Jenoptik Group increases sales and operating profit in the 3rd quarter of 2001.

Photonics business division again increases its sales and operating profit.

Clean Systems business division maintains a stable order situation.

 

Asset Management business division´s operating profit lower than in the 2nd quarter of 2001 as a result of precautionary measures.

The Jenoptik Group maintains its prognoses for the entire fiscal year.

 

The Jenoptik Group (German security ident. no. 622910) saw increases in sales and profits in the first nine months of the fiscal year. "The Group has developed positively over the first nine months of the fiscal year in spite of the slow economy and the continuing crisis in the semiconductor industry," said Lothar Späth, Jenoptik CEO.

 

Group sales of 1,065 million euros represented an increase of 32.5 percent over last year´s figures (803.6m euros). The Jenoptik Group was also able to increase its operating profit slightly to 49.4 million euros (up from 48.5m euros). The Group net income came to 38.1 million euros, came in below last year´s figure of 57.6m euros. However, in 2000 this included income from the sale of company stock to the amount of 32.1 million euros.

 

Stable order situation over the first nine business months.
The order situation for the Jenoptik Group remained stable over the first three quarters of the fiscal year. The Group´s order intake of 1.55 billion euros approximately maintains last year´s level of 1.60 billion euros. JENOPTIK AG has profited from its presence in a number of different sectors and regions in boosting its order intake.

 

The Group´s order backlog is now higher than it had been over the first nine months of 2000, well clearing the 2 billion-euro threshold to 2.3 billion euros. This represents an increase in order backlog of 8.4 percent. Even disregarding order intake from the fourth quarter, the Jenoptik Group will enter fiscal year 2002 with more than half of its order backlog as of September 30, 2001.

 

Jenoptik Group adheres to its prognosis for the overall fiscal year.
The Jenoptik Group plans a sales increase of at least 25 percent for the overall fiscal year 2001. Net income should surpass last year´s adjusted figures of 54.4 million euros by 30 percent (figures excluded income from the sale of company stock), provided that all projects are accounted for within expected deadlines and calculations and that the capital market situation does not deteriorate much further by the end of the year. "We will therefore be able to maintain our prognoses for fiscal year 2001. The Group figures of October confirm that we will achieve our aims," said Lothar Späth, Jenoptik´s CEO.

 

Information on the three business divisions:

 

Sales in the Clean Systems business division up 64 percent. Order intake stable. The Clean Systems business division completed the first three quarters of the current fiscal year with an increase in sales of 64.9 percent. Division sales of 826.7 million euros were considerably higher than a year earlier (501.5m euros), which was mainly the result of the account settlement of major projects in the 2nd and 3rd quarters. The Clean Systems operating result of -6.5 million euros was negative as expected (last year: -4.1m euros). This was chiefly the result of the year-end accounting deadlines usual for the sector, as well as related advance expenditures.

 

The Clean Systems business division received 1.31 billion euros in order intake, a strong figure only slightly below that of last year (1.37bn euros). One important 3rd quarter order for 230 million euros came from IBM. M+W Zander is to provide the facility management of all IBM sites in Germany, Austria, Switzerland, Hungary, Russia and the Czech Republic. This long-term major order is to run five years and will influence the business division´s order backlog positively. Clean Systems was thus able to expand, with its order backlog crossing the 2 billion-euro threshold for the first time by September 30 of this year. The division order backlog of 2,007.4 million euros amounts to an increase of 8.5 percent over last year.

 

Taking into account the entire fiscal year, the Clean Systems business division expects a level of order intake similar to that of last year. In the fourth quarter, one important order for 40 million euros was received from SolarWorld AG for the engineering of a solar cell factory in Freiberg, Saxony. For the first time, M+W Zander is taking on the additional responsibility for the new production facility´s process technology and thus for a smooth start to the factory´s production. For M+W Zander, this opens up an additional new high-growth business area. In this way, the Clean Systems business division is lessening its dependence on the strongly cyclical semiconductor industry.

 

Photonics business division achieves an increase in sales, operating profit and order intake and backlog.
The Photonics business division has continued to expand over the past nine months and was able to increase both its sales and operating profit around 20 percent. Sales were up 19 percent to 185.9 million euros (from 155.5m euros). Operating profit rose to 15.2 million euros, 21.0 percent more than in 2000 (12.5m euros). "The increase in profits was contibuted to by all Photonics business areas," said Späth.

 

The Photonics business division also achieved increases in order intake and backlog. Order intake rose 9.3 percent to 223 million euros (up from 204m euros). Order intake climbed particularly rapidly in the areas of electromechanical systems, measurement technology and laser diodes. The Electromechanical Systems business area received one important order from China for railroad tilting technology. This signified the company´s entry into an important growth market within the transportation sector. As of September 30, 2001, the Photonics business division maintained 322 million euros in order backlog (in 2000: 298.5m euros). This increase of 7.9 percent was in part the result of a long-term subcontracting order for the Osiris helicopter system.

 

In the 3rd quarter, progress was made by XTREME technologies GmbH, a joint venture of the Photonics business division, founded together with Lambda Physik AG in May of this year. Solid Laser GmbH was also founded in the 3rd quarter, a company specializing in the manufacturing and distribution of special laser sources for laser marking.

 

The Photonics business division is expected to conclude fiscal year 2001 with increases yet again in the important key categories of sales, operating profit, order intake and order backlog. One important investment in the future of the company´s Jena-based operations was put into operation at the beginning of November - a new production facility for diode lasers. The company invested 10 million euros in the facility, including production machinery.

 

Asset Management business division figures as expected below last year´s levels.
In line with expectations, the first nine months of the fiscal year were less auspicious for the Asset Management business division than had been the first nine months of 2000. As a result of a continually weak stock market, DEWB AG did not undertake any major transactions during the reporting period. Sales of 37.7 million euros corresponded to a fall of 73.9 percent from last year´s figure (144.1m euros). Operating profit of 22.6 million euros, a very good figure for the venture capital branch, also represented a considerable decrease from 2000 (49.4m euros). DEWB AG sales and profits were mostly the result of the complete sale of its stock in CyBio AG, a listed company, in the first quarter of 2001.

 

The already weakened capital market was strained further by the terrorist attack on New York´s World Trade Center on September 11. Due to the state of insecurity on capital markets, DEWB had to depreciate the book value of its investments in the third quarter. As of September 30, this depreciation has amounted to approximately 9 million euros, or approximately 8 percent of the investment book values.

 

DEWB, however, continued to expand its portfolio, acquiring venture capital shares in four further companies over the third quarter of 2001. This raised the total number of new venture capital investments to seven this year. For the first time, DEWB AG purchased stocks in a company previously listed on the market. In September of this year, the Jenoptik venture capital company acquired a portion of the capital increase raised by TePla AG, thus augmenting its share in TePla to 29.6 percent. The total capital invested by DEWB AG thus rose to 111.3 million euros as of September 30, 2001, including the new investments as well as contractually defined milestone payments.

 

For the 4th quarter, the Asset Management business division plans small transactions with a positive contribution to results. The 3rd quarter´s operating profit will remain stable until the end of the year - assuming there will be no further deterioration in the capital market. DEWB AG plans to acquire further technology investments in its focal sectors of optoelectronics, biotechnology and information and telecommunications technology.

 

Jena, November 28, 2001

 

Jenoptik Öffentlichkeitsabteilung