Overview
Jenoptik AG said its order intake in the first quarter reached €357 million, an increase of 74% from €205 million in the same quarter a year earlier. The company attributed the surge primarily to its Semiconductor & Advanced Manufacturing segment, which benefited from a major order, and noted rising orders in the Biophotonics segment across medical technology, life science and defense markets.
Revenue, profitability and margins
Group sales for the quarter totaled €241 million, a 1% decline from the prior-year period. Despite the small sales decrease, earnings before interest, taxes, depreciation and amortization (EBITDA) rose to €44.4 million, up 22.5% versus the year-ago quarter. The EBITDA margin improved to 18.4%, compared with 14.9% in the first quarter of 2025.
The company said the margin expansion reflected a more favorable product mix, the absence of one-time relocation costs tied to the new Dresden plant and the impact of cost-reduction measures.
Orders, backlog and book-to-bill
Jenoptik reported a book-to-bill ratio of 1.48 for the quarter, up from 0.84 a year earlier. The order backlog rose to €719.2 million from €591 million at the end of 2025, indicating increased future revenue visibility tied to the stronger intake.
Cash flow and capital outlook
Free cash flow before interest and taxes fell to €15.9 million from €28.9 million in the prior-year period. The company said this decline was driven by a build-up in working capital related to rising demand.
Jenoptik reiterated its outlook for 2026: it expects single-digit revenue growth from 2025’s €1,046 million and an EBITDA margin in the 19% to 21% range, versus the 18.4% margin reported last year. Capital expenditures are projected to be slightly below the prior year’s €77.4 million.
Management view
The chief financial officer commented that while the current pace of order intake is unlikely to continue at the same level, the influx of orders provides a solid foundation for fiscal 2026.
The results underline a period of stronger demand in semiconductor-related equipment and biophotonics, improved operating profitability and increased backlog, offset by tighter free cash flow due to working-capital needs.