Jenoptik off to a strong start in 2026; very high demand since the beginning of the year

• Strong order intake in the OEM business
• Revenue still slightly below the prior year; profitability improved
• Guidance for 2026 confirmed

“Jenoptik has had a strong start to 2026 in terms of operations. Since the beginning of the year, we have seen very dynamic demand in our OEM businesses, particularly from the semiconductor equipment industry. Even though this very high momentum is unlikely to continue at this pace, it provides us with a strong foundation for a successful fiscal year 2026,” comments Dr. Prisca Havranek-Kosicek, Chief Financial Officer of JENOPTIK AG.

“Nevertheless, we will continue to focus on our relevant medium-term growth potentials in our core markets of semiconductor technology, medical technology, metrology and smart mobility. In addition to AI-driven demand for semiconductors, this includes application areas such as optical data communication, defense and also AR/VR,” said Dr. Ralf Kuschnereit, member of the Executive Board of JENOPTIK AG.

Revenue still slightly below prior year – profitability significantly improved

The photonics group Jenoptik recorded revenue of 241.2 million euros in the first quarter of 2026, which was slightly below the prior year’s figure of 243.6 million euros.

The Strategic Business Unit (SBU) Semiconductor & Advanced Manufacturing recorded significantly higher revenue, primarily due to stronger business with customers in the inspection segment of the semiconductor equipment industry, as did the SBU Smart Mobility Solutions. Revenue of the SBU Biophotonics was below the prior year’s figure against the backdrop of a very strong comparative quarter which was influenced by the dental business. The SBU Metrology & Production Solutions also recorded revenue below the prior-year level in view of the still difficult market situation in the automotive industry.

Thanks to an improved product mix, the omission of one-off relocation costs relating to the new plant in Dresden, as well as cost-cutting measures implemented last year, the Group’s EBITDA rose significantly by 22.5 percent to 44.4 million euros in the first quarter (prior year: 36.2 million euros). The EBITDA margin came to 18.4 percent (prior year: 14.9 percent).

Group earnings after tax rose to 16.8 million euros (prior year: 9.2 million euros). Accordingly, earnings per share amounted to 0.29 euros (prior year: 0.16 euros).

Very strong order intake in the OEM business

The Group’s order intake reached a very high level of 356.9 million euros in the first quarter of 2026, 74.4 percent higher than the prior year’s figure of 204.6 million euros. This was primarily driven by strong demand in the SBU Semiconductor & Advanced Manufacturing, which benefited, among other things, from a major order. The SBU Biophotonics also recorded a significantly higher order intake, both in the medical technology & life science and defense sectors.

The Group’s book-to-bill ratio was 1.48 in the first quarter (prior year: 0.84). Accordingly, the order backlog increased to 719.2 million euros (31/12/2025: 590.8 million euros).

At 10.1 million euros, capital expenditure remained, as expected, significantly below the prior year’s figure of 14.4 million euros and was primarily attributable to technical equipment and machinery.

Free cash flow affected by build-up of inventory; financial and balance sheet quality remained very strong

In the first quarter, free cash flow before interest and taxes was primarily influenced by the build-up of working capital in response to significantly rising demand and, despite a planned reduction in capital expenditure, it came to 15.9 million euros which is well below the prior year’s figure of 28.9 million euros.

With an equity ratio of 60.4 percent (31/12/2025: 60.2 percent), net debt of 313.0 million euros (31/12/2025: 317.4 million euros) and a leverage ratio (net debt to EBITDA) of 1.6x (31/12/2025: 1.6x), Jenoptik maintains very sound financial and balance sheet ratios.

Forecast for fiscal year 2026 confirmed

The outlook for the current fiscal year remains affected by high market uncertainty due to macroeconomic and political developments that are difficult to predict.

For the Jenoptik Group, the Executive Board anticipates that, given the strong growth platforms in the core markets of semiconductor technology, medical technology, metrology and smart mobility, both an increase in revenue and an improvement in the EBITDA margin can be achieved in fiscal year 2026. With regard to the semiconductor equipment industry, which is important for Jenoptik, a positive development is expected, driven in part by the announced massive investments in data centers.

On this basis, the Executive Board continues to expect revenue growth in the single-digit percentage range for the current fiscal year 2026 (prior year: 1,046 million euros). It also anticipates that the EBITDA margin will be between 19.0 and 21.0 percent (prior year: 18.4 percent). Capital expenditure is expected to be slightly below the prior year’s level of 77.4 million euros in fiscal year 2026.

Portfolio changes are not taken into account in this forecast.

The presentation on the first quarter of 2026 and the Quarterly Statement for January through March 2026 are available on the Jenoptik website at Investors / Reports and Presentations.

Images are available for download in the Jenoptik image database at media.jenoptik.com.

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 core markets primarily include semiconductor technology, medical technology, metrology as well as smart mobility. Almost 4,500 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 2025, Jenoptik generated revenue of 1,046 million euros.