Jenoptik Ag · XETR:JEN
Jenoptik — Investor Presentation (March 2021)
40 slides from Jenoptik's investor presentation, March 2021
Slide 1: Jenoptik – Experience the Era of Light
Jenoptik – Experience the Era of Light. Investor Relations Presentation I March 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: Photonics at Jenoptik
Photonics at Jenoptik
Slide 4: Photonics is the mastery of light!
Photonics is the mastery of light! The 21. century is the century of photonics. Photonics powers everything from fiber-optic data networks, to laser cutting, autonomous vehicles, disease diagnosis and many more. Photonics market estimated to reach ~850 bn USD growing at a CAGR of >7.0% by 2025 Sourc
Slide 5: We invent optics for the digital world
We invent optics for the digital world Optics, micro-optics and precision components for the semiconductor equipment industry (lithography and inspection) High-volume optical transceivers to connect to remote locations Sensor technology 5
Slide 6: We ensure superb quality in optics manufacturing
We ensure superb quality in optics manufacturing Gold standard for measuring and testing mobile devices Driving higher capabilities for zoom, wide angle and macro Designing super-light optics for head-borne augmented and virtual reality applications 6
Slide 7: We drive life science and healthcare development
We drive life science and healthcare development Miniaturized, optimized platforms for diagnostics, research and bio-imaging Lasers for ophthalmology and aesthetic medicine Microscope cameras for visible light and electron microscopy Microoptics for high performance endoscopy
Slide 8: We provide flexible solutions for production efficiency
We provide flexible solutions for production efficiency Process automation and machine integration (Industry 4.0) Machine vision for smart factories Laser processing for flexible manufacturing Measuring technology for engines and gear units 8
Slide 9: We make roads and cities safer
We make roads and cities safer Intelligent traffic monitoring, tolling and control systems Automatic license plate recognition to keep citizens safe (Deep Learning) Data analysis for identifying traffic hot spots Services and software to serve the smart cities of the future 9
Slide 10: We explore new worlds
We explore new worlds First images from Perseverance Mars rover through Jenoptik HazCam camera lens assemblies. Credits: NASA/JPL-Caltech
Slide 11: Overview and strategy
Overview and strategy
Slide 12: Our strategic building blocks
Our strategic building blocks More Focus More Innovation More International We leverage our core We are stepping up our We are building a truly competencies R+D activities global enterprise in optics and photonics Transforming Jenoptik into a focused Ensuring our technological leadership Building a
Slide 13: Focused divisions
Focused divisions LIGHT & OPTICS – LIGHT & SAFETY – OEM-Business B2G-Business Development & production partner The provision of intelligent, multi- for OEM customers use, photonic products to lead the Long-term prospects independent standards for comprehensive of growth dynamic of OEMs traffic
Slide 14: We are committed to sustainability
We are committed to sustainability “ Our understanding of sustainability is based on the belief that we can only achieve our economic goals and thus permanently profitable growth by acting Input needed responsibly.” Dr. Stefan Traeger, President & CEO Photonics enables at least 11% of the globally
Slide 15: Fiscal year 2020 Group
Fiscal year 2020 Group
Slide 16: Key takeaways fiscal year 2020
Fiscal year 2020: Outstanding profitability in a difficult macroeconomic environment Mixed impact of COVID-19 to the portfolio Revenue of 767.2 million euros Adjusted EBITDA margin of 17.6% clearly exceeded forecast and prior year Implemented structural and portfolio measures take Key takeaw
Slide 17: Encouraging development of order intake in Q4
Encouraging development of order intake in Q4 – order backlog is solid basis for 2021 Order intake in million euros Order backlog in million euros 1000 600 6.7% 1.0% 750 792.7* 464.7* 460.1 739.4 400 500 200 250 0 0 2019 2020 Dec 31, 2019 Dec 31, 2020 Order intake in Q4 at 228.5 million euros e
Slide 18: COVID-19 is reflected in revenue by market and by region
COVID-19 is reflected in revenue by market and by region – increase in semiconductor equipment market Revenue by market Revenue by region 2020 (adjusted prior-year figures in brackets) in million euros 2019 *adjusted Consumer & electronics Other manufacturing1) Middle 25.2 East/ 3% Africa 38.3 Medic
Slide 19: Lower revenue and structural effects affected earnings figures
Lower revenue as well as effects arising from structural and portfolio measures affected earnings figures – EPS remain clearly positive In million euros 2020 2019 Gross margin slightly higher than in prior year due to lower cost of sales, better utilization of Revenue 767.2 855.2 / 837.0* producti
Slide 20: Sound balance sheet ratios and comfortable liquidity position
Sound balance sheet ratios and comfortable liquidity position in spite of COVID-19 and acquisitions Increase in working capital to 268.1 million euros, (in In million euros 2020 2019 particular as a result of acquisitions (31.12.19: 217.8m euros)) Working capital ratio at 34.9% - TRIOPTICS include
Slide 21: Fiscal year 2020 Divisions
Fiscal year 2020 Divisions
Slide 22: Light & Optics division
Light & Optics division: business with semiconductor equipment industry remains robust and ensures high margin level – positive contribution by TRIOPTICS Business with semiconductor equipment industry remained robust, decline in areas of biophotonics und industrial solutions; strong Q4 Profitabi
Slide 23: Light & Production division
Light & Production division: COVID-19 and slowdown in capital expenditure in automotive industry impacted business Revenue in Q4 exceeded figures of prior quarters, but over full year marked decline in all areas; contribution of INTEROB 19.4 million euros Structural and portfolio measures are pa
Slide 24: Light & Safety division
Light & Safety division: increase in revenue, earnings and free cash flow Stable capital spending by public-sector customers Operating results improved due to revenue growth; substantial earnings contribution in Q4 Project business leads to fluctuations in order intake Significant increase i
Slide 25: VINCORION: stable business with public sector customers
VINCORION: stable business with public sector customers Q4 strongest quarter in terms of revenue; in full year in particular decreases in aviation as well as energy & drive, demand in the power systems area remained good; revenue of 30.6 million euros generated in civil areas (prior year 41.3m eur
Slide 26: Outlook
Outlook
Slide 27: Outlook 2021 – Group
Outlook 2021 – Group Development of key indicators in 2021 Revenue growth in the low double-digit percentage range (incl. TRIOPTICS) EBITDA margin between 16.0 and 17.0 percent (prior year 14.6% / Fiscal year 2021: forecast to be specified in the course of the year) Increase in order intake in
Slide 28: Megatrends will drive demand for photonics solutions
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-performan
Slide 29: Why invest in Jenoptik?
Why invest in Jenoptik? 1 A leading global player in the growing Photonics market Unique technological expertise to offer high-end solutions for our customers 2 3 Benefiting from sustainable mega trends in diversified target markets Strong financial track record, solid organic growth and rising prof
Slide 30: Appendix
Appendix
Slide 31: A long tradition of innovation in optoelectronics
A long tradition of innovation in optoelectronics 15 16 17 18 19 20 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 Acquisition of IPO 1998
Slide 32: More dynamic revenue development in Q4
More dynamic revenue development in Q4 compared with prior quarters Revenue in million euros 8.3% 1000 Good business with the semiconductor equipment industry and public-sector 837.0* 750 customers continued +2.5% 767.2 Positive revenue contribution of TRIOPTICS and INTEROB: 47.2 million euros
Slide 33: Adjusted EBITDA margin clearly exceeded forecast
Adjusted EBITDA margin clearly exceeded forecast and prior-year figure EBITDA (adjusted*) in million euros EBIT (adjusted*) in million euros 150 5.3% 100 15.6% 138.0 93.4 120 130.7 80 78.8 90 60 60 40 56.8 39.1 34.3 30 45.6 38.1 20 26.5 30.5 31.7 19.7 20.0 23.8 17.3 24.9 12.8 6.2 13.5 0 0 Q1/19
Slide 34: Strong R+D commitment enables new products
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 100 12 100 10.7 10.7 11.3 12 100 12 10.4 10.4 7.5 8.9 9.0
Slide 35: Key financials 2020 of the photonic divisions and VINCORION
Key financials 2020 of the photonic divisions and VINCORION Light & in million euros Light & Optics Production* Light & Safety VINCORION Group* Revenue (external) 318.0 178.9 114.0 151.7 767.2 EBITDA 68.6 7.9 22.3 16.6 111.6 EBITDA margin 21.5%* 4.4%* 19.6%* 11.0%* 14.6% EBIT 52.1 -4.8 15.2 9.7 59.3
Slide 36: Key figures – five year overview
Key figures – five year overview In million euros 2020 2019 2018 2017 2016 Revenue 767.2 855.2 834.6 747.9 684.8 EBITDA 111.6 134.0 127.5 106.7 96.7 EBITDA margin (in %) 14.6 15.7 15.3 14.3 14.2 EBIT 59.3 88.9 94.9 78.0 68.5 EBIT margin (in %) 7.7 10.4 11.4 10.4 10.1 EPS (in euros) 0.73 1.18 1.53 1.
Slide 37: Shareholders and dividend information
Shareholders and dividend information Shareholder structure Thüringer Dividend Industriebeteiligungs 11.0% GmbH & Co. KG EPS Dividend payment 2,0 1.53 1,6 1.27 1.18 1,2 1.00 89.0% 0.73 0,8 0.25 0.30 0.35 0.25e Freefloat 0,4 0.13 0,0 2016 2017 2018 2019 2020 Major institutional shareholders (31.12.20
Slide 38: ESG: Jenoptik's internal contribution to the SDGs
ESG: Jenoptik’s internal contribution to the SDG’s and non-financial targets Quality Gender Decent Work and Industry Innovation Climate Partnership Education Equality Economic Growth and Infrastructure Action for the goals 2.6 million euros Diversity is reflected in Decent working Increasing R+D Com
Slide 39: ESG: photonic contribution to the SDGs and ratings
ESG: Jenoptik‘s photonic contribution to the SDG‘s and external sustainability ratings Good health Industry innovation Sustainable cities Responsible Jenoptik‘s and well-being and infrastructure and communities consumption and sustainability ratings production Biophotonics: Optical systems for Traff
Slide 40: Dates and contact
Dates and contact 25.03.2021 Financial Statements 2020 26.03.2021 Roadshow (virtual) 11.05.2021 Interim Statement January - March 2021 12.05.2021 UBS Pan European Small and Mid-Cap Conference (virtual) 19.05.2021 Berenberg US Conference (virtual) Leslie Iltgen www.jenoptik.com Vice President Investo