Jenoptik Down for Year’s First Half, Reports $389.9M in Revenue
Jenoptik concluded the first half of its year with a reported revenue of €329 million ($389.9 million), a year-over-year decrease of 14.1%. For the quarter, the company’s revenue dropped 17.4% to €164.6 million ($194.3 million).
Compared to 2019, earnings per share fell 56.6% for the six-month period ending in June 2020, and 22.8% for the quarter. Quarterly earnings per share reached €0.19 ($0.23).
“After a solid start to the year, the second quarter has seen a weaker order situation, as we expected,” said Stefan Traeger, Jenoptik president and CEO.
“However, we are confident of achieving improved business performance in the second half-year. Key to this has been our comprehensive and rapid response, with a bunch of measures, to the structural challenges we face, particularly in the automotive industry, and, of course, to the effects of the corona pandemic.”
In announcing its financial results, Jenoptik reported that its group order intake was down on the previous year, with a slight increase in order backlog. The company, which acquired Spanish company INTEROB in February and TRIOPTICS in July, reported a revenue contribution of €5.3 million ($6.3 million) from INTEROB over the period.
The Light and Optics Division of the company generated €137.7 million ($163.2 million) in the first half of the year, down 10% on the adjusted prior year figure. The division’s Biophotonics and Industrial Solutions units declined despite growth to the semiconductor equipment industry.
Jenoptik said its Light and Production Division was most affected by the impacts of COVID-19, reflective of a company and global dip to the automotive industry. The division posted a six-month revenue decline of 33.2%, finishing at €74.3 million ($88 million) for that period. The Light and Safety Division countered the decline by registering a revenue increase of more than 15% in the first half of the year, of €55.7 million ($66 million).
The Jenoptik executive board announced forecasts in the range of €770 million to €790 million ($912.4 million to $936.1 million) for the year. The estimate does not include contribution from TRIOPTICS, Jenoptik said.
Financial results are available here.
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