Jenoptik reports boom in orders and earnings in first half of 2026

Reporting its financial results from trading in the first six months of 2026, diversified photonics company Jenoptik said there had been strong order intake momentum, particularly in the OEM businesses, that revenue was slightly above the same period in 2025 and, most notably, that “profitability has significantly improved.”

“In the first half of the year, we saw particularly strong demand, especially in our OEM businesses, which focus on the semiconductor equipment, medical technology, life sciences and defense end markets. As this development was partly driven by some major orders, this very strong momentum may not continue in the second half of the year,” said Dr. Ralf Kuschnereit, CTO and COO of the firm.

Dr. Prisca Havranek-Kosicek, CFO, added, “Nevertheless, we expect 2026 to become a successful year for Jenoptik and have accordingly specified our guidance to the upper half of the previous range,” commented.

Revenue slightly up

The photonics group Jenoptik achieved revenue of €503.2 million (M) in the first half of 2026, representing an increase of 1.0 percent compared with the same period last year (€498.4M). The Strategic Business Unit (SBU) Semiconductor & Advanced Manufacturing recorded revenue of €230.4 M in the first half of 2026, up 10.2 percent (€209.1 M), driven by stronger business both in the lithography and inspection areas of the semiconductor equipment industry.

The SBU Biophotonics generated higher revenue in the defense sector during the reporting period, while the strong revenue of the prior year could not be reached in the medical technology business, as expected. Consequently, revenue of the SBU Biophotonics of €113.9 M was 4.5 percent lower (€119.2 M).

The SBU Metrology & Production Solutions recorded revenue of €79.7 M, significantly down (€92.0 M), partly due to the continuing difficult market situation in the automotive industry. By contrast, the SBU Smart Mobility Solutions increased its revenue by 10.7 percent to €68.3 M (€61.7 M).

Profitability improved

The Group’s EBITDA (pre-tax earnings) improved in the first six months of 2026 to €98.9 M, an increase of 25.5 percent (€78.8 M in H1, 2025). Improved capacity utilization in the SBU Semiconductor & Advanced Manufacturing, in addition to the cost-cutting measures implemented in 2025 and a changed product mix, represented the main earnings driver in the reporting period. EBITDA margin reached 19.7 percent accordingly (15.8 percent).

Group earnings after tax came in at €39.7 M (€25.3 M), including income from discontinued operations of €2.6 M. Earnings per share amounted to €0.69 (€0.42).

Strong order intake dynamics, particularly in the OEM businesses

The Group’s order intake improved significantly in the first half of the year, rising by 53.0 percent to €723.4 M (€472.7 M), primarily due to strong momentum in the OEM businesses, the company said. Order intake of the SBU Semiconductor & Advanced Manufacturing rose by 85.3 percent due to strong demand in both the lithography and inspection businesses.

The SBU Biophotonics also recorded a significantly higher order intake, up 44.9 percent, driven by the defense as well as medical technology & life science sectors. This, however, includes a multi-year major medical technology order in the low double-digit M-euro range, which was booked in the second quarter.

Guidance for 2026

Looking ahead, Jenoptik stated, “The outlook for 2026 remains affected by significant market uncertainties due to macroeconomic and political developments that are difficult to predict. The Executive Board now expects revenue growth for the fiscal year 2026 to be in the upper half of the previous guidance range (previously: single-digit percentage range in 2025: €1,046.0 M).”

The Executive Board also expects the EBITDA margin to reach the upper half of the previously guided range of 19.0 to 21.0 percent, i.e. between 20.0 and 21.0 percent (2025: 18.4 percent). Despite the significant decline in the first half of 2026, the Executive Board anticipates that capital expenditure will be slightly below the previous year’s level of €77.4 M for the full year. In particular, capacity for optics at the Jena site is set to be expanded.