Q2 2024 Jenoptik AG Earnings Call Transcript
Key Points
- Jenoptik AG (JNPKF) reported a strong Q2 with a 16.7% quarter-over-quarter order intake growth, indicating a positive demand trend.
- Sales increased by more than 11% quarter-over-quarter and over 5% compared to Q2 2023, showing robust revenue growth.
- The construction of the new fab in Dresden is on schedule, which is crucial for meeting demand in the semiconductor manufacturing segment.
- The company confirmed its guidance for mid-single-digit sales growth and an EBITDA margin of 19.5% to 20% for the fiscal year.
- Jenoptik AG (JNPKF) experienced a significant improvement in profitability, with group EBITDA reaching EUR101.4 million and a margin increase of 70 basis points.
- Order intake for the first half of the year was down by 4% year-over-year, indicating some challenges in maintaining consistent demand.
- The book-to-bill ratio fell slightly below 1, driven by subdued demand in the optical test and measurement business and certain life science applications.
- The Smart Mobility segment experienced a decline in revenues due to the lumpiness of the project business and missing orders.
- The EBITDA margin for the APS division was below last year's level, raising concerns about profitability in this segment.
- The company faces potential headwinds from labor cost inflation due to the next step of the union tariff agreement.
Good morning, ladies and gentlemen, and welcome to the Jenoptik conference call regarding the results of the first half year of 2024. (Operator Instructions) Let me now turn the floor over to your host, Dr. Stefan Traeger. Please, the floor is yours.
Thank you, very much and a very warm welcome from Vienna to everybody out there. With me today, as always, is Prisca Havranek-Kosicek, our CFO, and we're more than happy to present you the results of Jenoptik in Q2 or H1, combined the first two quarters.
Second quarter actually has been a very good quarter for Jenoptik. We're very pleased with the development. By and large, all our KPIs are developing in the right direction. And we're particularly pleased to report that demand picked up as anticipated.
We saw a Q2 order growth quarter-over-quarter versus the first quarter 2024 of almost 17% -- 16.7% quarter-over-quarter earnings, order intake growth versus the Q2 of last year, the order intake grew by 7%
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