Jenoptik Ag · XETR:JEN
Jenoptik — Investor Presentation (March 2026)
53 slides from Jenoptik's investor presentation, March 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 March/April 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 Fiscal year 2025 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 ~4,500 Employees worldwide Photonics ~1.43bn1 Market capitalization in euros Fiscal year 2025 Focus on four growth areas ~1.05
Slide 5: Addressing multiple mega-trends with our strong photonics expertise
Addressing multiple mega-trends with our strong photonics expertise We enable the digital age We ensure superb quality in demanding production processes We enable the digital age We drive life science We make roads and cities and healthcare development safer Jenoptik Investor Relations Presentation
Slide 6: 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 7: Strong value proposition: Leading photonics expertise combined with 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 8: 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 new application areas and regions Utilization − Reorganization Operational excellence of photonic ▪ Allocation of production units growt
Slide 9: Streamlined organizational structure implemented to enhance customer focus and efficiency
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 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 EBITDA margin increased >5 percentage points − Operating leverage 1200 1150 21-22% 21,0% 1100 1050 19.9% 1000 18.4% 950 19.7% 19,0% 900 850 18.8%1 800 17,0% 750 ~590 1 700 mill
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 − New biophotonics production site in Berlin inaugurate
Slide 12: Robust key financial figures; net debt reflects recent acquisitions
Robust key financial figures; net debt reflects recent acquisitions Key financial ratios Net debt and net debt to EBITDA 1 Acquisition 3,0 700 Jenoptik Group FY/2025 FY/2024 BG Medical/ SwissOptic (end 2021) 2,5 600 Equity ratio in % 60.2 56.6 500 1.6x 2,0 400 1,5 Net debt in 317.4 395.5 300 million
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 – 2024 ~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; multiple drivers support growth
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 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 opened on time in Q1 2025
New state-of-the-art fab in Dresden opened on time in Q1 2025 − 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 rooms meet the highest r
Slide 22: Biophotonics
Developing new applications in the area of Medtech & Life Sciences Markets Biophotonics − Supplier to global Medtech & Life Science OEM manufacturers − Performance-critical, designed-in modules and sub-systems Main 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 fluorencence microscopy, − Illumination and ca
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 fiscal year 2025
Results fiscal year 2025
Slide 30: Profitable growth expected for 2026; difficult market environment influenced 2025
Profitable growth expected for 2026; difficult market environment influenced 2025 Good progress on strategic goals: − New organizational structure implemented – lean, accountable, transparent Semiconductor & − Opening of new micro-optics Fab in Dresden major milestone Advanced Manufacturing − Gained
Slide 31: Order intake below prior year, semi equipment demand stabilized in H2
Order intake below prior year, demand in semi equipment industry stabilized in H2 Order intake in MEUR In million euros 2025 2024 Change in % 1200 −3.4% 1,027.7 Semiconductor & Advanced Manufacturing 404.0 453.6 −10.9 992.8 Biophotonics 250.2 209.6 19.3 245.8 215.6 900 Q4 Metrology & Production Solu
Slide 32: Partly challenging market environment influenced revenue development
Partly challenging market environment influenced revenue development Revenue in MEUR In million euros 2025 2024 Change in % 1200 − 6.3% 1,115.8 Semiconductor & Advanced Manufacturing 434.4 491.8 −11.7 1,046.0 300.7 Biophotonics 245.4 222.2 10.4 292.8 900 Metrology & Production Solutions 206.7 222.2
Slide 33: 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 34: Lower revenue, product mix and cost measures impacted profitability
Lower revenue, product mix effects and expenses for cost reduction measures impacted profitability EBITDA in MEUR EBITDA million euros EBITDA margin in % 250 − 13.1% 2025 2024 2025 2024 221.5 61.0 Semiconductor & Advanced 200 192.5 Manufacturing 114.2 139.9 25.7 27.9 60.7 Biophotonics 52.2 29.5 21.1
Slide 35: Strict cost management could not fully compensate revenue decline
Strict cost management could not fully compensate revenue decline In million euros 2025 2024 Change in % − Gross margin influenced in particular by lower contribution of Semiconductor & Advanced Revenue 1,046.0 1,115.8 −6.3 Manufacturing Gross margin 32.1% 33.4% − Functional cost ratio amounted to 2
Slide 36: Financial position and balance sheet ratios significantly improved once again
Financial position and balance sheet ratios significantly improved once again In million euros 2025 2024 Change in % Cash flows from operating 223.9 193.0 16.1 activities before income taxes − Cash flows from operating activities: reduction (prior year increase) in working capital more than offset C
Slide 37: Return to profitable growth expected
Return to profitable growth expected Semiconductor & Advanced Manufacturing Targets 2026 − Revenue increase in single-digit percentage range (2025: 1,046.0m euros) Biophotonics − EBITDA margin between 19.0 and 21.0 percent (2025: 18.4%) − Investments slightly below prior year (2025: 77.4m euros) Met
Slide 38: Appendix
Appendix
Slide 39: 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 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: 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 42: The Executive Board
The Executive Board Jenoptik Investor Relations Presentation 42
Slide 43: The Supervisory Board (as of January 1, 2026)
The Supervisory Board (as of January 1, 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,
Slide 44: 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 45: 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 46: Strong R+D commitment enables new products; expansion of sales structures abroad
Strong R+D commitment enables fundamentally new products; continuing expansion of sales structures abroad R+D output Selling expenses Administrative expenses in million euros in percent in million euros in percent in million euros in percent 120 10.6 12,0 120 11.9 100 10 9.5 11.0 9.9 9.7 9.3 12 8.5
Slide 47: 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 48: 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 49: 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 50: Our new organizational structure starting January 2025
Our new organizational structure starting January 2025 Structure as at Semiconductor Metrology & Global Group 1.1. 2025 Smart Mobility Functions / & Advanced Biophotonics Production Solutions Prodomax Manufacturing Solutions HOMMEL Prodomax Structure until ETAMIC 31.12.2024 Smart Mobility Advanced P
Slide 51: Acquisitions and divestments over last years
Acquisitions and divestments over last years Non-organic growth initiatives (M&A) Key acquisition criteria Divestments Hillos VINCORION − Portfolio: Complementary technologies & Non-optical process metrology regional expansion Crystal growth business − Market position: strong technological basis, 20
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 0.40e Freefloat 0,4 0.25 0,0 2021 2022 2023 2024 2025 Major institutional shareholders (20.03.20
Slide 53: Dates and contact
Dates and contact 25.03.2026 Consolidated Financial Statements 2025 26.03.2026 Jefferies Conference, London 31.03.2026 Roadshow Frankfurt/Main 29.04.2026 Roadshow Paris 12.05.2026 Q1/2026 13.05.2026 UBS Conference, London Andreas Theisen Sabine Barnekow https://www.jenoptik.com Head of Investor Rela