Carl Zeiss Meditec achieves further significant growth in revenue and order intake after nine months of 2021/22

Jena, Germany | 5 August 2022 | Carl Zeiss Meditec AG

Carl Zeiss Meditec generated revenue of €1,332.9m in the first nine months of fiscal year 2021/22 (prior year: €1,198.2m), corresponding to an increase of 11.2% (adjusted for currency effects: +9.8%) compared with the same period of the prior year. Order intake increased at a much higher rate than revenue, rising 36.0% to €1,750.5m (prior year: €1,287.6m). Earnings before interest and taxes (EBIT) at €275.9m were only slightly below the previous year's level of €282.8m, which had still benefited considerably from lower operating costs during the COVID-19 pandemic. The EBIT margin was 20.7% (prior year: 23.6%). The adjusted EBIT margin was 21.2% (prior year: 23.9%).

Dr. Markus Weber, CEO of Carl Zeiss Meditec AG: “In the last few months, the continuing tense global supply chain situation and the COVID-19 lockdown in Shanghai have presented us with major challenges, but our teams have once again managed to overcome them superbly. I am therefore highly satisfied with the very solid revenue growth and the even stronger order intake. Our markets and our portfolio are developing at a strong pace.”

Contributions to growth from all strategic business units and regions

Revenue in the Ophthalmic Devices strategic business unit (SBU) increased by 11.2% in the first nine months of fiscal year 2021/22 (adjusted for currency effects: +10.0%) to €1,027.2m (prior year: €923.4m). Recurring revenue from consumables, implants and services once again contributed significantly to the growth. The equipment business continued to be impacted by supply chain bottlenecks. Orders received in the Ophthalmic Devices SBU increased disproportionately to revenue. Revenue in the Microsurgery SBU increased by 11.2% (adjusted for currency effects: +9.2%) to €305.7m (prior year: €274.8m). Orders received in the Microsurgery SBU likewise increased at a much higher rate than revenue.

Revenue in the EMEAregion increased by 5.3% (adjusted for currency effects: +6.5%) to €334.2m (prior year: €317.3m). Orders received in the core European markets exhibited a very positive trend.

Revenue in the Americas region increased by 8.0% (adjusted for currency effects: +1.1%) to €330.4m (prior year: €305.9m). Contributors to this are both the stable development in the USA as well as a further recovery in the countries of South America.

In the APACregion, revenue increased to €668.3m, compared with €575.0m in the prior year (+16.2%; adjusted for currency effects: +16.2%3). The strongest contributions to growth came from China and India. The Japanese market also recorded growth.

Solid EBIT margin despite scheduled high investments

The operating result (earnings before interest and taxes: EBIT) was close to the previous year’s level at €275.9m in the first nine months of fiscal year 2021/22 level (prior year: €282.8m). Revenue growth, as well as in particular the increasing share of recurring revenue and favorable currency effects, had a positive impact on operating result. Scheduled larger investments in Sales & Marketing and Research & Development had an adverse effect on operating result. EBIT of the previous year had benefited in particular from low sales & marketing costs during the COVID-19 pandemic. The EBIT margin decreased to 20.7% (previous year: 23.6%). Adjusted for special effects, this amounted to 21.2% (prior year: 23.9%). Earnings per share increased to €2.14 (prior year: €2.04).

The company's outlook for fiscal year 2021/22 is substantiated: Revenue is expected to be at least around €1.8b, while EBIT margin in fiscal 2021/22 should be in the upper range of the previous forecast range of 19-21%. The forecasts for revenue and EBIT assume that the COVID-19 situation in China and the global supply chain situation do not deteriorate further in the course of the fourth quarter of 2021/22.

In the medium term, the EBIT margin is expected to develop to a level sustainably above 20%. The rising proportions of recurring revenue are making a positive contribution to this. Conversely, scheduled strategic investments in Research & Development and Sales & but Marketing remain high.

Revenue by strategic business unit

All figures in €m

9 months
2021/22

9 months
2020/21

Change from
previous year 

Change from
prior year
(currency-adjusted)

Ophthalmic Devices

1,027.2

923.4

+11.2%

+10.0%

Microsurgery

305.7

274.8

+11.2%

+9.2%

Overall group

1,332.9

1,198.2

+11.2%

+9.8%

Revenue by region

All figures in €m

9 Months
2021/22

9 Months
2020/21

Change from
previous year

Change from
prior year
(currency-adjusted)

EMEA

334.2

317.3

+5.3%

+6.5%

Americas

330.4

305.9

+8.0%

+1.1%

APAC

668.3

575.0

+16.2%

+16.2%

Overall group

1,332.9

1,198.2

+11.2%

+9.8%

Further information on our publication and the Analyst Conference Call on the results for the first nine months of fiscal year 2021/22 can be found at
https://www.zeiss.com/meditec-ag/investor-relations/financial-calendar/conference-calls.html

Press Contact

Sebastian Frericks
Director Investor Relations
Carl Zeiss Meditec AG
Phone: +49 3641 220-116
investors .meditec @zeiss .com

Brief Profile

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 approximately 3,531 employees worldwide, the Group generated revenue of €1,646.8m in fiscal year 2020/21 (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

Press Contact

Sebastian Frericks
Director Investor Relations
Carl Zeiss Meditec AG
Phone: +49 3641 220-116
investors .meditec @zeiss .com

Share
Further Articles

Carl Zeiss Meditec remains on growth course in fiscal year 2021/22

High revenue and strong order situation in spite of persistent geopolitical and macroeconomic risks

Carl Zeiss Meditec generated revenue of around €1,903m in fiscal year 2021/22 (prior year: €1,647m), corresponding to...

9 Dec 2022

ZEISS announces partnership with EANS

ZEISS announces partnership with European Association of Neurosurgical Societies

In cooperation with the renowned medical society, ZEISS promotes further training of specialists and advances scienti...

27 Oct 2022

ZEISS Receives FDA Clearance for MTLawton

ZEISS Receives FDA Clearance for MTLawton – A New Generation of Bipolar Forceps for Electrosurgery

10 Oct 2022