Slide 1: Conference Call OHB SE Q2/Six-month results 2019
August 13, 2019 Conference Call OHB SE Q2/Six-month results 2019 Marco Fuchs, Chief Executive Officer Kurt Melching, Chief Financial Officer OHB AG
Slide 2: Successful launch of EDRS-C with an Ariane 5 on August 6
Successful launch of EDRS-C with an Ariane 5 on August 6 • 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 • Customer: Airbus Defence & Space • ESA ARTES 7 programme: European data relay s
Slide 3: 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 SARah System consists of one space segment and one ground segmen
Slide 4: Status update: Galileo
Status update: Galileo • Total number of satellites ordered by ESA: 34 Contract volume: EUR 1.3 billion • 26 satellites of the Galileo system are already in orbit, 22 were developed, built and delivered by OHB • Satellite production for the first of the remaining 12 satellites under contract for the
Slide 5: MTG: Meteosat Third Generation
MTG: Meteosat Third Generation • To provide meteorological images for the European / international weather forecasting services after end-of- operations of Meteosat second generation, provision of improved and enhanced data for climate research • Customer: ESA and EUMETSAT, contract volume: EUR 1,08
Slide 6: Recent news flow from the subsidiaries
Recent news flow from the subsidiaries • MT Aerospace and ArianeGroup signed development contracts with ESA for enhanced Ariane 6 composite upper stage technologies - PHOEBUS is a project to validate technologies and concepts for an optimized upper stage on Ariane 6 • OHB System AG inaugurated addit
Slide 7: Space19+ ESA's Ministerial Council meeting in November 2019
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 Security Launcher & Support Copernicus Ariane-programme Lunar orbital platform gateway: ESPRIT modul HERA mission Lagrange 5-mission Electra Future science missions Clean Space 8 OHB AG
Slide 9: The Group in brief 6M/2019 in EUR (000)
The Group in brief 6M/2019 in EUR (000) 6M/2018 6M/2019 Δ Order backlog (June 30) 2,368,867 2,062,743 -13% Total revenues 404,461 424,665 +5% EBITDA 29,313 36,024 +23% EBIT 21,029 21,662 +3% EBT 19,023 19,458 +2% Net profit after minorities 11,275 11,882 +4% EPS (EUR) 0.65 0.68 +5% Employees (June 3
Slide 10: Group results 6m in EUR million
Group results 6m in EUR million 500 Total revenues 400 316 354 404 425 300 200 100 0 6M 16 6M 17 6M 18 6M 19 40 36.0 EBITDA 30 25.8 29.3 24.0 20 10 0 6M 16 6M 17 6M 18 6M 19 40 EBIT 30 19.3 21.0 21.7 6M/2019 18.3 20 EBIT margin 5.1 %, EBIT margin on own 10 value added 8.7 % 0 6M 16 6M 17 6M 18 6M 19
Slide 11: Space Systems 6m in EUR million
Space Systems 6m in EUR million 400 Total revenues 261 315 339 300 237 200 100 0 6M 16 6M 17 6M 18 6M 19 28.9 EBITDA 30 20.2 20 14.9 15.1 10 0 6M 16 6M 17 6M 18 6M 19 30 EBIT 17.8 20 14.7 6M/2019 11.3 11.2 EBIT margin 5.3 %, 10 EBIT margin on own value added 10.6 % 0 6M 16 6M 17 6M 18 6M 19 OHB 11 A
Slide 12: Aerospace + Industrial Products 6m in EUR million
Aerospace + Industrial Products 6m in EUR million 98 94 100 88 Total revenues 80 82 60 40 20 0 6M 16 6M 17 6M 18 6M 19 15 EBITDA 9.5 10.7 9.2 10 7.2 5 0 6M 16 6M 17 6M 18 6M 19 15 EBIT 10 7.4 8.1 6M/2019 6.4 EBIT margin 4.5 %, 5 3.9 EBIT margin on own value added 4.9 % 0 6M 16 6M 17 6M 18 6M 19 OHB
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 August 13 860 730 728 400 Total revenues 0 2015 2016 2017 2018 2019 80 Estimation (EUR 10 80 million) of the effect due to 60 70 the application of IFRS
Slide 14: Cash Flow in EUR (000)
Cash Flow in EUR (000) 6M/2018 6M/2019 Net outflow of funds for operating activities - 41,693 -106,603 Net outflow of funds due to investment activities - 7,431 -10,123 Net inflow of funds from financing activities 81,606 98,379 Change in liquid funds 32,482 -18,347 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 06/30/2019 ∆ Non-current assets 291,338 351,681 +21% Property, plant and equipment 88,252 91,113 +3% Other financial assets 31,973 30,924 -3% Other intangible assets 113,204 115,946 +2% Rights of use from leasing agreements 0 55,612 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 06/30/2019 ∆ Equity 200,019 202,425 +1% Non-current liabilities and provisions 176,349 231,860 +31% Provisions for pensions 99,583 98,847 -1% Deferred tax liabilities 37,543 40,275 +7% Leasing liabilities 0 47,923 n.a.
Slide 17: Selected financial ratios (in EUR million)
Selected financial ratios (in EUR million) Free Net debt Net debt ex CAPEX Own work ROCE cash flow pensions (incl. financial capitalized 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 250 237.5 200 174.1 150 137.3 132.3 138.6 107.0 100 80.5 50 36.9 35.7 7.4 0 2015 2016 2017 2018 6m 2019 Net debt Net debt ex pensions OHB 18 AG
Slide 19: Development of financial ratios
Development of financial ratios Free cashflow / in EUR million ROCE 80 20 60 18 40 55.7 16 39.1 14 20 14 13 13 11.5 12 12 0 -2.7 12 -20 10 -40 8 -60 6 -80 -100 4 -116.7 -120 2 -140 0 12m15 12m16 12m17 12m18 6m19 2015 2016 2017 2018 6m 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 15 10.8 10 7.9 6.8 5 0 12m 2015 12m 2016 12m 2017 12m 2018 6m 2019 CAPEX Own work capitalized OHB 20 AG
Slide 21: Shareholder's structure as of August 2019
Shareholder’s structure as of August 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 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 May 2019 Pareto Securities 42.00 EUR Buy 22 OHB AG
Slide 23: The stock at a glance
The stock at a glance 23 EUR 6M/2018 6M/2019 ∆ High, Xetra 49.75 36.80 -26% Low, Xetra 27.55 29.60 +7% Closing price, Xetra 28.00 33.45 +19% Average daily trading volumes (Xetra + floor) 16,183 4,051 -75% Market capitalisation, Xetra 489,106,688 584,307,811 19% Number of shares 17,468,096 17,468,096
Slide 24: Financial calendar 2019
Financial calendar 2019 • August 13, 2019 Six-month interim report 2019, conference call • August 28-29, 2019 Commerzbank Sector Conference / Frankfurt am Main • September 23-25, 2019 Berenberg German Corporate Conference / Munich • November 12, 2019 Nine-month interim report 2019, conference call •