OHB Technology AG / Final Results

18.03.2010 07:06

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- Net income 2009 increased by 65 % to EUR 14.9 million (previous year EUR 9.0 million)

- Earnings per share (EPS) raised to 96 cents (previous year 61 cents)

- Total revenues grow to EUR 322 million (previous year EUR 260 million)

- Constant dividend proposal of 25 cents per share maintained in 2009

- Further growth expected for 2010 with respect to total revenues and operating profit

Bremen, March 18, 2010. The Management Board of OHB Technology AG (Prime Standard, ISIN: DE0005936124) presents the audited consolidated financial statements 2009 at today's annual press conference in Bremen.

OHB Technology AG looks back on a successful fiscal year 2009. All business units showed a positive performance. The Group's total revenues gained EUR 62 million or 24 % to roughly EUR 322 million (previous year EUR 260 million); revenues also exceeded the prior-year level by 24 %, at EUR 287 million (previous year EUR 232 million). It has to be taken into consideration here that Carlo Gavazzi Space S.p.A. was included in the consolidated financial statements by way of full consolidation as of October 1, 2009 for the first time and that KT Automotive GmbH was excluded from the basis of consolidation as of October 31, 2009. In the reporting period, an EBITDA of 31.7 million and an EBIT of EUR 20.8 million were achieved.

'We keep expecting an increase in total revenues of about EUR 100 million to between EUR 420 and 440 million for the current fiscal year 2010', says Marco R. Fuchs, CEO of OHB Technology AG, in confirming the Group's positive prospects.

Non-consolidated total revenues of the business unit Space Systems + Security amounted to EUR 89.9 million in the year 2009 (previous year EUR 59.5 million). Non-consolidated revenues went up to EUR 88.7 million (previous year EUR 56.0 million), and the EBIT came to EUR 3.4 million (previous year EUR 3.8 million). The business activity of OHB-System AG is set apart by long-term oriented projects awarded mostly by public-sector principals. The excellent order backlog of roughly EUR 200 million as of December 31, 2009 - and currently beyond EUR 700 million - means high planning security over long time periods and sustainable growth.

The business division Payloads + Science generated non-consolidated total revenues in the amount of EUR 64.3 million in the year 2009 (previous year EUR 44.2 million) and revenues of roughly EUR 62.0 million (previous year EUR 43.2 million). A substantial contribution to this increase in total revenues and revenues was made by the project progress within the scope of satellite projects EnMAP and TET. The EBIT reached EUR 4.1 million (previous year EUR 2.2 million).

In the course of the acquisition of Carlo Gavazzi Space, the new business unit Space International came into being within the OHB Technology Group, enhancing the Group's portfolio since October 1, 2009. This division combines the space activities outside of Germany. Furthermore, the new business unit integrates the investments LUXSPACE Sàrl and ELTA, which were part of the division Space Systems + Security until December 31, 2008. In the year 2009, the business unit generated non-consolidated total revenues of EUR 19.9 million, non-consolidated revenues of EUR 17.7 million, and an EBIT of EUR 3.7 million.

The business division Space Transportation + Aerospace Structures achieved non-consolidated total revenues of EUR 151.0 million in 2009 (previous year EUR 140.4 million), non-consolidated revenues came to EUR 123.2 million (previous year EUR 123.7 million). The EBIT before consolidation was EUR 10.6 million in the year under review (previous year EUR 11.7 million).

The non-consolidated total revenues 2009 in the business unit Telematics + Satellite Operations of EUR 18.6 million were slightly below the prior-year period's amount (EUR 19.3 million). Non-consolidated revenues came to EUR 17.1 million (previous year EUR 12.6 million), and the EBIT of roughly EUR 0.7 million kept up the prior-year level.

The continuous increase of the result from operations since the IPO in the year 2001 was continued in fiscal year 2009. Earnings before interest, taxes, depreciation and amortization (EBITDA) climbed slightly more than 10% to EUR 31.7 million in the year 2009 (previous year EUR 28.7 million). Earnings before interest and taxes (EBIT) recorded an increase by slightly more than 11% to EUR 20.8 million in the year under review (previous year EUR 18.7 million). The net income of roughly EUR 14.9 million in fiscal year 2009 (previous year EUR 9.0 million) results in earnings per share of 96 cents, up 57% (previous year 61 cents).

Management Board and Supervisory Board will propose to the Annual General Meeting a constant dividend in the amount of 25 cents per share for the year 2009. A dividend distribution for current fiscal year 2010 is scheduled for next year as well. The Group's traditionally high liquidity (incl. securities) amounted to EUR 82.0 million as of December 31, 2009 (previous year EUR 67.1 million).

The order backlog of EUR 834 million as of December 31, 2009 (previous year EUR 534 million) represented a new record high already. On January 26, 2010, following the signing of the contract with the EU or rather with ESA on the construction of 14 Galileo satellites, the order backlog rose beyond EUR 1,300 million. Thus a high level of planning security and a high degree of operating capacity utilization of all business units continue to be guaranteed. For the current fiscal year 2010, the Management Board expects a further increase of the EBITDA to between EUR 32 and 35 million and an increase of the operating EBIT to between EUR 22 and 24 million.

The complete consolidated financial statements 2009 of OHB Technology AG will be explained in detail at today's (March 18, 2010) annual press conference in Bremen and the subsequent analysts' conference held in Frankfurt/Main.

Annual press conference at 8:30 a.m. on March 18, 2010 on the premises of OHB Technology AG in Bremen

Analysts' conference (DVFA) at 2:00 p.m. on March 18, 2010 on the premises of DZ Bank AG, Frankfurt/Main

Overview of key financial 2006 2007 2008 2009 +/- figures (EUR'000) 2009/08 Revenues 163,147 218,801 232,473 287,164 + 24 % Total revenues 185,699 223,340 260,029 321,818 + 24 % EBITDA 27,936 25,903 28,736 31,659 + 10 % EBIT 20,428 17,486 18,708 20,771 + 11 % EBT 21,982 18,373 16,092 18,039 + 12 % Net income 12,016 12,478 8,998 14,860 + 65 % EPS in EUR 0.81 0.84 0.61 0.96 + 57 % Dividend per share*) in EUR 0.23 0.25 0.25 0.25 +/- 0 Liquid assets (incl. 89,502 73,058 67,077 82,005 + 22 % securities) *) 2009 proposal to the AGM

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

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

18.03.2010 07:06 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at www.dgap-medientreff.de and www.dgap.de



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

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