Jenoptik (JEN) Investor presentation summary

Company overview and strategy

• Global photonics group with ~4,300 employees, €1.05bn revenue in 2025, and a market cap of ~€2.4bn as of August 2026.

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

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

• Streamlined organizational structure enhances customer focus and efficiency, with clear divisional responsibilities.

• Strong value proposition through leading photonics expertise and deep OEM customer relationships.

Financial performance and outlook

• H1 2026 revenue rose 1% to €503.2m, EBITDA up 25.5% to €98.9m, and EBITDA margin improved to 19.7%.

• Order intake surged 53% to €723.4m, with backlog up 34.6% to €824.8m; book-to-bill ratio at 1.44.

• Earnings per share increased 64.3% to €0.69; free cash flow before tax up 9.1% to €47.2m.

• Net debt/EBITDA improved to 1.4x; equity ratio at 58.4%.

• 2026 revenue and EBITDA margin now expected in the upper half of previous guidance ranges.

Divisional highlights

• Semiconductor & Advanced Manufacturing: Revenue up 10.2% in H1 2026, strong demand in lithography and inspection, EBITDA margin at 31.8%.

• Biophotonics: Revenue slightly down, but defense segment grew; EBITDA margin stable at 21.7%.

• Metrology & Production Solutions: Revenue declined due to automotive market challenges, negative EBITDA.

• Smart Mobility Solutions: Revenue up 10.7%, EBITDA margin improved to 13.7%, driven by new orders in North America.