Galileo Prime OHB Forecasts Profit Jump

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PARIS — German rocket and satellite hardware manufacturer OHB AG on Feb. 15 reaffirmed its forecast that its 2013 revenue will increase by 13 percent over 2012, surpassing 700 million euros ($945 million), and that its pretax profit will grow by 20 percent, to more than 36 million euros.

Bremen-based OHB is prime contractor for the coming 22 Galileo positioning, navigation and timing satellites, which are scheduled for launch starting late this year or early in 2014.

OHB is building the satellites, with payload assistance from Surrey Satellite Technology Ltd. of Britain, under two contracts with the 27-nation European Union’s executive commission that together are valued at some 800 million euros.