Galileo, Meteosat Boosted OHB’s Revenue for 2010
Satellite and rocket-hardware manufacturer OHB Technology on March 16 said revenue for 2010 increased by 41 percent, to 453.3 million euros ($598.3 million) and that 2011 revenue likely will increase by more than 30 percent to surpass 600 million euros.
Bremen, Germany-based OHB has booked large contracts with European governments including a 14-satellite order for Galileo positioning and navigation satellites and a large share of Europe’s next-generation geostationary-orbit meteorological satellites, called Meteosat Third Generation.
The 2010 revenue result was helped by the fact that OHB’s Italian subsidiary, Carlo Gavazzi Space S.p.A., was consolidated into the company’s accounts in late 2009, making 2010 its first full-year contribution to OHB’s results.
The company said pretax profit in 2010 was up 9.4 percent, to 22.7 million euros. EBITDA, or earnings before interest, taxes, depreciation and amortization, was about 7.4 percent of revenue.
OHB said the Meteosat Third Generation work should generate 322 million euros in revenue for OHB, which is the principal subcontractor toof France for the program.
Swelled by the Galileo and Meteosat work, OHB’s backlog stood at 1.16 billion euros as of Dec. 31, an increase of 39 percent since the end of 2009.