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Record revenue: ZEISS concludes fiscal year for the first time with revenue over 10 billion

ZEISS Group revenue has risen to over 10 billion euros (10.108 billion euros) for the first time in the company's history (up 15% compared to the prior year) - EBIT at 1.7 billion euros (up 98 million euros compared to the prior year). ZEISS is investing record sums in research & development (R&D), infrastructure and the transformation of the company.

    • Exceptional growth with contributions from all four segments
    • Expenditure in research and development amounted to 15% of revenue
    • Around 43,000 employees globally, up 11% on the prior year
    • Around 3.5 billion euros in investments in infrastructure planned for the next 5 years worldwide - around 3 billion of which to be invested in Germany
    • Transformation into a data- and process-driven organization
    Oberkochen, Germany | 19 December 2023 | ZEISS Group
     

    The ZEISS Group was able to continue its dynamic revenue growth with a growth rate at the very high level of the prior year. In fiscal year 2022/23 (reporting date: 30 September 2023), revenue rose to over 10 billion euros for the first time in the company's history (prior year: 8.8 billion euros, up 15%). Earnings before interest and taxes (EBIT) were also up on the previous year at 1.7 billion euros (prior year:1.6 billion euros). All four segments of the ZEISS Group contributed to this growth despite the challenging market environment.

    "We can look back on another very successful fiscal year. To be able to continue on this dynamic growth path in the future, we need to set the right course now. We are doing this by investing huge sums in our further development", said Dr. Karl Lamprecht, President and CEO of ZEISS. "Our success is based on our distinctive innovative strength. To ensure this continues, we have invested 15% of revenue in research and development, personnel development and infrastructure – more than ever before."

    Segment development

    Revenue (in million euros)

    2022/23

    2021/22

    Change
    (adjusted for currency effects)

    Semiconductor Manufacturing Technology

    3,555

    2,757

    +29% (+29%)

    Industrial Quality & Research

    2,295

    2,066

    +11% (+13%)

    Medical Technology*

    2,504

    2,251

    +11% (+14%)

    Consumer Markets

    1,624

    1,569

    +4% (+5%)

    * Not identical to the Carl Zeiss Meditec Group

    All four ZEISS segments are contributing to growth and the market environment, which can be difficult at times, affects them all in very different ways.

    The Semiconductor Manufacturing Technology segment once again achieved an exceptionally high revenue rate despite natural fluctuations in the semiconductor technology market. The overall business from segments from lithographic optics to photomasks, has developed positively.
    The high demand for lithography systems for deep ultraviolet (DUV) and extreme ultraviolet (EUV) as well as the first delivery of the optical system for High-NA technology to our customer and strategic partner ASML contributed to growth. In the future, the next EUV generation, High-NA EUV, will enable the production of more powerful and more energy-efficient chips at lower cost.

    The Industrial Quality & Research segment also achieved significant double-digit growth. The increasing momentum in both strategic business areas, industrial quality assurance and the microscopy systems business contributed to this. The strong trend from the first half of the year reasserted itself in the area of industrial quality assurance. The diversified portfolio (coordinate measuring machines, optical solutions and software) contributed to the overall success. Growth is expected in the coming fiscal year as a result of forward-looking projects in energy technology and electromobility. Business from microscopy systems for research and science benefited from positive impetus from the pharmaceutical industry and government funding for research in the field of life sciences, among other things.

    The ZEISS Medical Technology segment also achieved a significant double-digit increase in revenue in fiscal year 2022/23 and increased its market share. In addition, the stabilization of supply chains, particularly in the second half of the fiscal year, and accelerated deliveries in the areas of ophthalmology and microsurgery made a positive contribution to revenue growth. In the EMEA and AMERICAS regions, revenue growth rates were in the double digits. Revenue in APAC showed a very positive development. Strategic investments and the continued structural optimization of the segment are expected to lay the foundation for further growth in the upcoming fiscal year.

    The Consumer Markets segment also closed fiscal year 2022/23 with good revenue growth. High inflation and the associated uncertainty among consumers have affected the market environment and consumer climate and caused a reluctance to spend. In the strategic Vision Care segment, growth was achieved through innovations in branded ophthalmic lenses and eye health as well as the expansion of the digital consumer journey. Growth stimuli came in particular from the APAC and EMEA regions. In Consumer Products, the subdued mood among retailers and consumers as well as price competition had an impact on the result. The strike during film productions in Hollywood over several months affected the cine lens business. ZEISS technologies for smartphone photography have nevertheless increased in popularity. There are slightly positive signals for the coming fiscal year, for example through innovations, additional market development and expansion of the product portfolio for movie and camera lenses, sports and nature obeservation optics.

    Key figures

    As of balance sheet date (30 September 2023), group equity amounted to 7.846 billion euros (prior year: 7.173 billion euros), which corresponds to an equity ratio of 52% (prior year: 55%) with an increase in total assets.

    All regions contributed to the growth in revenue although APAC demonstrated the most dynamic growth. This region generated significant growth in revenue at 11%. The AMERICAS and EMEA regions also recorded revenue growth and once again contributed to the positive development of ZEISS.

    ZEISS is bigger than ever with around 43,000 employees. The ZEISS Group employed 42,992 employees worldwide at the reporting date of 30 September 2023 (prior year: 38,770 employees). The number of employees therefore increased as of 30 September 2022 by around 11% year on year.

    Dr. Karl Lamprecht, CEO Carl Zeiss AG

    Dr. Karl Lamprecht, CEO of Carl Zeiss AG

    "ZEISS is bigger than ever and continues to grow. As such, almost 18,000 new employees have joined the company in the past seven years alone", said Lamprecht. "We are expanding our capacity and therefore investing around 3.5 billion euros over the next five years in infrastructure - more than ever before. A large proportion of this will flow into infrastructure projects specifically in Germany, such as the further expansion of the Oberkochen site, a new site in Aalen-Ebnat or the site of the company’s foundation in Jena."

    The ZEISS Group continues to rely on its distinctive innovative strength. At 15% of revenue, ZEISS spent a record sum of 1,545 million euros on research and development in the past fiscal year (prior year: 1,151 million euros). In the ZEISS Group's research and development departments, more than 6,200 employees work every day to further expand the company's investment power. This is reflected in the number of patents retained which totaled around 11,300 worldwide as of the reporting date.

    The innovations in all four segments perform pioneering work in digitalization. ZEISS develops solutions for semiconductor manufacturing technology which allows chip manufacturers all over the world to produce ever smaller, more powerful and energy-efficient storage microchips. From vision care via photography through to microscopy, metrology, and medical technology, ZEISS is developing solutions for the digital world. One of the most important achievements of digitalization is artificial intelligence (AI). Current devices and software solutions from ZEISS already contain AI components or have been manufactured with them. There is also a major focus on topics such as intelligent data use or advanced machine learning methods.

    "In order to continue to grow profitably in the long term and, at the same time, be resilient in rapidly changing times, ZEISS must continue to develop", concludes Lamprecht. "In addition to enormous innovative strength, this comprehensive development includes the transformation towards a data and process-driven company. Now is the right time to press ahead at full speed."

    Outlook

    The business environment is becoming increasingly challenging. Risks are arising from the dynamics of the geopolitical situation which are hard to predict, the growing complexity (e.g. due to increased regulatory requirements) and the changing global economic cycles. This leads to a more difficult market environment.

    "Success in the future depends on us continuing to keep an eye on the various risks while, at the same time, realizing our potential and maximizing every opportunity. We are confident that we will not only continue to develop but also grow in line with our strategic agenda and transformation activities. We therefore assess the ZEISS Group's business development for fiscal year 2023/24 as being positive", Lamprecht concluded.

     

    Further information

    Press contact

    Jörg Nitschke

    Head of Corporate Brand, Communications and Public Affairs
    ZEISS Group

    About ZEISS

    ZEISS is an internationally leading technology enterprise operating in the fields of optics and optoelectronics. In the previous fiscal year, the ZEISS Group generated annual revenue totaling 10 billion euros in its four segments Semiconductor Manufacturing Technology, Industrial Quality & Research, Medical Technology and Consumer Markets (status: 30 September 2023).

    For its customers, ZEISS develops, produces and distributes highly innovative solutions for industrial metrology and quality assurance, microscopy solutions for the life sciences and materials research, and medical technology solutions for diagnostics and treatment in ophthalmology and microsurgery. The name ZEISS is also synonymous with the world's leading lithography optics, which are used by the chip industry to manufacture semiconductor components. There is global demand for trendsetting ZEISS brand products such as eyeglass lenses, camera lenses and binoculars.

    With a portfolio aligned with future growth areas like digitalization, healthcare and Smart Production and a strong brand, ZEISS is shaping the future of technology and constantly advancing the world of optics and related fields with its solutions. The company's significant, sustainable investments in research and development lay the foundation for the success and continued expansion of ZEISS' technology and market leadership. ZEISS invests 13 percent of its revenue in research and development – this high level of expenditure has a long tradition at ZEISS and is also an investment in the future.

    With around 43,000 employees, ZEISS is active globally in almost 50 countries with around 30 production sites, 60 sales and service companies and 27 research and development facilities (status: 30 September 2023). Founded in 1846 in Jena, the company is headquartered in Oberkochen, Germany. The Carl Zeiss Foundation, one of the largest foundations in Germany committed to the promotion of science, is the sole owner of the holding company, Carl Zeiss AG.

    Further information at www.zeiss.com

    Press photos

    • Dr. Karl Lamprecht

      CEO of Carl Zeiss AG

      Pages: 1
      File size: 2 MB
    • Dr. Karl Lamprecht

      CEO of Carl Zeiss AG

      Pages: 1
      File size: 9 MB
    • Executive Board of Carl Zeiss AG

      The Members of the Executive Board of Carl Zeiss AG

      Pages: 1
      File size: 3 MB
    • High-NA-EUV lithography

      ZEISS SMT develops so-called optics with a larger aperture angle (NA=numerical aperture) for High-NA-EUV lithography. The resolution is thus significantly improved once again – and the transistor density on microchips increases by a factor of three. This further perpetuates Moore's Law.

      Pages: 1
      File size: 1 MB
    • ZEISS Quality Suite

      Digital Ecosystem for measurement technology and quality assurance.

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      File size: 1 MB
    • ZEISS AT ELANA 841P

      Optimization of the ZEISS Premium Cataract Workflow with trifocal IOL.

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      File size: 644 KB
    • ZEISS VISUCORE 500

      Subjective and objective refraction in one unit.

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      File size: 2 MB
    • Expansion of infrastructure

      ZEISS makes targeted investments in the expansion of infrastructure. ZEISS has invested and will invest over 3 billion euros in total over the next five years in infrastructure worldwide.

      Pages: 1
      File size: 2 MB