Jenoptik Ag · XETR:JEN
Jenoptik — Investor Presentation (August 2026)
53 slides from Jenoptik's investor presentation, August 2026
Slide 1: Our Vision – Brighter Futures with the Power of Light
Our Vision – Brighter Futures with the Power of Light. Investor Relations Presentation I August/September 2026 © 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: Agenda
Agenda Company overview Divisional set-up Results H1/2026 and outlook Appendix Jenoptik Investor Relations Presentation 3
Slide 4: Jenoptik at a glance – a leading globally operating photonics group
Jenoptik at a glance – a leading globally operating photonics group 1991 Year of foundation Our Mission >80 Represented in countries The Leading Light In the Application of ~4,300 Employees worldwide Photonics ~2.4bn1 Market capitalization in euros Fiscal year 2025 Focus on four growth areas ~1.05 b
Slide 5: Clear focus on attractive markets
Clear focus on attractive markets Semiconductor & Advanced Metrology & Production Manufacturing Solutions Optics, Micro-optics Precision components 42% 20% OEM businesses OEM generate Solutions businesses ~2/3 of revenue businesses Biophotonics Smart Mobility Solutions 12% 23% 3% Based on FY 2025 da
Slide 6: Strong value proposition: leading photonics expertise and strong customer relationships
Strong value proposition: Leading photonics expertise combined with strong customer relationships Customer access / relationship Technology Industrial Joint R&D Shared R&D Designed-in Application Manufacturing manufacturing programmes roadmaps solutions excellence capacity know how Evolution Supplie
Slide 7: Delivering designed-in modules and components for performance-critical applications
Delivering designed-in modules and components for performance-critical applications to a strong OEM key account customer base Main products & applications Semiconductor & Advanced Manufacturing − Optical and micro-optical modules and subsystems for semiconductor equipment industry − Micro-optic base
Slide 8: Solution businesses address several end markets with high-precision measurement technologies
Solution businesses address several end markets with high-precision measurement technologies Main products & applications Metrology & Production − High-end testing solutions for electronics (e.g. smart phone Solutions cameras and AR/VR devices) and optics manufacturing − Testing equipment for global
Slide 9: Portfolio aligned to future markets of photonics; focus on organic growth
Portfolio has been aligned to future markets of photonics; focus on organic growth Priorities Initiatives − Increased customer focus Organic growth − Investment in additional capacities, new application areas and regions Utilization − Reorganization Operational excellence of photonic ▪ Allocation of
Slide 10: Robust track record of profitable growth
Robust track record of profitable growth 2014 – 2025 Main driver to margin expansion Revenue CAGR >5% − Product mix effects Upper half EBITDA margin increased >5 percentage points − Operating leverage of previous range 1200 ~1.05 (single-digit 1150 billion 21-22% growth) euros 21,0% 1100 1050 19.9%
Slide 11: Substantial investments to support organic growth
Substantial investments to support organic growth Significant investments into production capacities New Semi Fab in Dresden − Doubling production with new micro-optics cleanroom fab (LEED certified) in Dresden; production started in early 2025 − Continuous investment into production equipment − Fur
Slide 12: Robust key financial figures
Robust key financial figures Key financial ratios Net debt and net debt to EBITDA 1 Acquisition 3,5 700 Jenoptik Group H1/2026 FY 2025 BG Medical/ 3,0 600 SwissOptic (end 2021) 2,5 Equity ratio in % 58.4 60.2 500 1.4x 2,0 400 Net debt in 307.5 317.4 300 1,5 million euros 200 1,0 Net debt / 1.4x 1.6x
Slide 13: Capital allocation priorities focus on organic growth
Capital allocation priorities in current strategy period focus on organic growth Capital allocation New capital allocation priorities 2018 – 2025 ~10% 1 Investment into organic growth (Capex, R&D) ~1.2bn euros of 2 ~35% ~55% capital allocated Return to shareholders 2018 – 2025 M&A CAPEX Dividends 3
Slide 14: New sustainability targets 2030
New sustainability targets 2030 ESG-Area KPI 2025 Target 2025 Target 2030 Partnership Jenoptik‘s for the goals sustainability ratings Share of green 96.8% >90% 100% electricity Environment CO2 reduction 59.0% >55% 70% Diversity rate 31.0% 33% 33% 09/2025 AA Rating - Top 17 percent ranked in global E
Slide 15: Divisional set-up
Divisional set-up
Slide 16: Leaner organizational structure to increase customer focus and efficiency
Leaner organizational structure to increase customer focus and efficiency and more clearly assign responsibilities Semiconductor & Metrology & Smart Mobility Advanced Biophotonicss Production Solutions Manufacturing Solutions − Optical and micro- − Optical components for − Systems and service for −
Slide 17: Semiconductor & Advanced Manufacturing
Jenoptik is strongly rooted in main applications IC lithography and IC inspection Markets Semiconductor & Advanced Manufacturing − Supplier to global manufacturers of wafer fab equipment for optical lithography and inspection Main − Performance-critical, designed-in optical and micro-optical modules
Slide 18: Semiconductor market expectations remain robust
Semiconductor market expectations remain robust; Multiple drivers support mid-term equipment market growth Wafer Fab Equipment Market1 Main chip demand drivers: (billion USD) Digitalization (AI & cloud infrastructure, 5G connectivity, edge computing) Climate change & resource scarcity 180 (Electrifi
Slide 19: Chip manufacturing: photonics plays a critical role along the process
Chip manufacturing: photonics plays a critical role along the process Front-end Back-end Main photonics applications Wafer level Diffusion Deposition Lithography Etching Implant CMP Packaging packaging e.g. advanced / 3D- e.g. co-packaged packaging optics Inspection/Metrology Inspection/Metrology Us
Slide 20: Strong position in the global semi supply chain; revenues more than doubled since 2020
Jenoptik leverages its strong position in the global semi supply chain; revenues more than doubled since 2020 – CAGR (organic) >10% Key business features: Main demand drivers: ▪ Chip fabrication capacity expansion Close customer relationships with leading OEM‘s ▪ New technologies both front and back
Slide 21: New state-of-the-art fab in Dresden
New state-of-the-art fab in Dresden – significantly expanded microoptics capacity − Largest single investment in recent history (just under 100m euros) − Expanding production & research and development capacities for innovative micro-optics − Extremely demanding manufacturing environment (clean room
Slide 22: Biophotonics
Developing new applications in the area of Medtech & Life Sciences Markets Biophotonics − Supplier to global Medtech & Life Science OEM manufacturers Main − Performance-critical, designed-in modules and sub-systems characteristics − Key account approach / strong relationship to market leading custom
Slide 23: Biophotonics: main Medtech and Life Sciences applications and drivers
Biophotonics: main Medtech and Life Sciences applications and drivers Our products portfolio enables diagnostics and therapy, e.g. − imaging solutions for dentistry and (robotic) surgery − disk lasers for ophthalmology − readheads for DNA sequencing and fluorescence microscopy − illumination and cam
Slide 24: Biophotonics: optical defense portfolio & position
Biophotonics: optical defense portfolio & position Well established supplier of high-end optical defense products Our product portfolio supports defense and industrial applications by leveraging technological synergies, e.g. ‒ Laser rangefinders ‒ Thermal imaging (IR) cameras ‒ Light Emitting Diodes
Slide 25: Metrology & Production Solutions
Addressing highly specialized application with a broad portfolio for efficient quality control and production solutions Markets Metrology & Production Solutions − Supplier of high-end testing and production solutions incl. service Main − Main end-markets include automotive and electronics, as well a
Slide 26: Deploying strong technology basis to realize growth in new fields
Deploying strong technology basis to realize growth opportunities in new/emerging fields ELECTRONICS manufacturing OPTICS manufacturing AUTOMOTIVE manufacturing adjacent applications Quality inspection Visionline Opticline Mechanical Shaft parts testing measurement ImageMaster OptiCentric OptiSurf P
Slide 27: Smart Mobility Solutions
Addressing highly specialized application with a broad portfolio of quality control and production solutions Markets Smart Mobility Solutions − Provider of solutions for traffic law enforcement, civil security and road user charging Main − Offers equipment and software, including integration, instal
Slide 28: Smart Mobility Solutions Division: main demand drivers and applications
Smart Mobility Solutions Division: main demand drivers and applications Traffic Law Enforcement Civil Security Road User Charging − New applications such as distracted driving − Growing demand for integrated services − Political initiatives such as Vision Zero in additional countries − Overall avera
Slide 29: Results first half-year 2026
Results first half-year 2026
Slide 30: High order intake dynamics continue into second quarter
High order intake dynamics continue into second quarter Business development: − Exceptionally strong demand in the OEM business, both in the semiconductor Semiconductor & equipment and biophotonics sectors Advanced Manufacturing − Revenue slightly up year-on-year − EBITDA margin significantly improv
Slide 31: H1/2026 results at a glance
H1/2026 results at a glance In euros H1/2026 H1/2025 Change in % Revenue (million) 503.2 498.4 1.0 EBITDA (million) 98.9 78.8 25.5 EBITDA margin in % 19.7 15.8 n/a Fiscal year 2023: Earnings per share (euros) 0.69 0.42 64.3 Further profitable Free cash flow* (million) 47.2 43.2 9.1 growth expected N
Slide 32: High order intake dynamics continues into second quarter
High order intake dynamics continues into second quarter Business development: − Exceptionally strong demand in the OEM business, both in the semiconductor equipment Semiconductor & and biophotonics Advanced Manufacturing − Revenue slightly up year-on-year − EBITDA margin significantly improved − Fr
Slide 33: Continued high order intake momentum
Continued high order intake momentum, supported, among other things, by major orders Order intake in MEUR 53.0% In million euros H1/2026 H1/2025 Change in % 800 723.4 Semiconductor & Advanced Manufacturing 350.3 189.0 85.3 366.6 Biophotonics 163.9 113.1 44.9 600 Metrology & Production Solutions 111.
Slide 34: H1/2026: revenue slightly above prior year
H1/2026: revenue slightly above prior year Revenue in MEUR 600 1.0% In million euros H1/2026 H1/2025 Change in % Semiconductor & Advanced Manufacturing 230.4 209.1 10.2 498.4 503.2 Biophotonics 113.9 119.2 –4.5 254.8 262.0 Metrology & Production Solutions 79.7 92.0 –13.4 400 Q2 Smart Mobility Soluti
Slide 35: EBITDA margin increased to 19.7%
EBITDA margin increased to 19.7% compared to modest prior-year level of 15.8% EBITDA in MEUR 120 25.5% EBITDA in million euros EBITDA in % H1/2026 H1/2025 H1/2026 H1/2025 98.9 Semiconductor & Advanced 90 54.5 Manufacturing 74.5 47.9 31.8 22.2 78.8 Biophotonics 24.9 25.4 21.7 21.2 Q2 42.6 Metrology &
Slide 36: Earnings figures significantly improved year-on-year
Earnings figures significantly improved year-on-year In million euros H1/2026 H1/2025 Change in % Revenue 503.2 498.4 1.0 − Gross margin improved in particular by higher contribution of Semiconductor & Advanced Gross margin 36.1% 31.2% Manufacturing − Functional cost ratio amounted to 23.8% Function
Slide 37: Free cash flow influenced by increase in working capital
Free cash flow influenced by increase in working capital; financial position remains robust In million euros H1/2026 H1/2025 Change in % Cash flows from operating − Cash flows from operating activities impacted by 68.8 81.3 −15.3 activities before income taxes demand-driven increase (prior year: red
Slide 38: Revenue and EBITDA margin for 2026 now expected in upper half of guidance
Revenue and EBITDA margin for 2026 now expected in upper half of previous guidance ranges Semiconductor & Advanced Manufacturing Targets 2026 − Revenue increase in upper half of the previous guidance range (previously: Biophotonics single-digit percentage range / 2025: 1,046.0 million euros) − EBITD
Slide 39: Appendix
Appendix
Slide 40: Megatrends will drive growing demand for photonics solutions
Megatrends will drive growing demand for photonics solutions of the future Societal needs Jenoptik‘s contribution Growing demand for chips for various existing Jenoptik supplies high-performance optics, Digitization as well as new applications; increasing usage of micro-optics for semiconductor equi
Slide 41: Streamlined organizational structure implemented
Streamlined organizational structure implemented to enhance customer focus and efficiency Jenoptik has become more simple − Matrix structure largely removed in 2024 Stronger customer focus, more − Full allocation of plants to individual efficiency clearer responsibilities Strategic Business Units Se
Slide 42: Innovation remains our main growth engine
Innovation remains our main growth engine through our leading competencies in… − Harnessing light − Helping our customers to solve highly complex photonic problems − Design and industrialization of complex optics ©NASA/JPL-Caltech and photonics components − Decoding photonic signals in data imaging
Slide 43: A long tradition of innovation in optoelectronics
A long tradition of innovation in optoelectronics Vollbild anzeigen 19 20 21 22 23 1846 1946 1989-91 1992-98 1998-2006 2007-16 since 2017 Founded State German New Flexibility Consolidation Sustainable in Jena by property Reunification Businesses profitable growth Carl Zeiß The Zeiss plant in Acquisi
Slide 44: The Executive Board
The Executive Board Jenoptik Investor Relations Presentation 44
Slide 45: The Supervisory Board (as of June 10, 2026)
The Supervisory Board (as of June 10, 2026) Daniela Mattheus, Chairwoman of the Supervisory Board Jakob Habermann*, Deputy Chairman of the Supervisory Board Professional Supervisory Board member and management Trade union secretary of the IG Metall central district management, consultant, Berlin, Ge
Slide 46: Overview of quarters 2024 and 2025
Overview of quarters 2024 and 2025 In million euros Q1/2024 Q2/2024 Q3/2024 Q4/2024 2024 Q1/2025 Q2/2025 Q3/2025 Q4/2025 2025 Revenue 256.1 284.7 274.3 300.7 1,115.8 243.6 254.8 254.8 292.8 1,046.0 EBITDA 44.5 56.9 59.1 61.0 221.5 36.2 42.6 53.0 60.7 192.5 EBITDA margin in % 17.4 20.0 21.6 20.3 19.9
Slide 47: Revenue increase in the Americas
Revenue increase in the Americas Revenue by region 2025 Revenue by region in million euros 2024 Europe 5% 309.8 −7.1% (without 24% Germany) 333.4 17% 254.5 Germany −20.1% 318.3 253.7 Americas +4.1% 243.8 24% 175.7 30% Asia / Pacific −4.1% 183.2 Middle East / 52,3 Africa +40.8% 37.1 Middle East / Afr
Slide 48: Key figures – five-year overview
Key figures – five-year overview In million euros 2025 2024 2023 2022* 2021* Revenue 1,046.0 1,115.8 1,066.0 980.7 750.7 155.7 (incl. one-offs) EBITDA 192.5 221.5 209.6 184.1 125.2 (excl. one-offs) 20.7 (incl. one-offs) EBITDA margin (in %) 18.4 19.9 19.7 18.8 16.7 (excl. one-offs) EBIT 114.5 146.6
Slide 49: Key figures by segment 2025
Key figures by segment 2025 Semiconductor & Metrology & Advanced Production Smart Mobility in million euros Manufacturing Biophotonics Solutions Solutions Group2) Revenue1) 434.4 245.4 206.7 129.7 1,046.0 EBITDA 114.2 52.2 16.1 17.7 192.5 EBITDA margin in % 25.7 21.1 7.8 13.6 18.4 Order intake1) 404
Slide 50: Quarterly key figures by segment 2025
Quarterly key figures by segment 2025 Semiconductor & Advanced Manufacturing Biophotonics in million euros Q1 Q2 Q3 Q4 in million euros Q1 Q2 Q3 Q4 Revenue1) 100.9 108.2 105.8 119.5 Revenue1) 63.8 55.5 62.9 63.3 EBITDA 21.4 26.6 30.3 36.0 EBITDA 15.6 9.8 13.7 13.1 EBITDA margin in % 20.5 23.9 27.8 2
Slide 51: Quarterly key figures by segment 2025
Quarterly key figures by segment 2025 Metrology & Production Solutions Smart Mobility Solutions in million euros Q1 Q2 Q3 Q4 in million euros Q1 Q2 Q3 Q4 Revenue1) 40.6 51.4 47.0 67.7 Revenue1) 28.7 33.0 32.7 35.3 EBITDA –3.4 3.5 1.7 14.3 EBITDA 1.9 3.9 5.6 6.3 EBITDA margin in % –8.3 6.7 3.7 21.1 E
Slide 52: Shareholders and dividend information
Shareholders and dividend information Shareholder structure Thüringer Dividend Industriebeteiligungs EPS Dividend payment 11.0% GmbH & Co. KG 2,0 1.62 1,6 1.43 1.27 1.26 1,2 0.96 89.0% 0,8 0.30 0.35 0.38 0.40 Freefloat 0,4 0.25 0,0 2021 2022 2023 2024 2025 Major institutional shareholders (31.7.2026
Slide 53: Dates and contact
Dates and contact 12.08.2026 Result of first half-year 2026 01.09.2026 Coba ODDO Conference, Frankfurt/Main (IR) 02.09.2026 dbAccess Conference, London (IR) 8.-9.9.2026 Roadshow USA (CFO/IR) 16.9.2026 Roadshow Lugano / Milano (IR) 21.09.2026 Baader Conference, Munich (CEO/CFO/IR) 22.09.2026 Berenber