DGAP-News: OHB AG / Key word(s): Final Results
OHB AG: Total revenues increase by 10% to EUR 773 million in 2014,
Operating income (EBITDA) increases by 1% to EUR 53.4 million,
operating earnings (EBIT) by 11% to EUR 40.4 million, Earnings per
share of EUR 1.48 (+32%, previous year: EUR 1.12)
19.03.2015 / 08:00
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- Total revenues increase by 10% to around EUR 773 million in 2014
- Operating income (EBITDA) increases by 1% to EUR 53.4 million,
operating earnings (EBIT) by 11% to EUR 40.4 million
- Earnings per share of EUR 1.48 (+32%, previous year: EUR 1.12)
- Proposed dividend again at 37 cents per share
(previous year: 37 cents
per share)
- Order backlog 2014 stabilized at high level of EUR 2,106 million
(previous year: EUR 2,340 million)
Bremen, March 19, 2015. The Management Board of OHB AG (Prime Standard,
ISIN: DE0005936124) presented the audited 2014 consolidated financial
statements at today's annual accounts press conference in Bremen.
OHB Group again exceeded the record of the previous year in sales, total
revenues, EBITDA and EBIT in fiscal 2014. Sales increased to EUR 728.1
million (previous year: EUR 680.1 million). The total revenues of the OHB
Group rose by EUR 72.9 million to a total of EUR 773.0 million in the
reporting period.
OHB developed to a European Aerospace Group during the recent decades. OHB
went on its strategy of continuous and controlled growth in the financial
year 2014 by (re-)focusing and concentrating on its successful European
based aerospace activities. The deconsolidation of the aviation activities
of Aerotech Peissenberg (ATP) - after OHB got into a minority position by
not participating in a capital increase in May 2014 - as well as the merger
of the two Group-owned German aerospace companies OHB System, Bremen, and
Kayser-Threde, Munich, in September 2014 were two major steps on this way.
EBITDA increased by 1% to a total of EUR 53.4 million (previous year: EUR
52.8 million), with a 11% increase in earnings (EBIT) to EUR 40.4 million
in the reporting period (previous year: EUR 36.4 million). The EBITDA
turned out lower than expected due to effects in combination with the
de-consolidation of Aerotech Peissenberg (ATP) in May 2014. However, this
had positive effects on the EBIT, so did other operational yields from
selling a minority investment.
Consolidated net profit after minority interests rose to EUR 25.7 million
(previous year: EUR 19.4 million) on the basis of the improved EBIT and due
to positive tax effects. This resulted in earnings per share of EUR 1.48
(diluted and undiluted) in the 2014 financial year compared to EUR 1.12 in
the previous year.
Unconsolidated total revenues in the "Space System" business amounted to
EUR 564.0 million in 2014 (previous year: EUR 484.5 million). The EBIT of
this division before consolidation declined to 14.0 million meaning EUR
million 15.0 under the previous year value (EUR 29.0 million) due to lower
profit contributions from satellite projects. The EBIT margin in relation
to unconsolidated total revenues therefore declined to 2.5% compared to
6.0% in the previous year.
Unconsolidated total revenues of the "Aerospace + Industrial Products"
business unit at EUR 213.5 million in the 2014 financial year undercut the
previous year by EUR 9.5 million or 4%. EBIT for the business unit
increased significantly to EUR 19.4 million (previous year: EUR 7.3
million) mainly due to improved profit contributions from MT Aerospace AG.
This resulted in an increased EBIT margin of 9.1% (previous year: 3.3%).
The Management Board and Supervisory Board will propose again a dividend of
37 cents per share for the 2014 year (previous year: 37 cents per share) to
the annual general meeting. The company also plans to distribute a dividend
for the current 2015 financial year. As of December 31, 2014 the liquidity
of the Group (including securities) was EUR 55.0 million (previous year:
EUR 58.9 million).
The order backlog stabilized at a high level of EUR 2,106.4 million in
total (previous year: EUR 2,340.4 million), the "Space Systems" business
unit accounts for the major part with an amount of EUR 1,797.7 of order
backlog while orders of the "Aerospace + Industrial Products" business unit
amounted to EUR 308.7 million on the balance sheet date. A high level of
planning reliability is assured for the future and high operational
capacity utilization is guaranteed in all business units.
OHB Group will continue its growth strategy in the current financial year
as well as the high operating capacity utilization in all parts of the
Group in the upcoming years. Based on the meanwhile continuously high order
backlog of EUR 2.1 billion the Board of Management expects an increase in
consolidated revenues to more than EUR 800 million in the financial year
2015. The operating earnings EBITDA and EBIT should reach more than EUR 53
million and more than EUR 40 million, respectively.
The full 2014 consolidated annual financial statements of OHB AG will be
discussed in detail at today's (March 19, 2015) annual accounts press
conference in Bremen and the subsequent analyst conference in Frankfurt /
Main.
Annual accounts press conference at 8:30 am on March 19, 2015
at the premises of OHB AG in Bremen
Analyst conference (DVFA) at 2:00 pm on March 19, 2015
at the premises of DZ Bank AG, Frankfurt / Main
Overview of key +/-
indicators (EUR thousand) 2010 2011 2012 2013 2014 2014/13
Sales 425,448 555,689 615,982 680,121 728,147 7.1%
Total revenues 453,323 555,292 632,729 700,063 772,954 10.4%
EBITDA 33,688 43,101 46,126 52,803 53,416 1.2%
EBIT 22,730 27,276 31,013 36,353 40,400 11.1%
EBT 15,384 19,517 23,995 29,728 33,874 13.9%
Net income
for the period
after minority interests 9,642 13,523 14,826 19,436 25,713 32.3%
EPS in EUR 0.55 0.78 0.85 1.12 1.48 32.1%
Dividend per share *) 0.30 0.35 0.37 0.37 0.37 -
Cash and cash equivalents
including securities 92,798 99,778 95,415 58,911 54,989 -6.7%
*) 2014: Proposal for the annual general meeting
Contact:
Investor Relations
Martina Lilienthal
Tel.: +49 421 - 2020-720
Fax: +49 421 - 2020-613
E-Mail: martina.lilienthal@ohb.de
Corporate Communications
Martin Stade
Tel.: +49 421 - 2020-620
Fax: +49 421 - 2020-9898
E-Mail: martin.stade@ohb.de
FTP: ftp.ohb-system.de
File: OHB_BPK (footage and pictures)
Pass: Fxaez5ad
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19.03.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
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Language: English
Company: OHB AG
Karl-Ferdinand-Braun-Str. 8
28359 Bremen
Germany
Phone: +49 (0)421 2020 8
Fax: +49 (0)421 2020 613
E-mail: ir@ohb.de
Internet: www.ohb.de
ISIN: DE0005936124
WKN: 593612
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News-Service
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334785 19.03.2015
DGAP-News: OHB AG: Total revenues increase by 10% to EUR 773 million in 2014, Operating income (EBITDA) increases by 1% to EUR 53.4 million, operating earnings (EBIT) by 11% to EUR 40.4 million, Earnings per share of EUR 1.48 (+32%, previous year: EUR 1.12)
| Source: EQS Group AG