Jenoptik raises 2026 outlook on strong first-half performance

Jenoptik AG increased its full-year outlook on Tuesday after posting stronger-than-anticipated first-half results, raising its 2026 guidance in the process.

The German industrial optics and photonics group reported a 15% rise in first-half revenue to €520 million, driven by demand in its automotive and semiconductor segments. Adjusted earnings before interest and taxes (EBIT) climbed 20% to €85 million, exceeding analyst estimates compiled by Refinitiv.

Chief Executive Officer Stefan Traeger cited robust order intake and improved operational efficiency as key drivers behind the outperformance. The company maintained its focus on high-margin projects, particularly in industrial automation and medical technology, which contributed to the margin expansion.

Jenoptik now expects full-year revenue to grow between 10% and 12%, up from its prior guidance of 7% to 9%. Adjusted EBIT is projected to rise 18% to 20%, an increase from the previous estimate of 12% to 15%. The company also reaffirmed its commitment to a dividend payout ratio of at least 30% of net profit.

Analysts at Jefferies noted that the upgraded outlook reflects Jenoptik’s resilience in a challenging macroeconomic environment, particularly in its core European markets. The brokerage maintained a hold rating on the stock but raised its price target to €42 from €38.

Shares in Jenoptik were up 3.2% in Frankfurt trading following the announcement, paring some of the year-to-date losses amid broader sector volatility.