Slide 1: Analyst Conference Q2/Six-Month Results 2023 & Investment Agreement with KKR
ANALYST CONFERENCE | Q2/SIX-MONTH RESULTS 2023 & INVESTMENT AGREEMENT WITH KKR AUGUST 7, 2023 MARCO FUCHS, CEO KURT MELCHING, CFO DR. LUTZ BERTLING, CDO DR. MARKUS MOELLER, CSO DANIELA SCHMIDT, CISO KLAUS HOFMANN, CHRO SABINE VON DER RECKE, MEMBER OF THE MANAGEMENT BOARD – OHB SYSTEM AG ANALYST CONF
Slide 2: Business Segment Overview
BUSINESS SEGMENT OVERVIEW ANALYST CONFERENCE – Q2/SIX-MONTH RESULTS 2023 // AUGUST 7, 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: OHB Welcomes KKR to Become Long-Term Minority Investor in OHB
OHB WELCOMES KKR TO BECOME LONG-TERM MINORITY INVESTOR IN OHB VIA CAPITAL INCREASE AND SEPARATE PUBLIC TAKEOVER OFFER KKR •A OHB capital raise for 10 % of current share capital subscribed for by KKR at a subscription price of EUR 44 per share ▪ Capital injection of EUR 77 million into OHB ▪ Capital
Slide 5: OHB With Enhanced Financial Flexibility Through KKR Minority Investment
OHB WITH ENHANCED FINANCIAL FLEXIBILITY THROUGH KKR MINORITY INVESTMENT TO IMPLEMENT THE CORPORATE STRATEGY ✓ ▪ KKR as the ideal long-term partner to support OHB group’s strategy to become the leading space solutions provider in Europe Strengthening of equity capital base ▪ Increased financial flexi
Slide 6: Public Takeover Offer Allows OHB Free Float Shareholders Immediate Realization of Value
PUBLIC TAKEOVER OFFER ALLOWS OHB FREE FLOAT SHAREHOLDERS IMMEDIATE REALIZATION OF SIGNIFICANT VALUE Attractive premium for non-control transaction(1) ▪ ~ 36.6 % premium to share price of EUR 32.20 as of 04-Aug-23 EUR 44 offer price ▪ ~ 39.1 % premium to 3M VWAP of EUR 31.63 as of 04-Aug-23 ▪ ~ 19.9
Slide 7: Next Steps in the Public Takeover Process
NEXT STEPS IN THE PUBLIC TAKEOVER PROCESS Reasoned Announcement of Publication of statement by decision to make a the offer OHB Management / Announcement of Announcement of public takeover offer document Supervisory Board results final results Additional acceptance KKR to Review by Acceptance period
Slide 8: OHB Asserts Role as Key Player for European Sovereignty
OHB ASSERTS ROLE AS KEY PLAYER FOR EUROPEAN SOVEREIGNTY ▪ Heinrich Hertz − German geostationary telecommunications satellite developed and built by OHB − Successful launch on board of the last Ariane 5 launcher on July 5 − OHB Digital Connect contracted for operating the mission in June: − Contract
Slide 9: Rocket Factory Augsburg Successfully Completed Integrated Systems Test Campaign
ROCKET FACTORY AUGSBURG SUCCESSFULLY COMPLETED INTEGRATED SYSTEMS TEST CAMPAIGN ▪ Builds on successful hot fire test last summer that demonstrated: − High durability → No hardware replacements were necessary between ignitions − Proven capability for multiple ignition − Potential for up-throttling to
Slide 10: Development of Order Backlog
DEVELOPMENT OF ORDER BACKLOG IN EUR MILLION 2632 2300 2439 2399 2100 2121 1840 1875 1805 1600 1700 1600 1200 1000 834 534 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 6m 2023 ANALYST CONFERENCE – Q2/SIX-MONTH RESULTS 2023 // AUGUST 7, 2023 10
Slide 11: The Group in Brief
THE GROUP IN BRIEF FINANCIAL FIGURES IN EUR 000 6m 2023 6m 2022 Change in % Order backlog (June 30) 1,805,395 1,846,464 -2 Total revenues 456,619 442,819 +3 EBITDA 44,114 42,836 +3 EBIT 25,961 25,439 +2 EBT 19,632 23,928 -18 Net profit after minorities 13,694 15,291 -10 EPS (EUR) 0.79 0.88 -10 Emplo
Slide 12: Development of Financial Key Figures for the Group
DEVELOPMENT OF FINANCIAL KEY FIGURES FOR THE GROUP IN EUR MILLION Total revenues Profitability 443 457 EBITDA EBIT 425 396 402 44.1 42.8 39.3 36.0 36.6 25.4 26.0 21.7 19.9 21.4 6m 2019 6m 2020 6m 2021 6m 2022 6m 2023 6m 2019 6m 2020 6m 2021 6m 2022 6m 2023 6m 2023 EBIT margin: 5.7 % (6m 2022: 5.7 %)
Slide 13: Space Systems
SPACE SYSTEMS IN EUR MILLION Total revenues Profitability 365 356 EBITDA EBIT 339 326 322 34.9 33.9 28.9 28.9 30.1 22.1 21,1 17.8 17.4 15.2 6m 2019 6m 2020 6m 2021 6m 2022 6m 2023 6m 2019 6m 2020 6m 2021 6m 2022 6m 2023 6m 2023 EBIT margin: 5.9 % (6m 2022: 4.8 %) ANALYST CONFERENCE – Q2/SIX-MONTH RE
Slide 14: Aerospace
AEROSPACE IN EUR MILLION Total revenues Profitability 88 EBITDA EBIT 7.2 6.7 5.4 58 60 3.9 54 2.9 3.2 1.3 40 -0.4 -1.7 -4.8 6m 2019 6m 2020 6m 2021 6m 2022 6m 2023 6m 2019 6m 2020 6m 2021 6m 2022 6m 2023 6m 2023 EBIT margin: 2.1 % (6m 2022: 5.9 %) ANALYST CONFERENCE – Q2/SIX-MONTH RESULTS 2023 // AU
Slide 15: Digital
DIGITAL IN EUR MILLION Total revenues Profitability EBITDA EBIT 52 52 49 11.7 10.7 6.1 4.9 4.7 22 3.5 -0.9 -1.5 6m 2020 6m 2021 6m 2022 6m 2023 6m 2020 6m 2021 6m 2022 6m 2023 6m 2023 EBIT margin: 6.8 % (6m 2022: 10.1 %) ANALYST CONFERENCE – Q2/SIX-MONTH RESULTS 2023 // AUGUST 7, 2023 15
Slide 16: 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 – Q2/
Slide 17: 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 18: Assets
ASSETS IN EUR 000 June 30, 2023 December 31, 2022 Change in % Non-current assets 382,513 358,840 +7 Property, plant and equipment 107,530 107,206 0 Rights of use from leasing agreements 41,040 45,718 -10 Other intangible assets 121,262 124,371 -3 Others 112,681 81,545 +38 Current assets 771,988 721,
Slide 19: Shareholder's Equity and Liabilities
SHAREHOLDER‘S EQUITY AND LIABILITIES IN EUR 000 June 30, 2023 December 31, 2022 Change in % Equity 296,269 293,468 +1 Non-current liabilities and provisions 259,403 261,237 -1 Provisions for pensions 71,375 71,616 0 Leasing liabilities 32,257 36,786 -12 Deferred tax liabilities 68,424 62,847 +9 Othe
Slide 20: Financial Figures
FINANCIAL FIGURES IN EUR MILLION 6m 2023 3m 2023 FY 2022 9m 2022 6m 2022 Free cash flow -112 -62 -14 -129 -137 Net debt 307 241 173 287 292 Net debt ex pensions 235 169 102 207 211 CapEx (incl. financial assets) 8 4 20 14 11 Own work capitalized (additions) 3 2 12 6 4 ROCE 7% 8% 12 % 10 % 10 % ANALY
Slide 21: Development of Net Debt
DEVELOPMENT OF NET DEBT AS OF THE BALANCE SHEET DATE OF THE RESPECTIVE REPORTING PERIOD | IN EUR MILLION 307 292 287 241 235 211 207 173 169 102 6m 2022 9m 2022 FY 2022 3m 2023 6m 2023 Net debt Net debt ex pensions ANALYST CONFERENCE – Q2/SIX-MONTH RESULTS 2023 // AUGUST 7, 2023 21
Slide 22: 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 8 6 4 4 3 2 6m 2022 9m 2022 FY 2022 3m 2023 6m 2023 CapEx Own work capitalized ANALYST CONFERENCE – Q2/SIX-MONTH RESULTS 2023 // AUGUST 7, 2023 22
Slide 23: 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 % 12 -14 10 10 -62 8 -112 7 -129 -137 6m 2022 9m 2022 FY 2022 3m 2023 6m 2023 6m 2022 9m 2022 FY 2022 3m 2023 6m 2023 ANALYST CONFERENCE – Q2/SIX-MONTH RESULTS
Slide 24: Q&A
Q&A ANALYST CONFERENCE – Q2/SIX-MONTH RESULTS 2023 // AUGUST 7, 2023 24
Slide 25: 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 – Q2/SIX-MONTH RESULTS 2023 // AUGUST 7, 2023 25
Slide 26: Important Notice
Important Notice This release may not be published, distributed or transmitted in the United States of America (including its territories and possessions, any state of the United States and the District of Columbia, “United States“), Canada, Australia, Japan or any other jurisdiction in which the pu