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Investing.com -- Jenoptik AG (ETR:JENG) on Wednesday reported mixed third-quarter results on Wednesday while reaffirming its 2025 guidance, though both revenue and EBITDA margin are expected to be at the lower end of the forecast range.
The German technology company posted Q3 sales of €254.8 million, down 7.1% year-over-year, falling 4% below the consensus estimate of €266 million. The decline was primarily driven by weaker performance in the Advanced Photonic Solutions and Metrology & Production Solutions businesses.
Q3 EBITDA came in at €53 million, representing a 10.4% year-over-year decrease, with a margin of 20.8% compared to 21.6% in Q3 2024. Despite the decline, this figure beat consensus expectations of €49.7 million by 7%.
Order intake showed particular strength at €304.5 million, exceeding consensus estimates of €264 million by 15%. The book-to-bill ratio improved to 1.20 in Q3, up from 0.94 in the prior year, while the order backlog stands at €658.9 million, surpassing consensus expectations of €605 million.
Free cash flow before interest and taxes increased from €62.3 million to €84.6 million during the first nine months of 2025, driven by lower working capital requirements and reduced investment activity.
Jenoptik maintains a solid financial position with an equity ratio of 59.1% (up from 55.6% at the end of 2024), net debt of €366 million (down from €395.5 million), and a leverage ratio of 1.9x (compared to 1.8x at the end of 2024).
Looking ahead to 2026, management expects revenue growth and margin improvement, supported by positive momentum in semiconductors and significant data center investments, though risks remain around demand recovery timing and macroeconomic conditions.
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