OHB SE: Consolidated financial statements 2022

Bremen (pta009/15.03.2023/08:00 UTC+1)

• Profitability figures EBITDA and EBIT exceed expectations at EUR 99 million and EUR 63 million (guidance: EUR 97 and 60 million respectively):
• Total revenues reach EUR 1,001 million
• EPS reach historic high, dividend recommendation amounts to EUR 0.60 (+25 %)

In fiscal year 2022, the OHB Group (ISIN: DE0005936124, Prime Standard) generated total revenues of EUR 1001.3 (previous year: EUR 916.5 million), while sales changed to EUR 944.5 million (previous year: EUR 905.0 million). Both key figures were again impacted by global supply chain difficulties and resulting delivery delays. The operating result (EBITDA) increased from EUR 83.6 million in the previous year to EUR 99.3 million. The operating EBITDA margin thus rose to 9.9 % in the reporting period, compared to 9.1 % in the previous year. EBIT improved to EUR 63.2 million, compared to EUR 47.0 million in the previous year. The corresponding EBIT margin increased accordingly from 5.1 % in the same period of the previous year to 6.3 % and thus exceeded 6 % for the first time since fiscal year 2009. The share of OHB SE shareholders in net profit reached EUR 32.2 million (previous year: EUR 27.5 million) and earnings per share thus increased to EUR 1.97 (diluted and basic) for fiscal year 2022, compared to EUR 1.58 in the previous year.

The operating cash flow amounted to EUR 9.1 million as of the balance sheet date (previous year: EUR -17.3 million), while the free cash flow increased slightly to EUR -14.1 million in the reporting period (previous year: EUR -15.5 million). Equity increased to EUR 293.5 million as of the balance sheet date (previous year: 252.6 million). Due to this development, the increase in total assets to EUR 1,080.7 million compared to the previous year's reporting date (EUR 960.8 million) resulted in an improved equity ratio of 27.2 % (previous year: 26.3 %).

At EUR 810.8 million, the unconsolidated total revenues of the SPACE SYSTEMS division were above the level of the previous year (EUR 755.9 million). The increased total revenues resulted in an improved operating result (EBITDA) of EUR 73.9 million (previous year: EUR 60.8 million). The segment's EBIT of EUR 48.2 million was also significantly higher than the previous year's figure of EUR 33.3 million. The EBIT margin in relation to the unconsolidated total revenues thus increased significantly from 4.4 % in the previous year to 5.9 % in fiscal year 2022.

At EUR 120.8 million, the unconsolidated total revenues of the AEROSPACE segment increased from the previous year's figure of EUR 97.4 million. The operating result (EBITDA) for this segment improved to EUR 13.1 million compared to the previous year EUR 7.5 million. This resulted in an also significantly increased EBIT of EUR 5.5 million (previous year: EUR 0.5 million). The EBIT margin in relation to the unconsolidated total revenues thus reached 4.6 %, compared to 0.5 % in the previous year.

The unconsolidated total revenues of the DIGITAL reporting segment amounted to EUR 105.7 million (previous year: EUR 101.0 million). The operating result (EBITDA) for this segment reached EUR 13.3 million after EUR 16.1 million in the previous year, while EBIT amounted to EUR 10.7 million (previous year: EUR 14.0 million). The EBIT margin in relation to the unconsolidated total revenues consequently reached 10.1 % after 13.9 % in the previous year, which was positively influenced by a one-off effect in one customer project.

The Management Board and Supervisory Board will propose to the Annual General Meeting an increased dividend of EUR 0.60 per share (previous year: EUR 0.48) for the fiscal year 2022. The Group's cash and cash equivalents amounted to EUR 106.1 million as of December 31, 2022 (previous year: EUR 96.6 million).

The Group's firm order backlog remains at a good level and stood at EUR 1,875 million, (previous year: EUR 2,121 million) as of the balance sheet date. The majority of the order backlog is represented by the SPACE SYSTEMS segment with a value of EUR 1,588 million, the order backlog in the AEROSPACE segment amounts to EUR 153 million and the DIGITAL reporting segment has an order backlog amounting to EUR 134 million.

The Management Board expects the OHB Group's consolidated total revenues to amount to EUR 1.176 million in 2023, with EBITDA and EBIT reaching EUR 109 million and EUR 70 million respectively.

OHB SE's complete 2022 consolidated financial statements will be presented in detail at today's press conference in Bremen and the subsequent virtual analyst conference.

Key performance indicators at a glance

*) from continuing operations attributable to the ordinary equity holders of the parent entity
**) 2022: Subject to approval by the shareholders

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Emitter:	OHB SE Manfred-Fuchs-Platz 2-4 28359 Bremen Germany
Contact Person:	Investor Relations
Phone:	+49 421-2020 7200
E-Mail:	ir@ohb.de
Website:	www.ohb.de
ISIN(s):	DE0005936124 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate