Jenoptik achieves robust revenue and earnings growth in 2024

• Revenue increased by around 5 percent to approx. 1.12 billion euros
• EBITDA grew to approx. 222 million euros; EBITDA margin improved to around 19.9 percent
• Order intake nearly 6 percent below the prior year

“2024 was a successful year for Jenoptik with record revenue and earnings. Despite an increasingly difficult economic environment over the course of the year we achieved our revenue and earnings targets set at the beginning of the year, executed on the expansion of our production capacities as planned, and further reduced our net debt. Although the environment in our key markets is currently very challenging, the Group is well positioned. Jenoptik has established strong growth platforms in its core markets of semiconductor & electronics, life science & medical technology, metrology, and smart mobility, and thus very good medium-term growth prospects,” commented Stefan Traeger, President & CEO of JENOPTIK AG.

Robust revenue and earnings growth achieved in fiscal year 2024

The photonics group Jenoptik continued its profitable growth course in the past fiscal year. Revenue, based on preliminary figures, increased by around 5 percent to approximately 1.12 billion euros (prior year: 1.07 billion euros). All divisions contributed to this growth, particularly the Advanced Photonic Solutions division through strong revenue growth in the semiconductor equipment sector.

The Group’s EBITDA increased by around 6 percent to approximately 222 million euros (prior year: 209.6 million euros). The corresponding margin grew to around 19.9 percent compared to 19.7 percent in the prior year.

Financial and balance sheet position remained very robust

Jenoptik’s balance sheet and financial position remained very strong. The equity ratio improved to around 56 percent (31/12/2023: 54.2 percent). The free cash flow before interest and taxes was around 103 million euros (prior year: 127.3 million euros) due to high investments, particularly in connection with the new factory in Dresden. The prior year’s figure however was also influenced by the sale of real estate assets of the Non-Photonic Portfolio Companies. The leverage, i.e. net debt in relation to EBITDA, was around 1.8x at the end of the 2024, compared to 2.0x in the prior year.

Uncertain market environment weighed on demand

The Group’s order intake came in at around 1.03 billion euros, thus nearly 6 percent below the prior year’s value of 1.09 billion euros, mainly due to weak demand from the automotive sector. The book-to-bill ratio was 0.92 (prior year: 1.02). Accordingly, the order backlog decreased to around 670 million euros (31/12/2023: 745.0 million euros).

Outlook influenced by high economic and political uncertainties

According to the Executive Board of JENOPTIK AG, the general market environment is currently characterized by above-average uncertainty, which is likely to continue in the first half of 2025. With regard to the semiconductor equipment industry, being of special importance to Jenoptik, the company continues to expect an upturn in demand in the second half of 2025. A quantitative guidance for fiscal year 2025 will be presented as part of the publication of the final and audited figures for 2024 and the 2024 Annual Report on March 25, 2025. The financial targets for 2026 remain unchanged.

This press release may contain statements relating to the future which are based on current assumptions and forecasts made by the corporate management of the Jenoptik Group. A variety of known and unknown risks, uncertainties, and other factors may cause the actual results, the financial situation, the development, or the performance of the company to diverge significantly from the information provided here. Such factors may include geopolitical conflicts, changes in currency exchange rates and interest rates, pandemics, the introduction of competing products, or a change in business strategy. The company does not assume any obligation to update such forward-looking statements in the light of future developments.

About Jenoptik

Jenoptik is a global technology group operating in the photonics market. Our key markets primarily include semiconductor & electronics, life science & medical technology as well as smart mobility. Approximately 4,600 people worldwide work for the Jenoptik Group, which is headquartered in Jena (Germany). JENOPTIK AG is listed on the German Stock Exchange in Frankfurt and traded on the MDax and TecDax. In fiscal year 2024, based on preliminary figures, Jenoptik generated revenue of 1.12 billion euros.