In This Article:
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Order Intake: EUR524 million in H1, down 4% year-over-year.
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Sales Growth: 7% increase in H1 2024 compared to H1 2023.
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EBITDA: EUR101.4 million with a margin increase of 70 basis points.
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Earnings Per Share: EUR0.69, up 23% year-over-year.
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Net Debt: Remained at the same level as the end of 2023, with leverage at two times EBITDA.
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Revenue Growth Guidance: Mid-single-digit percentage range for fiscal year 2024.
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EBITDA Margin Guidance: Between 19.5% and 20% of sales for fiscal year 2024.
Release Date: August 09, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Jenoptik AG (JNPKF) reported a strong Q2 with a 16.7% quarter-over-quarter order intake growth, indicating a positive demand trend.
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Sales increased by more than 11% quarter-over-quarter and over 5% compared to Q2 2023, showing robust revenue growth.
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The construction of the new fab in Dresden is on schedule, which is crucial for meeting demand in the semiconductor manufacturing segment.
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The company confirmed its guidance for mid-single-digit sales growth and an EBITDA margin of 19.5% to 20% for the fiscal year.
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Jenoptik AG (JNPKF) experienced a significant improvement in profitability, with group EBITDA reaching EUR101.4 million and a margin increase of 70 basis points.
Negative Points
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Order intake for the first half of the year was down by 4% year-over-year, indicating some challenges in maintaining consistent demand.
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The book-to-bill ratio fell slightly below 1, driven by subdued demand in the optical test and measurement business and certain life science applications.
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The Smart Mobility segment experienced a decline in revenues due to the lumpiness of the project business and missing orders.
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The EBITDA margin for the APS division was below last year's level, raising concerns about profitability in this segment.
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The company faces potential headwinds from labor cost inflation due to the next step of the union tariff agreement.
Q & A Highlights
Q: On the demand side, it seems you're more upbeat compared to Q1. Is this due to broad demand in the semiconductor business or specific clients? Also, how is demand in the more industrial segments of APS? A: We are not necessarily more upbeat than in Q1; it's a continuation of our expectations. We anticipated order intake patterns to pick up throughout the year. The semiconductor business is stable, and while industrial segments face pressure, the demand in semicon is well underway.
Q: Regarding HOMMEL ETAMIC, you plan to develop it internally. Does this apply to all locations, and how do you plan to develop the asset? A: We cannot go into specific details at this time, but we intend to develop HOMMEL internally, leveraging synergies with other metrology activities.