JENOPTIK AG

Earnings Release • Oct 15, 2014

News Details

Ad-hoc | 15 October 2014 21:19

Jenoptik revises 2014 revenue and earnings guidance.

Jenoptik AG / Key word(s): Change in Forecast

15.10.2014 21:19

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Annual targets are no longer attainable due to subdued demand from the
machine construction, automotive and semiconductor equipment industries, as
well as project postponements and more stringent export restrictions.

JENOPTIK AG has revised its 2014 revenue and earnings guidance despite high
order intakes. On the condition that a major international order in the
Defense & Civil Systems segment can still be completed by year-end, the
Executive Board is now expecting Group revenue for the current fiscal year
to come in at about 600 million euros (prior year 600.3 million euros).
Group operating result (EBIT) is due to total around 50 million euros
(prior year 52.7 million euros). This shall apply provided that
uncertainties in the defense business will not increase over the coming
weeks. The prior guidance for 2014 included revenue growth of around 5
percent and Group EBIT of approximately 55 million euros.

The reduced forecast for the 2014 annual targets is particularly the result
of deteriorating external circumstances:
On the one hand, demand from the machine construction, semiconductor
equipment and automotive industries was significantly weaker in recent
weeks and remained substantially below the expectations of Jenoptik, thus
negatively impacting on the course of business in the Lasers & Optical
Systems and Metrology segments. This situation is exacerbated by project
postponements on the part of customers.
On the other hand, increasingly stringent armament export restrictions
issued by the German government due to the crisis in Russia and Ukraine
will also result in lost revenue for the Jenoptik Group, in particular the
Defense & Civil Systems segment, in the low double-digit million euro
range.

The Jenoptik Group will continue to consistently pursue its present
strategy. Due to the adverse development of business in 2014 resulting from
external circumstances, however, the Executive Board is extending its
planning horizon for the Group's medium-term forecast. The company
accordingly now anticipates annual revenue of around 800 million euros with
an average EBIT margin of 9 to 10 percent over the market cycles, and
including smaller corporate acquisitions, to be achieved in 2018, one year
later than originally planned.

Jenoptik will publish its figures on the first nine months of 2014 on
November 12. According to preliminary estimates, Group revenue will be
slightly below the level in the prior year (prior year 432.5 million
euros), Group EBIT will be at last year's level (prior year 37.5 million
euros). In the period covered by the report, the Group will state a
substantial increase in order intake (prior year 415.4 million euros).

Contact: IR, Sabine Barnekow, Phone/Fax 03641-652156/2804; www.jenoptik.de

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Language: English
Company: Jenoptik AG
Carl-Zeiss-Straße 1
7739 Jena
Germany
Phone: +49 (0)364 165-0
Fax: +49 (0)364 165-2804
E-mail: ir@jenoptik.com
Internet: www.jenoptik.com
ISIN: DE0006229107
WKN: 622910
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

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