Jenoptik Ag · XETR:JEN
Jenoptik — Investor Presentation (August 2022)
42 slides from Jenoptik's investor presentation, August 2022
Slide 1: Jenoptik – Experience the Era of Light
Jenoptik – Experience the Era of Light. Investor Relations Presentation I August 2022 © 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 21st 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 ~920 bn USD growing at a CAGR of >8.0% by 2028 Sour
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 Jenoptik Investor Relations Presentation 5
Slide 6: We ensure superb quality in optics manufacturing
We ensure superb quality in optics manufacturing − Gold standard for measuring and testing optics (for lenses, lens systems, and camera modules) in mobile devices − Measurement solutions for augmented and virtual reality optics to enable the Picture: Adobe Stock production of ever higher quality VR
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 − Laser processing for flexible manufacturing − Machine vision for smart factories − Measuring technology for engines and gear units − Process automation and machine integration (Industry 4.0) Jenoptik Investor Relations Presentation 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 Picture: Adobe St
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: Megatrends will drive growing demand for photonics solutions
Megatrends will drive growing demand for photonics solutions of the future - Digitization: growing demand for chips for various as well as new applications; increasing usage of augmented and virtual reality >> Jenoptik supplies high- performance optics, microoptics as well as innovative test & measu
Slide 13: Agenda 2025 "More Value"
With our new agenda 2025 we want to create “More Value” for our stakeholders by… Transforming Jenoptik into a globally leading pure photonics player Focusing on three highly attractive growth markets Our agenda Driving organic and non-organic growth 2025 „More Value“ Expanding profitability Increasi
Slide 14: Future Jenoptik setup with focus on three core markets
Future Jenoptik setup with focus on three core markets: Semiconductor & Electronics, Life Science & Medical technology, and Smart Mobility 2021e – Jenoptik present in 6+ markets 2025 – Jenoptik focuses on 3 core markets Defense/ Electronics Security Others 75% manufacturing B2B, hardware supply busi
Slide 15: New organizational structure of the Jenoptik Group
New organizational structure of the Jenoptik Group (excl. VINCORION) will be reflected in reporting structure starting in first quarter 2022 Non-Photonic Integrated businesses Portfolio Companies b b Advanced Photonic Solutions Smart Mobility Solutions (B2B Business) (B2G Business) Prodomax INTEROB
Slide 16: Our financial targets for 2025
Our financial targets for 2025 Our goals for 2025 − Accelerated transformation of Jenoptik into a globally leading pure photonics player − Focusing on three highly attractive growth Our agenda 2025 markets − Grow revenue to ~1.2 bn euros (incl. further divestments and acquisitions) „More Value“ − Ex
Slide 17: New structure and outlook 2022
New structure and outlook 2022
Slide 18: New organizational structure since first quarter 2022
New organizational structure since first quarter 2022 New organizational structure of the Jenoptik Group (excl. VINCORION) is reflected in the reporting structure since the first quarter 2022 Advanced Photonic Smart Mobility Non-Photonic Portfolio Solutions Solutions Companies Revenue Revenue Revenu
Slide 19: Focus on photonics – our divisional structure since 2022
Focus on photonics – our divisional structure since the beginning of 2022 Smart Mobility Solutions − Technology and services for road safety, public security and road user charging − Roadside equipment and software, including integration, installation and maintenance through to full-service operatio
Slide 20: Fiscal year 2022: Further profitable growth expected
Outlook for 2022 raised Our scheduled growth, however, presupposes that the geopolitical risks do not worsen further. This includes, among other things, the Ukraine conflict – with the sanctions that have been implemented and potential impacts on price developments, energy supply and supply chains –
Slide 21: Jenoptik's ESG strategy: As an Enabler, more sustainability
Jenoptik’s ESG strategy: As an “Enabler”, we are committed to more sustainability and contribute to more efficiency and resource conservation “Our understanding of sustainability is based on the belief that we can only achieve our economic goals and thus permanently profitable growth by acting with
Slide 22: Why invest in Jenoptik?
Why invest in Jenoptik? 1 Transformation into a globally leading pure 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 org
Slide 23: First half-year 2022 Continuing operations
First half-year 2022 Continuing operations
Slide 24: Strong development of order intake and backlog continued in Q2 2022
Strong development of order intake and backlog continued in second quarter 2022 – setting very good stage for further growth Order intake in million euros Order backlog in million euros 800 36.8% 800 30.7% 710.5 600 600 608.6 543.5 400 444.9 400 200 200 0 0 H1/2021 H1/2022 Dec 31, 2021 Jun 30, 2022
Slide 25: Strong organic growth and acquisitions resulted in significant revenue growth
Strong organic growth and contributions by the acquired companies resulted in significant revenue growth Revenue in million euros 600 35.8% 500 − Strong organic growth of the continuing operations of 400 447.2 13.7% − Advanced Photonic Solutions division grew significantly 300 329.2 due to strong or
Slide 26: Earnings increased on comparable prior-year level
Earnings increased on comparable prior-year level (without one-off effects); marked rise quarter-on-quarter EBITDA in million euros EBIT in million euros 100 4.4% 60 −13.6% 50 80 42.7 66.6 44.4% 38.4 40 18.4 69.6 52.0% 60 18.4 16.1 50.1 36.9 30 32.2 40 16.1 48.2 48.6 20 24.3 22.3 16.5 34.0 20 10 4.3
Slide 27: Statement of income
Statement of income In million euros H1/2022 H1/2021 − Gross margin impacted by higher material and personnel costs − Functional costs increased much less than revenue in spite of Revenue 447.2 329.2 the inclusion of the companies acquired in 2021 Gross margin 32.7% 33.7% ▪ R+D expenses: 25.4 millio
Slide 28: Sound financial base and balance sheet structure
Jenoptik is well positioned for future growth with sound financial base and balance sheet structure Group In million euros H1/2022 H1/2021 − Cash flow from operating activities increased due to significantly higher earnings before non-cash effects and lower Earnings before tax* 33.9 42.8 effects fro
Slide 29: First half-year 2022 Divisions
First half-year 2022 Divisions
Slide 30: Advanced Photonic Solutions: very positive operational development
Advanced Photonic Solutions: ongoing very positive operational development − Strong organic growth of 21.1%; revenue with semiconductor equipment industry, biophotonics and industrial solutions areas grew substantially; Jenoptik Medical and the SwissOptic Group contributed 73.3 million euros; − EBIT
Slide 31: Smart Mobility Solutions: substantial rise in order intake and backlog
Smart Mobility Solutions: substantial rise in order intake and order backlog − Increase in revenue in the first six months of 2022 − EBITDA lower than in prior year, in part due to higher R+D expenses − Order intake grew; larger orders from North America, Europe and the Middle East/Africa included (
Slide 32: Non-Photonic Portfolio Companies: order backlog markedly higher
Non-Photonic Portfolio Companies: order backlog markedly higher than at year end 2021 − Revenue below prior-year level (in prior year revenue contribution from non- optical process metrology business included); increase in the automation area − Earnings and margin lower than in prior year; but impro
Slide 33: Appendix
Appendix
Slide 34: A long tradition of innovation in optoelectronics
A long tradition of innovation in optoelectronics 16 17 18 19 20 21 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 35: Revenue share in Asia substantially expanded
Revenue share in Asia substantially expanded Revenue by region 2021 in million euros 2020 Middle East / 24.3 Africa 20.4 172.9 Asia / Pacific 104.9 205.7 Americas 160.6 Europe 208.4 (without Germany) 187.5 139.4 Germany 142.0 − Foreign revenue grew to ~81% (prior year ~77%) − Strongest rise in Asia/
Slide 36: Strong R+D commitment enables fundamentally 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 12.5 11.9 100 8.8 10 10.7 10.7 10.4 12 6.7 8.9
Slide 37: Key financials 2021 of the photonic divisions
Key financials 2021 of the photonic divisions in million euros Light & Optics Light & Production Light & Safety Continuing operations Revenue (external) 460.7 176.2 110.1 750.7 155.7 (incl. one-offs) EBITDA 136.6 13.2 19.2 125.2 (excl. one-offs) 20.7% (incl. one-offs) EBITDA margin* 29.6% 7.5% 17.4%
Slide 38: Key figures – five-year overview
Key figures – five-year overview In million euros 2021* 2020* 2019 2018 2017 Revenue 750.7 615.5 855.2 834.6 747.9 155.7 (incl. one-offs) EBITDA 127.5 106.7 125.2 (excl. one-offs) 92.8 134.0 20.7% (incl. one-offs) EBITDA margin (in %) 15.3 14.3 16.7% (excl. one-offs) 15.1 15.7 EBIT 108.1 (incl. one-
Slide 39: 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 1.43 1,6 1.27 1.18 1,2 89.0% 0.73 0,8 0.30 0.35 0.25 0.25 Freefloat 0,4 0.13 0,0 2017 2018 2019 2020 2021 Major institutional shareholders (31.07.202
Slide 40: ESG: Jenoptik's internal contribution to the SDGs and non-financial targets
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 1.9 million euros Diversity is reflected in Decent working Increasing R+D Com
Slide 41: ESG: Jenoptik's photonic contribution to the SDGs and sustainability ratings
ESG: Jenoptik‘s photonic contribution to the SDG‘s and external sustainability ratings Responsible Good health Industry innovation Sustainable cities Jenoptik‘s consumption and and well-being and infrastructure and communities sustainability ratings production Biophotonics: Optical systems for Traff
Slide 42: Dates and contact
Dates and contact 10.08.2022 Publication of Interim Report January – June 2022 30.-31.08.2022 Roadshow Cologne/Düsseldorf 01.09.2022 dbAccess TMT Conference, London 06.-07.09.2022 Roadshow Milan/Lugano 08.09.2022 Coba ODDO Conference, Frankfurt Leslie Iltgen www.jenoptik.com Vice President Investor