Jenoptik benefits from rising demand
The recovery in demand in the three photonics divisions of Jenoptik - Light & Optics, Light & Production and Light & Safety - continued in the 3rd quarter of 2021. Sales in the first nine months increased by more than 20 percent compared to the previous year, and by almost 25 percent in the 3rd quarter.
Jenoptik's sales rose by 20.6 percent to 609.2 million euros in the first nine months of 2021. In the 3rd quarter, growth amounted to 24.9 percent. The second quarter of 2021 already went very well from the point of view of the optics group.
In the first nine months, the Light & Optics division benefited in particular from a high contribution from Trioptics, but also grew significantly overall. The Light & Production division was able to grow due to an increase in demand from the automotive industry, while sales at Light & Safety were below the previous year's level due to project-related factors, among other things, and remained almost stable at Vincorion.
In regional terms, Asia/Pacific and the Americas in particular recorded strong sales growth. As a result, their share of Group sales rose from 38.1 percent in the previous year to 44.8 percent in Q3 2021.
Operating profit more than doubled
Earnings rose even more significantly than sales growth in the first nine months of 2021: at EUR 80.5 million, operating profit (EBIT) more than doubled compared with the prior-year figure of EUR 32.7 million. EBIT includes PPA effects of minus 12.1 million euros as a result of the acquisitions made in previous years. Group earnings after taxes increased from 24.4 million euros to 66.2 million euros.
On the basis of the operating development in the first nine months of 2021 and the very good order figures, the Executive Board confirms the full-year forecast, which was increased in July: Jenoptik is still targeting sales of between 880 and 900 million euros and an EBITDA margin of between 19.0 and 19.5 percent for the 2021 fiscal year.
