OHB SE — Earnings Release 2006

Aug 10, 2006

News Details

Corporate | 10 August 2006 07:05

OHB Technology AG: OHB Technology AG earnings increased to 46 cents per share for the first half 2006 (previous year: 16 cents)

Corporate news transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— – OHB Technology AG earnings increased to 46 cents per share for the first half 2006 (previous year: 16 cents) – Total revenues of EUR 85.5 million well up on the previous year (EUR 33.0 million) – Order backlog on record high of EUR 440 million – EBIT for the FY 2006 will be higher than the EUR 13-14 million previously expected Bremen, August 10, 2006. The OHB Technology AG Group (Prime Standard, ISIN: DE0005936124) took also benefit in the second quarter 2006 from the successful acquisition and integration of MT Aerospace AG. Order books, total revenues and earnings in the Group are entering new dimensions. OHB Group’s total revenues came to EUR 85.5 million in the first six months of the year, substantially exceeding the previous year’s figure (EUR 33.0 million), which does not include MT Aerospace AG. Deserving of special mention is the increase in total revenues in the second quarter of 2006 to EUR 48.6 million (previous year: EUR 18.3 million excluding MT Aerospace), up from EUR 36.9 million in the first quarter. Due to income of EUR 7.0 million through the takeover of a non-Group liability of an OHB Technology AG subsidiary, all earnings levels improved significantly. In the first six months of 2006, the Group including MT Aerospace generated EBITDA of EUR 15.6 million (previous year: EUR 4.7 million) and EBIT of EUR 12.0 million (previous year: EUR 3.0 million). The net income for the period of EUR 6.8 million exceeds the year-ago figure of EUR 2.3 million substantially and translates into earnings per share for the first half of 2006 of EUR 0.46, up from EUR 0.16 in the first half of 2005. The year-on-year twofold increase of around EUR 37.0 million in cash and cash equivalents to EUR 73.0 million at the Group level as of June 30, 2006 is essentially due to the integration of MT Aerospace AG. Firm orders were valued at EUR 440.0 million as of June 30, 2006, with the orders of EUR 317.0 million held by MT Aerospace making a key contribution after consolidation. OHB Technology AG’s like-for-like order backlog as of June 30, 2006 based on the previous year’s corporate structure came to EUR 123.0 million and was also up on the previous year (EUR 111.4 million). Unconsolidated total revenues in the Space Systems + Security business unit stood at EUR 24.0 million and were thus down on the previous year’s figure of EUR 28.7 million. This resulted in a correspondingly smaller EBIT margin of 7.0% versus 8.2% in the previous year despite a reduced cost-of-materials ratio of around 56% (previous year: just under 61%). With unconsolidated total revenues of EUR 49.5 million in the first six months of 2006, the new Space Transportation + Aerospace Structure business unit, which was created following the acquisition of MT Aerospace AG, dominates the Group. EBITDA of EUR 4.8 million and a substantial rise in EBIT to EUR 2.8 million reflect the steady improvement in the bottom line as well as the return to sustained profitability at MT Aerospace AG. The Telematics and Satellite Operations business unit posted unconsolidated total revenues of EUR 6.7 million in the first six months of 2006, thus exceeding the year-ago period by just under 11 % (EUR 6.0 million). EBITDA fell to EUR 1.1 million (previous year: EUR 1.4 million) on account of a substantial increase in the cost of materials. Continued high depreciation and amortization expense on a par with the previous year resulted in EBIT of around EUR 0.5 million (previous year: EUR 0.8 million). This year, the Management Board expects the OHB Group including MT Aerospace AG to post consolidated total revenues of around EUR 175 million, with all business units making higher topline contributions compared with 2005. Due to income of EUR 7.0 million through the takeover of a non-Group liability of an OHB Technology AG subsidiary, EBIT for the full year 2006 will be higher than the EUR 13-14 million previously expected. Cash and cash equivalents will remain at a high level in fiscal 2006. Key figures at a Q2 / Q2 / H1 / H1 / +/- H1 glance (EUR 000) 2005 2006 2005 2006 2006/05 Sales 17,385 39,452 29,846 70,977 + 138 % Total revenues 18,333 48,594 33,000 85,530 + 159 % EBITDA 2,560 10,719 4,658 15,640 + 236 % EBIT 1,765 8,906 3,048 12,015 + 294 % EBT 2,028 8,681 3,648 11,997 + 229 % Net income 1,216 5,077 2,336 6,793 + 191 % EPS in EUR 0.08 0.34 0.16 0.46 + 188 % Cash and cash 36,033 73,001 36,033 73,001 + 103 % equivalents For further information please contact: OHB Technology AG Michael Vér, Investor Relations Tel.: +49 (0)421 2020-727 (c)DGAP 10.08.2006 ————————————————————————— Language: English Issuer: 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 WWW: www.ohb-technology.de ISIN: DE0005936124 WKN: 593612 Indices: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, München, Hamburg, Düsseldorf, Stuttgart End of News DGAP News-Service —————————————————————————