Three-month report 2003 OHB Technology
Q1 earnings of EUR 0.10 per share
Total revenues up five-fold year-on-year to EUR 17.4 million
Internationalization of SAR-Lupe making progress
Broad approval and strong echo at the annual general meeting
Bremen, May 14, 2003. OHB Technology AG boosted its total revenues considerably in the first quarter of 2003 compared with the year-ago period. As a result, it has confirmed its guidance for this year of revenues of over EUR 100 million in tandem with a substantial increase in pershare earnings over the previous year (EUR 0.23).
In the quarter under review, the OHB Technology Group’s total revenues came to EUR 17.39 million, with earnings per share equaling EUR 0.10. Business in the first quarter of 2003 was characterized by an above-average volume of capitalized development work.
Cash and cash equivalents stood at EUR 26.7 million at the end of the quarter, equivalent to EUR 1.79 per share. Order books were valued at EUR 253.7 million on March 31, 2003.
Work on a series of promising new projects has already been commenced or is about to get under way in both the Space Technology and the Telematics business units. Thus, the European Space Agency ESA recently named OHB-System as the main contractor for the production of a study on the new “SWARM” satellite system within the next nine months. Four small satellites will be responsible for recording ultraprecise measurements of the earth’s geomagnetic field and any changes in it.
With respect to the key SAR-Lupe project, the critical design review of the entire ground segment was recently completed successfully on schedule and to the customer’s complete satisfaction. Negotiations on inquiries received from allied countries concerning SAR-Lupe technology have also taken on form. In particular, the combined Franco-German SAR-Lupe/Helios II reconnaissance system is making headway. These activities testify to the strong potential going well beyond Germany.
OHB also expects to gain a substantial share in the planned European Galileo satellite navigation system.
The Telematics business unit is developing a platform specially tailored to meet the needs of disaster-protection and fire-fighting agencies. At the same time, work is proceeding on solutions for monitoring the transportation of cash and valuables on behalf of the EU. Product business with commercial vehicle makers and other OEMs is being extended.
The OHB Technology Group will remain on its growth course in fiscal 2003, with revenues and total sales set to grow by substantial double-digit rates. Looking ahead over the next three quarters, there will be virtually no change in fixed costs compared with the first three months of the year. Earnings per share will rise substantially over with the previous year.
The full three-month report can be downloaded at OHB Technology AG’s website at www.ohb-technology.de.
Held today, the annual general meeting in Bremen met with a very favorable response, reflecting the heightened interest of a wider audience in the Company. All the items on the agenda including the scheduled reelection of the members of the Supervisory Board were approved with large majorities in line with management’s recommendations.
ISIN: DE0005936124; WKN: 593612; Prime Standard