Jenoptik terminates business with mid format cameras

[Michael Fontana]

Press release from Jenoptik:
"Jena, 29. Juli 2009

A positive group operating result before one-off effects is expected both for the 2nd quarter as well as for the full year 2009.

As a result of the insolvency of the supplier Franke & Heidecke plus the significant deterioration in the business potential for mid format cameras (high-end), the Group has decided to withdraw from this sustainably negative business, and to carry out the associated reorganization of its locations and portfolios at home and abroad. Existing supply commitments have been terminated by mutual agreement with the customer.

With this measure Jenoptik is continuing to focus on its core business areas. In the short term however it will affect 2nd quarter earnings. The resultant one-off effects, most of which will be non-cash due to impairments, total 7.9 million euros and were completely included in the Group EBIT in the 2nd quarter 2009. The Group EBIT before this one-off effect in the 1st half 2009 will be positive at about 3 million euros (March 31, 2009: 0.4 million euros). This sum includes current losses of this business area of about 1 million euros, which will not arise again in the future.

The market for high-end camera modules has been hit very hard by the current economic environment and is having a negative effect on the business development of the market participants. This is also affecting Jenoptik which has consequently decided to withdraw from the mid format camera business.

The mid format camera business is concentrated within the Swiss company SINAR AG. SINAR AG will continue to provide in full warranty and after-sales services for mid format camera system and market professional analog and digital specialist camera solutions. The business of SINAR AG will be continued outside Jenoptik.

Jenoptik's digital imaging activities to continue in full

The topic of digital image processing is and will remain one of Jenoptik's core compentencies for the areas of medical technology, life sciences and traffic safety technology through to military reconnaissance. Jenoptik will continue and expand these activities.
Anticipated positive Group operating result before one-off effects in 2009.

As a result of the stable contribution from the Defense & Civil Systems division and its presence in various markets, Jenoptik anticipates a positive group operating result before one-off effects in the full year 2009.

The Jenoptik Group will publish the detailed figures for the 2nd quarter and 1st half 2009 on August 13, 2009."


I'm seduced to say that I expected it. Jenoptik gets rid of Sinar and the Hy-6 - Sinar might have a Management-Buy-Out - who will produce the Sinar backs in the future?
Hopefully, Sinar will find some calmer waters.

[Michael Fontana]

Leica shows prizes for the S-2, which will be delivered from October 09:

Leica S2 Black £15,996
Leica S2-P Black * £19,092
SUMMARIT-S 1:2.5/70 ASPH £3,096
SUMMARIT-S 1:2.5/70 ASPH CS £4,025
APO-TELE-ELMAR-S 1:3.5/180 £4,541
APO-TELE-ELMAR-S 1:3.5/180 CS £5,160
APO-MACRO-SUMMARIT-S 1:2.5/120 £4,541
APO-MACRO-SUMMARIT-S 1:2.5/120 CS £5,160
SUMMARIT-S 1:2.5/35 ASPH £3,612
SUMMARIT-S 1:2.5/35 ASPH CS £4,231
Multifunction handgrip S £851
Professional battery charger S £258

* Includes Sapphire Glass monitor screen and S-Body Platinum Service (more details to follow)
CS = Central Shutter Lens
Prices include VAT at 15%, 30 July 2009

[Bart_van_der_Wolf]

Originally Posted by Michael Fontana

The mid format camera business is concentrated within the Swiss company SINAR AG. SINAR AG will continue to provide in full warranty and after-sales services for mid format camera system and market professional analog and digital specialist camera solutions. The business of SINAR AG will be continued outside Jenoptik.

Jenoptik's digital imaging activities to continue in full

The topic of digital image processing is and will remain one of Jenoptik's core compentencies for the areas of medical technology, life sciences and traffic safety technology through to military reconnaissance. Jenoptik will continue and expand these activities.

So, no new development on the Hy6 body, but the Sinar backs are not involved (not directly anyway). Indeed, a (management) buy-out might breathe new life in the Hy6 production, but a take over (to acquire patents?) by another camera manufacturer seems more likely. Only producing the Hy6 body doesn't seem like a viable business model, and outsourcing that will increase cost.

I'm not sure wether Sinar developed its own Raw-converter software, or whether it was done by Jenoptik, but that also seems to survive.

Bart

[Nicolas Claris]

Originally Posted by Bart_van_der_Wolf

I'm not sure wether Sinar developed its own Raw-converter software, or whether it was done by Jenoptik, but that also seems to survive.

Bart

Afaik, eXposure is developed by Sinar AG.

Otherwise, these are bad news for this excellent camera and back.

[Asher Kelman]

If there was no war on terror and disease, Jenoptik would become more creative and lower production costs.

Asher

[Nicolas Claris]

Originally Posted by Asher Kelman

If there was no war on terror and disease, Jenoptik would become more creative and lower production costs.

Asher

Terribly true…
But we can't complain Jenoptik to work on medical imagery!

[Nicolas Claris]

Intersting the 2 posts of Michael, one about Jenoptik and the other about Leica… I wonder how they will be, say, next year?
Maybe dentists and rich amateurs will make their market! but don't get me wrong, I would love to test the S2… who would not!?!

[Asher Kelman]

Originally Posted by Nicolas Claris

Intersting the 2 posts of Michael, one about Jenoptik and the other about Leica… I wonder how they will be, say, next year?
Maybe dentists and rich amateurs will make their market! but don't get me wrong, I would love to test the S2… who would not!?!

Nicolas,

First we should remember that physicians and dentists do need to take photographs of their patients so it's easy to "justify" to the government tax authorities the huge expense. So in that case, the government will pay for 60% of the camera's huge cost! It will last many years and will "need" the finest lenses!

The 1Ds III simply doesn't consume enough money for some!

Also, Leica is a brand for serious collectors. This is especially true in Japan where mint Leicas are treasured like jewels.

It could be that some will go into space or be used my the military if the lenses are as good as expected. So there may be enough of these to go ahead of Phase One and Lead. Having a Leica will always turn heads. Frankly, I'd love one too. I must admit, I'd be happy to even use one with just one lens for one month! I'd cancel everything else, book my models and go the the forrest!

Asher

[Michael Fontana]

Bonjour Nicolas

well, I saw the two messages about Jenoptic and the S-2 in the same 5 minutes, for sure a coincidence, but I found it ok to put them in one thread, which could have a better title, like the futur of MFbacks.

Does anyone knows the amount of MFbacks build/sold in a year? I don't think that the market is to big, while some photographers might have alternatives, like stitching, or just don't require that big end sizes.

As for Leica I think it depends much how mature the cam will be; there shouldn't be these infrared-issues as with the M8..... if the files deliver really nice images in terms of IQ, combined with a DSLR-like way of shooting and smooth workflow, I see a potential apart from the collectors.

Leica has proved to build lenses with character - lenses are still a important thing for a photographer.

[edwin blenkinsopp]

Originally Posted by Michael Fontana

Press release from Jenoptik:
"Jena, 29. Juli 2009

who will produce the Sinar backs in the future?

Kodak or Dalsa made the main bits so
I dont think that its a problem to get things made.
Sinar alone has survived as a european manufacturer unlike Hasselblad etc
The flexibility and range of Sinar systems and components is without comparison
I answered a question 'in the other place' and looked at the range of cameras the
Emotion 75 LV is designed to fit with and it ranges from old to new, mf to studio rostrum camera systems which is enormously more than any other manufacturer.
I view the future with lots of optimism


Edwin