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    JEN   DE000A2NB601

JENOPTIK AG

(JEN)
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Jenoptik : Quarterly Statement (January 1 - March 31, 2021)

05/11/2021 | 05:38am EST

Quarterly Statement of the Jenoptik Group

January to March 2021

Jenoptik Group

At a glance - Jenoptik Group

Jan. - Mar. 2021

Jan. - Mar. 2020

Change in %

Revenue (in million euros)

176.0

164.4

7.0

Light & Optics

94.2

69.3

35.8

Light & Production

36.7

38.9

- 5.8

Light & Safety

19.2

26.5

- 27.6

VINCORION

25.4

28.1

- 9.7

Other¹

0.5

1.5

EBITDA (in million euros)

20.0

13.6

47.1

Light & Optics

19.3

14.5

32.8

Light & Production

- 0.2

- 4.1

95.2

Light & Safety

0.2

4.9

- 96.4

VINCORION

3.1

1.0

215.9

Other¹

- 2.3

- 2.7

EBITDA margin

8.3%

11.4%

Light & Optics²

20.4%

20.8%

Light & Production²

- 0.5%

- 10.6%

Light & Safety²

0.9%

18.6%

VINCORION²

12.0%

3.4%

EBIT (in million euros)

6.1

2.5

142.7

EBIT margin

3.4%

1.5%

Earnings after tax (in million euros)

3.8

- 0.4

n/a

Earnings per share (in euros)

0.07

- 0.01

n/a

Free cash flow (in million euros)

14.4

9.2

15.7

Cash conversion rate

78.8%

106.0%

Order intake (in million euros)

268.3

211.7

26.8

Light & Optics

132.7

74.3

78.5

Light & Production

64.4

60.2

6.9

Light & Safety

41.2

22.3

85.3

VINCORION

28.8

53.4

- 46.1

Other¹

1.3

1.5

March 31, 2021

Dec. 31, 2020

March 31, 2020

Order backlog (in million euros)

561.3

460.1

522.5

Light & Optics

219.0

179.1

142.6

Light & Production

99.7

74.7

121.6

Light & Safety

69.4

46.0

63.5

VINCORION

172.4

160.3

194.9

Other¹

0.7

0.0

0.0

Frame contracts (in million euros)

46.9

42.3

50.3

Employees (head count and incl. trainees)

4,401

4,472

4,093

Light & Optics

1,872

1,845

1,380

Light & Production

1,040

1,108

995

Light & Safety

491

489

489

VINCORION

756

775

801

Other¹

287

323

315

  • Other includes Corporate Center (holding, shared services, real estate) and consolidation. ² Based on total revenue

Please note that there may be rounding differences in this report compared to the mathematically exact amounts (currency units, percentages).

OTTO Vision Technology GmbH (OTTO) has been part of the Light & Optics division since January 1, 2021. In the prior year the company was part of the Light & Production division. For this reason, the figures reported here for the comparative periods differ from the figures in the respective prior-year reports.

2

Quarterly Statement January to March 2021

Summary of Business Performance, January to March 2021

  • Strong order intake: In the first quarter of 2021, the Jenoptik Group's order intake increased to 268.3 mil-
    lion euros, a considerable improvement on the prior year (prior year: 211.7 million euros). The order back-
    log grew to 561.3 million euros (31/12/2020: 460.1 million euros). See Earnings Position - Page 8
  • Revenue up on prior year: In the first three months, revenue of 176.0 million euros was higher than in the
    prior-year period (prior year: 164.4 million euros), particularly due to the contribution made by the Light &
    Optics division.
    See Earnings Position - Page 6
  • Profitability improved noticeably: EBITDA grew to 20.0 million euros (prior year: 13.6 million euros), initial
    positive­ effects from the restructuring measures introduced contributed to this. The EBITDA margin increased to 11.4 percent (prior year: 8.3 percent).
    See Earnings Position - Page 7
  • Financial resources further boosted: Free cash flow improved to 15.7 million euros (prior year: 14.4 million euros). Debenture bonds were successfully placed. The balance sheet and financing structure remained very robust. Due to increased total assets, the equity ratio of 47.3 percent was below the figure of 51.5 percent at the end of 2020.
    See Financial and Asset Position - Page 10
  • Division highlights
    Light & Optics: Order intake sharply up on prior year at 132.7 million euros. Increase in revenue thanks to continuing good business performance with the semiconductor equipment industry; improvement in Biophotonics and Industrial Solutions areas, and TRIOPTICS' contribution. Profitability remained at high
    level;­ EBITDA margin of 20.4 percent (prior year: 20.8 percent); strong rise in free cash flow.
    Light & Production: Order intake up from high prior-year level. Restructuring measures contributed to
    improved­ profitability; revenue down, earnings up on prior year.
    Light & Safety: Order intake significantly up on prior year, resulting in appreciably higher order backlog. Revenue and earnings still considerably below prior-year level due to project-related business as well as
    delays­ in supply of electronic components due to the pandemic.
    VINCORION: Project postponements resulted in significant fall in order intake. Revenue down, in part due to developments in the aviation industry and the Power Systems area; earnings improved on prior year.
    See Segment Report - from Page 12 on
  • For the 2021 fiscal year, the Executive Board is expecting revenue growth in the low double-digit percen- tage range and an EBITDA margin of 16.0 - 17.0 percent (prior year: 14.6 percent).
    See Forecast Report - Page 17

3

Jenoptik Group

Business and Framework Conditions

Group Structure and Business Activity

Jenoptik is a global photonics group and a supplier of high-­ quality and innovative capital goods. The Group is thus primarily a technology partner to industrial companies. In the Light

  • Safety and VINCORION divisions, we are also a supplier to the public sector, in part indirectly through system integrators.

Jenoptik provides the majority of its products and services to the photonics market. Our key markets primarily include the semiconductor equipment industry, the medical technology, consumer and electronics manufacturing, automotive and ­mechanical engineering, traffic, aviation, and security and

defense­ technology industries.

The Jenoptik Group operates in the three following photonics divisions:

  • Light & Optics
  • Light & Production
  • Light & Safety.

In addition, its mechatronic activities are managed under the VINCORION brand.

All three build on extensive expertise in optics, sensors,

­imaging, robotics, data analysis, and human-machine inter­ faces.

This organizational structure enables a good market and customer-driven approach to doing business. Business operations have been combined according to a common understanding of markets and customers based on the same business models. This helps us to increase the reach of our products and solutions and opens up improved growth opportunities.

More information on the Group structure and business activity can be found in the 2020 Annual Report from page 78 on.

Purchases and sales of companies

There were no company acquisitions or disposals in the first three months of 2021.

4

Quarterly Statement January to March 2021

Targets and Strategies

A concentration­on photonic technologies for high-growth

markets­ is the core of our strategy and future development. Over the coming years, Jenoptik aims to push on with its

­development into a global, streamlined photonics company. Our main aim is to target markets where technological­ expertise justifies a price premium. Our solutions contribute to increased efficiency and precision of our customers' products and processes as well as to resource conservation and more sustainability. A concentration on optics and photonic technologies is at the heart of our "Strategy 2022," and we also focus on internationalization and innovation. By 2022, we want to increase our R+D output, including ­developments on behalf of

customers, to around 10 percent of revenue­ . Diversity and international mindedness will also mark out Jenoptik more strongly than ever before.

In order to implement the growth strategy, we

  • are focusing on our core areas of expertise in the field of photonics and optics,
  • are actively managing our portfolio with a view to addi­ tional purchases as well as transformational acquisitions and selective divestments,
  • are continuing to work on further internationalization in conjunction with greater vertical integration and customer proximity in our growth regions,
  • want to drive innovation even more strongly and be an innovation leader in our markets,
  • are ensuring greater sustainability and resource conser­ vation, as well as helping to achieve global sustainability targets with our photonic products and solutions,
  • are expanding our system and application expertise and
    developing­ into a solutions provider,
  • are continuing to steadily strengthen our financial resources, and
  • are promoting an active cultural change within the com- pany.

For more information on the strategic trajectory of the Jenoptik Group, we refer to the 2020 Annual Report and the details given in the "Targets and Strategies" chapter from page 84 on, as well as on the Jenoptik website.

5

Disclaimer

Jenoptik AG published this content on 11 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2021 09:37:06 UTC.


© Publicnow 2021
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