Successful start to fiscal year 2019/20 for Carl Zeiss Meditec with profitable growth

Jena/Germany | Carl Zeiss Meditec AG

Carl Zeiss Meditec generated revenue of €369.7m in the first three months of fiscal year 2019/20, which corresponds to an increase of 14.2% (adjusted for currency effects: +12.7%) compared with the prior-year period (prior year: €323.6m). Both strategic business units achieved significant increases in revenue. Earnings before interest and taxes (EBIT) rose as a result of the increase in revenue, to €56.8m (prior year: €48.1m). The EBIT margin increased further, to 15.4% (prior year: 14.9%).

“We have made a successful start to the new fiscal year and can report encouraging growth in all business segments. Both our traditional equipment business and our consumables business made outstanding contributions to this,” says Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG.

The strategic business unit (SBU) Ophthalmic Devices increased its revenue by 12.5 percent after the first three months of fiscal year 2019/20 (adjusted for currency effects: +11.1 percent), to €269.4m (prior year: €239.5m).
Revenue in the Microsurgery SBU grew by 19.1 percent (adjusted for currency effects: +17.4 percent), to €100.3m (prior year: €84.2m).

Revenue in the EMEA region grew by 7.0 percent (adjusted for currency effects: +6.9 percent), to €110.7m (prior year: €103.5m). The core markets Germany and France achieved good revenue growth.

The Americas region increased its revenue by 18.5 percent after the first three months of the current fiscal year (adjusted for currency effects: 15.5 percent), to €109.0m (prior year: €91.9m). High contributions to growth came from the USA, as well as positive impetus from Latin America.

The APAC region also achieved further growth of 16.9 percent (adjusted for currency effects: +15.5 percent), to €150.0m (prior year: €128.2m). Countries such as China and South Korea once again made the strongest contributions to growth. The Japanese market also recorded good demand.

The operating result (earnings before interest and taxes: EBIT) increased significantly in the first quarter of fiscal year 2019/20, reaching €56.8m (prior year: €48.1m). The EBIT margin increased from 14.9 percent to 15.4 percent. Adjusted for special effects, this resulted in an increase to 15.7 percent (prior year: 15.1%). The earnings pro share increased to € 0.43 (previous year: € 0.32).

“In fiscal year 2019/20, we anticipate revenue growth that is at least in line with our markets. In terms of the development of earnings, we expect to achieve an EBIT margin of between 17% and 19% in the current fiscal year” says Dr. Monz, confirming the outlook published in December 2019.