Jenoptik Ag · XETR:JEN
Jenoptik — H1 2021 Earnings Presentation
22 slides from Jenoptik's earnings presentation, Aug 11, 2021
Slide 1: JENOPTIK AG – 1st Half 2021 Results
JENOPTIK AG – 1st Half 2021 Results Dr. Stefan Traeger I Hans-Dieter Schumacher | August 11, 2021 © Copyright Jenoptik. All rights reserved.
Slide 2: Disclaimer
Disclaimer This presentation can contain forward-looking statements that are based on current expectations and certain assumptions of the management of the Jenoptik Group. A variety of known and unknown risks, uncertainties and other factors can cause the actual results, the financial situation, the
Slide 3: Highlights
Highlights
Slide 4: Highlights: Record figures for order intake, revenue, EBITDA in 2nd quarter 2021
Highlights: Record figures for order intake, revenue, EBITDA in 2nd quarter 2021 2nd quarter 2021 − Rising demand led to strong order intake of 240.0 million euros (plus 96.4% compared with prior year) − At 213.3 million euros revenue clearly exceeded prior-year level − Significantly improved profit
Slide 5: Highlights: Major steps for future growth
Highlights: Major steps for future growth Financial power boosted Further focusing Investment in further growth Debenture bonds of 400 million euros July: Sale of crystal growth business (revenue In May 2021, Jenoptik acquired a property with sustainability components successfully 2020 ~6m euros) to
Slide 6: TRIOPTICS – strong growth and high profitability expected in fiscal year 2021
TRIOPTICS – strong growth and high profitability expected in fiscal year 2021 − Gold standard for measuring and testing optics (for lenses, lens systems, and camera modules) in mobile devices − Measurement solutions for augmented and virtual reality optics to enable the production of ever higher qua
Slide 7: 1st half of 2021 Group
1st half of 2021 Group
Slide 8: In 1st half of 2021 order intake and backlog markedly exceeded prior-year
In 1st half of 2021 order intake and backlog markedly exceeded prior-year – setting the stage for further growth Order intake in million euros Order backlog in million euros 600 52.2% 600 27.4% 586.0 508.4 400 400 460.1 333.9 200 200 0 0 H1/2020 H1/2021 Dec 31, 2020 Jun 30, 2021 − Photonics division
Slide 9: Significant increase in revenue in both half-year and quarterly comparison
Significant increase in revenue in both half-year and quarterly comparison – organically and due to contribution by TRIOPTICS Revenue in million euros − Revenue in Q2/2021 reached record level for 400 18.3% a 2nd quarter, exceeding the prior-year figure by 29.6% 389.3 − Contribution of Light & Optic
Slide 10: Profitability significantly improved in 1st half of 2021 compared to prior year
Profitability significantly improved in 1st half of 2021 compared to prior year EBITDA in million euros EBIT in million euros 80 50 94.6% 197.1% 73.7 46.2 40 60 40.2 53.7 30 40 37.9 20 20 24.3 15.6 20.0 10 13.1 13.6 2.5 6.1 0 0 Q1/20 Q2/20 H1/20 Q1/21 Q2/21 H1/21 Q1/2020 Q2/20 H1/20 Q1/21 Q2/21 H1/2
Slide 11: Very good operating performance reflected in substantial improvement in earnings per share
Very good operating performance is also reflected in substantial improvement in earnings per share − Gross margin impacted by higher personnel and material In million euros H1/2021 H1/2020 costs as well as negative PPA Revenue 389.3 329.0 − Functional costs increased less than revenue ▪ R+D expenses
Slide 12: Jenoptik is well positioned for future growth with sound financial base and balance sheet
Jenoptik is well positioned for future growth with sound financial base and balance sheet structure − Debenture bonds totaling 400 million euros, payout of In million euros H1/2021 H1/2020 130 million euros in March − Working capital grew to 288.6 million euros (31.12.20: Earnings adjusted for non-c
Slide 13: 1st half of 2021 Divisions
1st half of 2021 Divisions
Slide 14: Light & Optics division: very positive operating performance led to record figures
Light & Optics division: very positive operating performance led to record figures − Revenue with semiconductor equipment industry remained at high level; Biophotonics and Industrial Solutions reported strong growth; TRIOPTICS contributed 41.0 million euros − EBITDA more than doubled due to very goo
Slide 15: Light & Production division: revenue growth and improved profitability
Light & Production division: revenue growth and improved profitability − Revenue: noticeable recovery in the automotive industry; rise at Laser Processing and Industrial Metrology; Automation & Integration at prior-year level (project postponements) − Profitability improved, in part due to first pos
Slide 16: Light & Safety division: major orders received in North America
Light & Safety division: major orders received in North America contribute to strong rise in order intake and backlog − Revenue marked by volatile project business; orders placed later than expected, in addition COVID-19-related delays in delivery of electronic components − Revenue decline is also r
Slide 17: VINCORION: slight rise in revenue and improved profitability
VINCORION: slight rise in revenue and improved profitability; order backlog remained at high level − Revenue: increase in Energy & Drive business; decline in Power Systems and, due to Corona, in the business with the aviation industry; growth from 25.4 million euros in Q1 to 34.6 million euros in Q2
Slide 18: Outlook
Outlook
Slide 19: Fiscal year 2021: Guidance for 2021 substantially raised
Group: Guidance for 2021 substantially raised Significant guidance increase for full year 2021 in July was based on the very strong operative performance in Q2/2021, and in expectation of a strong 2 nd half. − Revenue between 880 and 900 million euros (before growth in the low double-digit percentag
Slide 20: Megatrends will drive demand for photonics solutions of the future
Megatrends will drive demand for photonics solutions of the future – Jenoptik well positioned with its broad and innovative portfolio and expertise - Digitization: growing demand for chips for various applications; increasing usage of augmented and virtual reality>> Jenoptik supplies high-performanc
Slide 21: Appendix
Appendix
Slide 22: Dates and contact
Dates and contact 11.08.2021 Interim report January – June 2021 02.09.2021 Commerzbank Corporate Conference (virtual) 03.09.2021 dbAccess European TMT Conference (virtual) 21.09.2021 Tenth German Corporate Conference (Berenberg – Goldman Sachs (virtual)) 10.11.2021 Interim statement January – Septem