Jenoptik Ag · XETR:JEN
Jenoptik — Q1 2024 Earnings Presentation
17 slides from Jenoptik's earnings presentation, May 8, 2024
Slide 1: JENOPTIK AG – First quarter 2024
JENOPTIK AG – First quarter 2024 Dr. Stefan Traeger I Dr. Prisca Havranek-Kosicek | May 8, 2024 © 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 First quarter 2024
Highlights First quarter 2024
Slide 4: Delivered solid first quarter 2024 results
Delivered solid first quarter 2024 results − Strong growth in revenues and profit margins primarily driven by Advanced Photonic Solutions division and Non-Photonic Portfolio Companies − Continued successful execution of our strategy to gain share of wallet with our key customers: new project won in
Slide 5: First quarter 2024 Group
First quarter 2024 Group
Slide 6: Order intake lower than in prior year, continued solid level of order backlog
Order intake lower than in prior year, continued solid level of order backlog Order intake in MEUR Order backlog in MEUR 400,0 −14.5% 900 −1.8% 300,0 745.0 731.3 283.0 600 242.0 200,0 300 100,0 0,0 0 Q1/2023 Q1/2024 Dec 31,2023 Mar 30,2024 − Weaker demand in Optical Test & Measurement area and in −
Slide 7: Revenue increase drives substantial improvement in profitability
Revenue increase drives substantial improvement in profitability Revenue in MEUR EBITDA in MEUR 300 60 9.4% 21.6% 256.1 234.1 200 40 44.5 36.6 100 20 0 0 Q1/2023 Q1/2024 Q1/2023 Q1/2024 − Strong revenue performance driven by Advanced Photonic − EBITDA margin grew to 17.4% (prior year 15.6%) Solution
Slide 8: Earnings per share increased by 28.6%
Earnings per share increased by 28.6% In million euros Q1/2024 Q1/2023 Change in % − Gross margin influenced in particular by higher Revenue 256.1 234.1 9.4 depreciation/amortization Gross margin 32.8% 33.2% − Functional cost ratio amounted to 23.5% (prior year 24.1%) Functional costs 60.2 56.4 6.7
Slide 9: Continued sound financial basis and balance sheet
Continued sound financial basis and balance sheet In million euros Q1/2024 Q1/2023 Change in % Cash flows from operating − Cash flows from operating activities mainly influenced 36.9 49.6 −25.7 activities before income taxes by increase in working capital − Working capital ratio at 28.7% Cash flows
Slide 10: First quarter 2024 Divisions
First quarter 2024 Divisions
Slide 11: Advanced Photonic Solutions: Substantial growth in revenue and EBITDA
Advanced Photonic Solutions: Substantial growth in revenue and EBITDA Order intake in MEUR Revenue in MEUR EBITDA in MEUR 300 300 50 − 6.7% 10.3% 9.2% 40 200 200 40.1 30 36.7 212.1 197.9 200.5 181.2 20 100 100 10 0 0 0 Q1/2023 Q1/2024 Q1/2023 Q1/2024 Q1/2023 Q1/2024 − Order intake: continued robust
Slide 12: Smart Mobility Solutions: revenue and margin improved; continuing good order backlog
Smart Mobility Solutions: revenue and margin improved; continuing good order backlog Order intake in MEUR Revenue in MEUR EBITDA in MEUR 50 30 0,2 −24.3% 4.6% 40 0.1 0,1 20 24.0 30 38.9 22.9 -0.1 0 29.4 20 10 -0,1 10 0 0 -0,2 Q1/2023 Q1/2024 Q1/2023 Q1/2024 Q1/2023 Q1/2024 − Order intake is subject
Slide 13: Non-Photonic Portfolio Companies: order intake affected by project postponements; earnings strongly improved
Non-Photonic Portfolio Companies: order intake affected by project postponements; earnings strongly improved Order intake in MEUR Revenue in MEUR EBITDA in MEUR 50 50 8 − 54.1% 9.4% 68.7% 40 40 6 30 30 4 5.4 30.6 30.9 20 20 28.3 2 3.2 10 10 14.0 0 0 0 Q1/2023 Q1/2024 Q1/2023 Q1/2024 Q1/2023 Q1(2024
Slide 14: Outlook
Outlook
Slide 15: Fiscal year 2024: Further profitable organic growth
Outlook 2024 confirmed Expected development of key performance indicators in 2024 − Revenue growth in mid single-digit percentage range (2023: 1,066.0 million euros) − EBITDA margin of 19.5 to 20.0 percent, including expected negative impact Fiscal year 2024: of approx. 0.5 percentage points for mov
Slide 16: Appendix
Appendix
Slide 17: Dates and contact
Dates and contact 08.05.2024 Q1 2024 14.05.2024 UBS Conference, London 15.05.2024 STIFEL Conference, Frankfurt/Main 22.05.2024 Berenberg Conference, New York 18.06.2024 Annual General Meeting 09.08.2024 H1 2024 Andreas Theisen Sabine Barnekow https://www.jenoptik.com Head of Investor Relations Inves