Slide 1: Conference Call OHB SE Three-month results
May 9, 2018 Conference Call OHB SE Three‐month results Marco Fuchs, Chairman of the Management Board Kurt Melching, Member of the Management Board
Slide 2: Corporate News OHB SE
Corporate News OHB SE • Kurt Melching and Dr. Lutz Bertling appointed to the Management Board of OHB SE • Robert Wethmar new Chairman of the Supervisory Board • New company OHB Satellitenbetrieb GmbH established • OHB expands activities in the Life Science sector with the founding of Blue Horizon De
Slide 3: Recent newsflow from the subsidiaries (I)
Recent newsflow from the subsidiaries (I) • OHB System AG proposal for PLATO project selected by ESA (probable contract volume: EUR 297 million, negotiations will start in June • First pair of Galileo satellites was shipped to Kourou on May 3 for the launch in July • OHB System received order for ca
Slide 4: Recent newsflow from the subsidiaries (II)
Recent newsflow from the subsidiaries (II) • MT Aerospace awarded contract for the production of ten Ariane 5 sets (contract volume EUR 105 million) • MT Aerospace shipped the first tank for Ariane 6 to the prime contractor (ArianeGroup in Bremen) • OHB Logistic Solutions received first order‐intake
Slide 5: Proposal of the European Commission for the 2021-2027 multiannual financial framework (MFF)
Proposal of the European Commission for the 2021‐2027 multiannual financial framework (MFF) • Total amount for 2021‐2027 MFF: EUR 1,279 billion (1.11% of EU GDP). • The European Commission proposes an allocation of approx. EUR 16 billion for “space” (this budget does not include the amount to be all
Slide 6: The Group in brief 3M/2018
The Group in brief 3M/2018 EUR (000) 3M/2017 3M/2018 ∆ Order backlog (March 31) 1,523,447 2,396,742 +57% Total revenues 165,319 189,713 +15% EBITDA 12,727 14,242 +12% EBIT 9,416 10,220 +9% EBT 8,708 9,365 +8% Net profit after minorities 5,382 5,875 +9% EPS (EUR) 0.31 0.34 +10% 6
Slide 7: Group results
Group results Total Revenues 190 3m 2018 200 153 157 165 EUR million 150 100 50 0 3m 2015 3m 2016 3m 2017 3m 2018 EBITDA 14.2 14 12.7 10.8 10.7 12 10 8 6 4 2 0 3m 2015 3m 2016 3m 2017 3m2018 EBIT 3M/2018: EBIT margin 5.4 %, EBIT margin on own value added 9.6 % 12 10.2 10 9.4 7.8 7.8 8 6 4 2 0 3m 201
Slide 8: Space Systems
Total revenues Space Systems 200 3m 2018 150 118 119 147 114 EUR million 100 50 0 3m 2015 3m 2016 3m 2017 3m 2018 EBITDA 12 9.9 10 8.0 8.6 7.5 8 6 4 2 0 3m 2015 3m 2016 3m 2017 3m 2018 EBIT 3M/2018: EBIT margin 4.9%, EBIT margin on own value added 10.8% 8 7.2 6.2 6.6 5.7 6 4 2 0 3m 2015 3m 2016 3m 2
Slide 9: Aerospace + Industrial Products
Aerospace + Total Revenues 60 55 Industrial Products 50 40 36 39 44 3m 2018 30 20 EUR million 10 0 3m 2015 3m 2016 3m 2017 3m 2018 EBITDA 5 4.3 4.4 4 3.0 2.8 3 2 1 0 3m 2015 3m 2016 3m 2017 3m 2018 3M/2018: EBIT margin 6.9 %, EBIT margin on own value added 7.6 % EBIT 4 3.0 3.0 3 1.9 1.8 2 1 0 3m 201
Slide 10: Guidance 2018
Guidance 2018 Full year 2018 guidance reiterated Total Revenues 190 1,000 200 1000 157 165 153 800 150 600 100 400 50 200 0 0 3m 2015 3m 2016 3m 2017 3m 2018 2018E EBITDA 14.2 65 16 12.7 70 14 60 12 10.8 10.7 50 10 40 8 6 30 4 20 2 10 0 0 3m 2015 3m 2016 3m 2017 3m2018 2018E EBIT 47 12 50 10.2 10 9.
Slide 11: Cash Flow / EUR (000)
Cash Flow / EUR (000) 3M/2017 3M/2018 Net outflow of funds for operating activities ‐29,224 ‐49,081 Net outflow of funds due to investment activities ‐10,218 ‐3,121 Net inflow of funds from financing activities 38,924 43,880 Change in liquid funds ‐518 ‐8,322 Others 18 ‐48 Liquid funds at the beginn
Slide 12: The Group in brief – Assets / EUR (000)
The Group in brief – Assets / EUR (000) 12/31/2017 03/31/2018 ∆ Non‐current assets 239,549 242,786 +3,237 Property, plant and equipment 77,698 78,937 +1,239 Other financial assets 32,610 30,763 ‐1,847 Other intangible assets 103,217 104,279 +1,062 Others 26,024 28,807 +2,783 Current assets 480,149 4
Slide 13: The Group in brief – Shareholder's equity and liabilities / EUR (000)
The Group in brief – Shareholder’s equity and liabilities / EUR (000) 12/31/2017 03/31/2018 ∆ Equity 207,280 187,896 ‐19,384 Non‐current liabilities 173,688 190,830 +17,142 and provisions Provisions for pensions 96,587 96,279 ‐308 Deferred tax liabilities 36,505 32,842 ‐3,663 Others 40,596 61,709 +
Slide 14: International Financial Reporting Standard 15
International Financial Reporting Standard 15 • IFRS 15 (Revenue from contracts with customers) replaces • IAS 11 (Construction contracts) and • IAS 18 (Revenue) • effective for annual periods beginning on or after 1 January 2017 (to be applied on contracts with customers which haven’t been complete
Slide 15: Shareholder's structure
Shareholder’s structure May 2018 Total issued capital 17,468,096 shares Treasury Stock 80,496 shares 0.46 % Free Float Fuchs Pool 5,208,880 shares 12,178,720 shares 29.82 % 69.72 % 15 OHB AG
Slide 16: Analyst ratings
Analyst ratings Date Institution Price target Recommendation May 2018 Bankhaus Lampe 50.00 EUR buy May 2018 Equinet Bank 40.00 EUR neutral May 2018 HSBC Trinkaus & Burkhardt 34.00 EUR hold May 2018 Commerzbank 30.00 EUR reduce February 2018 DZ Bank 48.00 EUR buy 16 16
Slide 17: The stock at a glance
The stock at a glance EUR 3M/2017 3M/2018 High, Xetra 21.18 49.75 Low, Xetra 18.27 34.90 Closing price, Xetra 20.60 35.20 Average daily trading volumes (Xetra + floor) 6,557 26,177 Market capitalisation, Xetra 359,842,777 614,876,979 Number of shares 17,468,096 17,468,096 1717
Slide 18: Financial calendar 2018
Financial calendar 2018 May 9, 2018 Three‐month report 2018, conference call May 24, 2018 Annual general meeting / Bremen August 9, 2018 Six‐month report 2018, conference call November 13, 2018 Nine‐month report 2018, conference call November 26‐28, 2018 Analyst presentation, Deutsches Eigenkapitalf