OHB Says Soaring Sales Are Likely To Fly Higher
PARIS — Satellite and launch-vehicle hardware builder OHB Technology on Feb. 10 reported a 23 percent increase in revenue in 2009 compared with 2008 and said 2010 will see an even sharper increase as recent contracts are transformed into sales at the Bremen, Germany-based company.
The company’s recent contract wins for Europe’s Galileo satellites and components for Ariane 5 rockets helped increase backlog as of Feb. 1 to 1.3 billion euros ($1.8 billion), up 71 percent over a year earlier.
OHB said it is including in the backlog an order for 14 Galileo navigation and timing satellites, a contract valued at 566 million euros that was not signed until late January. Also figuring prominently in the new orders is an early 2009 contract with EADS Space Transportation for components for 35 heavy-lift Ariane 5 rockets.
For OHB’s MT Aerospace subsidiary, the Ariane 5 rocket order was valued at 370 million euros.
OHB said that for the 12 months ending Dec. 31, its revenue totaled 320 million euros, up 23 percent from the same period a year earlier. Pretax profit, at 20.5 million euros, was up 7 percent year over year.
OHB said that for 2010, revenue is likely to be around 430 million euros, which would be a 34 percent increase, with a pretax profit of 23 million euros.
The company’s year-end 2009 figures included contributions from Carlo Gavazzi Space of Italy, which OHB purchased late in the year.
OHB said the figures released Feb. 10 are preliminary. Final results will be presented March 18.