News › JENOPTIK AG · posts dyna­mic growth in fis­cal year 2022

• Reve­nue up by more than 30 per­cent to approx. 980 mil­lion euros; strong orga­nic growth of around 11 percent
• EBITDA grew to approx. 184 mil­lion euros; plus 47 per­cent on prior-year figure wit­hout one-off effect
• Order intake up by around a quar­ter year-on-year
• Gui­dance for 2023: fur­ther pro­fi­ta­ble growth expected

“In the chal­len­ging envi­ron­ment in fis­cal year 2022, Jen­op­tik per­for­med bet­ter than fore­cast at the begin­ning of the year. Both our exis­ting busi­ness and the acqui­si­tion made in late 2021 con­tri­bu­ted to this. Loo­king at our order intake and back­log, we expect fur­ther increa­ses in reve­nue and ear­nings in the fis­cal year 2023,” says Ste­fan Trae­ger, Pre­si­dent & CEO of JENOPTIK AG.

Reve­nue up by more than 30 per­cent – dou­ble-digit orga­nic growth

The Jen­op­tik pho­to­nics group con­tin­ued its pro­fi­ta­ble growth in the past fis­cal year. On the basis of preli­mi­nary figu­res, reve­nue from con­ti­nuing ope­ra­ti­ons grew by more than 30 per­cent to around 980 mil­lion euros (prior year: 750.7 mil­lion euros). Orga­nic growth was around 11 per­cent, pri­ma­rily due to sus­tained strong demand in the Advan­ced Pho­to­nic Solu­ti­ons divi­sion. The com­pa­nies acqui­red in 2021, BG Medi­cal and the Swiss­Op­tic Group, per­for­med bet­ter than expec­ted and con­tri­bu­ted around 160 mil­lion euros to revenue.

EBITDA mar­gin shar­ply up to around 18.8 percent

On a com­pa­ra­ble basis, EBITDA again impro­ved at a fas­ter rate than reve­nue to around 184 mil­lion euros (prior year: 125.2 mil­lion euros, exclu­ding one-off effect), due to an impro­ved pro­duct mix and eco­no­mies of scale. The cor­re­spon­ding EBITDA mar­gin grew to around 18.8 per­cent, com­pared to 16.7 per­cent in the prior year.

In fis­cal year 2022 EBIT from the con­ti­nuing ope­ra­ti­ons was impac­ted by a one-off expense of around 14 mil­lion euros. This non-cash impair­ment is attri­bu­ta­ble in par­ti­cu­lar to the reas­sess­ment of the busi­ness pro­s­pects of INTEROB. No fur­ther signi­fi­cant impact for future peri­ods is expec­ted in con­nec­tion with INTEROB.

Key balance sheet and finan­cial indi­ca­tors remain at a very solid level

Jen­op­tik con­ti­nues to enjoy a very good finan­cial and balance sheet posi­tion. The equity ratio impro­ved to around 50 per­cent (31/12/2021: 44.4 per­cent). Despite signi­fi­cantly hig­her capi­tal expen­dit­ure, the free cash flow before inte­rest and taxes from con­ti­nuing ope­ra­ti­ons increased from 43.2 mil­lion euros to around 83 mil­lion euros. The leverage, i.e., net debt rela­tive to EBITDA amoun­ted to 2.6.

Sus­tained strong demand – order intake well above 1 bil­lion euros

The posi­tive trend in demand con­tin­ued in the 4th quar­ter of 2022. Both orga­ni­cally and due to the acqui­si­tion, the order intake in the past fis­cal year grew by approx. 27 per­cent to around 1.185 mil­lion euros (prior year: 936.7 mil­lion euros). All divi­si­ons con­tri­bu­ted to this growth, pri­ma­rily the Advan­ced Pho­to­nic Solu­ti­ons divi­sion. The order back­log, worth some 734 mil­lion euros, was at a very high level (31/12/2021: 543.5 mil­lion euros).

Gui­dance for 2023: fur­ther pro­fi­ta­ble growth expected

Based on the good order intake, the high order back­log, and ongo­ing good deve­lo­p­ments in the core pho­to­nics busi­nesses, espe­ci­ally in the semi­con­duc­tor equip­ment sec­tor, the Exe­cu­tive Board of JENOPTIK AG is con­fi­dent to achieve fur­ther pro­fi­ta­ble growth in the fis­cal year 2023. Jen­op­tik is the­r­e­fore anti­ci­pa­ting reve­nue of 1,050 mil­lion euros to 1,100 mil­lion euros and an EBITDA mar­gin of 19.0 to 19.5 per­cent for 2023. This fore­cast pre­sup­po­ses that geo­po­li­ti­cal risks do not wor­sen. These include, for exam­ple, the Ukraine con­flict – with the sanc­tions that have been put in place and poten­tial impacts on price deve­lo­p­ments, energy sup­plies, and sup­ply chains.

The final, audi­ted figu­res for 2022 and the 2022 Annual Report will be published on March 29, 2023.