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Jenoptik Report 1st Qtr Metrology Revenue Decline

The Jenoptik Group made a solid start in 2020. Over the first quarter, demand in many areas proved robust despite the corona crisis. The photonics company accordingly posted an increase in order intake of 3.6 percent to around 211.7 million euros. The adjusted order backlog grew by more than 12.4 percent to 522.5 million euros.

Over the first quarter of 2020, the corona pandemic had varying effects on Jenoptik’s revenue performance. The pandemic had little or no impact on business with public-sector customers and the semiconductor equipment industry, with both areas posting growth. The Light & Production division was strongly affected by developments in the automotive industry. The Jenoptik Group generated revenue of around 164.4 million euros representing a decline in the seasonally weakest quarter of the year of 7.8 percent.

“Large parts of our business showed a robust development in the first quarter. It is also encouraging to note that we are continuing to see stable demand in the semiconductor equipment sector that is of particular importance to us,” says Stefan Traeger, President & CEO of JENOPTIK AG.

On a regional level, all parts of the world posted declining revenues – with the sole exception of the Middle East/Africa. Asia/Pacific was affected most strongly, where impacts arising from the pandemic were already very clearly apparent in the first three months, especially in China (16.4 million euros compared to 23.0 million euros in the prior year).

Gross profit of 53.9 million euros was 17.8 percent down on the prior year..

Due to the developments in the automotive industry, the Light & Production division was strongly impacted by the corona crisis. Despite growth in the automation business and the contribution of 1.8 million euros made by the acquired entity INTEROB, revenue fell by 21.7 percent on the prior year, to 39.5 million euros in the first three months of 2020, due to significant declines in the Metrology and Laser Processing units. The division’s EBITDA, adjusted for non-recurring effects for efficiency measures, came to minus 3.5 million euros in the reporting period. Project postponements and the temporary closure of two Jenoptik plants in this division were primarily responsible for the decrease in EBITDA. The division’s order intake remained relatively stable at 61.2 million euros (prior year: 63.1 million euros).

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