Slide 1: Conference Call OHB SE Q2/Six-month results 2018
August 9, 2018 Conference Call OHB SE Q2/Six-month results 2018 Marco Fuchs, Chairman of the Management Board Kurt Melching, Member of the Management Board OHB AG
Slide 2: Corporate news OHB SE
Corporate news OHB SE • Kurt Melching (Finance) and Dr. Lutz Bertling (Corporate & Business Development, Digitalisation, Services) appointed to the Management Board of OHB SE, effective April 1, 2018 • Dr. Fritz Merkle resigned from the Management Board on June 30, 2018 • Robert Wethmar elected as n
Slide 3: Recent news flow from the subsidiaries
Recent news flow from the subsidiaries • OHB System AG´s proposal for PLATO project selected by ESA, first activities have already started on the basis of an authorisation to proceed letter (contract will be signed during the International Astronautical Congress in October in Bremen, probable contra
Slide 4: Status update: Galileo
Status update: Galileo • Total number of satellites ordered by ESA: 34 (as of August 2018) • Contract volume: EUR 1.3 billion • 26 satellites of the Galileo system are already in orbit, 22 were developed, built and delivered by OHB • The last launch of Batch 2 took place on 25 July 2018 (Galileo FOC
Slide 5: Copernicus: Europe’s Satellite System for environmental monitoring
Copernicus: Europe’s Satellite System for environmental monitoring • The programme is managed by the European Space Agency (ESA) on behalf of the European Commission (EC) • OHB is involved since June 2018 • Objective: Collect data on temperature changes, ground conditions and chemical composition of
Slide 6: Copernicus: Europe’s Satellite System for environmental monitoring
Copernicus: Europe’s Satellite System for environmental monitoring OHB‘s contribution to the programme OHB System OHB Sweden OHB Italia • 18.04.2018: Award of contract for three • 20.04.2018: Award of contract for one • 20.04.2018: Award of contract for one satellite system studies satellite system
Slide 7: Development of resources for EC projects in EUR billion (2014-2027)
Development of resources for EC projects in EUR billion (2014-2027) The stated figures for the MFF 2021-2027 reflect the proposal made by the European Commission on June 6, 2018 10 9.7 9 8 7 7.07 6 5.8 5 4 4.3 3 2 1 0 Copernicus Galileo 2014-2020 2021-2027 7 OHB AG
Slide 8: Space Situational Awareness
OHB participates in the SST segment via the ‘Neosted Telescope’ Space Surveillance and Tracking OHB participates in the NEO segment via the Space OHB participates in the SWE segment via the ‘Hera mission’ Situational ‘Lagrange mission’ Awareness (SSA) Near Earth Objects Space Weather 8 OHB AG
Slide 9: OHB expands its activities in the field of earth protection: HERA
OHB expands its activities in the field of earth protection: HERA OHB System • 08.2018: OHB System has been selected by the ESA as prime contractor for a study on the asteroid mission HERA. • The aim of the study: • Perform detailed mission definition and technical design for a probe that will fly t
Slide 10: The Group in brief 6M/2018 in EUR (000)
The Group in brief 6M/2018 in EUR (000) 6M/2017 6M/2018 Δ Order backlog (June 30) 2,219,973 2,368,867 +7% Total revenues 354,153 404,461 + 14% EBITDA 25,796 29,313 + 14% EBIT 19,254 21,029 + 9% EBT 17,820 19,023 + 7% Net profit after minorities 10,566 11,275 + 7% EPS (EUR) 0.61 0.65 + 7% 10 OHB AG
Slide 11: Group results
Group results Total revenues 500 404 6m 2018 400 315 316 354 11 in EUR million 300 200 100 0 6m 2015 6m 2016 6m 2017 6m 2018 EBITDA 29.3 30 24.0 25.8 25 22.2 20 15 10 5 0 6m 2015 6m 2016 6m 2017 6m 2018 EBIT 6M/2018: EBIT margin 5.2 %, EBIT margin on own value added 9.3 % 25 21.0 18.3 19.3 20 16.3 1
Slide 12: Space Systems
Space Systems Total revenues 350 315 6m 2018 300 236 237 261 250 in EUR million 200 150 100 50 0 6m 2015 6m 2016 6m 2017 6m 2018 EBITDA 25 20.2 20 14.9 15.1 15 12.5 10 5 0 6m 2015 6m 2016 6m 2017 6m 2018 EBIT 6M/2018: EBIT margin 4.7%, EBIT margin on own value added 10.3% 14.7 15 11.3 11.2 10 8.9 5
Slide 13: Aerospace + Industrial Products
Total revenues Aerospace + 120 98 Industrial Products 100 80 82 82 94 13 6m 2018 60 in EUR million 40 20 0 6m 2015 6m 2016 6m 2017 6m 2018 EBITDA 12 10.7 9.4 9.5 9.2 10 8 6 4 2 0 6m 2015 6m 2016 6m 2017 6m 2018 EBIT 6M/2018: EBIT margin 6.8 %, EBIT margin on own value added 7.6 % 9 8.1 8 7.1 7.4 7 6
Slide 14: Guidance 2018 in EUR million
Guidance 2018 in EUR million Full-year 2018 guidance reiterated Total revenues 1000 1000 860 1000 730 728 800 404 600 500 400 200 0 0 2015 2016 2017 6m 2018 2018E EBITDA 65 70 55.1 58.8 70 60 52.1 60 50 50 40 29.3 40 30 30 20 20 10 10 0 0 2015 2016 2017 6m 2018 2018E EBIT 44.2 47 50 40.2 42.7 50 40
Slide 15: Cash Flow in EUR (000)
Cash Flow in EUR (000) 6M/2017 6M/2018 Net outflow of funds for operating activities - 76,491 - 41,693 Net outflow of funds due to investment activities - 17,098 - 7,431 Net inflow of funds from financing activities 73,420 81,606 Change in liquid funds - 20,169 32,482 Others 48 - 257 Liquid funds at
Slide 16: The Group in brief – Assets in EUR (000)
The Group in brief – Assets in EUR (000) 12/31/2017 06/30/2018 ∆ Non-current assets 239,549 246,120 + 3% Property, plant and equipment 77,698 81,189 + 4% Other financial assets 32,610 29,880 - 8% Other intangible assets 103,217 105,983 + 3% Others 26,024 29,068 + 12% Current assets 480,149 517,533 +
Slide 17: The Group in brief – Shareholder’s equity and liabilities in EUR (000)
The Group in brief – Shareholder’s equity and liabilities in EUR (000) 12/31/2017 06/30/2018 ∆ Equity 207,280 186,346 - 10% Non-current liabilities and provisions 173,688 184,861 + 6% Provisions for pensions 96,587 95,692 - 1% Deferred tax liabilities 36,505 34,147 - 7% Others 40,596 55,022 + 36% Cu
Slide 18: Shareholder’s structure as of August 2018
Shareholder’s structure as of August 2018 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% Market capitalisation as of August 8: 529,283,308.8 € 18 OHB AG
Slide 19: Analyst ratings
Analyst ratings 19 Date Institution Price target Recommendation August 2018 equinet Bank 40.00 EUR Neutral August 2018 Commerzbank 30.00 EUR Hold August 2018 Bankhaus Lampe 50.00 EUR Buy June 2018 DZ Bank 41.00 EUR Buy May 2018 HSBC Trinkaus & Burkhardt 34.00 EUR Hold 19 OHB AG
Slide 20: The stock at a glance
The stock at a glance 20 EUR 6M/2017 6M/2018 ∆ High, Xetra 28.00 49.75 +78% Low, Xetra 18.27 27.55 +51% Closing price, Xetra 26.56 28.00 +5% Average daily trading volumes (Xetra + floor) 12,763 16,183 +27% Market capitalisation, Xetra 463,952,630 489,106,688 +5% Number of shares 17,468,096 17,468,09
Slide 21: Financial calendar 2018 / 2019
Financial calendar 2018 / 2019 • August 9, 2018 Six-month report 2018, conference call • August 28-30, 2018 Commerzbank Sector Conference / FFM • September 24-26, 2018 Berenberg & Goldmann Sachs German Corporate Conference / Munich • November 13, 2018 Nine-month report 2018, conference call • Novemb