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Results of the first half of 2003

JENOPTIK AG sales up 18 percent in first half of 2003. Strong rise in order intake and order backlog. Adjusted operating income virtually matches 1st half 2002 figures.

The Jenoptik Group achieved 665.3m euros in sales in the first half of 2003, up 18% from the first half of 2002 (564.0m euros). Order backlog was up 29.5% as of June 30, 2003, reaching a new record of 2.9bn euros (2.3bn euros). The Jenoptik Group order intake came to 1,190.2m euros in the first half, up 7.5% from the previous first half (1,106.7m euros).

The group's operating income came to minus 13.2m euros (+19.5m euros / -13.6m euros pro forma without income from sale of DEWB shares of more than 30m euros). The expected negative income results from the scheduling of payment deadlines towards the end of the year, as is usual for the facility engineering sector. The group income for the period came to minus 20.1m euros (+13.1m euros). When adjusted to exclude the sale of DEWB shares, both group operating income and income for the period virtually matched the figures of the first half of 2002.

Group sales are expected to rise in 2003, again exceeding 2 billion euros. The sales growth will be carried by the Clean Systems business division, for which between 1.75 and 1.9bn euros in sales is expected in 2003, with an EBIT margin of between 1.8 and 2.5%. Due to the difficult market environment in Asia, caused also by SARS, current Clean Systems projects in the region have been delayed by a period of two to three months, which means that they can probably not be billed this year. Therefore, the board expects to reach only the lower end of the projected Clean Systems sales range this year, and an EBIT margin rather slightly below the range. Photonics business division sales are expected to rise to between 280 and 300m euros with an EBIT margin of between 9 and 10%.

 in TEUR
H1 2003
H1 2002
Q2 2003
Q2 2002
 Sales  665,256  564,021  402,166  311,001
 EBIT  -13,224  19,528*  -4,790  23,812*
 Income for the period
 -20,069  13,108*  -7,290  20,742*

*incl. income from the sale of DEWB shares