OHB (OHB) Q1 2025 earnings summary

Executive summary

• Q1 2025 saw strong growth in order intake, order backlog, and total revenues, driven by major contract wins, successful satellite launches, and expansion across all business segments.

• Strategic expansion included the establishment of OHB Space UK and reorganization of OHB Austria into the Space Systems division.

• The company is optimistic about future growth, supported by strong institutional demand and favorable political developments in Germany and Europe.

• Workforce expanded to 3,488 employees, supporting growth initiatives.

• Net profit attributable to shareholders was EUR 5.0 million, up from EUR 4.8 million in the prior year.

Financial highlights

• Q1 2025 total revenues were EUR 242.4 million, a 17% increase from Q1 2024.

• Adjusted EBITDA rose 10% to EUR 22.1 million; reported EBITDA was EUR 19.1 million, down 1% year-over-year.

• EBIT decreased 7% to EUR 9.5 million; EBIT margin at 3.9% versus 4.9% in Q1 2024.

• Free cash flow was negative at EUR -106.5 million, reflecting project-related working capital needs.

• Order backlog at March 31, 2025, reached EUR 2,314 million, up 34% year-over-year.

Outlook and guidance

• Full-year 2025 revenue guidance confirmed at EUR 1.2 billion, with targeted EBITDA margin of 9%.

• 2025–2027 guidance targets annual revenues of EUR 1.2–1.5 billion and EBIT margin to surpass 7%.

• Order intake projected to remain above EUR 2 billion annually, supporting sustainable growth.

• Positive business performance and high order backlog support a favorable outlook for financial position and net assets.

• Strong growth anticipated in Earth observation, satcom, navigation, and science segments.