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Strategy and targets

Sustainable profitable growth as an expert in Photonics

Photonics is a key technology for the 21st century and greatly contributes to increase the efficiency. Within this dynamic environment, we, as an expert in photonics, want to continue our profitable growth and gradually become a global player. We preferably target sectors serving the digital world, healthcare, mobility, safety and infrastructure trends.

Growth strategy „More Light“

Growth strategy „More Light“

In February 2018 the Executive Board of JENOPTIK AG presented its Strategy 2022. In future, Jenoptik will concentrate on its core competencies of light and optics. It is our goal to develop Jenoptik into a global and focused photonics company over the next five years.

In the future, our activities in the market for photonic technologies will focus on applications in the fields of information processing, intelligent production processes, sensors, metrology, and biophotonics.

The planned evolution will be accompanied by a far-reaching cultural change, which we see as the basis of future success and the attainment of our objectives.

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Our Strategy 2022 is based on three building blocks – “More Innovation”, “More International”, and “More Focus”.

To implement it,

Our Strategy: More Innovation
  • we invest more heavily in research and development, expand our application expertise, and develop into a solutions provider,
Our Strategy: More International
  • continue to work on further internationalization in conjunction with greater vertical integration and customer proximity,
Our Strategy: More Focus
  • focus on our core competencies in the field of photonics – light and optics
  • actively manage our portfolio which includes complementary acquisitions as well as disinvestments.

Our priorities for 2021

  • Strengthening innovation
  • Anchoring sustainability even more firmly within the Group

Forecast and targets

With the new organizational structure that came into force in January 2019, we have further improved our market and customer orientation. Business operations within our previous segments were reorganized, and the relevant parts of the operating business have been clustered according to a common understanding of markets and customers based on the same business models. This helps us to bring our products and solutions closer to the customer and opens up improved growth opportunities. The three newly created photonics divisions Light & Optics, Light & Production and Light & Safety build on extensive expertise in optics, sensors, imaging, robotics, data analysis, and human-machine interfaces. In 2018, Jenoptik introduced an independent brand for its mechatronics business from the former Defense & Civil Systems segment. Under the VINCORION brand, customers from the aviation and defense industries can now be addressed in a much more focused manner than before on the basis of mechatronic products and solutions.

Jenoptik sees particularly great potential for future growth in the regions of the Americas and Asia. For further internationalization, we are therefore focusing on these regions. We aim to further expand value creation such as local production, product developments, and research & development. We plan to establish local R+D teams as well as own production on site in all major markets by 2022. In addition, at least one division of the company should be headquartered outside Germany by 2022.

As an innovative high-technology company, identifying customer needs and general trends early on to determine appropriate technology and product developments is of critical importance to Jenoptik. Therefore, we want to increase our R+D investment, including customer-related projects, to a total of approximately 10 percent of revenue by 2022.

Financial targets

Outlook 2021

Based on good order intake growth in the fourth quarter of 2020, a well-filled project pipeline, and the continued promising development in the semiconductor equipment business, the Executive Board expects further growth in the current fiscal year. In addition to the organic growth in the divisions,TRIOPTICS, which will be consolidated for the full year for the first time, will also contribute to the positive development.

For 2021, Jenoptik is expecting revenue growth in the low double-digit percentage range, including TRIOPTICS (prior year: 767.2 million euros). The Group currently forecasts EBITDA (earnings before interest, taxes, depreciation, and amortization, including impairment losses and reversals) to increase significantly in the current fiscal year (prior year: 111.6 million euros). The EBITDA margin is due to reach between 16.0 and 17.0 percent (prior year: not adjusted 14.6 percent).

Due to the uncertainty generated by the Covid-19 lockdown at the beginning of the year and the risk of a third wave of the pandemic, a more precise forecast is not currently possible. However, we plan to specify the forecast during the course of the year.