JENA (dpa-AFX) - German optoelectronics company Jenoptik AG (JNPKF.PK) said that its Group EBIT for fiscal 2017 rose 17.6 percent to 77.8 million euros from 66.2 million euros last year. The EBIT margin improved to 10.4 percent from 9.7 percent in the prior year.
Earnings before interest, taxes, depreciation and amortization or EBITDA grew 12.5 percent to 106.7 million euros from 94.7 million euros last year.
The Group's revenue for the year grew 9.2 percent to 747.9 million euros from 684.8 million euros in the prior year, with growth seen in the Optics & Life Science and Mobility segments.
The group order intake rose to 802.9 million euros from last year's 733.8 million euros.
The company also noted that its free cash flow was 72.2 million euros, compared to the prior year's 80.4 million euros.
The Executive and Supervisory Boards of Jenoptik will propose an increased dividend payment of 0.30 euros per share, compared to the prior year's 0.25 euros, for the 2017 fiscal year to the Annual General Meeting on June 5, 2018.
Subject to shareholder approval, the payout ratio based on earnings attributable to shareholders will be 23.7 percent for a dividend payment of 17.2 million euros, compared to last year's 24.9 percent.
For fiscal 2018, Jenoptik's Executive Board confirmed its original growth target, aiming for revenue to be between 790 million euros and 810 million euros. The EBIT margin for the year is now projected in a range between 10.5 percent and 11.0 percent, up versus prior forecast of around 10 percent.
By 2022, the company expects revenue to increase in the mid-to-high single-digit percentage range per year on average. The company noted that the EBITDA margin will also improve to around 16 percent by 2022.
The company said it wants to increase its R+D output to around 10 percent of revenue by 2022 and that its new strategy 2022 has a stronger focus on photonic technologies in all of its initiatives and developments. In addition, at least one division will have its headquarters outside of Germany by the year 2022.
As one of the first steps in implementing the new strategy under the headline of 'More Light,' Jenoptik said it will develop the divisions' strategic roadmaps and implement an active portfolio management in 2018. Business in Asia will be reorganized in 2018, and the mechatronics business managed under an independent brand.
Copyright RTT News/dpa-AFX