© begemot-30-dreamstime.com Business | March 25, 2016
2015 the best fiscal year in Jenoptik’s recent history
The Jenoptik Group returned to profitable growth in 2015, ending the fiscal year with record figures for revenue, earnings and cash flow.
Revenue grew more than 13 percent to 668.6 million euros (prior year 590.2 million euros). Products from all three segments, including laser machines and metrology systems for the automotive industry and optoelectronic systems, helped to generate this increase, as did the settlement of a major order in the Defense & Civil Systems segment. The contribution to revenue made by Vysionics, the company acquired in 2014, and foreign currency exchange effects also boosted revenue. “We achieved our targets and have taken a major step forward in the strategic development of the company. Operational excellence, innovation and further internationalization remain the cornerstones of our approach. In 2015, for example, we generated first major revenues with new products in communications technology, a market we previously have not served, and secured new customers from the life science industry outside Europe. More than two thirds of our revenue came from abroad in 2015,” says Jenoptik President & CEO Michael Mertin, summing up the past fiscal year. In regional terms, North America and Europe showed the greatest growth, but revenue also increased in Asia. The revenue boost in Europe was in part due to the first-time inclusion of Vysionics, the specialist for traffic safety technology from the United Kingdom that was acquired in late 2014. Group operating result rose at a stronger rate than revenue With 18.7 percent, the group EBIT showed considerably stronger growth than revenue, and came to 61.2 million euros (prior year 51.6 million euros). The EBIT margin greatly improved to 9.2 percent (prior year 8.7 percent). This growth was in part due to a changed revenue mix and the contribution to earnings from Vysionics. Group earnings before interest, taxes, depreciation and amortization (group EBITDA) also increased at a faster rate than revenue, by 16.7 percent to 88.8 million euros (prior year 76.1 million euros). In 2015, Jenoptik generated earnings after tax of 49.9 million euros (prior year 41.6 million euros). Earnings per share rose to 0.87 euros (prior year 0.73 euros). Order intake up on prior year The group order intake rose by 47.5 million euros, or 8.1 percent, to 636.7 million euros (prior year 589.2 million euros). It included a major order to equip the Patriot missile defense system. At 373.4 million euros, the order backlog was down on the prior-year figure of 422.5 million euros, in part due to work on major orders scheduled for several years in the Defense & Civil Systems segment. Net debt significantly cut On the back of a good free cash flow, Jenoptik reduced its net debt to one of its lowest ever levels as of December 31, 2015, despite continuing to finance its strong growth, the dividend payment and the payment to the last remaining silent real estate investor. At the end of 2015, net debt came to 43.9 million euros, thus less than half the figure in the prior year (31/12/2014: 104 million euros, including liabilities to silent real estate investors). Free cash flow improved significantly to 71.8 million euros (prior year 22.5 million euros). As a result of the earnings after tax, equity rose to 435.1 million euros (prior year 386.6 million euros). With a virtually unchanged balance sheet total (31/12/2014: 771.7 million euros), the equity ratio grew sharply to 56.6 percent (prior year 50.1 percent). In 2015, Jenoptik expanded its financing framework to create additional leeway for future organic growth and acquisitions. The total volume of the debenture loans issued in April 2015, including existing loans, increased from 90 to 125 million euros. March 2015 also saw the conclusion of a new syndicated loan agreement for 230 million euros (previously 120 million euros). “We took advantage of favorable conditions on the financial markets to secure financial flexibility at short notice in the future,” says Hans-Dieter Schumacher, CFO of JENOPTIK AG. In conjunction with a further rise in the equity ratio and strong cash flows, Schumacher sees this as a very good footing on which to finance scheduled future growth and new business opportunities. Minor increase in employee numbers abroad The number of employees (incl. trainees) at Jenoptik fell slightly in 2015, to 3,512 (31/12/2014: 3,553). The annual average number of employees (not that at December 31) rose to 3,421 (prior year 3,375). In the course of the internationalization strategy the number of employees abroad increased to 629 (31/12/2014: 617) or 17.9 percent of the entire workforce. Growth in revenue and earnings scheduled for 2016 The Jenoptik Group expects organic growth to generate revenue of between 680 and 700 million euros in 2016. This growth is due to be generated in the Optics & Life Science and Mobility segments. Following the increase in revenue and earnings seen in 2015, the Defense & Civil Systems segment is expected to develop at a stable rate. Group EBIT is also due to rise moderately; depending on revenue, the group EBIT margin will come in at between 9.0 and 9.5 percent. Acquisitions are not included in these forecasts but have not been ruled out for the current fiscal year. “A solid order and project pipeline will allow us to maintain our course, even in a challenging environment,” says Jenoptik President & CEO Michael Mertin with a view to the political and economic conditions. As he adds, these are increasing in complexity for all companies and are very difficult to forecast reliably – for example regulations at European level, turmoil on the financial markets, export restrictions, ongoing developments in China and the other BRIC countries and the conflicts in the Middle East and between Russia and Ukraine. Our medium-term planning remains unchanged: “By 2018, we aim to increase annual revenue to around 800 million euros – including smaller acquisitions – and achieve an average EBIT margin of around 9 to 10 percent over the market cycles. The share of revenue in our focus regions of the Americas and Asia/Pacific combined should then grow to over 40 percent of group revenue,” adds Michael Mertin.
Ingun's going global; expands in Latin America and Eastern Europe Benjamin Sontag (INGUN Prüfmittel GmbH) gave a short update on expansion plans in Latin America and Eastern Europe.
Yageo to acquire KEMET in a $1.8 billion deal Yageo Corporation and KEMET Corporation have entered into a definitive agreement under which Yageo will acquire all of the outstanding shares of KEMET’s common stock for USD 27.20 per share in an all-cash transaction valued at USD 1.8 billion.
EVG and DELO partner to expand materials and process capabilities Supplier of wafer bonding and lithography equipment for the MEMS and semiconductor industry, EV Group (eVG), is partnering with DELO, a manufacturer of industrial high-tech adhesives, in the area of wafer-level optics.
Osram recommends current takeover offer from ams Osram says it has concluded a business combination with Austrian chipmaker ams and is recommending its shareholders to accept the current takeover offer.
Sponsored content by NCAB Group Benelux B.V.Failure is not an option for a PCB More than 30% of the Gerbers NCAB Group Benelux B.V. reviews, have problems. However, the PCB are integrated in key end-user product with more and more High Tech PCB. We are here to support you on the new technologies growth to maintain a high reliability and quality. Contact us to review it together.
EpiWorld speeds up commercialisation of SiC devices with AIXTRON AIXTRON SE has provided an AIX G5 WW C system to EpiWorld International Co., Ltd for the further development of next generation silicon carbide (SiC) epitaxial wafers mainly used for the manufacturing of power devices for automotive applications.
FlexEnable makes acquisition for flex displays FlexEnable, developer of flexible organic electronics, has purchased Merck's portfolio of high-performance organic thin-film transistor (OTFT) materials.
Samsung’s CPU project ends, layoffs in CA and TX Samsung has confirmed in a letter to the Texas Workforce Commission that layoffs as a result of the closure of the CPU project at the Samsung R&D Center (SARC) in Austin, Texas and the San Jose Advanced Computing Lab (ACL) in San Jose, California, will begin December 31.
Marvell completes acquisition of Avera Semi Marvell has completed its acquisition of Avera Semiconductor, the Application Specific Integrated Circuit (ASIC) business of GlobalFoundries.
IAR Systems opens office in Taiwan Swedish IAR Systems, a supplier of software tools and services for embedded development, says the company is expanding in Asia with the opening of an office in Taipei, Taiwan.
ZF and Cree partners up to advance the electric drive ZF Friedrichshafen is teaming up with silicon carbide semiconductor specialist Cree, to create industry-leading, highly efficient electric drivelines.
Sponsored content by SourcengineComponent Aggregators vs E-Commerce Marketplaces What is the difference between electronic component aggregators and a marketplace?
67% of a buyer’s journey is now done digitally. Learn how marketplaces emerged as full-cycle procurement platforms and challenged the traditional component aggregators.
Broadcom completes acquisition of Symantec Enterprise Security business Semiconductor company Broadcom, says that the company has completed its acquisition of the Enterprise Security business of Symantec Corporation
AVX acquires Chengdu OK New Energy AVX Corporation says it has completed the purchase of Chengdu OK New Energy, Ltd. (COKNE).
Vesper names new SVP of worldwide sales & business development MEMS sensor company Vesper, announces that Lorenzo Ponzanelli has joined the company as senior vice president of worldwide sales and business development, overseeing sales strategy and execution to drive global growth.
Gigaphoton establishes new company in China Gigaphoton, a manufacturer of light sources used in semiconductor lithography, says it has established and started running the business of a new company – Gigaphoton China Inc. in China.
Sponsored content by Nordson ASYMTEKStart-to-finish conformal coating with reliability and efficiency Nordson ASYMTEK’s flexible, modular, Panorama™ S-Line delivers conformal coating process control in a space-saving footprint with overlapping line processes that minimize manufacturing floor space. This innovative, patent-pending line layout trims 50% of the line’s length by using the lower compartment in each piece of equipment for functional use. Combined with Nordson ASYMTEK’s global support, this complete conformal coating line delivers quality, product reliability, efficiency, and safety for all your conformal coating applications.
Prepare, adapt & overcome - how ‘to Brexit’ The looming, but yet unknown, effects of Brexit have forced companies to prepare for whatever may come. But how does one really prepare for unknown consequences?
Acal BFi signs pan-European agreement with Champs Technologies Acal BFi says it has added Champs Technologies to its magnetics portfolio. Acal BFi is a Europe-wide specialist technology supplier and design partner with a specialist portfolio of magnetic cores and inductive components products and services.
POET’s sale of DenseLight Semi to close POET Technologies Inc. announced the sale of its subsidiary, DenseLight Semiconductors Pte. Ltd. to DenseLight Semiconductor Technology (Shanghai) Co. Ltd. is scheduled to close on or before Friday, November 8, 2019.
Odyssey Semiconductor picks up wafer fab Ithaca, New York’s Odyssey Semiconductor Technologies, specializing in high-voltage power switching components and systems based on proprietary gallium nitride (GaN) processing technology, has acquired an integrated semiconductor design, fabrication, test, and packaging facility.
Sponsored content by EsemdaContract manufacturer Esemda opens new facility in Vilnius and expands EMS The new facility has been built with reserved space for future expansions. As Esemda constantly grows, it is of great importance to be able to rapidly increase production capacity in large volumes.
RBVC, Ford and BMW invests in flexible electric circuit start-up Robert Bosch Venture Capital GmbH (RBVC), the venture capital company of the Bosch Group, announces that it has completed a series B follow-on investment in CelLink Corporation.
Alex Davern to step down as CEO of National Instruments NI has announced that Alex Davern will step down as Chief Executive Officer of the company, effective January 31, 2020. The NI Board of Directors has appointed current President and COO, Eric Starkloff, as NI President and CEO, effective February 1, 2020.
RoodMicrotec takes leading role in APPLAUSE A consortium of 31 key players for packaging of electronics, optics and photonics, equipment suppliers and testing experts from 11 countries launched a new project, “Advanced packaging for photonics, optics and electronics for low cost manufacturing in Europe,” simply called APPLAUSE.Load more news