Strong demand drives Jenoptik's profit increase
Jenoptik AG, a German optics and photonics company, has reported a significant increase in profit for the first half of 2023, driven by strong demand across all business units.
The company's consolidated sales increased by 12.9% to 514.4 million euros ($539.2 million) compared to the same period last year, with all three segments contributing to the growth.
The Light & Optics segment, which includes products for the semiconductor industry, medical technology, and life sciences, saw sales increase by 15.2% to 231.3 million euros ($242.8 million). The Defense & Civil Systems segment, which includes products for security, defense, and traffic applications, reported a sales increase of 5.4% to 156.6 million euros ($163.9 million).
The Industrial Metrology segment, which includes products for dimensional metrology and quality control, saw sales increase by 14.4% to 126.5 million euros ($132.5 million). The company's adjusted earnings before interest and taxes (EBIT) increased by 26.8% to 63.2 million euros ($66.1 million), resulting in an adjusted EBIT margin of 12.3%.
Jenoptik CEO Dr. Stefan Traeger said: "We are very pleased with the strong demand we are seeing across all our business units. This is a testament to the quality of our products and solutions and the strength of our customer relationships. We are confident that we can continue to grow profitably in the second half of the year and beyond."
The company raised its full-year guidance for 2023, expecting consolidated sales to be in the range of 1.035 billion euros ($1.08 billion) to 1.075 billion euros ($1.12 billion), an increase of 7% to 11% compared to 2022. The adjusted EBIT margin is expected to be in the range of 11.5% to 12.5%.
Jenoptik's strong performance in the first half of 2023 is a reflection of the increasing demand for optics and photonics technology in various industries. The company's focus on innovation and customer-centricity has enabled it to capture market share and drive profitable growth.
