JENA (dpa-AFX) - The technology group Jenoptik is making better progress than expected with its transformation into a pure photonics group and is raising its profitability target. "We are roughly in the middle of our medium-term agenda until 2025 and have significantly strengthened our position in our core business," said Group CEO Stefan Traeger on Friday on the occasion of the Capital Markets Day, according to a press release. The operating margin is set to reach 21 to 22 percent by 2025, compared to the Group's previous target of around 20 percent. The sales target remains unchanged at around 1.2 billion euros. Market expectations have so far been in line with the old targets.

By way of comparison, revenue in 2022 had risen by almost a third to EUR 981 million, with a margin of 18.8%. 2023 has also been positive for the Group so far. Good business, particularly in Asia and Europe, had recently given the Group a boost. At the beginning of November, the management raised its profitability target. The target for this year is a margin of 19.5 percent, with turnover set to climb to up to 1.1 billion euros./tav/jha/