Slide 1: Conference Call OHB SE Q3/Nine-month results 2018
November 13, 2018 Conference Call OHB SE Q3/Nine-month results 2018 Marco Fuchs, Chief Executive Officer Kurt Melching, Member of the Management Board OHB AG
Slide 2: Recent news flow from the subsidiaries
Recent news flow from the subsidiaries • PLATO contract signed on October 4 by OHB System AG and ESA (OHB’s first ESA science mission as a prime contractor), order volume: EUR 288 million • OHB System's Galileo satellites 19-22 (completion of work order 2) were successfully launched on July 25, 2018
Slide 3: 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 • The last launch of Batch 2 took place on 25 July 2018 (Galileo FOC-M8) • Batch 2 is thus
Slide 4: Recent news flow from the subsidiaries
Recent news flow from the subsidiaries • OHB Italia signs contract worth EUR 168.2 million for the realization of a hyperspectral earth observation satellite with Luxembourg • OHB Italia’s PRISMA satellite undergoes environmental testing (launch planned for H1 2019) • OHB system participating in ESA
Slide 5: Lunar Orbital Platform Gateway
OHB GATEWAY restrain te icon Power and Propulsion Elemen neg nd aren ESPRIT: Scionoe alock, actional NASA-led architecture and integration International The In a por Robotic Arm: Mechanical am to end inspect Habitation red vol ont - equipment. Modules may cba are Modules: ik son a 2
Slide 6: Recent news flow from the subsidiaries
Recent news flow from the subsidiaries • OHB System develops and builds ground segment for connecting France to German radar reconnaissance system (contract signed on October 24). OHB is also selected to operate the system (for a period up to 10 years) • Telecommunications satellite EDRS-C satellite
Slide 7: Intermediate Ministerial Meeting concluded on October 25
Intermediate Ministerial Meeting concluded on October 25 • The Intermediate Ministerial Meeting was a milestone on the road to ‘Space19+’, ESA’s next Council at ministerial level which will be held in November 2019 in Seville, Spain. • Ministers in charge of space matters in the ESA Member States we
Slide 8: Intermediate Ministerial Meeting concluded on October 25, 2018
Intermediate Ministerial Meeting concluded on October 25, 2018 • In the margins of the meeting, two signatures also took place: • a joint statement was signed on the institutional exploitation of Ariane 6 and Vega-C: the signatories express their full support of the European launcher industry and of
Slide 9: The Group in brief 9M/2018 in EUR (000)
The Group in brief 9M/2018 in EUR (000) 9M/2017 9M/2018 Δ Order backlog (September 30) 2,049,423 2,408,298 +18% Total revenues 540,976 633,705 + 17% EBITDA 41,577 47,107 + 13% EBIT 31,712 34,448 + 9% EBT 29,557 31,722 + 7% Net profit after minorities 18,109 18,440 + 2% EPS (EUR) 1,04 1,06 + 2% Emplo
Slide 10: Group results
Total revenues Group results 700 634 9m 2018 600 534 507 541 10 500 in EUR million 400 300 200 100 0 9m 2015 9m 2016 9m 2017 9m 2018 EBITDA 50 47.1 41.6 37.4 37.5 40 30 20 10 0 9m 2015 9m 2016 9m 2017 9m 2018 EBIT 9M/2018: EBIT margin 5.4 %, EBIT margin on own value added 10.1 % 50 40 31.7 34.4 28.7
Slide 11: Space Systems
Total revenues Space Systems 600 499 9m 2018 500 408 387 404 in EUR million 400 300 200 100 0 9m 2015 9m 2016 9m 2017 9m 2018 EBITDA 35 31.4 30 24.7 24.4 25 21.8 20 15 10 5 0 9m 2015 9m 2016 9m 2017 9m 2018 EBIT 9M/2018: EBIT margin 4.6%, EBIT margin on own value added 10.6% 35 30 25 23.1 19.1 18.5
Slide 12: Aerospace + Industrial Products
Total revenues Aerospace + 145 160 141 Industrial Products 120 131 123 12 9m 2018 80 in EUR million 40 0 9m 2015 9m 2016 9m 2017 9m 2018 EBITDA 20 17.2 15.7 15.6 16 13.1 12 8 4 0 9m 2015 9m 2016 9m 2017 9m 2018 EBIT 9M/2018: EBIT margin 8.1 %, EBIT margin on own value added 9.1 % 20 16 12.3 13.3 11.
Slide 13: Guidance 2018 in EUR million
Guidance 2018 in EUR million Full-year 2018 guidance reiterated Total revenues 1000 800 634 1000 600 534 507 541 800 600 400 400 200 200 0 0 9m 2015 9m 2016 9m 2017 9m 2018 2018E EBITDA 47.1 65 50 41.6 70 37.4 37.5 60 40 50 30 40 20 30 20 10 10 0 0 9m 2015 9m 2016 9m 2017 9m 2018 2018E EBIT 47 50 50
Slide 14: Cash Flow in EUR (000)
Cash Flow in EUR (000) 9M/2017 9M/2018 Net outflow of funds for operating activities - 33,051 - 35,132 Net outflow of funds due to investment activities -19,776 - 13,651 Net inflow of funds from financing activities 41,203 55,054 Change in liquid funds - 11,624 6,271 Others 201 1,117 Liquid funds at
Slide 15: The Group in brief – Assets in EUR (000)
The Group in brief – Assets in EUR (000) 12/31/2017 09/30/2018 ∆ Non-current assets 239,549 258,887 +8% Property, plant and equipment 77,698 84,463 +9% Other financial assets 32,610 35,192 +8% Other intangible assets 103,217 110,171 +7% Others 26,024 29,061 + 12% Current assets 480,149 497,474 + 4%
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) 12/31/2017 09/30/2018 ∆ Equity 207,280 199,446 -4% Non-current liabilities and provisions 173,688 184,823 +6% Provisions for pensions 96,587 97,208 +1% Deferred tax liabilities 36,505 36,770 +1% Others 40,596 50,845 +25% Current
Slide 17: Shareholder’s structure as of November 2018
Shareholder’s structure as of November 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% 17 OHB AG
Slide 18: Analyst ratings
Analyst ratings 18 Date Institution Price target Recommendation November 2018 Bankhaus Lampe 50.00 EUR Buy November 2018 Commerzbank 30.00 EUR Hold August 2018 Equinet Bank 40.00 EUR Buy August 2018 DZ Bank 42.00 EUR Buy May 2018 HSBC Trinkaus & Burkhardt 34.00 EUR Hold 18 OHB AG
Slide 19: The stock at a glance
The stock at a glance 19 EUR 9M/2017 9M/2018 ∆ High, Xetra 40.89 49.75 +22% Low, Xetra 18.27 27.55 +51% Closing price, Xetra 40.89 33.30 -19% Average daily trading volumes (Xetra + floor) 15,348 17,726 +15% Market capitalisation, Xetra 714,270,445 581,687,596 -19% Number of shares 17,468,096 17,468,
Slide 20: Financial calendar 2018 / 2019
Financial calendar 2018 / 2019 • November 13, 2018 Nine-month report 2018, conference call • November 26-28, 2018 German Equity Forum/ FFM • February 12, 2019 Capital Market Day in Oberpfaffenhofen • March 20, 2019 Consolidated Financial Statements FY 2018 Annual press conference / Bremen Analyst co