News › Jen­op­tik • with out­stan­ding pro­fi­ta­bi­lity in 2020

  • Based on preli­mi­nary figu­res, 2020 group reve­nue rea­ched approx. 767 mil­lion euros
  • Adjus­ted EBITDA mar­gin of around 17.6 per­cent (before PPA) shar­ply up on forecast
  • Good order intake growth in fourth quar­ter of 2020
  • Strong free cash flow
  • Out­look: Jen­op­tik expec­ting fur­ther growth in 2021

Jen­op­tik achie­ved its fore­cast reve­nue figu­res and signi­fi­cantly excee­ded its pro­fi­ta­bi­lity tar­get. Accor­ding to the preli­mi­nary figu­res, group reve­nue in the past fis­cal year rea­ched around 767 mil­lion euros (prior year: adjus­ted 837.0 mil­lion euros), appro­xi­m­ately 28 mil­lion euros of which were con­tri­bu­ted by TRIOPTICS. Despite a chal­len­ging mar­ket envi­ron­ment, this solid per­for­mance was mainly dri­ven by sus­tained strong demand from the semi­con­duc­tor equip­ment indus­try and the acqui­si­tion of TRIOPTICS. In addi­tion, lar­gely sta­ble capi­tal spen­ding by public sec­tor cus­to­mers ensu­red good busi­ness per­for­mance in the Light & Safety division.

Adjus­ted EBITDA (incl. TRIOPTICS/excl. PPA of around 4.6 mil­lion euros) came to appro­xi­m­ately 135 mil­lion euros (prior year: adjus­ted 138.0 mil­lion euros), with a respec­tive EBITDA mar­gin of around 17.6 per­cent, com­pared to 16.5 per­cent in the prior year. In the 2020 fis­cal year, adjus­t­ments tota­ling around 19 mil­lion euros, based on preli­mi­nary figu­res, were made for struc­tu­ral and port­fo­lio mea­su­res. EBITDA of around 112 mil­lion euros was appro­xi­m­ately 16 per­cent down on the prior year (prior year: 134.0 mil­lion euros), equa­ting to an EBITDA mar­gin of around 14.6 per­cent (prior year: 15.7 percent).

“In a chal­len­ging macroe­co­no­mic envi­ron­ment, we not only met our tar­gets; we also signi­fi­cantly excee­ded them, in par­ti­cu­lar with regard to pro­fi­ta­bi­lity. Espe­ci­ally our pho­to­nics divi­si­ons Light & Optics and Light & Safety, as well as TRIOPTICS, which we acqui­red in 2020, con­tri­bu­ted to this suc­cess. Our stra­tegy of focu­sing more stron­gly on the pho­to­nics mar­kets, our initia­ti­ves for more inno­va­tion, and our incre­asing inter­na­tio­nal reach are all pay­ing off and prove that we are on track for sus­tainable and pro­fi­ta­ble growth,” said Pre­si­dent & CEO Dr. Ste­fan Traeger.

Good order intake deve­lo­p­ment in fourth quarter

In the fourth quar­ter, the com­pany saw a signi­fi­cant increase in order intake com­pared to the prior quar­ters of 2020, to appro­xi­m­ately 228 mil­lion euros, which was pri­ma­rily attri­bu­ta­ble to the posi­tive con­tri­bu­tion by TRIOPTICS but also to the good demand in the semi­con­duc­tor equip­ment mar­ket. In total, the Group recei­ved orders worth almost 740 mil­lion euros in the past fis­cal year (adjus­ted around 6.7 per­cent down on the prior year).

In 2020, Jen­op­tik suc­cee­ded in estab­li­shing a broa­der sys­tems offe­ring and win­ning both inter­na­tio­nal pro­jects and new cus­to­mers. Howe­ver, demand varied con­sider­a­bly by mar­ket and divi­sion as a result of the COVID-19 pan­de­mic. While the Light & Optics divi­sion increased its order intake, the other three divi­si­ons recei­ved fewer new orders than in the prior year, due both to the pan­de­mic and pro­ject-rela­ted business.

The order back­log is expec­ted to have rea­ched around 460 mil­lion euros, and was almost at the same good level as in the prior year (prior year: adjus­ted 464.7 mil­lion euros).

Strong free cash flow

Based on preli­mi­nary figu­res, the free cash flow came to around 62 mil­lion euros (prior year: 77.2 mil­lion euros). Adjus­ted for the cash impacts of struc­tu­ral and port­fo­lio mea­su­res, the adjus­ted free cash flow, at around 67 mil­lion euros, was lower than in the prior year (prior year: 79.3 mil­lion euros).

“Despite the chal­len­ging mar­ket envi­ron­ment, we not only suc­cee­ded in fur­ther impro­ving our pro­fi­ta­bi­lity; we also secu­red Jenoptik’s liqui­dity, thus crea­ting a good basis for fur­ther invest­ment in the company’s future growth,” said CFO Hans-Die­ter Schumacher.

Jen­op­tik expec­ting fur­ther growth in 2021

On the basis of encou­ra­ging order intake deve­lo­p­ment in the fourth quar­ter of 2020 and the order back­log on hand, a well-fil­led pro­ject pipe­line, and con­tin­ued pro­mi­sing deve­lo­p­ment of the semi­con­duc­tor equip­ment busi­ness, the JENOPTIK AG Exe­cu­tive Board takes a posi­tive view and expects fur­ther growth in the cur­rent fis­cal year. In addi­tion to orga­nic growth in the divi­si­ons, TRIOPTICS, which will be con­so­li­da­ted for the full year for the first time, will also make a signi­fi­cant con­tri­bu­tion to growth.

The final figu­res and the 2020 Annual Report will be published on March 25, 2021.

Jena, Febru­ary 10, 2021

About Jen­op­tik

Opti­cal tech­no­lo­gies are the very basis of our busi­ness: Jen­op­tik is a glo­bally active tech­no­logy group and is active in the three pho­to­nics-based divi­si­ons: Light & Optics, Light & Pro­duc­tion and Light & Safety. Under the TRIOPTICS brand, Jen­op­tik also offers opti­cal test and manu­fac­tu­ring sys­tems for the qua­lity con­trol of len­ses, objec­ti­ves and camera modu­les. VINCORION is the brand for our mecha­tro­nic busi­ness. Our key tar­get mar­kets pri­ma­rily include the semi­con­duc­tor indus­try, medi­cal tech­no­logy, auto­mo­tive and mecha­ni­cal engi­nee­ring, traf­fic, avia­tion as well as secu­rity and defense tech­no­logy indus­tries. Around 4,400 employees work for Jen­op­tik world­wide. The Group’s head­quar­ters are in Jena (Ger­many). JENOPTIK AG is lis­ted on the Ger­man Stock Exch­ange in Frank­furt and is included in the SDax and TecDax. In the 2019 fis­cal year, Jen­op­tik gene­ra­ted reve­nue of approx. 855 mil­lion euros.

Cont­act

Les­lie Iltgen
JENOPTIK AG
Com­mu­ni­ca­ti­ons & Inves­tor Relations
Phone: +49 3641 65–2255
E‑mail: moc.kitponej@negtli.eilsel

February 10th, 2021

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