Slide 1: Conference Call OHB SE Q2/Six-month results 2020
Conference Call OHB SE Q2/Six-month results 2020 August 11, 2020 Marco Fuchs, CEO Kurt Melching, CFO Dr. Lutz Bertling, CSDO / CDO
Slide 2: OHB covers all stages of the value chain
2 OHB covers all stages of the value chain development, Launchers, in-orbit operations exploitation of integration and testing access to space & terrestrial data generated of satellites services by space-based systems
Slide 3: Shareholder structure OHB SE // Management Board
3 Introduction Shareholder structure OHB SE // Management Board Total issued capital – 17,468,096 shares Free Float 5,246,380 shares; Fuchs Pool 30.03% 12,178,720 shares; 69.72% Treasury Stock from left to right: 42,996 shares; Dr. Lutz Bertling, CSDO / CDO 0.25% Marco Fuchs, CEO Klaus Hofmann
Slide 4: OHB Digital complements the business areas
4 OHB Digital complements the business areas OHB System AG OHB Digital Connect GmbH MT Aerospace AG OHB Digital Services GmbH OHB Italia S.p.A. Aerotech Peissenberg OHB Digital Solutions GmbH OHB Sweden AG GmbH & Co. KG (ATP)* OHB Infosys GmbH Antwerp Space N.V. Rocket Factory Augsburg OHB Teledata
Slide 5: OHB Digital Market segments
OHB Digital Market segments 5 Antennas & Telescopes Operations Ground stations Downstream applications Downstream applications EO Telecom • Antennas for satellite • Satellite operations as a • System design and integration • Sensor data processing communication service capabilities of ground station
Slide 6: Space Systems – Progress of selected projects
6 Business year 2020 Space Systems – Progress of selected projects The hyperspectral instrument (HSI) for the EnMAP satellite is undergoing the environmental test campaign at IABG. The complex optical instrument has already successfully completed functional, vibration and sound tests. Expected lau
Slide 7: Space Systems - Order-intake Q3 2020
7 Business year 2020 Space Systems - Order-intake Q3 2020 OHB proposals for the Copernicus project selected by ESA OHB System AG has been selected and contracted by the European Space Agency ESA as the prime contractor for the CO2M mission (CO2 Monitoring Mission in the Copernicus program). Contra
Slide 8: Space Systems: Copernicus - Earth observation
8 Space Systems: Copernicus - Earth observation CO2M CHIME CIMR Arctic Weather Satellite (ESA-EO) Mission Prime: OHB System Payload Prime: OHB System Payload Prime: OHB Italia Mission Prime: OHB Sweden Contract signed on Final contract negotiations are in process OHB Sweden wins July 31 and contract
Slide 9: Development of order-backlog in EUR million
9 6m 2020 Development of order-backlog in EUR million 2500 2000 1500 2,300 2,400 2,400 1000 2,100 1,700 1,840 1,600 1,600 1,560 1,200 500 834 1,000 447 534 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 6M/2020
Slide 10: Potential incoming orders - expectations in EUR million
10 Business year 2020 and beyond Potential incoming orders - expectations in EUR million Programme / Project Budgetary authority Volume Copernicus & Arctic Weather Satellite ESA / European Commission >=900 Galileo Second Generation (2021) ESA / European Commission >=300 Hera (Space Safety) ESA >=135
Slide 11: Potential impact of COVID-19 on order-intake
11 Business year 2020/2021 Potential impact of COVID-19 on order-intake All institutional: Customers have implemented strong initiatives to support liquidity of industry and to ensure contract awards as close as planned ESA: no impact beyond shift of contract awards by some months EU: decision
Slide 12: Aerospace - Reduced production of Ariane 6: European launcher industry in distress
12 Business year 2020 Aerospace - Reduced production of Ariane 6: European launcher industry in distress MT Aerospace AG in Augsburg strongly affected The initial launch of Ariane 6 has been postponed to late 2021, meaning that series production will commence at a later date and on a smaller scale
Slide 13: The Group in brief 6M/2020 in EUR (000)
13 6m 2020 The Group in brief 6M/2020 in EUR (000) 6m 2019 6m 2020 Change in % Order backlog (June 30) 2,062,743 1,560,226 -24 Total revenues 424,665 395,938 -7 EBITDA 36,024 36,591 2 EBIT 21,662 19,874 -8 EBT 19,458 16,097 -17 Net profit after minorities 11,882 10,793 -9 EPS (EUR) 0.68 0.62 -8 Empl
Slide 14: Development of financial ratios for the group
14 6m 2020 Development of financial ratios for the group Total revenues / EUR (000) EBITDA & EBIT / EUR (000) 500 50 450 425 45 404 396 400 40 36.6 354 36.0 350 35 29.3 300 30 25.8 250 25 21.7 19.3 21.0 19.9 200 20 150 15 100 10 50 5 0 0 6m 2017 6m 2018 6m 2019 6m 2020 6m 2017 6m 2018 6m 2019 6m 202
Slide 15: Space Systems
15 6m 2020 Space Systems Total revenues / EUR (000) EBITDA & EBIT / EUR (000) 400 50 339 45 350 315 325 40 300 35.5 261 35 250 30 28.9 200 25 22.7 20.2 20 17.8 150 15.1 14.7 15 11.2 100 10 50 5 0 0 6m 2017 6m 2018 6m 2019 6m 2020 6m 2017 6m 2018 6m 2019 6m 2020 6M/2020 EBIT margin 7.0 %, EBIT margin
Slide 16: Aerospace + Industrial products
16 6m 2020 Aerospace + Industrial products Total revenues / EUR (000) EBITDA & EBIT / EUR (000) 120 15 13 98 10.7 100 94 11 88 9.2 9 8.1 80 73 7.2 7 6.4 60 5 3.9 3 1.4 40 1 -1 20 6m 2017 6m 2018 6m 2019 6m 2020 -3 -2.5 0 -5 6m 2017 6m 2018 6m 2019 6m 2020 6M/2020 EBIT margin -3.4 %, EBIT margin on o
Slide 17: Financial Guidance 2020
17 6m 2020 Financial Guidance 2020 During the Capital Market Day on 13 February 2020, the Management Board issued the following guidance for the 2020 financial year: Total revenues / EUR (000) EBITDA & EBIT / EUR (000) 78 80 1200 1,030 1,100 80 1,000 65 860 59 60 48 49 800 44 44 40 400 20 0 0 2017 2
Slide 18: Assets / EUR (000)
18 6m 2020 Assets / EUR (000) 12/31/2019 06/30/2020 Change in % Non-current assets 348,625 359,519 3 Property, plant and equipment 95,440 95,556 0 Rights of use from leasing agreements 54,878 60,678 11 Other intangible assets 116,309 116,259 0 Others 81,998 87,026 6 Current assets 582,394 565,224 -3
Slide 19: Shareholder's equity and liabilities / EUR (000)
19 6m 2020 Shareholder‘s equity and liabilities/ EUR (000) 12/31/2019 06/30/2020 Change in % Equity 200,830 212,223 6 Non-current liabilities and provisions 224,223 226,998 1 Provisions for pensions 108,252 106,518 -2 Leasing liabilities 42,561 48,666 14 Deferred tax liabilities 38,319 39,509 3 Othe
Slide 20: Financial ratios (in EUR million)
20 6m 2020 Financial ratios (in EUR million) 3m 2019 6m2019 3m 2020 6m 2020 Free Cash flow -53 -117 -54 -64 Net debt 163 237 192 207 Net debt ex pensions 64 139 84 101 CAPEX (incl. financial assets) 3 11 4 12 Own work capitalized (additions) 3 7 1 3 ROCE 14% 13% 12% 12%
Slide 21: Development of the ratio net debt
21 6m 2020 Development of the ratio net debt as of the balance sheet date of the respective reporting period / in EUR million 300 250 237 207 200 192 163 150 139 101 100 84 64 50 0 3m 2019 6m 2019 3m 2020 6m 2020 Net debt Net debt ex pensions
Slide 22: Development of investment spending
22 6m 2020 Development of investment spending as of the balance sheet date of the respective reporting period / in EUR million 14 12 12 11 10 8 7 6 4 4 3 3 3 2 1 0 3m 2019 6m 2019 3m 2020 6m 2020 CAPEX Own work capitalised
Slide 23: Development of free cash flow / ROCE
23 6m 2020 Development of free cash flow / ROCE as of the balance sheet date of the respective reporting period Free cash flow / in EUR million ROCE in % 30 16 10 15 -10 3m 2019 6m 2019 3m 2020 6m 2020 -30 14 -50 -53 -54 13 -70 -64 -90 12 -110 11 -130 -117 -150 10 3m 2019 6m 2019 3m 2020 6m 2020 Loo
Slide 24: Financial Calendar 2020
24 Business year 2020 Financial Calendar 2020 August 11, 2020 Six-month interim report 2020, conference call August 18-19, 2020 Bankhaus Lampe conference (virtual) September 23, 2020 Berenberg / Goldman Sachs conference (virtual) November 12, 2020 Nine-month interim report 2020, conference call Nove