Results of the first nine months of 2004
Jenoptik Group posted an EBIT of 11.8 million euros in the 3rd quarter 2004. Strong growth in sales and results by both business divisions Photonics and Clean Systems. Forecasts for the full year 2004 reaffirmed.
The Group net income for the period on a quarterly basis, at 1.3 million euros, was also positive (prev. year minus 18.7m euros). The Group result for the first nine months of the fiscal year was negative as expected and came in at minus 18.0 million euros (prev. year minus 38.8m euros). The marked increase in the result for the period is a reflection of the improvement in the operating result. Income from the Infineon chip factory project in Dresden also had a positive impact. This project provided for the sale of the M+W Zander shares in SC300 GmbH & Co. KG which was realized in the 1st quarter 2004. In addition to the social plan costs the rise in interest expenses arising from the bond issued in the autumn 2003 also impacted negatively on the result.
The order intake in the first nine business months of 2004 reached 1,987.0 million euros, consequently exceeding the figure for the same period in the previous year by 34.5% (prev. year 1,477.1m euros). The Group's order backlog as at September 30 this year was 3,312.5 million euros, representing an increase of 13.5% (prev. year 2,919.5m euros).
The net debt of the Jenoptik Group increased as at September 30 this year to 202.7 million euros (Dec. 31,2003: 126.3m euros). The main reason for this increase is the minority investment of M+W Zander together with other system suppliers in the AMD "Fab 36" chip factory in Dresden as part of the major order which the Jenoptik subsidiary won in autumn 2003.
As a result of the successful first nine months of the fiscal year and the very good order situation the Jenoptik Group is keeping to the targets for the full year 2004 formulated in April this year. Group sales are expected to clearly exceed the 2 billion euro mark. The Group operating result is expected to be between 45 and 60 million euros. This assumes that all projects – particularly in the Clean Systems business division – will be completed and accounted for within deadlines. Both business divisions will make a contribution towards the increase in sales and results for 2004.
| (figures in thousand euros) Group
| Operating income (EBIT)
| Net income for the period
| Order intake
| Order backlog