Slide 1: Conference Call OHB SE Q3/Nine-month results 2019
November 12, 2019 Conference Call OHB SE Q3/Nine-month results 2019 Marco Fuchs, Chief Executive Officer Kurt Melching, Chief Financial Officer OHB AG
Slide 2: MT Mechatronics signs contract with the GMTO Corporation for Giant Magellan Telescope structure
MT Mechatronics signs contract with the GMTO Corporation for Giant Magellan Telescope structure • MT Mechatronics and Ingersoll Machine Tools will design and manufacture the 1,800-ton precision mechanism that will hold the GMT’s optics • The total value of the telescope structure contract is EUR 123
Slide 3: EDRS-C: So far In-Orbit Tests successfully completed
EDRS-C: So far In-Orbit Tests successfully completed • The telecommunication satellite EDRS-C, the second node of the European Data Relay System, was developed and built by OHB System based on the SmallGEO platform • EDRS-C was successfully launched into geostationary orbit on August 6, 2019 by an A
Slide 4: Status update SARah: Contract change signed on July 29
Status update SARah: Contract change signed on July 29 • OHB System signed a contract change with a volume of EUR 91 million for a significant security increase of the overall system, total project volume for OHB: EUR 908 million • The mating of the central structure with the bus models for the firs
Slide 5: Successful test in the PLATO project: Demonstration model delivers first measurement results
Successful test in the PLATO project: Demonstration model delivers first measurement results • In October 2018, OHB System AG signed the contract for the mid-size ESA science mission PLATO, for which the company is the prime contractor • In this project, it was essential to check the design of a spe
Slide 6: MTG: Meteosat Third Generation
MTG: Meteosat Third Generation • OHB System has successfully completed work on the Telescope Assembly (TA) for the first MTG weather satellite of the "Imager" type • Four MTG satellites will be equipped with an instrument called a Flexible Combined Imager (FCI). • Safely housed in an air-conditioned
Slide 7: Space19+ ESA's Ministerial Council meeting in November 2019 in Sevilla, Spain
Space19+ ESA‘s Ministerial Council meeting in November 2019 in Sevilla, Spain Ministerial Councils bring together ESA’s Member States and observers every two to three years to decide on new proposals and funding for ESA’s next years of work, Space19+ will be an opportunity to direct Europe’s ‘next g
Slide 8: Space19+ / Important decisions for OHB
Space19+ / Important decisions for OHB Applications Exploration & Science Space Safety Launcher & Support Copernicus Ariane-programme Lunar orbital platform gateway: ESPRIT modul HERA mission Lagrange 5-mission Electra Future science missions Adrios Flyeye telescopes 8 OHB AG
Slide 9: The Group in brief 9M/2019 in EUR (000)
The Group in brief 9M/2019 in EUR (000) 9M/2018 9M/2019 Δ Order backlog (June 30) 2,408,298 2,061,116 -14% Total revenues 633,705 659,283 4% EBITDA 47,107 57,918 23% EBIT 34,448 36,163 5% EBT 31,722 33,046 4% Net profit after minorities 18,440 20,030 9% EPS (EUR) 1,06 1,15 8% Employees (September 30
Slide 10: Group results 9m in EUR million
Group results 9m in EUR million 634 659 Total revenues 600 507 541 400 200 0 9M 16 9M 17 9M 18 9M 19 60 57.9 EBITDA 50 37.5 41.6 47.1 40 30 20 10 0 9M 16 9M 17 9M 18 9M 19 40 34.4 36.2 31.7 EBIT 30 28.6 9M/2019 20 EBIT margin 5.5 %, EBIT margin on own 10 value added 9.7 % 0 9M 16 9M 17 9M 18 9M 19 O
Slide 11: Space Systems 9m in EUR million
Space Systems 9m in EUR million 600 499 533 Total revenues 387 404 400 200 0 9M 16 9M 17 9M 18 9M 19 50 45.4 EBITDA 40 31.4 30 24.7 24.4 20 10 0 9M 16 9M 17 9M 18 9M 19 30 28.6 23.1 EBIT 19.1 18.5 20 9M/2019 EBIT margin 5.4 %, 10 EBIT margin on own value added 11.2 % 0 9M 16 9M 17 9M 18 9M 19 OHB 11
Slide 12: Aerospace + Industrial Products 9m in EUR million
Aerospace + Industrial Products 9m in EUR million 145 141 150 131 Total revenues 120 123 90 60 30 0 9M 16 9M 17 9M 18 9M 19 17.2 15.6 EBITDA 15 13.1 12.5 10 5 0 9M 16 9M 17 9M 18 9M 19 15 13.3 EBIT 9.8 11.3 10 7.6 9M/2019 EBIT margin 5.8 %, 5 EBIT margin on own value added 6.5 % 0 9M 16 9M 17 9M 18
Slide 13: Financial guidance 2019 in EUR million
Financial guidance 2019 in EUR million Guidance Guidance released on 1200 Actual Feb 12, 2019 confirmed by 1,050 the management board on 800 1,000 November 12 860 730 728 400 Total revenues 0 2015 2016 2017 2018 2019 80 Estimation (EUR 10 80 million) of the effect due to 60 70 the application of IFR
Slide 14: Cash Flow in EUR (000)
Cash Flow in EUR (000) 9M/2018 9M/2019 Net outflow of funds for operating activities - 35,132 -108,003 Net outflow of funds due to investment activities - 12,066 -16,114 Net inflow of funds from financing activities 55,054 139,117 Change in liquid funds 7,856 15,000 Liquid funds at the beginning of
Slide 15: The Group in brief – Assets in EUR (000)
The Group in brief – Assets in EUR (000) 12/31/2018 09/30/2019 ∆ Non-current assets 291,338 349,116 +20% Property, plant and equipment 88,252 93,131 +6% Other financial assets 31,973 27,496 -14% Other intangible assets 113,204 117,100 +3% Rights of use from leasing agreements 0 53,721 n.a. Others 57
Slide 16: The Group in brief – Shareholder's equity and liabilities in EUR (000)
The Group in brief – Shareholder’s equity and liabilities in EUR (000) 12/31/2018 09/30/2019 ∆ Equity 200,019 206,305 +3% Non-current liabilities and provisions 176,349 257,763 +46% Provisions for pensions 99,583 98,500 -1% Deferred tax liabilities 37,543 41,933 +12% Leasing liabilities 0 46,367 n.a
Slide 17: Selected financial ratios (in EUR million)
Selected financial ratios (in EUR million) Free Net debt ex CAPEX Own work cash flow Net debt pensions (incl. financial capitalized ROCE assets) (additions) FY 2018 12/31/18 12/31/18 FY 2018 FY 2018 FY 2018 39 107 7 24 17 14 3m 2019 03/31/19 03/31/19 3m 2019 3m 2019 3m 2019 -53 163 64 3 3 14 6m 2019
Slide 18: Development of the ratio net debt
Development of the ratio net debt as of the balance sheet date of the respective reporting period / in EUR million 300 246.8 250 237.5 200 174.1 138.6 148.3 150 137.3 132.3 138.6 107.0 100 80.5 63.9 50 36.9 35.7 7.4 0 2015 2016 2017 2018 3m 2019 6m 2019 9m 2019 Net debt Net debt ex pensions OHB 18 A
Slide 19: Development of financial ratios
Development of financial ratios Free cashflow / in EUR million ROCE 80 19 60 55.7 40 17 39.1 20 11.5 15 0 14 13 -2.7 13 13 13 -20 13 12 12 -40 -53.1 11 -60 -80 9 -100 -116.7 7 -124.1 -120 -140 5 12m15 12m16 12m17 12m18 3m19 6m19 9m19 2015 2016 2017 2018 3m 6m 9m 2019 2019 2019 OHB 19 AG
Slide 20: Development of investment spending / in EUR million
Development of investment spending / in EUR million 35 29.4 30 24.7 25 23.8 20 18.4 18.7 16.6 16.6 17.4 15 10.8 10.1 10 7.9 6.8 5 3.5 3.3 0 12m 2015 12m 2016 12m 2017 12m 2018 3m 2019 6m 2019 9m 2019 CAPEX Own work capitalized OHB 20 AG
Slide 21: Shareholder's structure as of November 2019
Shareholder’s structure as of November 2019 Total issued capital – 17,468,096 shares Free Float; 5.221.380 shares; 29,89% Fuchs Pool; 12.178.720 shares; 69,72% Treasury Stock; 67.996 shares; 0,39% 21 OHB AG
Slide 22: Analyst ratings
Analyst ratings 22 Date Institution Price target Recommendation October 2019 Pareto Securities 42.00 EUR Buy August 2019 Bankhaus Lampe 43.00 EUR Buy August 2019 Commerzbank 31.50 EUR Hold July 2019 DZ Bank 40.00 EUR Buy June 2019 HSBC Trinkaus & Burkhardt 36.00 EUR Hold 22 OHB AG
Slide 23: The stock at a glance
The stock at a glance 23 EUR 9M/2018 9M/2019 ∆ High, Xetra 49.75 36.80 -26% Low, Xetra 27.55 29.60 +7% Closing price, Xetra 33.30 32.90 -1% Average daily trading volumes (Xetra + floor) 17,726 3,999 -77% Market capitalisation, Xetra 581,687,596 574,700,358 -1% Number of shares 17,468,096 17,468,096
Slide 24: Financial calendar 2019 / 2020
Financial calendar 2019 / 2020 • November 12, 2019 Nine-month interim report 2019, conference call • November 18 DZ Bank Equity Conference • November 25-27, 2019 German Equity Forum 2019 / Frankfurt am Main • January 9, 2020 Oddo Forum, Lyon (F) • February 13, 2020 Capital Market Day in Bremen • Mar