Strong Revenue and Earnings Growth

Jenoptik achieved strong organic growth in fiscal year 2023: Revenue grew 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. The main growth driver was the Advanced Photonic Solutions division.

»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.

Key balance sheet and financial ratios further improved

Jenoptik’s balance sheet and financial position remain 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.