News › JENOPTIK AG • Strong reve­nue and ear­nings growth in fis­cal year 2023

Jen­op­tik achie­ves strong reve­nue and ear­nings growth in fis­cal year 2023

  • Strong orga­nic growth; reve­nue up around 9 per­cent to approx. 1.07 bil­lion euros
  • EBITDA grew again over­pro­por­tio­na­tely to approx. 210 mil­lion euros; EBITDA mar­gin at around 19.7 percent
  • Order intake remains at high level
  • Fur­ther pro­fi­ta­ble growth expec­ted for 2024

“Despite an incre­asingly chal­len­ging eco­no­mic envi­ron­ment, 2023 was a very suc­cessful year for Jen­op­tik. We achie­ved our reve­nue goals and ear­nings tar­gets which we had increased in the course of the year. The expan­sion of our pro­duc­tion capa­ci­ties is pro­cee­ding as plan­ned and we signi­fi­cantly redu­ced our leverage ratio. Jen­op­tik has strong growth plat­forms in its three core mar­kets: Semi­con­duc­tor & Elec­tro­nics, Life Sci­ence & Medi­cal Tech­no­logy, and Smart Mobi­lity. Accor­din­gly, we expect to con­ti­nue gro­wing pro­fi­ta­bly in the cur­rent fis­cal year and are on track to achieve our goals for 2025,” says Ste­fan Trae­ger, Pre­si­dent & CEO of JENOPTIK AG.

Signi­fi­cant growth in reve­nue and earnings

The Jen­op­tik pho­to­nics group con­tin­ued on its course of pro­fi­ta­ble growth in the past fis­cal year. Reve­nue, based on preli­mi­nary figu­res, increased by around 9 per­cent to approx. 1.07 bil­lion euros (prior year: 0.98 bil­lion euros). The main growth dri­ver was the Advan­ced Pho­to­nic Solu­ti­ons divi­sion, par­ti­cu­larly due to strong demand from the semi­con­duc­tor equip­ment industry.

The Group’s EBITDA once again grew at a fas­ter rate than reve­nue, by about 14 per­cent to appro­xi­m­ately 210 mil­lion euros (prior year: 184.1 mil­lion euros). The cor­re­spon­ding EBITDA mar­gin increased to around 19.7 per­cent, com­pared to 18.8 per­cent in the prior year.

Key balance sheet and finan­cial ratios fur­ther improved

Jenoptik’s balance sheet and finan­cial posi­tion remain very strong. The equity ratio impro­ved to around 54 per­cent (31/12/2022: 50.4 per­cent). The free cash flow before inte­rest and taxes increased from 82.7 mil­lion euros to appro­xi­m­ately 127 mil­lion euros, despite high capi­tal expen­dit­ure. In addi­tion to very good ope­ra­ting per­for­mance, the free cash flow bene­fi­ted from the sale of real estate assets within the Non-Pho­to­nic Port­fo­lio Com­pa­nies. The company’s leverage, i.e., net debt in rela­tion to EBITDA, was around 2.0 at the end of fis­cal year 2023 com­pared to 2.6 in the prior year. Jen­op­tik thus con­ti­nues to have very solid finan­cial and balance sheet ratios.

Demand remained at good level

As expec­ted, the Group’s order intake of appro­xi­m­ately 1.09 bil­lion euros in fis­cal year 2023 was around 8 per­cent below the very high prior-year figure of 1.19 bil­lion euros. The book-to-bill ratio was 1.02 (prior year: 1.21). Accor­din­gly, the over­all high order back­log increased slightly to around 745 mil­lion euros (31/12/2022: 733.7 mil­lion euros).

Fur­ther pro­fi­ta­ble growth expec­ted for 2024

Based on the high order back­log, and good ongo­ing deve­lo­p­ments in the core pho­to­nics busi­nesses, espe­ci­ally in the semi­con­duc­tor equip­ment sec­tor, the Exe­cu­tive Board of JENOPTIK AG is opti­mi­stic that it will achieve fur­ther pro­fi­ta­ble orga­nic growth in the fis­cal year 2024.

The final audi­ted figu­res for 2023 and the 2023 Annual Report will be published on March 27, 2024.

You will find fur­ther infor­ma­tion ›HERE‹