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Sales and earnings of the “new Jenoptik“ show double figure growth in the 1st quarter 2006

Sales for the quarter of the continuing business divisions (former Photonics business division, holding company and real estate) increased to 109.0 million euros (prev. year 90.4m euros).

The result from operating activities was increased by the continuing business divisions by 66.5 percent to 8.9 million euros (prev. year 5.4m euros). Earnings after tax were up by 24.7 percent to 5.3 million euros (prev. year 4.2m euros). The order intake of the continuing business divisions, at 117.4 million euros, is down on the high level of the previous year (prev. year 140.8m euros with very long-term major order for more than 50 million euros). The order backlog as of March 31, 2006 was 444.7 million euros (prev. year 468.1m euros).

Net debt was 337.6 million euros (as of December 31, 2005: 375.5m euros), including the discontinued business divisions, 297.7million euros (as of December 31, 2005: 338.4m euros). The net debt will show a marked reduction on payment of the purchase price by Springwater Capital. Sales of the Jenoptik Group in 2006 – not taking into account the discontinued business divisions which is still included until the sale has been completed - are expected to come in at between 420 and 450 million euros, sales growth in 2006 is accordingly expected to be 6 to 11 percent. Following the successful start to the fiscal year there is the possibility that at approx. 10 percent organic growth in 2006 will come in at the upper end of the above-mentioned range. Acquisitions may also boost this increase in sales even higher. Up to the year 2007 the group will aim to increase sales by 10 percent per year. All three of the group’s divisions are expected to contribute towards the growth in sales. The result from operating activities is expected to total between 9 and 10 percent of sales. Operating earnings for 2006 should therefore be between 38 and 44 million euros before holding costs and following the very good start, here again are anticipated to be in the upper part of the forecast range.

 Figures in million euros  Q1/2006  Q1/2005
 Group sales  599.7  409.1
 Of which continuing business divisions  109.0  90.4
 Group result from operating activities (EBIT)  17.7  10.8
 Of which continuing business divisions  8.9  5.4
 Group earnings after tax  9.3  2.4
 Of which continuing business divisions  5.3  4.2

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