Jenoptik Sees Double-Digit Earnings Growth in First Half of 2024
Diversified photonics technologies company Jenoptik has reported a substantial increase in revenue and pre-tax earnings for the first six months of 2024. Despite a slow start, demand improved in the second quarter, leading to double-digit earnings growth.
Jenoptik’s headquarters in Jena, Germany
“Jenoptik performed very well in an overall challenging market environment. After a slow start, demand improved in the second quarter, and we achieved substantial revenue and earnings growth in the first six months. We expect this demand to continue in the second half of the year. Based on this, we confirm our guidance for 2024,” commented Stefan Traeger, President & CEO.
Revenue Growth Driven by Advanced Photonic Solutions Division
The company’s revenue increased by 7.1 percent to €540.8 million, driven by the Advanced Photonic Solutions division and the Non-Photonic Portfolio Companies. In Europe, including Germany, Jenoptik recorded significant growth of 18.9 percent, while revenue in the Americas and Asia/Pacific did not reach the prior year’s levels. Overall, 70.7 percent of revenue was generated abroad.
Jenoptik’s revenue growth in the first half of 2024
Pre-Tax Earnings Up 10.7 Percent
The Group’s pre-tax earnings EBITDA grew faster than revenue, mainly due to the strong development of the Non-Photonic Portfolio Companies and a good performance of the Advanced Photonic Solutions division. At €101.4 million, pre-tax earnings were 10.7 percent up on the prior-year figure of €91.6 million.
Jenoptik’s pre-tax earnings in the first half of 2024
Outlook for 2024
Based on the positive results, Jenoptik confirms its guidance for 2024. The company expects demand to continue in the second half of the year, driven by the Advanced Photonic Solutions division and the Non-Photonic Portfolio Companies.
Jenoptik’s outlook for 2024
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About Jenoptik
Jenoptik is a diversified photonics technologies company that provides solutions for the photonics industry. The company is headquartered in Jena, Germany, and has operations around the world.
