Jenoptik (JEN) Q1 2025 earnings summary

Executive summary

• Revenue declined 4.9% year-over-year to €243.6m, mainly due to weaker semiconductor sector demand.

• EBITDA fell 18.6% to €36.2m, with margin at 14.9% (prior year: 17.4%).

• Order intake dropped 15.5% to €204.6m; book-to-bill ratio at 0.84 (prior year: 0.94).

• Free cash flow improved 48.5% to €28.9m; equity ratio rose to 57.7%.

• Streamlined organizational structure implemented in 2024/2025 to enhance customer focus and efficiency.

Financial highlights

• Revenue for Q1 2025 was €243.6m, down 4.9% year-over-year; 72.7% of revenue generated abroad.

• EBIT dropped 35% to €16.9m; EBIT margin reduced to 6.9% (prior year: 10.2%).

• Earnings after tax decreased 40.4% to €9.2m; EPS at €0.16 (down 40.7%).

• Operating cash flow rose to €45.1m (prior year: €32.3m).

• Net debt reduced to €382.2m from €395.5m at year-end 2024.

Outlook and guidance

• Revenue for 2025 expected to be at prior-year level (+/-5%), with EBITDA margin between 18.0% and 21.0%.

• Capital expenditure for 2025 forecasted significantly below 2024's €114.6m.

• Upturn in semiconductor equipment industry anticipated in H2 2025, but risks from tariffs and global uncertainty remain.

• Outlook reflects high market uncertainties, including tariff discussions and geopolitical risks.