DGAP-News: OHB AG: Total revenues up 14 % to a record level of EUR 143.6 million * Firm order book continuously on high level at EUR 1.6 billion * Forecast for all earnings-relevant ratios confirmed
(firmenpresse) - DGAP-News: OHB AG / Key word(s): Quarter Results
OHB AG: Total revenues up 14 % to a record level of EUR 143.6 million
* Firm order book continuously on high level at EUR 1.6 billion *
Forecast for all earnings-relevant ratios confirmed
15.05.2013 / 07:31
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- Total revenues up 14 % to a record level of EUR 143.6 million
- EBITDA reaches EUR 10.4 million (previous year: EUR 12.6 million)
EBIT comes up to EUR 6.6 million (previous year: EUR 8.9 million)
- Firm order book continuously on high level at EUR 1.6 billion
(previous year: EUR 1.2 billion)
- Forecast for all earnings-relevant ratios confirmed
Bremen, May 15, 2013. In the first three months of 2013, the OHB Group's
(Prime Standard, ISIN: DE0005936124) total revenues rose by 14 % over the
previous year to EUR 143.6 million. With an increase of EUR 16.8 million in
non-consolidated total revenues to EUR 92.6 million, the Space Systems
business unit materially drove the Group's growth. The second business unit
Aerospace + Industrial Products recorded non-consolidated total revenues of
EUR 52.9 million, slightly above previous year's EUR 52.5 million.
At EUR 80.0 million, the cost of materials climbed by 25.7 % year on year
in the period under review due to the execution and integration of current
projects as scheduled. The increase of 6 % in personnel costs to EUR 43.1
million was chiefly due to the addition of 101 new employees to the Group
headcount.
At EUR 10.4 million, EBITDA at the end of the first three months of 2013
was down EUR 2.3 million or 18 % on the same period in the previous year
chiefly as a result of higher advance outlays. As the depreciation and
amortization expense of EUR 3.8 million was barely unchanged over the year
(EUR 3.7 million), EBIT also dropped by EUR 2.3 million or 26 % to EUR 6.6
million. Net finance expense contracted by EUR 0.1 million over the
previous year to EUR 1.3 million. At EUR 5.2 million, profit from ordinary
business activities at the end of the first three months of 2013 was down
EUR 2.3 million or 30 % on the same period in the previous year. After
income tax expense, which dropped from EUR 2.8 million in the previous year
to EUR 1.8 million, the OHB Group earned net consolidated profit for the
period of EUR 3.5 million, i.e. EUR 1.3 million lower than in the same
period in the previous year. The net consolidated profit for the period
attributable to OHB's shareholders after non-controlling interests declined
by 22 % over the same period in the previous year to EUR 3.4 million.
In the first three months of 2013, non-consolidated total revenues in the
Space Systems business unit climbed by EUR 16.8 million or 22 % over the
year-ago period to EUR 92.6 million. At the same time, the cost of
materials and services purchased increased by a disproportionately strong
EUR 15.9 million or 38 % to EUR 57.4 million. Segment EBIT dropped by EUR
0.7 million or 11 % to EUR 5.4 million primarily as a result of the
increased advance outlays. The EBIT margin relative to non-consolidated
total revenues contracted to 5.9 %, down from 8.1 % in the previous year.
The EBIT margin relative to the business unit's own manufacturing input
declined from 14.1 % in the previous year to 12.3 % in the period under
review.
In the first three months of 2013, non-consolidated total revenues in the
Aerospace + Industrial Products business unit climbed marginally by EUR 0.4
million or 1 % over the year-ago period to EUR 52.9 million. The cost of
materials and services purchased increased only slightly from EUR 23.7
million in the year-ago period to EUR 24.0 million in the period under
review. All told, the increased cost of materials, higher depreciation and
amortization expenses and other advance outlays caused segment EBIT to
contract by EUR 1.6 million to EUR 1.1 million, with the EBIT margin
relative to non-consolidated total revenues narrowing to 2.1 %, down from
5.2 % in the same period of the previous year. The EBIT margin relative to
the business unit's own manufacturing input declined to 2.3 % from 5.7 % in
the previous year.
At the end of the first three months of 2013, the firm orders held by the
OHB Group were valued at EUR 1.559 billion, up from EUR 1.246 billion in
the previous year. Of this, OHB System AG accounted for EUR 1.097 billion
or around 70 %.
Cash and cash equivalents (net of securities) were down EUR 72.0 million on
the previous year as expected, standing at EUR 88.2 million at the end of
the period under review as the prepayments already received were used in
the production and integration phase of ongoing projects as planned. Total
consolidated assets increased marginally to EUR 541.4 million as of March
31, 2013 (December 31, 2012: EUR 538.8 million). The equity ratio increased
to 23 % as of March 31, 2013, up from 22 % as of December 31, 2012.
The Management Board expects continued growth in 2013, with the OHB Group's
consolidated total revenues climbing to more than EUR 700 million,
underpinned by both business units, whose total revenues will be up on 2012
levels. At over EUR 53 million and EUR 36 million respectively, EBITDA and
EBIT will also be up on the previous year in 2013. It should be expressly
noted in connection with forward-looking statements that actual events may
differ materially from expectations of future performance.
Key performance indicators at a glance
Key performance indicators 3M +/-
at a glance (EUR 000s) Q1/2012 Q1/2013 2013/13
Sales 108,151 131,658 21.7 %
Total revenues 126,372 143,625 13.7 %
EBITDA 12,631 10,365 -17.9 %
EBIT 8,892 6,562 -26.2 %
EBT 7,498 5,231 -30.2 %
Net profit for the period
after minority interests 4,308 3,362 -22.0 %
EPS in EUR 0.25 0.19 -24.0 %
Cash and cash equivalents
incl. securities 168,829 93,075 -44.9 %
The three-month interim report 2013 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: martina.lilienthal(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
GermanyPhone: +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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211122 15.05.2013
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Datum: 15.05.2013 - 07:31 Uhr
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