9-month interim report 2024

OHB SE: 9-month interim report 2024

• Adjusted EBITDA of EUR 72.5 million, up 13 % on the previous year
• Order backlog grows by 22 % year-on-year to EUR 2,120 million.
• Voluntary public takeover offer by Orchid Lux HoldCo S.à r.l. successfully completed

The OHB Group (ISIN: DE0005936124, Prime Standard) generated total revenues of EUR 715.8 million in the first nine months, down 3 % on the previous year (EUR 737.0 million). The operating result (EBITDA) decreased from EUR 64.1 million in the previous year to EUR 62.4 million. The operating EBITDA margin thus reached 8.7 % in the reporting period, unchanged from the same period of the previous year. EBIT deteriorated to EUR 34.7 million in the first nine months of the current fiscal year, compared to EUR 36.9 million in the previous year. The corresponding EBIT margin decreased accordingly to 4.8 %, compared to 5.0 % in the same period of the previous year.

The Group's firm order backlog stood at EUR 2,120 million after nine months of fiscal year 2024, up from EUR 1,742 million in the previous year. Of this amount, EUR 1,783 million is attributable to the SPACE SYSTEMS segment, EUR 203 million to the AEROSPACE segment and EUR 134 million to the DIGITAL segment. As of September 30, 2024, the OHB Group's total assets stood at EUR 1,477.9 million, up around 10 % from December 31, 2023 (EUR 1,340.1 million). The increase in equity from EUR 438.0 million to EUR 443.6 million resulted in an equity ratio of 30.0 % as of September 30, 2024, down from 32.7 % at year-end on December 31, 2023.

In the past quarter, two major order intakes were recorded in the SPACE SYSTEMS segment with the orders for the tenth “Earth Explorer” mission Harmony and the space safety mission Ramses. In addition, all three remaining launches scheduled for 2024 were successfully carried out. In the AEROSPACE segment, MT Aerospace AG, as one of the largest suppliers for the new European launcher Ariane 6, expects a continuous ramp-up in production volume in the coming years following the successful first launch. The company was also able to further advance its strategic growth in the defense sector by entering into two new contracts. By signing a partnership agreement with Frauscher Sensortechnik GmbH, OHB Teledata GmbH was able to achieve progress in one of the core areas of the strategy for the DIGITAL segment: The internationalization of its rail business beyond Germany.

In the past quarter, the voluntary public takeover offer made by Orchid Lux HoldCo S.à r.l., a holding company controlled by investment funds, vehicles and / or accounts advised and managed by various subsidiaries of Kohlberg Kravis Roberts & Co L.P. (“KKR”), was successfully completed after all offer conditions had been met. Following the closing, KKR now holds approximately 28.6 % of the company's shares. OHB continues to plan its delisting from the stock market to facilitate the implementation of its long-term growth strategy as a privately held company.

At this point in time, the Management Board assumes that the financial position and net assets will continue to develop well.


Key performance indicators at a glance

in EUR 000	Q3 2024	Q3 2023	9M 2024	9M 2023	+/- 9M
Revenues	233,106	274,812	691,415	718,558	-4 %
Total revenues	245,343	280,397	715,811	737,016	-3 %
EBITDA	28,071	19,989	62,365	64,103	-3 %
Adjusted EBITDA	31,772	19,989	72,509	64,103	+13 %
EBIT	18,863	10,924	34,693	36,885	-6 %
Share of OHB SE shareholders in net profit for the period	12,008	5,305	17,367	18,999	-9 %
Earnings per share in EUR	0.63	0.30	0.91	1.09	-17 %
Cash and cash equivalents	23,409	25,270	23,409	25,270	-7 %

Contact:
Media representatives:
Marianne Radel
Corporate Communications
Phone: +49 421 2020 9159
Email: marianne.radel@ohb.de


Investors and analysts:
Marcel Dietz
Investor Relations
Phone: +49 421 2020 6426
Email: ir@ohb.de