Carl Zeiss Meditec AG Starts New Fiscal Year 2017/18 With Solid Revenue Growth
Positive revenue trend in first quarter
Jena/Germany | 12 February 2018 | Carl Zeiss Meditec AG
Following on from its strong year-end results, Carl Zeiss Meditec AG continued its growth trend in the first quarter of 2017/18. Revenue increased by 5.3 percent (adjusted for currency effects: 9.5 percent), to €294.7m (prior year: €280.0m). Earnings before interest and taxes (EBIT) amounted to €38.9m; the adjusted EBIT margin was 13.5 percent (prior year: 13.4 percent).
Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG, had the following to say about results for the quarter: “Our Company remains on course for growth, with encouraging contributions from both strategic business units and all regions. Targeted investments in refreshing our product portfolio in the areas of Ophthalmology and Microsurgery and in our global presence are therefore paying off for us.”
Highest Growth Rate In Microsurgery SBU
he Ophthalmic Devices strategic business unit (SBU) increased its revenue by 4.2 percent in the first quarter of the current fiscal year (adjusted for currency effects: 8.2 percent), to €216.3m, compared with €207.6m in the same period of the prior year. This increase is attributable to all product areas – from ophthalmic diagnosis products through to lasers for refractive correction and intraocular lenses for cataract treatments, our business continued to grow.
Revenue in the Microsurgery SBU grew by 8.2 percent (adjusted for currency effects: 13.4 percent). Revenue from surgical microscopes and visualization solutions climbed to €78.4m, compared with €72.4m in the prior year.
Solid Growth In All Reporting Regions
Revenue in the EMEA region increased by 8.9 percent (adjusted for currency effects: 10.8 percent), resulting in total revenue of €91.2m (prior year: €83.7m). Business in the core markets of Germany and France developed well.
Revenue in the Americas region remained stable, increasing by 3.9 percent (adjusted for currency effects: 11.8 percent) to €94.1m (prior year: €90.5m).
Once again, there was a positive trend in the Asia/Pacific (APAC) region. At €109.5m, revenue was significantly higher than the prior-year figure of €105.8m – an increase of 3.5 percent (adjusted for currency effects: 6.6 percent). A large part of this growth is attributable to the Chinese market, as well as South Korea.
Earnings per share (EPS) amounted to €0.32, which was down slightly compared with the prior-year EPS of €0.38. This decrease is mainly due to the proceeds generated on the disposal of assets at the Ontario site, which were recognized in the first quarter of fiscal year 2016/17.
Carl Zeiss Meditec AG's objective for fiscal year 2017/18 continues to be to grow at at least the same rate as the underlying market. The EBIT margin is expected to be within the range also forecast for the medium term, of 14 to 16 percent on an adjusted basis.
Revenue By Strategic Business Unit
| Figures in €m |
3 Months 2017/18 |
3 Months 2016/17 |
Change from prior year | Change from prior year* |
|---|---|---|---|---|
| Ophthalmic Devices | 216.3 | 207.6 | +4.2% | +8.2% |
| Microsurgery | 78.4 | 72.4 | +8.2% | +13.4% |
| Total | 294.7 | 280.0 | +5.3% | +9.5% |
* adjusted for currency effects
Revenue By Region
| Figures in €m |
3 Months 2017/18 |
3 Months 2016/17 |
Change from prior year | Change from prior year* |
|---|---|---|---|---|
| EMEA | 91.2 | 83.7 | +8.9% | +10.8% |
| Americas | 94.1 | 90.5 | +3.9% | +11.8% |
| APAC | 109.5 | 105.8 | +3.5% | +6.6% |
| Total | 294.7 | 280.0 | +5.3% | +9.5% |
* adjusted for currency effects