OHB SE — Earnings Release 2007

Aug 9, 2007

News Details

Corporate | 9 August 2007 07:15

OHB Technology AG: Total half-year revenues up to EUR 93.0 million (previous year: EUR 85.5 million)

OHB Technology AG / Half Year Results

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• Total half-year revenues up to EUR 93.0 million (PY: EUR 85.5 million)

• Result of operations increases in the first half-year by 65% to
  adjusted 28 cents per share (previous year, adjusted: 17 cents)

• Half-year earnings 2007 of 45 cents per share (previous year: 46 cents)

• Kayser-Threde takeover creates further potential for growth

Bremen, August 9, 2007. With the takeover of Kayser-Threde GmbH – the third
largest aerospace company in Germany – the Group OHB Technology AG (Prime
Standard, ISIN: DE0005936124) expands its product portfolio by the segment
Science + Payloads, improves the tapping of further development potential
and will be positioned upon an even broader base with altogether four
business units in the future.

Group performance, project and product results, orders received and order
backlog, sales, and key financial figures continue to record peak values
and the takeover of Kayser-Threde altogether present significantly brighter
prospects for the OHB Group than previously expected.

At EUR 93.0 million after six months, the OHB Group’s total revenues are
considerably above the prior-year amount (EUR 85.5 million). Particularly
noteworthy is the increase in total revenues in the second quarter of 2007
to EUR 52.6 million (previous year: EUR 48.6 million) despite positive
non-recurring income to the amount of roughly EUR 7.0 million in the second
quarter of the past year 2006 (previous year, adjusted: EUR 41.6 million),
as it is up on the total revenues of EUR 40.5 million generated in this
year’s first quarter as well.

The EBITDA of the second quarter of 2007 climbs to EUR 4.7 million (2006,
adjusted: EUR 3.7 million) in spite of a considerable increase in the cost
of materials according to higher sales figures. The EBIT reached an amount
of EUR 2.8 million (2006, adjusted: EUR 1.9 million). The net income for
the period came to EUR 4.6 million in the second quarter. Special items and
one-off effects amount to 17 cents per share in the second quarter of 2007
and 29 cents in the previous year. The adjusted earnings per share are 14
cents in the second quarter of 2007 (previous year, adjusted: 5 cents).

In the first six months of this fiscal year, the Group generated an EBITDA
of EUR 10.5 million (previous year: EUR 15.6 million) and an EBIT of EUR
6.7 million (previous year: EUR 12.0 million). The adjusted amounts are EUR
10.5 million (2006, adjusted: 8.6 million) for the EBITDA and EUR 6.7
million (2006, adjusted: EUR 5.0 million) for the EBIT.

The unconsolidated total revenues of the business unit Space Systems +
Security, at EUR 31.6 million significantly higher than the year before
(EUR 24.0 million), result in a considerably improved EBIT margin of 8.5%
as opposed to the prior-year value of 7.0% despite a slightly increased
cost of materials ratio of just under 59% (previous year: above 56%).

The business unit Space Transportation + Aerospace Structures keeps
dominating the Group performance with another increase in unconsolidated
total revenues which come to EUR 56.3 million in the first six months of
2007 (previous year: EUR 49.5 million). An EBITDA of EUR 5.8 million
(previous year: EUR 4.8 million) and a clearly increased EBIT to the amount
of EUR 4.0 million (previous year: EUR 2.8 million) result in corresponding
margin improvements for MT Aerospace AG.

After six months into 2007, the business unit Telematics + Satellite
Operations records unconsolidated total revenues of EUR 7.2 million
(previous year: EUR 6.7 million). Project delays and high product
development costs lead to an EBIT of roughly EUR 0.1 million (previous
year: EUR 0.5 million) and an EBITDA of EUR 0.8 million (previous year: EUR
1.1 million).

Net income for the first half of the year stands at EUR 6.7 million, i.e.
virtually unchanged over the year-ago period (EUR 6.8 million). As in the
previous year, earnings per share were affected by exceptionals. Adjusted
for these effects, earnings per share came to EUR 0.28 in the first half of
2007 (previous year: EUR 0.17). Earnings per share before adjustment
equaled EUR 0.45 (previous year: EUR 0.46) in the first half of the year.

Taking into consideration the changes in the investment portfolio, the
Group’s cash and cash equivalents gain EUR 20.0 million on the prior-year
amount 2006 (previous year: EUR 73.0 million) to reach EUR 93.2 million as
of June 30, 2007.

The order backlog amounted to EUR 407.0 million as of June 30, 2007
(previous year: EUR 440.0 million) and is represented to a large extent by
the order backlog of MT Aerospace AG to the amount of EUR 268.9 million
(previous year: EUR 317.1 million).

'For the current fiscal year 2007, we are expecting consolidated total
revenues of about EUR 200 million for the OHB Group, not including
Kayser-Threde GmbH, and an EBIT of approximately EUR 17 million.', said
Marco R. Fuchs, the Group’s CEO, who confirmed the outlook and restated
'that earnings per share of 55 cents adjusted by positive special items are
expected. The positive special item from the income from investments of 17
cents in the second quarter increases the outlook for 2007 of 55 cents per
share by said amount to 72 cents per share in the current fiscal year. We
assume for the current fiscal year as well as the next fiscal year that
dividends will be paid to the shareholders.'

The first consolidation of Kayser-Threde as of this year’s July 1 will
result in a significant increase in the Group’s total revenues. An
appraisal of this effect and the corresponding adjustment of the outlook
for 2007 will probably be presented together with the publication of the
results of this year’s third quarter.

Key financial figures Q2 / Q2 / HY 1 / HY 1 / +/- HY
(EUR thousand) 2006 2007 2006 2007 2007/06
Sales 39,452 47,109 70,977 83,472 + 18 %
Total revenues 48,594 52,557 85,530 93,031 + 9 %
EBITDA 10,719 4,660 15,640 10,493 - 33 %
EBIT 8,906 2,762 12,015 6,736 - 44 %
EBT 8,681 5,868 11,997 9,513 - 21 %
Net income for the 5,077 4,646 6,793 6,698 - 1 %
period
EPS in EUR 0.34 0.31 0.46 0.45 - 2 %
Cash and cash 73,001 93,178 73,001 93,178 + 28 %
equivalents

For further information, please see the first half report 2007.

Contact:
OHB Technology AG
Michael Vér, Investor Relations
Karl-Ferdinand-Braun-Str. 8
28359 Bremen / Germany
Tel.: +49 (0)421 2020-8
Fax: +49 (0)421 2020-613
Internet: http://www.ohb-technology.de
E-Mail: ir@ohb-technology.de

DGAP 09.08.2007

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
Internet: www.ohb-technology.de
ISIN: DE0005936124
WKN: 593612
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart

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