OHB Technology AG: 9-month figures in line with forecasts
Increase in total revenues to over EUR 63 million
Earnings of EUR 0.22 per share
Free float widened to 33%
OHB Technology AG is continuing to successfully buck the trends afflicting the sector as a whole. The encouraging top and bottom-line growth continued in the third quarter of y2003. In the period under review, the OHB Technology Group generated total revenues of EUR 63.3 million in line with forecasts, an increase of 28% over the same period one year earlier (EUR 49.4 million). Earnings per share came to EUR 0.22 (EUR 0.09).
With the pace of the Group’s growth unabated, full-year total revenues will exceed EUR 100 million in 2003 as planned. while earnings per share will easily beat the previous year’s figure of EUR 0.23.
The appeal of the stock has been boosted with the increase in free float to around 33%.
Order books were valued at EUR 227.8 million on September 30, 2003, with cash and cash equivalents coming to EUR 36.2 million at the end of the quarter.
Once again, the Space Technology + Security business unit was the OHB Group’s business mainstay in the period under review. The SAR-Lupe project is still on schedule and in budget. The development phase for Germany’s first satellite-based reconnaissance system is now virtually completed, while initial testing has already been completed successfully. Plans to integrate the German SAR-Lupe and the French Helios II system in a European reconnaissance system have made further headway now that two new contracts have been awarded. Thus, OHB has been assigned by Germany (BWB) and France (DGA) with the task of defining the adjustments required for the satellite ground segments.
The Telematics business unit failed to live up to expectations during the period under review, suffering as it did from muted spending in the wake of recent events surrounding the introduction of the German road toll system. However, with its extensive range of products, the OHB Group’s Telematics business unit stands to benefit once the current period of restraint is overcome. The Italian OHB subsidiary Telematics Solutions was awarded an order for the implementation of a CCTV monitoring system at Florence airport. OHB Teledata GmbH has already commenced deliveries of a consignment tracking system for the GEFCO organization.
The full 9-month report is available at www.ohb-technology.de.
ISIN: DE0005936124; WKN: 593612; Prime Standard