Jenoptik (JEN) Investor presentation summary

Strategic direction and organizational structure

• Focus on four growth areas: semiconductor technology, medical technology, metrology, and smart mobility.

• Portfolio aligned to future photonics markets, emphasizing organic growth and operational excellence.

• Streamlined structure implemented in 2024, removing matrix organization and allocating plants to business units for greater efficiency and customer focus.

• Divisions include Semiconductor & Advanced Manufacturing, Biophotonics, Metrology & Production Solutions, and Smart Mobility Solutions.

• Strong customer relationships and joint R&D initiatives underpin value proposition.

Financial performance and outlook

• 2025 revenue at €1,046.0m, down 6.3% year-over-year; EBITDA margin at 18.4%.

• Free cash flow improved to €152.4m; net debt reduced to €317.4m with leverage at 1.6x.

• Order intake declined 3.4% to €992.8m, with backlog at €590.8m; over 80% expected to convert to revenue in 2026.

• 2026 targets: single-digit revenue growth, EBITDA margin between 19.0% and 21.0%, and investments slightly below 2025.

• Cost management intensified, but could not fully offset revenue decline; EBIT margin fell to 10.9%.

Segment performance

• Semiconductor & Advanced Manufacturing: revenue €434.4m (-11.7%), EBITDA margin 25.7%; impacted by lower lithography demand.

• Biophotonics: revenue €245.4m (+10.4%), EBITDA margin 21.1%; strong defense and medical technology performance.

• Metrology & Production Solutions: revenue €206.7m (-7.0%), EBITDA margin 7.8%; affected by automotive market weakness.

• Smart Mobility Solutions: revenue €129.7m (+8.5%), EBITDA margin 13.6%; growth driven by Americas and recurring service revenue.