OHB SE — Earnings Release 2008

Aug 7, 2008

News Details

Corporate | 7 August 2008 07:11

OHB Technology AG: Increase in total revenues to EUR 117.0 million (previous year: EUR 93.0 million)

OHB Technology AG / Half Year Results

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The issuer / publisher is solely responsible for the content of this announcement.

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• Increase in total revenues to EUR 117.0 million(previous year: EUR 93.0
  million)

• Earnings per share of EUR 0.34 for the first half of 2008 (previous
  year EUR 0.45, adjusted EUR 0.28)

• Earnings forecast of EUR 0.80 per share confirmed for fiscal 2008
  (previous year adjusted: EUR 0.61)

Bremen, August 7, 2008. The OHB Group (Prime Standard, ISIN: DE0005936124)
is continuing to grow both organically and via specific acquisitions and
investments in the aerospace and aeronautics sector.

The OHB Group’s total revenues in the first six months of 2008 came to EUR
117.0 million, well up on the year-ago figure of EUR 93.0 million again.
The main reason for this was the first-time consolidation of Kayser-Threde
GmbH in the third quarter of 2007 and of Luxspace Sàrl in the first quarter
of 2008.

In the first six months of 2008, the Group generated EBITDA of EUR 13.8
million (previous year: EUR 10.5 million), while EBIT came to EUR 9.5
million, an increase of 42 % (previous year: EUR 6.7 million). Earnings
before taxes (EBT) in the first six months came to EUR 8.1 million, below
the year-ago figure of EUR 9.5 million, which was inflated by non-recurring
shares in the profits of associates of EUR 3.2 million. Consolidated net
profit for the first half of the year equaled EUR 5.0 million (previous
year: EUR 6.7 million; adjusted EUR 4.2 million). Hence, earnings per share
amounted to EUR 0.34 (previous year: EUR 0.45, adjusted EUR 0.28).

Unconsolidated revenues in the Space Systems + Security business unit came
to EUR 29.9 million (previous year: EUR 31.6 million). The EBIT margin
widened to 12.3 % (previous year: 8.5 %) as a result of the reduction in
the cost-of-materials ratio to around 49 % (previous year: around 59 %) and
the resultant high percentage of internal sourcing in total revenues as
well as the first-time consolidation of Luxspace Sàrl.

The Payloads + Science business unit reported unconsolidated total revenues
of EUR 19.5 million in the first half of 2008. With EBITDA coming to EUR
1.8 million and EBIT to EUR 0.8 million for seasonal reasons, this business
unit’s bottom line offers potential for considerable improvement over the
next few quarters.

With a further increase in unconsolidated total revenues to EUR 64.1
million in the first six months of 2008 (previous year: EUR 56.3 million),
the Space Transportation + Aerospace Structures business unit dominates the
Group’s business. EBITDA of EUR 6.9 million (previous year: EUR 5.8
million) and EBIT of EUR 5.0 million (previous year: EUR 4.0) reflect the
growth over Q1/2008.

The Telematics + Satellite Operations business unit reported unconsolidated
total revenues of EUR 6.9 million in the first six months of 2008 (previous
year: EUR 7.2 million). Despite a reduced cost-of-materials ratio of 44 %
(previous year: around 49 %), EBITDA came to EUR 0.5 million, thus falling
short of the previous year (EUR 0.8 million). Depreciation in the same
amount resulted in a small loss at the EBIT level (previous year: EBIT of
EUR 0.1 million).

Order backlog was valued at EUR 406.0 million as of June 30, 2008 (previous
year: EUR 407.0 million), with the orders of EUR 263.4 million (previous
year: EUR 268.9 million) received by MT Aerospace making a key contribution
after consolidation. The volume of additional orders arising as a result of
the first-time consolidation of Kayser-Threde is valued at EUR 30.8
million.

Consolidated cash and cash equivalents dropped to EUR 48.8 million as of
June 30, 2008 (previous year: EUR 93.2 million). The change of around EUR
44.4 million is primarily due to the delay in signing the PB lot contract
for the Ariane 5 launch vehicles.

The Management Board expects consolidated total revenues of around EUR 290
million and EBIT of roughly EUR 23 million for the OHB Group in 2008. This
translates into projected earnings per share of EUR 0.80 for this year, an
increase of EUR 0.19 over the previous year’s adjusted figure of EUR 0.61.
'We assume that a dividend will be paid to shareholders for both this year
and next. Cash and cash equivalents will be at a high level again towards
the end of fiscal 2008' comments Marco R. Fuchs, CEO of the Group, on the
outlook of the Company.

Performance Q2 / Q2 / H1 / H1 / +/- H1
Indicators (EUR 000) 2007 2008 2007 2008 2008/07
Sales 47,109 60,404 83,472 100,571 + 20 %
Total revenues 52,557 65,291 93,031 117,009 + 26 %
EBITDA 4,660 7,276 10,493 13,828 + 32 %
EBIT 2,762 5,206 6,736 9,529 + 41 %
EBT 5,868 4,500 9,513 8,072 - 15 %
Net profit for the 4,646 2,831 6,698 4,987 - 26 %
period
EPS in EUR 0.31 0.19 0.45 0.34 - 24 %
EPS in EUR (adjusted) 0.14 0.19 0.28 0.34 + 21 %
Cash and cash 93,178 48,802 93,178 48,802 - 48 %
equivalents

Contact for investors and analysts: Contact for media representatives:

Michael Vér Steffen Leuthold
Investor Relations Corporate Communications
Tel.: +49 421 – 2020-727 Tel.: +49 421 – 2020-620
Fax: +49 421 – 2020-613 Fax: +49 421 – 2020-700
E-Mail: ver@ohb-technology.de E-Mail: leuthold@ohb-system.de
www.ohb-technology.de www.ohb-system.de

This six-month report and further information are available on our website
at www.ohb-technology.de.
07.08.2008 Financial News transmitted by DGAP

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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
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart

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