Micro-Optics Fab Commissioned (Dresden)
Brought largest single investment — new micro-optics fab in Dresden — online, providing capacity to support future growth in micro-optics for data communication and AI-driven demand.
Biophotonics Strong Growth
Order intake up ~19% year-on-year and revenue increased ~10% driven by defense and life science applications; EBITDA margin improved to >20%, reflecting better utilization and favorable product mix.
Smart Mobility Traction and Margin Expansion
Revenue up almost 9% in 2025 with mid-single-digit order intake growth; margin improved by >200 basis points to 13.6%, aided by U.S. go-to-market expansion and service footprint.
Semiconductor Inspection Momentum and Resilient Margins
Inspection business delivered strong customer activity and revenue growth despite lithography weakness; semi business retained a robust full-year EBITDA margin of ~26% (and ~29% for Q3+Q4), showing resilience.
Improved Cash Generation and Balance Sheet Strength
Operating cash flow (pre-tax) improved considerably and free cash flow rose by nearly EUR 50 million, enabling significant debt and leverage reduction; CapEx normalized and expected slightly below prior year.
Cost Efficiency and Headcount Reduction
Implemented an efficiency/cost reduction program and leaner organization, reducing FTE headcount by almost 5% year-on-year, contributing to margin protection and cash generation.
Positive 2026 Guidance
Management expects 2026 revenue to be up in the single-digit percentage range and an EBITDA margin of 19%–21%, indicating confidence in returning to profitable growth despite market uncertainties.
Incremental Shareholder Return
Proposed dividend increased to EUR 0.40 for fiscal 2025 (vs EUR 0.38 prior year), signaling commitment to returning cash to shareholders.