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Jenoptik Group with best profit figures in its history in fiscal year 2000

While net income rose 160 percent in 2000, operationally 64 percent – earnings before interest and tax (EBIT) were up 50 percent.

  • The Jenoptik Group plans further expansion in 2001, raising profitability and increasing sales at least 25 percent.
  • Dividends for fiscal year 2000 to be raised to 0.70 euros. Stock dividends in planning.
The technology group, Jenoptik concluded fiscal year 2000 with the best annual profits in company history. Group net income rose 160 percent over the previous year to 86.6 million euros (1999: 33.3 million euros). Profits of 32.1 million euros from the sale of company stock was included in the 2000 net income. Corrected to exclude this sale, annual net income rose 64 percent. The EBIT also rose a considerable 50 percent over the previous year - well surpassing original expectations. Operating income came to 82.5 million euros (1999: 55.0 million euros).

Jenoptik Group sales increased 12.6 percent over the previous year to 1,572.3 million euros (1999: 1,395.9 million euros). Adjusted for comparison, sales rose 24 percent, since sales of companies and company segments by Jenoptik were consolidated in fiscal year 1999. Foreign sales made up 57.8 percent of total group sales (1999: 60.3 percent), with domestic sales at 42.2 percent (1999: 39.7 percent).

Order intake reaches a new record high.

After setting a new order intake record in fiscal year 1999, the Jenoptik Group recorded yet another new high in fiscal year 2000. Order intake rose 24.3 percent to 1,929.0 million euros (1999: 1,552.2 million euros). Adjusted for comparison, order intake was up 38.9 percent.

The positive group order situation is also reflected in the order backlog of 1,719.8 million euros up 45.9 percent from 1999 (1,179.0 million euros).

Equity ratio up again, net debt remains at zero.

Despite considerable growth, the Jenoptik Group equity ratio rose again, climbing to 44.2 percent (1999: 41.3 percent) In absolute figures, equity came to 462.1 million euros). The high cash flow was used to reduce short-term financial liabilities such as credits and loans. Short-term financial liabilities went down 54.4 million euros to 55.8 million euros (1999: 110.2 million euros).Furthermore, liquid assets including current-asset securities surpassed short- and long-term interest-bearing liabilities so that Jenoptik had 128.9 million euros in net cash at its disposal.

DVFA/SG earnings up considerably.

Earnings after taxes according to DVFA/SG rose again considerably in fiscal year 2000. The figure reached 29.6 million euros, 76.2 percent higher than in 1999 (16.9 million euros). The DVFA/SG earnings per share increased from 0.43 euros to 0.77 euros. DVFA/SG earnings was determined according to criteria including fictitious deferred taxes and goodwill depreciation.

Dividends to be raised – stock dividends to be issued.

Jenoptik Group was able to sustainably improve its profitability over the past fiscal year; and the Jenoptik shareholders should be able to profit from this trend. The Board of Directors and the Supervisory Board of JENOPTIK AG will therefore propose, at the general meeting in Erfurt on 22 May, that dividends in fiscal year 2000 be raised to 0.70 euros from 0.50 in 1999. On the occasion of the tenth anniversary of JENOPTIK AG, stock dividends will be issued at a ratio of 10 to 1. For every 10 Jenoptik shares, the shareholder will receive one bonus share.

Good growth outlook for 2001.

Due to a high order backlog and business developments in the first three months of 2001, Jenoptik expects further strong growth again this year. Sales should rise at least 25 percent – and not 20 percent as had been announced until now.

The Clean Systems business division with an increase in sales of approximately 40 percent, and the Photonics business division with a sales increase between 10 and 15 percent should both contribute to this growth trend. The Asset Management business division, through its venture capital company, DEWB, plans to introduce at least four further companies to the stock market. These quality companies will emanate from growth industries that promise to remain attractive in the long term.

Jenoptik seeks to increase its profitability in 2001. The annual net income is expected to rise over 30 percent in comparison with the past year's figures of 54.5 million euros which exclude of the sale of company stock, designated as an extraordinary item.