Ebitda improved by 47.1 percent in the first quarter to 20.0 million euros. Positive effects from the structural and portfolio measures taken in 2020 also contributed to this. In the previous year, Ebitda included costs of 3.7 million euros for structural and portfolio measures.

Light & Optics division benefits from high demand for semiconductors

In the first three months of the year, the Light & Optics division benefited from the dynamic development in the semiconductor equipment business and from rising sales in Biophotonics and Industrial Solutions. Trioptics also made a substantial contribution to sales. Sales climbed by 35.8 percent from 69.3 million euros to 94.2 million euros.

The division also posted a significant increase in Ebitda: operating profit climbed by 32.8 percent to 19.3 million euros, including PPA effects of minus 1.8 million euros. Demand picked up significantly in the first three months of 2021, with order intake rising 78.5 percent year-on-year to EUR 132.7 million. The order backlog reached a high level of EUR 219.0 million at the end of the quarter (December 31, 2020: EUR 179.1 million).

Automotive industry drives Light & Production division

In the Light & Production division, the effects of the Corona pandemic from the previous year were still noticeable, particularly due to the lower order backlog at the beginning of the year. At EUR 36.7 million, sales in the first three months were 5.8 percent below the previous year. While the Laser Processing business recorded slight growth, Industrial Metrology and Automation & Integration were still somewhat behind due to project postponements.

The restructuring and cost reduction measures implemented in the division in the 2020 financial year already contributed to the positive earnings development in the first quarter. Ebitda amounted to minus 0.2 million euros (previous year minus 4.1 million euros). The recovery in the division's order intake from 60.2 million euros to 64.4 million euros, driven by the automotive industry, was encouraging. It should be noted that the previous year's figure included a major order that was cancelled in the second quarter due to the pandemic. The order backlog climbed from 74.7 million euros as of December 31, 2020 to 99.7 million euros by the end of March.

Outlook for the full year 2021

Based on the good order intake development at the end of 2020 as well as in Q1 2021, a well-filled project pipeline, the promising development in the semiconductor equipment business and a revival of business in the automotive and biophotonics areas, the Executive Board expects further growth in the current fiscal year. In addition to organic growth in the divisions, Trioptics, which will be consolidated for the full year for the first time, will also contribute to the positive development. Jenoptik expects sales growth in the low double-digit percentage range in 2021, including Trioptics (prev. year 767.2 million euros). In terms of Ebitda, the Group currently anticipates a significant increase in the current fiscal year (prev. year 111.6 million euros). The Ebitda margin is expected to be between 16 and 17 percent (previous year: 14.6 percent).