Jenoptik : strengthens global photonics business with the acquisition of Berliner Glas Medical and SwissOptic

• Accelerated growth and stronger focus on photonics
• Expansion of global presence in attractive markets, predominantly the semiconductor equipment and medical technology industries
• Broadening of product and technology portfolio

JENOPTIK AG (FSE: JEN / ISIN: DE000A2NB601) is set to acquire from Berliner Glas GmbH, a wholly-owned subsidiary of ASML Holding N.V., a 100 percent stake in the following companies:

• BG Medical Applications GmbH ("Berliner Glas Medical"), a supplier of high-precision, custom optical components for the medical technology sector based in Berlin,
• SwissOptic AG, a specialist in the development and manufacture of optical components and assemblies, primarily for the medical technology, semiconductor, and metrology industries headquartered in Heerbrugg/Switzerland,
• Chinese company SwissOptic (Wuhan) Co., Ltd., based in Wuhan/China (together with SwissOptic AG, "SwissOptic").

"With this strategic acquisition we will strengthen our global and fast-growing photonics business by significantly expanding our already strong semiconductor equipment business, and, in particular, our highly attractive medical technology business," says Stefan Traeger, President & CEO of JENOPTIK AG.

In 2022, the acquired companies are expected to contribute approximately 130 million euros in revenue. The purchase price amounts to around 300 million euros. The contracting parties have agreed not to disclose the exact terms of the transaction.

Berliner Glas Medical and SwissOptic currently employ around 500 people worldwide. The management will continue to act in its current function for Berliner Glas Medical und SwissOptic under the umbrella of the Jenoptik Group.

Strengthening the Light & Optics division - in both the semiconductor and medical technology industries

In the medical technology sector, Jenoptik will acquire Berliner Glas Medical's complementary product portfolio in the fields of dentistry (intraoral scanners) and robotic surgery, while at the same time strengthening its ophthalmology and life sciences business through the activities of SwissOptic. The acquisition will enable Jenoptik to approximately double the size of its medical technology business in this attractive end market.

SwissOptic's semiconductor business will further complement Jenoptik's product portfolio, and will enable Jenoptik to offer existing and new customers an even wider range of solutions. Moreover, Jenoptik will deepen its existing, longstanding business relationship with ASML, one of the key players in the semiconductor industry, as a reliable supplier and strategic partner.

"We are pleased to have reached this agreement whereby Jenoptik will acquire the Medical Applications and SwissOptic business of Berliner Glas (part of ASML)," says Andreas Nitze, CEO of the Berliner Glas Group. "We are convinced that the combined businesses are well positioned to realize the potential we see for the business and will offer the best environment for its employees."

Expansion of global presence and production network with attractive sites in strategically important markets

The acquisition significantly expands Jenoptik's global production network, including modern clean room capacities. The production facilities are located in two leading photonics centers in Europe (Berlin & Heerbrugg) as well as in China (Wuhan).

By expanding the production network, Jenoptik will be able to better manage capacity utilization of the individual sites and thus realize additional growth potential. Furthermore, the site in Wuhan will not only provide better access to Asian customers, but will also enable the production of high-quality optical components for the global market.

Acceleration of future growth and increased profitability potential

The acquired companies are expected to contribute approximately 130 million euros in revenue. In the coming years, a revenue growth rate in the low double-digit percentage range with an attractive margin profile is expected.

Jenoptik has identified various areas of potential synergies, which are primarily expected in procurement, research and development, capacity utilization control, and the expansion of the SwissOptic site in Wuhan.

The acquisition will be financed with existing cash on hand and undrawn credit lines. Even after completion of the acquisition, Jenoptik will continue to have a very healthy balance sheet and a sound financial position.

The transaction will already have a positive effect on Jenoptik's business performance in 2022 (not including PPA effects).

The JENOPTIK AG Supervisory Board is supporting the acquisition and has already approved it. The transaction is still subject to the approval from the German Federal Cartel Office (Bundeskartellamt). Closing is expected for December 2021.

This announcement can contain forward-looking statements that are based on current expectations and certain assumptions of the management of the Jenoptik Group. A variety of known and unknown risks, uncertainties and other factors can cause the actual results, the financial situation, the development or the performance of the company to be materially different from the announced forward-looking statements. Such factors can be, among others, pandemic diseases, changes in currency exchange rates and interest rates, the introduction of competing products or the change of the business strategy. The company does not assume any obligation to update such forward-looking statements in the light of future developments.

About Jenoptik

Optical technologies are the very basis of our business: Jenoptik is a globally active technology group and is active in the three photonics-based divisions: Light & Optics, Light & Production and Light & Safety. Under the TRIOPTICS brand, Jenoptik also offers optical test and manufacturing systems for the quality control of lenses, objectives and camera modules. VINCORION is the brand for our mechatronic business. Our key target markets primarily include the semiconductor industry, medical technology, automotive and mechanical engineering, traffic, aviation as well as security and defense technology industries. Approximately 4,400 employees work for Jenoptik worldwide. The Group's headquarters are in Jena (Germany). JENOPTIK AG is listed on the German Stock Exchange in Frankfurt and is included in the SDax and TecDax. In the 2020 fiscal year, Jenoptik generated revenue of approx. 767 million euros.