Corporate | 10 May 2007 07:10
OHB Technology AG / Quarter Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- - Quarterly earnings up 17% to EUR 0.14 per share - Total revenues up 10% to EUR 40.5 million - Expected total revenues of around EUR 200 million and EBIT of roughly EUR 17 million for 2007 confirmed Bremen, 10 May 2007. All told, the prospects for the Group OHB Technology AG (Prime Standard, ISIN: DE0005936124) are further on to be expected very good. Our technological and operative successes are also reflected in our financials for the first three months. Alongside internal cost and structural improvements, order books, sales and total revenues are entering new dimensions. Accordingly, the Group will remain on its growth trajectory this year. Disproportionately strong growth in earnings at all levels is causing operating margins to widen. The OHB Group’s total revenues in the first three months of 2007 came to EUR 40.5 million, up substantially by around 10 % on the comparable year-ago figure of EUR 36.9 million. In the first quarter of 2007, the Group generated EBITDA of EUR 5.8 million (previous year: EUR 4.9 million) and EBIT of EUR 4.0 million (previous year: EUR 3.1 million). The net income for the period of EUR 2.1 million exceeds the year-ago figure of EUR 1.7 million substantially and translates into earnings per share up 17% to EUR 0.14 for the first quarter of 2007, up from EUR 0.12 in the first quarter of 2006. The increase in unconsolidated total revenues in the Space Systems + Security business unit of around 23 % to EUR 11.4 million (previous year: EUR 9.3 million) materially underpinned sales growth. With EBITDA coming to EUR 2.1 million in tandem with virtually identical depreciation and amortization expense in the business unit, the EBIT margin widened to a good 13 % in the first quarter of 2007. At EUR 1.5 million in absolute terms, EBIT exceeded the year-ago figure (EUR 1.0 million) by more than 56%. With unconsolidated total revenues of EUR 26.5 million in the first three months of 2007, the Space Transportation + Aerospace Structure business unit dominates the Group. EBITDA came to EUR 3.4 million while EBIT rose to EUR 2.4 million, resulting in an EBIT margin of a good 9 %, thus reflecting the steady growth in earnings and the sustained profitability of MT Aerospace AG. The Telematics + Satellite Operations business unit posted unconsolidated total revenues of EUR 3.3 million in the first quarter of 2007, thus exceeding the year-ago period substantially by over 22 % (EUR 2.7 million). EBITDA fell to EUR 0.4 million (previous year: EUR 0.5 million) on account of a substantial increase in the cost of materials due to the production of telematic systems. Continued high depreciation and amortization expense slightly above the previous year resulted in EBIT of just under EUR 0.1 million (previous year: EUR 0.2 million). Consolidated cash and cash equivalents as of March 31, 2007 stood at EUR 82.2 million (previous year: EUR 94.3 million). The production of key components for the Ariane 5 launcher as well as the planned increase in the launch cadence per year caused inventories to rise by around EUR 9.0 million over the year-ago period. As of March 31, 2007, cash and cash equivalents temporarily dropped by EUR 7.3 million compared with December 31, 2006 (EUR 89.5 million). At EUR 443.0 million, firm orders as of March 31, 2007 were virtually unchanged over the figure for December 31, 2006 (EUR 447.5 million) but well up on the year-ago amount of EUR 399.6 million. This was materially due to the consolidated orders of EUR 281.3 million contributed by MT Aerospace AG. 'We continue to expect consolidated total revenues of around EUR 200 million and EBIT of roughly EUR 17 million for the OHB Group in 2007', underlined Marco R. Fuchs, CEO of the Group, the earnings forecast and strengthened, 'earnings per share of around EUR 0.55 are expected. We assume that a dividend will be paid to shareholders for both this year and next.'Key figures at a glance (EUR `000) Q1 / 2006 Q1 / 2007 +/- 2007/06 Sales 31,525 36,363 + 15 % Total revenues 36,936 40,474 + 10 % EBITDA 4,921 5,833 + 19 % EBIT 3,109 3,974 + 28 % EBT 3,316 3,645 + 10 % Net income 1,716 2,052 + 20 % EPS in EUR 0.12 0.14 + 17 % Cash and cash equivalents 94,311 82,166 - 13 %For further information please refer to the 3-Month Report 2007, or contact directly: OHB Technology AG Michael Vér, Investor Relations Phone: +49 - 421 2020-8 Fax: +49 - 421 2020-613 Internet: http://www.ohb-technology.de E-Mail: ir@ohb-technology.de DGAP 10.05.2007 ---------------------------------------------------------------------- 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 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 ---------------------------------------------------------------------------