Preliminary figures for 2025: Jenoptik performed well in a difficult market environment

• Order intake and revenue around 3 and 6 percent respectively below prior year
• Cost reduction measures successfully executed
• EBITDA margin at around 18.4 percent despite one-off expenses
• Further improvement in balance sheet and financial position

“Jenoptik performed well in a generally difficult market environment in 2025. Despite an approximately 6 percent decline in revenue, we were able to maintain our profitability at a good level with an EBITDA margin of around 18.4 percent due to cost-cutting measures and in spite of associated one-off expenses. We further significantly reduced our net debt,” commented Dr. Stefan Traeger, President & CEO of JENOPTIK AG.

Revenue down year-on-year due to a challenging market environment in some areas

Based on preliminary figures, the Jenoptik photonics group generated revenue of around 1.05 billion euros in the past fiscal year. As expected, group revenue was around 6 percent below the prior year’s figure of 1.12 billion euros, mainly due to weaker development in the semiconductor equipment and automotive markets.

The Group’s EBITDA reached around 192 million euros, compared to 221.5 million euros in the prior year. The EBITDA margin, including expenses related to cost reduction measures, was approximately 18.4 percent (prior year: 19.9 percent).

Key balance sheet and financial indicators significantly improved

Jenoptik’s balance sheet and financial position remained very strong. The equity ratio grew to around 60 percent (31/12/2024: 55.6 percent). Free cash flow before interest and taxes increased significantly to around 152 million euro (prior year: 102.9 million euro), particularly due to lower working capital requirements and planned reductions in capital expenditure. Leverage, i.e. net debt in relation to EBITDA, was at 1.6x at the end of fiscal year 2025, compared with 1.8x in the prior year.

Demand in the semiconductor equipment sector stabilizes

At just under 1.0 billion euros, the Group’s order intake in 2025 was around 3 percent below the prior year’s figure of 1.03 billion euros, mainly due to weaker demand from the semiconductor equipment and automotive sectors. The Strategic Business Unit Semiconductor & Advanced Manufacturing in particular had a weak start to 2025 due to fluctuations in the supply chain, but saw demand stabilize in the second half of the year. The Group’s book-to-bill ratio was 0.95 (prior year: 0.92). Accordingly, the order backlog decreased to approximately 590 million euros (31/12/2024: 670.1 million euros).

Outlook for 2026: Return to growth path

“In a market environment that continues to be characterized by macroeconomic and political developments that are difficult to predict and thus by considerable uncertainty, we are optimistic that we will return to growth in 2026 thanks to our strong growth platforms in the core markets of semiconductors, life science & medical technology, measurement technology and smart mobility. This is supported by improved demand at the beginning of this year,” comments Dr. Prisca Havranek-Kosicek, Chief Financial Officer of JENOPTIK AG.

With regard to the important semiconductor equipment industry, a fundamentally positive development is expected, based in part on the announced massive investments in data centers. The Executive Board expects Jenoptik to achieve both an increase in revenue and an improvement in EBITDA margin in the current fiscal year.

A quantitative guidance for the fiscal year 2026 will be presented as part of the publication of the final and audited figures for 2025 and the 2025 Annual Report on March 25, 2026.

This press release may contain statements relating to the future which are based on current assumptions and forecasts made by the corporate management of the Jenoptik Group. A variety of known and unknown risks, uncertainties, and other factors may cause the actual results, the financial situation, the development, or the performance of the company to diverge significantly from the information provided here. Such factors may include geopolitical conflicts, changes in currency exchange rates and interest rates, pandemics, the introduction of competing products, or a change in business strategy. The company does not assume any obligation to update such forward-looking statements in the light of future developments.

About Jenoptik

Jenoptik is a global technology group operating in the photonics market. Our growth areas primarily include semiconductor technology, medical technology, metrology as well as smart mobility. Almost 4,500 people worldwide work for the Jenoptik Group, which is headquartered in Jena (Germany). JENOPTIK AG is listed on the German Stock Exchange in Frankfurt and traded on the SDax and TecDax. In fiscal year 2025, Jenoptik generated revenue of around 1.05 billion euros according to preliminary figures.