlog of EUR 1,046 million (previous year: EUR 1,160 million)
remains very high and is largely due to the successful acquisition of
projects in the years 2010 and 2011. The 'Space Systems' business unit
accounts for EUR 615.2 of order backlog while orders of the 'Aerospace +
Industrial Products' business unit amounted to EUR 431.0 million on the
balance sheet date. A high level of planning reliability is assured for the
future and high operational capacity utilization is guaranteed in all
business units.
The full 2011 consolidated annual financial statements of OHB AG will be
discussed in detail at today's (March 15, 2012) annual accounts press
conference in Bremen and the subsequent analyst conference in
Frankfurt/Main.
Annual accounts press conference at 8:30 am on March 15, 2012
at the premises of OHB AG in Bremen
Analyst conference (DVFA) at 2:00 pm on March 15, 2012
at the premises of DZ Bank AG, Frankfurt/Main
Overview of key +/-*) 2011: Proposal for the annual general meeting
indicators (EUR thousand) 2008 2009 2010 2011 2011/10
Sales 232,473 287,164 425,448 555,689 30.6%
Total revenues 260,029 321,818 453,323 555,292 22.5%
EBITDA 28,736 31,659 33,688 43,101 28.0%
EBIT 18,708 20,771 22,730 27,276 20.0%
EBT 16,092 18,039 15,384 19,517 26.9%
Net profit for the period
after minority interests 8,998 14,860 9,642 13,523 40.2%
EPS in EUR 0.61 0.96 0.55 0.78 41.8%
Dividend per share
in EUR*) 0.25 0.25 0.30 0.35 16.7%
Cash and cash equivalents
including securities 67,077 82,005 92,798 99,778 7.5%
Contact:
Investor Relations
Michael Vér
Tel.: +49 421 - 2020-727
Fax: +49 421 - 2020-613
E-Mail: michael.ver(at)ohb.de
Corporate Communications
Steffen Leuthold
Tel.: +49 421 - 2020-620
Fax: +49 421 - 2020-9898
E-Mail: steffen.leuthold(at)ohb.de
End of Corporate News
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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(at)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
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