OHB SE — Earnings Release 2008

Mar 19, 2009

News Details

Corporate | 19 March 2009 07:05

OHB Technology AG: Total revenues increase by a good 16 % to EUR 260 million in 2008 (PY EUR 223 million)

OHB Technology AG / Final Results

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• Total revenues increase by a good 16 % to EUR 260 million in 2008
  (PY EUR 223 million), expected to increase to approx.EUR 300
  million in 2009

• EBIT rises by 7 % to EUR 18.7 million (PY EUR 17.5 million);
  increase to approx. EUR 21 million expected for 2009

• Earnings per share (EPS) at 61 cents (PY 84 cents); adjusted for
  one-time effects, EPS rises to 65 cents (PY adjusted 61 cents)

• Unchanged dividend proposal of 25 cents per share also for 2008

• Current order backlog of over EUR 700 million assures future growth

Bremen, March 19, 2009. At today's annual press conference in Bremen, the
Management Board of OHB Technology AG (Prime Standard, ISIN: DE0005936124)
presents the audited consolidated financial statements 2008.

OHB Technology looks back on a successful year, profiting as it does from
being relatively independent from current economic developments. The course
of business was positive and resulted in an increase of slightly more than
16 % in the Group's total revenues of EUR 260 million (previous year EUR
223 million); revenues of EUR 232 million were 6 % above the prior-year
level (219 EUR million). It is important to note that Kayser-Threde GmbH
was included in the consolidated financial statements for the first time
for a full year.

'For the current fiscal year 2009 we expect a continued increase of total
revenues of roughly 15 % to approximately EUR 300 million' confirmed Marco
R. Fuchs, Chairman of the Board of OHB Technology AG, the Group's positive
outlook for the year:

Due to delays during the contract award process for specific projects
non-consolidated total revenues in the business unit Space Technology +
Security fell to EUR 62.9 million (previous year EUR 69.8 million),
non-consolidated revenues dropped to EUR 59.2 million (previous year EUR
69.3 million), and the EBIT amounted to EUR 4.6 million (previous year EUR
6.4 million).

Since July 1, 2007 the OHB Group's business portfolio has been supplemented
by the business unit Payloads + Science. As a result, it is included in the
annual consolidated financial statements for the entire period under review
for the first time. This unit generated non-consolidated total revenues of
EUR 44.2 million in 2008 (previous year pro forma EUR 41.3 million) and
revenues of EUR 43.2 million (previous year pro forma EUR 47.4 million),
with an EBIT of EUR 2.2 million.

The largest business unit Space Transportation + Aerospace Structures
increased its non-consolidated total revenues to EUR 140.4 million in 2008
(previous year EUR 119.4 million), the non-consolidated revenues increased
to EUR 123.7 million (previous year EUR 110.6 million), and the EBIT jumped
to EUR 11.7 million (previous year 9.3 million).

The business unit Telematics + Satellite Operations achieved
non-consolidated total revenues of EUR 19.3 million in 2008, above the
level of the previous fiscal year (EUR 16.5 million). Non-consolidated
revenues totaled EUR 12.6 million (previous year EUR 14.5 million) and the
EBIT jumped to EUR 0.7 million (previous year EUR 0.1 million).

The company has experienced sustained growth in operational results since
going public in 2001. Earnings before interest, taxes, depreciation and
amortization (EBITDA) rose in 2008 by approximately 11 % to EUR 28.7
million (previous year EUR 25.9 million), thereby resulting in increased
earnings before interest and taxes (EBIT) for the year under review of EUR
18.7 million (previous year EUR 17.5 million). Net income of approximately
EUR 9.0 million for the fiscal year 2008 (previous year EUR 12.5 million)
resulted in earnings per share of 61 cents (PY 84 cents including a
positive one-time effect to the amount of 23 cents per share). A tax audit
in 2008 at a subsidiary company led to a 4-cent reduction in earnings per
share. Adjusted by the respective one-time effects in the years 2008 and
2007, the earnings per share rose to 65 cents for the year 2008 after 61
cents in the previous year.

Management Board and Supervisory Board will propose a consistent dividend
of 25 cents per share for 2008 at the upcoming annual general meeting.
Similarly, the distribution of a dividend for the fiscal year 2009 is
planned for the coming year. The Group's traditionally high liquidity
(incl. securities and stocks) amounted to EUR 67.1 million as per December
31, 2008 (previous year EUR 73.1 million).

The record high order backlog of EUR 534 million as of the end of the year
2008 (previous year EUR 447 million) rose to over EUR 700 million by
February of the current year, thereby safeguarding the Group's continued
growth and a high degree of utilization in all business units. During a
financial crisis, OHB Technology has the decided advantage of being in a
position to plan and operate on a long-term and sustainable scale. For the
current fiscal year 2009, the Management Board anticipates a continued
increase in the OHB Group's consolidated total revenues to approximately
EUR 300 million, to which all business units are expected to contribute
with respective total revenues above the 2008 levels. Operational results
(EBITDA) are expected to rise to approximately EUR 31 million in 2009.
Earnings before taxes (EBIT) are expected to rise to approximately EUR 21
million for 2009. Special items are currently not anticipated.

The complete consolidated financial statements 2008 of OHB Technology AG
will be explained in detail at today's (March 19, 2009) annual press
conference in Bremen and at the subsequent analysts' conference in
Frankfurt/Main.

Annual press conference at 8:30 a.m. on March 19, 2009
on the premises of OHB Technology AG in Bremen

Analysts' conference (DVFA) at 2:00 p.m. on March 19, 2009
on the premises of DZ Bank AG,
Westend 1, 60325 Frankfurt/Main

Overview of financial
figures (EUR '000) 2006 2007 2008 +/- 2008/07

Revenues 163,147 218,801 232,473 + 6 %
Total revenues 185,699 223,340 260,029 + 16 %
EBITDA 27,936 25,903 28,736 + 11 %
EBIT 20,428 17,486 18,708 + 7 %
EBT 21,982 18,373 16,092 - 12 %
Net income 12,016 12,478 8,998 - 28 %
EPS in EUR 0.81 0.84 0.61 - 27 %
EPS in EUR (adjusted by one-time 0.52 0.61 0.65 + 7 %
effects)
Dividend per share*) in EUR 0.23 0.25 0.25 +/- 0
Liquid assets (incl. securities) 89,502 73,058 67,077 - 8 %

*) 2008 Proposal to the AGM

For further information, please contact:

OHB Technology AG
Michael Vér, Investor Relations
Karl-Ferdinand-Braun-Str. 8
28359 Bremen, Germany
Phone: +49 421 2020-8
Fax: +49 421 2020-613

Internet: http://www.ohb-technology.de
E-mail: ir@ohb-technology.de
19.03.2009 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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