Operator
Good morning, ladies and gentlemen, and welcome to the Jenoptik conference call regarding the results of the first quarter of 2026. [Operator Instructions]
Let me now turn the floor over to your host, Dr. Prisca Havranek.
Prisca Havranek-Kosicek
CFO & Member of the Executive Board
Good morning, everyone, and welcome to our Q1 2026 results call. I will lead you through our presentation. And then as always, Andreas, our Head of Investor Relations, and I will be open for your questions.
Now let me begin with an overview and some key messages on Page 4 of our slide deck. First of all, I’m very pleased to report that order intake was very strong for our OEM businesses in the first quarter, as we already indicated on our previous call at the end of March. Ramp-up in the semi industry seems to be in full swing now, hence, demand for our semi equipment customers was particularly strong. But also order intake in our biophotonics business unit was substantially up compared to last year.
Revenues for the quarter were slightly down year-on-year as we expected and I had indicated on our last call. We are also pleased, I can say, with the evolution of our profitability in terms of EBITDA margin in Q1. Noting, however, as you know, that Q1 does not represent a modest comp if you look at last year. Free cash flow in Q1 was down year-on-year, reflecting higher working capital needs in conjunction with our accelerating order intake.
Now
