Germany · Delayed Price · Currency is EUR Jenoptik AG Earnings Call Transcripts
Fiscal Year 2026
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Record Q1 order intake driven by semiconductor and biophotonics, with revenue slightly down year-over-year but margins and profitability up. Management maintains single-digit growth guidance for 2026, citing strong backlog but cautioning that Q1's momentum is unlikely to persist.
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The conference highlighted a photonics-focused company with strong OEM relationships, recent portfolio refocusing, and a leaner organization. Despite a 6% revenue decline in 2025, margins remained robust, and 2026 guidance anticipates single-digit growth and improved profitability, driven by semiconductor and biophotonics momentum.
Fiscal Year 2025
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Revenue and EBITDA declined in 2025 amid semi lithography weakness, but Biophotonics and Smart Mobility grew. 2026 guidance anticipates single-digit revenue growth and 19%-21% EBITDA margin, with improved demand in semi and defense markets.
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Revenue and EBITDA declined year-over-year, but strong Q3 order intake and improved free cash flow point to future growth. Cost-saving measures and restructuring are underway, with 2025 results expected at the lower end of guidance and a more optimistic outlook for 2026.
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H1 2025 saw revenue and EBITDA decline year-over-year amid semiconductor weakness, but Q2 showed sequential improvement and strong cash conversion. Guidance was lowered to the bottom half of the previous range, with ongoing market volatility and tariff risks.
Fiscal Year 2024
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2024 saw robust organic revenue and earnings growth, with EBITDA margin near 20%, despite a 6% drop in order intake and ongoing market uncertainty. 2025 is expected to be a transition year with flat revenues and EBITDA margin guidance of 18–21%, as geopolitical and sector risks persist.
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Revenue and profit grew in line with expectations, with strong execution in APS and NPC segments. 2024 guidance is reaffirmed, but midterm targets are postponed to 2026 due to delayed semiconductor upturn and automotive market uncertainties. Leverage improved and investments in Dresden continue.
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Q2 2024 delivered strong sales and order intake growth, with robust performance in semiconductor equipment and NPC segments, while Smart Mobility and some industrial/medical areas lagged. Full-year guidance for mid-single digit sales growth and 19.5–20% EBITDA margin is confirmed, supported by a solid order backlog.