ZEISS generates just under 90 percent of its revenue outside Germany, most of which is focused on the EMEA region (Europe, Middle East and Africa). In the first half of 2014/15 revenue in this area totaled EUR 739 million – two percent more than last year (EUR 711 million) on a like-for-like basis. In Germany revenue amounted to EUR 268 million, almost five percent above the previous year's figure (EUR 256 million).
Expenditure on research and development in the first half totaled EUR 221 million, around five percent more than in the comparable period last year (first six months of 2013/14: EUR 211 million). This figure includes the investments in EUV lithography, the future-oriented technology for the production of microchips.
During the reporting period ZEISS invested EUR 58 million in property, plant and equipment, nine million less than the prior year (first six months of 2013/14: EUR 67 million). These investments compare to depreciations totaling EUR 74 million (first six months of 2013/14: EUR 71 million).
On 31 March 2015 net liquidity amounted to EUR 288 million, over 100 million more than the figure posted at the end of fiscal year 2013/14 (30 September 2014: EUR 187 million).
Free cash flow totaled EUR 165 million (first six months of 2013/14: EUR 101 million). At EUR 1.092 billion, the company's equity decreased by around 13 percent over the year-end figure for fiscal 2013/14 (30 September 2014: EUR 1.249 billion). "The drop in equity and the decrease in the equity ratio to 20 percent – despite the almost three-digit figure reported for consolidated earnings – is the direct result of the disproportionately large increase in pension provisions due to the continuing low level of interest rates," says Chief Financial Officer Thomas Spitzenpfeil.