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JENOPTIK AG: financial statement 1998: Jenoptik Group continues growth

Sales exceed three billion DM for the first time in 1998.

Report Meetings on April 21st, 1999:

  • 11.00 a.m. Annual News Conference in Jena.
  • 02.30 p.m. Conference Call for Analysts.
  1997* in DM mill.
1998 in DM mill.
Change 1998 to 1997
Earnings Before Interest and Tax (EBIT) Group
 58.2  106.3  + 82.6 %
 Clean Systems
 20.5  39.1  + 90.7 %
 Telecommunications  56.5  4.2  - 92.6 %
 Photonics  6.4  13.6  + 112.5 %
 Asset Management
 86.6  143.3  + 65.6 %
 Net Income (Group)
 59.9  43.3  - 27.7 %
 DVFA Earnings (Group)
 52.0  62.9  + 21.0 %
 Dividend per share
   DM 0.75
 Sales (Group)
 2,609  3,125  + 19.7 %
 Order Backlog (on 31.12.)
 2,190  2,153  - 1.7 %
 Employees (on 31.12.)
 6,749  8,540  + 26.5 %

* incl. ESW-Extel Systems Wedel from January 1, 1997

Sales exceed three billion DM for the first time in 1998.

In fiscal 1998, the Jenoptik technology group achieved sales exceeding DM three billion for the first time. Group sales rose by 19.7 percent to DM 3,125 million over the previous year (1997: DM 2,609 million). On December 31, 1998, the order backlog was with DM 2,153 million slightly below the previous year's high level (DM 2,190 million).

Earnings before interest and tax (EBIT) increase to DM 106.3 million.

The development of earnings of the Jenoptik Group showed a varied pattern. Earnings before interest and tax (EBIT) rose substantially by DM 48.1 million to DM 106.3 million (1997: DM 58.2 million).

Net income of the group with DM 43.3 million lower

Net income, however, which amounted to DM 43.3 million, was lower than in the previous year (DM 59.9 million). According to Jenoptik costs for the initial public offering of DM 18.5 million, costs for the program to increase productivity and reduce costs in the Telecommunications business division (DM 29.6 million) and an increased tax burden for profits of foreign subsidiaries had a negative effect on the net income. The financial results declined to minus DM 46 million in fiscal 1998. The main reason was a one-time dividend received from a subsidiary in 1997.

DVFA earnings is DM 1.50 per share.

On the other hand, DVFA earnings after tax rose by 21.0 percent to DM 62.9 million (1997: DM 52.0 million). DVFA earnings per share amount to DM 1.50. Unappropriated earnings of DM 61.5 million are also by 22.3 percent higher than in the previous year (DM 50.3 million).

Jenoptik will pay a dividend of DM 0.75 per share for the first time.

For the first time, Jenoptik Group's shareholders will be paid a dividend and thus have a share in the earnings of the Jenoptik Group. Executive board and supervisory board propose to the Annual General Meeting, which will take place in Erfurt on May 31, 1999, to pay a dividend of DM 0.75 per share for the 1998 fiscal year.

High order intake in the first quarter of the new year.

The current 1999 fiscal year started well according to the preliminary figures that are available to date. Especially the order intake in the first three months has been good.

Growth in sales and stable net income in 1999.

Jenoptik executive board expects a continuing growth in group sales and in general a stable net income in 1999. The board believes that the Clean Systems business division will show similarly sound results as in 1998 and Photonics is also expected to continue to show positive results. In the Telecommunications business division, results shall be improved substantially in the current business year and the costs will be further reduced. Asset Management is expected to be profitable again though the high level of 1998 won't be reached again.

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