- Jenoptik increases sales and profits
Optics giant Jenoptik boosted profits in the second quarter thanks to increased demand in Europe, outperforming analyst expectations. "Demand improved in the second quarter after a slow start to the year," said CEO Stefan Traeger in a statement. The company expects demand to remain strong in the second half due to its strong position in core markets and a robust customer base. Jenoptik is maintaining its full-year targets.
In the three months to the end of June, Jenoptik's earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 3.5% year-on-year to €56.9 million, the company announced in Jena. Net income came in at €24.8 million, up from €20.9 million in the same period last year. Jenoptik's revenue climbed 5.1% to €284.7 million.
By 2024, Jenoptik's management, led by CEO Stefan Traeger, expects growth driven by strong business with the semiconductor industry. With the current order book, revenue is expected to increase by a mid-single-digit percentage. Around 19.5 to 20% of this is expected to be EBITDA margin, including an estimated 0.5 percentage point impact from the move to the new semiconductor site in Dresden. Last year, the margin stood at 19.7%.
The 'Quarterly number' that saw a significant improvement in Jenoptik's profits is the second quarter, as indicated by the increased EBITDA and net income. Moving forward, the company anticipates a continued strong performance in the 'Quarterly number' due to its solid position in core markets and a resilient customer base.
