OHB SE: 6-months interim report 2021:

Bremen (pta013/11.08.2021/08:00 UTC+2) #
* Total revenues of EUR 402 million after six months (+2%),
* EBITDA rises to historic high of EUR 39.3 million (+7%),
* EBIT reaches EUR 21.4 million (+8%),
* EPS increases to EUR 71 cents (+15%)

Bremen, 11. August 2021. The OHB Group (ISIN: DE0005936124, Prime Standard) generated total revenues of EUR 402 million in the first six months, up 2% on the previous year (EUR 396 million). The operating result (EBITDA) increased from EUR 36.6 million in the previous year to EUR 39.3 million. The operating EBITDA margin thus rose to 9.8% in the reporting period, compared to 9.2% in the same period of the previous year. EBIT improved to EUR 21.4 million in the first six months of the current fiscal year, compared to EUR 19.9 million in the previous year. The corresponding EBIT margin increased accordingly to 5.3%, compared to 5.0% in the same period of the previous year. The EBIT margin on own value added improved slightly to 8.7% compared to the previous year (8.5%).

The financial result of EUR -2.5 million improved compared to the same period of the previous year, mainly due to lower financial expenses (previous year: EUR -3.8 million). Earnings before taxes (EBT) thus increased by 18% to EUR 18.9 million after the first six months of 2021 (previous year: EUR 16.1 million). Income taxes of EUR 7.2 million (previous year: EUR 5.4 million) resulted in a consolidated profit for the period of EUR 11.8 million in the reporting period 2021, which was 10% higher than in the previous year (EUR 10.7 million).

At EUR 325.8 million, the unconsolidated total revenues of the SPACE SYSTEMS division were slightly above the level of the first six months of the previous year (EUR 322.4 million). The increased total revenues nevertheless resulted in a reduced operating result (EBITDA) of EUR 28.9 million (previous year: EUR 34.9 million). The segment's EBIT of EUR 15.2 million was also significantly below the previous year's figure of EUR 22.1 million. The EBIT margin in relation to the unconsolidated total revenues thus decreased from 6.9% in the previous year to 4.7% in the reporting period.

The unconsolidated total revenues of the DIGITAL reporting segment, which is being reported for the first time in this financial year, amounted to EUR 51.8 million in the first six months of the year. The operating result (EBITDA) for this segment amounted to EUR 11.7 million and EBIT to EUR 10.7 million. The EBIT margin in relation to the unconsolidated total operating performance thus reached 20.7 %.

The Group's firm order backlog stood at EUR 2,483 million after six months of fiscal 2021, up from EUR 1,560 million in the previous year. Of this, OHB System AG accounted for almost 85% at EUR 2,100 million. As of June 30, 2021, the OHB Group's total assets stood at EUR 966.7 million, up just under 1% on December 31, 2020 (EUR 912.1 million). The increase in equity from EUR 223.3 million to EUR 238.8 million resulted in an equity ratio of 24.7% as of June 30, 2021, up from 24.5% at year-end on December 31, 2020.

At the end of the reporting period, cash and cash equivalents were slightly below the previous year's level (EUR 58.1 million) at EUR 55.6 million.

The Management Board expects the OHB Group to generate consolidated total revenues of EUR 1.0 billion in fiscal 2021, with EBITDA and EBIT reaching EUR 80 million and EUR 45 million, respectively. In view of the high order backlog and the positive outlook for the current fiscal year, the Management Board assumes that the financial condition and net assets will continue to develop well.

Key performance indicators at a glance

TEUR					+/- H1
	Q2 / 2020	Q2 / 2021	H1 / 2020	H1 / 2021	2020/2021
Revenues	195,055	204,782	370,062	393,412	6%
Total revenues	211,782	211,943	395,938	402,057	2%
EBITDA	17,32	19,053	36,591	39,299	7%
EBIT	8,78	10,035	19,874	21,409	8%
EBT	6,32	8,215	16,097	18,936	18%
Consolidated
net profit	4,165	4,822	10,662	11,778	10%
EPS in EUR	0.26	0.29	0.62	0.71	15%
Cash and cash equivalents at the end of the period	58,066	55,594	58,066	55,594	-4%

The 6-months interim report and further information are available at:
www.ohb.de

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