Press release (PDF) - Jenoptik AG

LASERS & MATERIAL PROCESSING l OPTICAL SYSTEMS l INDUSTRIAL METROLOGY l TRAFFIC SOLUTIONS l DEFENSE & CIVIL SYSTEMS
Press Release
JENOPTIK AG l Public Relations l Carl-Zeiss-Strasse 1 l 07743 Jena l Phone: +49 3641 65-2255 l Fax: -2484 l E-mail: pr@jenoptik.com l www.jenoptik.com
Chairman of the Supervisory Board: Rudolf Humer l Executive Board: Dr.-Ing. Michael Mertin (Chairman), Frank Einhellinger
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13.05.2011
Jenoptik Group reports jump in 1 st quarter
2011 profit.
The Jenoptik Group posted a very good 1 st quarter 2011 operating result.
Sales, order intake and order backlog also produced a positive
performance. The EBIT forecast for the full year 2011 was raised to
40 million euros.
Sales in the 1 st quarter 2011 increased by 16.5 percent compared with the same period in the
previous year to 124.5 million euros (prev. year 106.9 million euros). Jenoptik reported a jump in
the Group EBIT to 11.8 million euros as against 3.4 million euros in the previous year’s quarter.
The growth in sales and the significantly stronger rise in earnings were attributable primarily to the
high level of sales generated by the Lasers & Optical Systems segment with the semiconductor
industry, as well as to strong growth in sales by the Metrology segment thanks to the continuing
high level of demand from the automotive industry. In the 1 st quarter Jenoptik achieved an EBIT
margin of 9.5 percent. As a result of the high Group EBIT and an improvement in the net financial
result, earnings before tax rose to 9.3 million euros (prev. year 0.0 million euros), earnings after tax
totaled 7.5 million euros (prev. year minus 0.3 million euros).
“High order intakes and major individual orders, more efficient structures, improved production
processes and a continuation of the positive development of the economy are all having a positive
impact. In particular our focus on Asian core regions, the expansion of the global distribution as
well as the investments we made in the structure and expansion of the US business are supporting
this,” said Jenoptik Chairman Dr. Michael Mertin at the publication of the quarterly figures.
Order intake records an increase of 36.4 percent over the previous
year and is significantly higher than sales in the 1 st quarter.
The order intake in the 1 st quarter 2011 was 172.6 million euros (prev. year 126.5 million euros). It
exceeded the figure for the same quarter in the previous year by 36.4 percent and was in absolute
terms also 48.1 million euros above the high level of sales. This led to a book-to-bill ratio of 1.39.

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The order backlog increased accordingly by 12.0 percent to 398.1 million euros (31.12.2010:
355.4 million euros). The order intake includes the major partial order for the PUMA armored
fighting vehicle worth just under 40 million euros in the Defense & Civil Systems segment. Another
major partial order is expected in the next months.
The major order of the Traffic Solutions division of more than 20 million euros from Saudi Arabia
published today will also impact on the order intake in the current 2nd quarter 2011. Several
hundred stationary systems for recording traffic light and speed violations will be delivered and
installed through this year and the next. As a result, the order will in part contribute to sales and
earnings already in 2011.
Further improvement in earnings and financial key indicators in the
1 st quarter 2011. Number of employees remained constant.
“In the 1 st quarter we further improved the key financial indicators. In addition to another marked
positive cash flow from operating activities there was a further reduction in net debt,” said CFO
Frank Einhellinger in summary.
As a result of the expansion of business, cost of sales came in at 80.3 million euros (prev. year
75.3 million euros). However, the 6.9 percent rise was at a markedly lower rate in proportion to the
16.5 percent growth in sales.
Thanks to the strong improvement in the earnings before tax, cash flow from operating
activities reached 12.4 million euros (prev. year 1.6 million euros). The profit reported in the
1 st quarter 2011 increased the shareholders’ equity to 290.1 million euros (31.12.2010: 282.5
million euros). This led to a small rise in the shareholders’ equity quota to 45.1 percent
(31.12.2010: 44.9 percent) despite the slight increase in the balance sheet total.
Net debt fell further in the 1 st quarter 2011. Following the significant reduction in the 4 th quarter
2010 to 79.3 million euros at the end of 2010, it fell by a further 7.3 percent as at the end of the
1 st quarter 2011 to 73.5 million euros.
The number of employees in the Jenoptik Group remained virtually constant at 2,956 compared
with the end of 2010 (31.12.2010: 2,951). The increase in sales was therefore achieved with the
same headcount; sales per employee rose significantly.

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Information on the three segments of the Jenoptik Group.
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The Lasers & Optical Systems segment saw a continuation of the positive development. The
Optical Systems division generated increased sales with the semiconductor industry reflecting the
currently very high level within the sector cycle. The Lasers & Material Processing division also
reported an increase in the Lasers business unit. The segment increased sales by 24.1 percent to
56.1 million euros (prev. year 45.2 million euros), posting a segment EBIT of 10.2 million euros
(prev. year 3.9 million euros). There was a continuation of the positive development in the order
book situation with an 8.7 percent rise in the order intake to 61.1 million euros (prev. year 56.2
million euros). In addition to the continuing high level of demand from the semiconductor industry
there was a rise in the demand for laser processing systems. The medical laser area also continued
to deliver a positive performance. The segment’s order backlog, which rose by 2.8 percent to 101.6
million euros, only includes the long-term supply contract for the automotive supplier Magna on a
pro rata basis.
The Metrology segment increased sales by 40 percent to 28.0 million euros (prev. year 20 million
euros). The growth was primarily attributable to the Industrial Metrology division in which the
continuing high level of demand from the automotive industry is now being reflected in the sales
and which consequently was also making a key contribution to the increase in EBIT. The segment
EBIT totaled 1.0 million euros in the 1 st quarter (prev. year minus 1.0 million euros). The settlement
of major orders is becoming an increasingly characteristic feature of the business in the Traffic
Solutions division, with no major order having been settled in the 1 st quarter 2011. The segment
reported an order intake of 38.0 million euros, just below the level for the previous year (prev. year
40.4 million euros) although that figure was characterized by a major order for the Traffic Solutions
division in excess of 12 million euros. As a result of the increase in the order intake compared with
the level of sales, the order backlog rose to 51.9 million euros (prev. year 45.1 million euros).
The Defense & Civil Systems segment continued to report a stable performance. At 40.0 million
euros sales were almost at the same level as in the previous year (prev. year 41.6 million euros). The
segment increased its EBIT to 1.1 million euros as the result of cost savings and a change in the
sales mix (prev. year 1.0 million euros). The high order intake posted by the segment was
significantly influenced by the partial order for the PUMA armored fighting vehicle for nearly 40
million euros and therefore rose to 73.7 million euros (prev. year 29.7 million euros). There was also
a corresponding sharp increase in the order backlog which totaled 246.4 million euros as at the end
of the 1 st quarter (31.12.2010: 212.2 million euros).

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Outlook for the current fiscal year: on the earnings side Jenoptik expects to
report its best year in terms of the operating business in the company’s
recent history.
The Group anticipates a continuation of the positive performance in the current fiscal year,
particularly in its sales with the automotive and semiconductor industries. Deliveries to the
semiconductor industry in the 1 st quarter 2011 reflect for Jenoptik the currently very high level
within the sector cycle, consequently the results of the 1 st quarter cannot be projected for the full
year. Here Jenoptik expects a normalization of business during the further course of the year.
As a result of the very good 1 st quarter 2011, Jenoptik raised its EBIT forecast from the original 35
to the new figure of 40 million euros last Monday. This reflects an improvement of more than 35
percent compared with the previous year’s figure of 29.0 million euros. Sales in 2011 are forecast
to be at least 510 million euros and, as such, fully compensate for the sales of Jena-Optronik GmbH
which was sold in December 2010.
“We expect this year to be the strongest for operating earnings since the disposal of M+W Zander
five years ago. The quality of the results testifies to the fact that we are able to achieve our longterm
profitability targets,” said the Jenoptik Chairman.
Contact:
JENOPTIK AG
Investor Relations
Katrin Fleischer
Telephone: +49 3641 65-2290
Mail: katrin.fleischer@jenoptik.com

The Jenoptik Group at a glance:
January-March 2011 and January-March 2010
(Figures in million euros)
Sales
Lasers & Optical Systems
Metrology
Defense & Civil Systems
Others*
Result from operating activities (EBIT
Lasers & Optical Systems
Metrology
Defense & Civil Systems
Others*
Jan.-March
2011
Group** Continuing
business
divisions
124.5
56.1
28.0
40.0
0.4
11.8
10.2
1.0
1.1
-0.5
106.9
45.2
20.0
41.6
0.1
3.4
3.9
-1.0
1.0
-0.5
Jan.-March 2010
Discontinued
business division
8.3
8.3
0.6
Group
115.2
45.2
20.0
49.9
0.1
4.0
3.9
-1.0
1.7
-0.6
+/- in
percent
16.5
24.1
40.0
-3.8
++
++
++
++
10.0
0
Earnings after tax 7.5 -0.3
0.7
-0,1
0.7 0.4 ++
Earnings per share 0.13 € 0.00 € 0.01 € 0.01 € ++
Cash flow from
operating activities
12.4 1.6 ++
Order intake
172.6 126.5 19.1 145.6 36.4
Lasers & Optical Systems
61.1 56.2
56.2 8.7
Metrology
38.0 40.4
40.4 -5.9
Defense & Civil Systems
73.7 29.7 19.1 48.8 148.1
Others*
-0.2 0.2
0.2 ++
Order backlog
Lasers & Optical Systems
Metrology
Defense & Civil Systems
Others*
Employees (incl. trainees)
Lasers & Optical Systems
Metrology
Defense & Civil Systems
Others*
March 31, Dec. 31,
2011 2010
Group ** Group *** Continuing
business
divisions
398.1 355.4 322.7
101.6 98.8 70.2
51.9 45.1 42.4
246.4 212.6 212.6
-1.8 -1.1 -2.5
2,956 2,951 2,973
1,240 1,234 1,230
633 632
657
930 931
937
153 154
149
March 31, 2010
Discontin.
business
division
*) Others includes holding, SSC, real estate, consolidation.
**) In 2011 the Group corresponds to the continuing business divisions.
***) The discontinued business division is not included any more as at the balance sheet date 31.12.2010.
Jena, May 13, 2011
46.1
46.1
129
129
Group
368.8
70.2
42.4
258.7
-2.5
3,102
1,230
657
1,066
149