Publication of insider information pursuant to
Art. 17 MAR
Carl Zeiss Meditec AG continues its growth after nine months 2020/21 and raises targets for fiscal year
Jena, Germany | 16 July 2021 | Carl Zeiss Meditec AG
Carl Zeiss Meditec AG (ISIN: DE0005313704) has achieved revenue of EUR 1,198.2 million after nine months of fiscal year 2020/21 (past year: EUR 967.9 million). This corresponds to a revenue development of +23.8% vs. the past year (after adjustment for currency effects1: +27.6%). In the third quarter of FY 2020/21, revenue amounted to EUR 430.8 million (past year: EUR 253.0 million) – a growth rate of +70.3% (after adjustment for currency effects: +75.3%) against the previous year’s period which had been heavily impacted by the COVID-19 pandemic. Revenue benefitted from a rise in recurring revenues as well as a further recovery in demand for equipment.
Earnings before interest and taxes (EBIT)2 amounted to EUR 282.8 million after nine months of FY 2020/21 (past year: EUR 111.9 million). EBIT margin (EBIT / revenue) was 23.6% (past year 11.6%). In the third quarter of FY 2020/21, EBIT amounted to EUR 120.1 million (past year: EUR 9.4 million). EBIT margin was 27.9% (past year: 3.7%). EBIT benefitted from a favorable development of product mix with a high share of recurring revenue. In addition, the ongoing low level of sales and marketing expenses as a result of the COVID-19 pandemic contributed to EBIT compared to the past year.
Earnings per share (EPS)3 amounted to EUR 2.04 (past year: EUR 0.77) for nine months of FY 2020/21. In the third quarter, EPS amounted to EUR 0.91 (past year: EUR 0.06).
Full results for nine months 2020/21 will be published on August 6, 2021.
In light of the positive business development, the company is raising targets for the current fiscal year 2020/21: revenue is expected to exceed the previous forecast of approximately EUR 1.6 billion (past year: EUR 1,335.5 million). EBIT margin for fiscal year 2020/21 is projected to significantly exceed the previous forecast of approximately 20% (past year: 13.3%), with strong support from lower than usual sales and marketing expenses in the current year.
1) Currency-adjusted revenue growth is determined by weighing sales in the comparative period with current instead of actual historical exchange rates.
2) Earnings before interest and taxes (also operating profit, EBIT) refers to a key earnings figure within the Carl Zeiss Meditec Group and is calculated in accordance with IFRS standards (see Annual Report 2019/20, p. 78 for reconciliation).
3) Earnings per share (also EPS) refers to a key earnings figure within the Carl Zeiss Meditec Group and is calculated according to IFRS standards (see Annual Report 2019/20, p. 78 for reconciliation).
Carl Zeiss Meditec AG (ISIN: DE 0005313704), which is listed on the MDAX and TecDAX of the German stock exchange, is one of the world’s leading medical technology companies. The Company supplies innovative technologies and application-oriented solutions designed to help doctors improve the quality of life of their patients. The Company offers complete solutions, including implants and consumables, to diagnose and treat eye diseases. The Company creates innovative visualization solutions in the field of microsurgery. With 3,290 employees worldwide, the Group generated revenue of €1,335.5m in fiscal year 2019/20 (to 30 September).
The Group’s head office is located in Jena, Germany, and it has subsidiaries in Germany and abroad; more than 50 percent of its employees are based in the USA, Japan, Spain and France. The Center for Application and Research (CARIn) in Bangalore, India and the Carl Zeiss Innovations Center for Research and Development in Shanghai, China, strengthen the Company's presence in these rapidly developing economies. Around 41 percent of Carl Zeiss Meditec AG’s shares are in free float. The remaining approx. 59 percent are held by Carl Zeiss AG, one of the world’s leading groups in the optical and optoelectronic industries.
For further information visit: www.zeiss.com/med