Ohb Se · XETR:OHB
Ohb — Q1 2023 Earnings Presentation
24 slides from Ohb's earnings presentation, May 10, 2023
Slide 1: Analyst Conference – Q1/Three-Month Results 2023
ANALYST CONFERENCE | Q1/THREE-MONTH RESULTS 2023 MAY 10, 2023 MARCO FUCHS, CEO KURT MELCHING, CFO DR. LUTZ BERTLING, CSDO/CDO ANALYST CONFERENCE – Q1/THREE-MONTH RESULTS 2023 // MAY 10, 2023 1
Slide 2: Business Segment Overview
BUSINESS SEGMENT OVERVIEW SINCE Q1 2023: AT EQUITY CONSOLIDATION OF ROCKET FACTORY AUGSBURG ANALYST CONFERENCE – Q1/THREE-MONTH RESULTS 2023 // MAY 10, 2023 2
Slide 3: Strategy: OHB 2025 – Shaping the Future
STRATEGY: OHB 2025 – SHAPING THE FUTURE Scope Growth ▪ End-to-end space system provider ▪ Organic and inorganic growth ▪ Develop downstream portfolio ▪ M&A focus on downstream ▪ Extend satellites and systems portfolio ▪ Extend footprint in commercial market ▪ Extend rocket customer base, full launch
Slide 4: Segment Highlights: Space Systems
SEGMENT HIGHLIGHTS SPACE SYSTEMS OHB Italia proves its versatility with contracts for two different types of missions ▪ Prime contractor for science mission Comet Interceptor − Studying a yet to be determined object after its first entry into our solar system, thereby providing the basis for conclus
Slide 5: Major Decisions on the Next Generation of Telecommunication Expected for 2023/2024
MAJOR DECISIONS ON THE NEXT GENERATION OF TELECOMMUNICATION EXPECTED FOR 2023/2024 ▪ SATCOMBw3 − Secure communication for the German Federal Armed Forces − OHB will bid as a core team partner in a consortium ▪ IRIS2: Platz für Schaubilder, − Secure communication capacities for Screenshots oder Produ
Slide 6: Segment Highlights: Aerospace
SEGMENT HIGHLIGHTS AEROSPACE Rocket Factory Augsburg working towards next milestones ▪ Fenix engine (orbital transfer vehicle) − First of its kind using non-toxic nitromethane propellant − Development shows very good progress ▪ Continuous core stage testing in Sweden Site for initial launch of RFA O
Slide 7: Segment Highlights: Digital
SEGMENT HIGHLIGHTS DIGITAL Growing our exposure to the downstream market ▪ ESA selected OHB Digital Connect to lead the development for a technology demonstrator (IIMEO) − Objective: Monitoring critical infrastructure from space in near real time and regardless of weather conditions − Deliverables:
Slide 8: Development of Order Backlog
DEVELOPMENT OF ORDER BACKLOG IN EUR MILLION 2632 2300 2439 2399 2100 2121 1840 1875 1764 1600 1700 1600 1200 1000 834 534 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 3m 2023 ANALYST CONFERENCE – Q1/THREE-MONTH RESULTS 2023 // MAY 10, 2023 8
Slide 9: The Group in Brief
THE GROUP IN BRIEF FINANCIAL FIGURES IN EUR 000 3m 2023 3m 2022 Change in % Order backlog (March 31) 1,763,995 1,955,736 -10 Total revenues 202,350 181,516 +11 EBITDA 21,542 19,942 +8 EBIT 12,542 11,429 +10 EBT 9,334 9,596 -3 Net profit after minorities 7,074 6,308 +12 EPS (EUR) 0.41 0.36 +14 Employ
Slide 10: Development of Financial Key Figures for the Group
DEVELOPMENT OF FINANCIAL KEY FIGURES FOR THE GROUP IN EUR MILLION Total revenues Profitability EBITDA EBIT 202 191 184 190 21.5 182 20.2 19.9 19.5 19.3 12.4 12.5 11.1 11.4 11.4 3m 2019 3m 2020 3m 2021 3m 2022 3m 2023 3m 2019 3m 2020 3m 2021 3m 2022 3m 2023 3m 2023 EBIT margin: 6.2 % (3m 2022: 6.3 %)
Slide 11: Space Systems
SPACE SYSTEMS IN EUR MILLION Total revenues Profitability EBITDA EBIT 152 155 146 143 16.9 140 15.7 14.8 14.7 15.2 10.4 9.3 8.9 9.3 7.9 3m 2019 3m 2020 3m 2021 3m 2022 3m 2023 3m 2019 3m 2020 3m 2021 3m 2022 3m 2023 3m 2023 EBIT margin: 6.0 % (3m 2022: 6.2 %) ANALYST CONFERENCE – Q1/THREE-MONTH RESU
Slide 12: Aerospace
AEROSPACE IN EUR MILLION Total revenues Profitability EBITDA EBIT 46 4.5 35 2.9 2.6 2.5 28 1.8 24 1.2 0.5 18 0.1 -0.2 -1.8 3m 2019 3m 2020 3m 2021 3m 2022 3m 2023 3m 2019 3m 2020 3m 2021 3m 2022 3m 2023 3m 2023 EBIT margin: 1.9 % (3m 2022: 0.3 %) ANALYST CONFERENCE – Q1/THREE-MONTH RESULTS 2023 // M
Slide 13: Digital
DIGITAL IN EUR MILLION Total revenues Profitability 27 EBITDA EBIT 24 25 5.4 4.9 3.0 3.2 2.6 2.6 11 -0.1 -0.4 3m 2020 3m 2021 3m 2022 3m 2023 3m 2020 3m 2021 3m 2022 3m 2023 3m 2023 EBIT margin: 10.1 % (3m 2022: 10.8 %) ANALYST CONFERENCE – Q1/THREE-MONTH RESULTS 2023 // MAY 10, 2023 13
Slide 14: Financial Guidance & Outlook 2023-2026
FINANCIAL GUIDANCE & OUTLOOK 2023-2026 IN EUR MILLION Actual Guidance + Outlook Total revenues 1573 1608 1328 1176 1000 1030 1001 901 917 2018 2019 2020 2021 2022 2023 2024 2025 2026 Guidance 2023 (released in January 2023) confirmed by the Management Board on this occasion. ANALYST CONFERENCE – Q1/
Slide 15: Financial Guidance & Outlook 2023-2026
FINANCIAL GUIDANCE & OUTLOOK 2023-2026 IN EUR MILLION Actual Guidance + Outlook EBITDA 170 147 126 109 99 78 77 84 65 2018 2019 2020 2021 2022 2023 2024 2025 2026 EBIT 125 105 +34 % 85 63 70 48 49 42 47 2018 2019 2020 2021 2022 2023 2024 2025 2026 Guidance 2023 (released in January 2023) confirmed b
Slide 16: Assets
ASSETS IN EUR 000 March 31, 2023 December 31, 2022 Change in % Non-current assets 379,819 358,840 +6 Property, plant and equipment 107,842 107,206 +1 Rights of use from leasing agreements 43,241 45,718 -5 Other intangible assets 122,781 124,371 -1 Others 105,955 81,545 +30 Current assets 663,760 721
Slide 17: Shareholder's Equity and Liabilities
SHAREHOLDER‘S EQUITY AND LIABILITIES IN EUR 000 March 31, 2023 December 31, 2022 Change in % Equity 299,841 293,468 +2 Non-current liabilities and provisions 261,972 261,237 0 Provisions for pensions 71,429 71,616 0 Leasing liabilities 34,600 36,786 -6 Deferred tax liabilities 63,259 62,847 +1 Other
Slide 18: Financial Figures
FINANCIAL FIGURES IN EUR MILLION 3m 2023 FY 2022 9m 2022 6m 2022 3m 2022 Free cash flow -62 -14 -129 -137 -89 Net debt 241 173 287 292 251 Net debt ex pensions 169 102 207 211 155 CapEx (incl. financial assets) 4 20 14 11 3 Own work capitalized (additions) 2 12 6 4 2 ROCE 8% 12 % 10 % 10 % 9% ANALYS
Slide 19: Development of Net Debt
DEVELOPMENT OF NET DEBT AS OF THE BALANCE SHEET DATE OF THE RESPECTIVE REPORTING PERIOD | IN EUR MILLION 292 287 251 241 211 207 173 169 155 102 3m 2022 6m 2022 9m 2022 FY 2022 3m 2023 Net debt Net debt ex pensions ANALYST CONFERENCE – Q1/THREE-MONTH RESULTS 2023 // MAY 10, 2023 19
Slide 20: Development of Investment Spending
DEVELOPMENT OF INVESTMENT SPENDING AS OF THE BALANCE SHEET DATE OF THE RESPECTIVE REPORTING PERIOD | IN EUR MILLION 20 14 12 11 6 4 4 3 2 2 3m 2022 6m 2022 9m 2022 FY 2022 3m 2023 CapEx Own work capitalized ANALYST CONFERENCE – Q1/THREE-MONTH RESULTS 2023 // MAY 10, 2023 20
Slide 21: Development of Free Cash Flow and ROCE
DEVELOPMENT OF FREE CASH FLOW AND ROCE AS OF THE BALANCE SHEET DATE OF THE RESPECTIVE REPORTING PERIOD Free cash flow in EUR million ROCE in % -14 12 -62 10 10 9 -89 8 -129 -137 3m 2022 6m 2022 9m 2022 FY 2022 3m 2023 3m 2022 6m 2022 9m 2022 FY 2022 3m 2023 ANALYST CONFERENCE – Q1/THREE-MONTH RESULT
Slide 22: Financial Calendar 2023
FINANCIAL CALENDAR 2023 May 25, 2023 Annual General Meeting May 30 – June 1, 2023 Stockpicker Summit, Hauck Aufhäuser, Calvià June 8, 2023 ODDO BHF Nextcap Forum August 10, 2023 6-Month report/Analyst conference September 6, 2023 Commerzbank & ODDO BHF Corporate Conference, Frankfurt am Main Septemb
Slide 23: Q&A
Q&A ANALYST CONFERENCE – Q1/THREE-MONTH RESULTS 2023 // MAY 10, 2023 23
Slide 24: Thank You!
THANK YOU! OHB SE Manfred-Fuchs-Platz 2-4 28359 Bremen Germany Phone: +49 421 2020 7200 Email: ir@ohb.de Web: www.ohb.de ANALYST CONFERENCE – Q1/THREE-MONTH RESULTS 2023 // MAY 10, 2023 24