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Preliminary results for fiscal year 2003

Jenoptik Group to meet projected sales figures for 2003 published in April. Photonics business division matches sales and earnings projections. Clean Systems business division operating income weighed down by the semiconductor crisis, investment reservations in Germany and one-off expenditures. The current recovery of the electronics industry promises to boost Jenoptik Group sales and earnings in 2004.

The Jenoptik technology group will complete fiscal year 2003 at just under 2 billion euros in sales (2002: 1.6bn euros). According to provisional calculations sales will come within the range predicted by Jenoptik in April 2003. Jenoptik will see in total a positive operating income for the year, but expects a net loss of more than 20 million euros in 2003.

The Photonics business division's operating income will meet well with company expectations. The Clean Systems business division will fall behind projected figures, due to the semiconductor crisis, delays in projects during the first half of 2003 (a total of 15 to 20 million euros in positive income items will therefore not enter accounts until 2004), a large number of classical industrial orders, which generally had a below-average effect on earnings and the restructuring measures introduced over the past fiscal year (10 million euros).

The Jenoptik Group net income will also be diminished by one-off expenditures of about 9m euros due to the capital measures carried out in autumn 2003. In total the net income was thus burdened by one-off expenditures of about 40m euros in fiscal year 2003.

Order intake reached a new record this past fiscal year, rising roughly 2.8 percent from 2002 (2.14bn euros) to approximately 2.2 billion euros. Order backlog also rose in the course of the year, reaching 2.48 billion euros (2.39bn euros), an increase of 3.8 percent. Order intake is also lively at the beginning of the year.

The Jenoptik Group expects 2004 sales to surpass those of 2003 due to its high order backlog and excellent order intake and the recovery of the electronics industry. The increase in sales will also affect operating income positively. The Clean Systems Technologies business division is particularly expected to return to its earlier solid income figures.