Jenoptik remained on path for growth in 2019
- Based on preliminary figures, group revenue grew to around 855 million euros in 2019 (up 2.5 percent)
- EBITDA was up more than 5 percent to around 134 million euros
- Good order intake development in Q4; for the full year order intake totaled 813 million euros
- Outlook: Jenoptik is expecting further growth in 2020
Despite difficult economic conditions, Jenoptik continued to grow in 2019. According to provisional calculations, group revenue grew 2.5 percent to around 855 million euros in the past fiscal year (prior year: 834.6 million euros). The solid performance was mainly driven by strong demand from the semiconductor equipment industry and the acquisitions completed in 2018. On a regional level, the Americas saw the strongest growth.
EBITDA increased at a faster rate than revenue, by more than 5 percent to approximately 134 million euros (prior year: 127.5 million euros), equating to an EBITDA margin of 15.7 percent (prior year: 15.3 percent).
“In spite of the overall economic slowdown, demand in key parts of our business improved as expected in the second half of 2019 compared with the two prior quarters. As a result, and including the export license for VINCORION granted at the beginning of October, we were able to meet our targets and actually increase the profitability of the Jenoptik Group more strongly than expected. This, in no small part, is reflecting the outstanding work our employees do,” said Jenoptik President & CEO Dr. Stefan Traeger.
Good order intake development in fourth quarter
Due to major projects in the defense and traffic safety businesses in the fourth quarter the company achieved a sharp rise in order intake compared to the prior quarters of 2019. For the full year, the Group received orders worth around 813 million euros. The decline of around 7 percent was primarily due to a large order in the semiconductor equipment business booked at the end of 2018, and a softening in the automotive sector.
“The past fiscal year was once again the best in the company’s history in terms of revenue and EBITDA, despite difficult economic conditions. With an EBITDA margin of around 15.7 percent we exceeded our expectations slightly – in particular due to a strong final quarter,” said CFO Hans-Dieter Schumacher.
“We are on the right track with our strategy, i.e. a stronger focus on the photonics markets, the initiatives launched for more innovation, and a greater international presence, to achieve lasting profitable growth for the Group,” added Dr. Stefan Traeger.
Growth is to continue in 2020
In view of the order intake development in the fourth quarter, and an ongoing positive development in the semiconductor equipment business, the JENOPTIK AG Executive Board anticipates further growth in the present fiscal year.
The final figures and the 2019 Annual Report will be published on March 25, 2020.
This announcement can contain forward-looking statements that are based on current expectations and certain assumptions of the management of the Jenoptik Group. A variety of known and unknown risks, uncertainties and other factors can cause the actual results, the financial situation, the development or the performance of the company to be materially different from the announced forward-looking statements. Such factors can be, among others, changes in currency exchange rates and interest rates, the introduction of competing products or the change of the business strategy. The company does not assume any obligation to update such forward-looking statements in the light of future developments.
Jenoptik is a globally operating technology group, which is active in three photonics-based divisions, Light & Optics, Light & Production, and Light & Safety, together with its mechatronics business managed under the VINCORION brand name. Optical technologies, systems, and solutions form the basis of our business. Our key markets primarily include the semiconductor equipment industry, the medical technology, automotive, mechanical engineering, traffic, aviation, and security and defense technology industries. JENOPTIK AG is listed on the Frankfurt Stock Exchange, the Jenoptik Group employs more than 4,000 people around the world.