Continued profitable growth for Carl Zeiss Meditec in the first three months of 2018/19

Successful start to new fiscal year, with both strategic business units contributing

Jena/Germany | 11 February 2019 | Carl Zeiss Meditec AG

In the first three months of fiscal year 2018/19 Carl Zeiss Meditec generated revenue of €323.6m, representing an increase of 9.8% (adjusted for currency effects: +9.0%) compared with the same period of the previous year (prior year: €294.7m). Significant growth was posted in the EMEA1 Europe, Middle East, Africa region, particularly in its core markets Germany, France and Southern Europe. Earnings before interest and taxes (EBIT) increased significantly to €48.1m (prior year: €38.9m). The EBIT margin also increased, to 14.9% (prior year: 13.2%).

“We have made a successful start to the new financial year and were able to further expand our market share in both strategic business units,” explains Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG.

Solid growth in both strategic business units

The Ophthalmic Devices strategic business unit (SBU) increased its revenue by 10.7 percent in the first three months of fiscal year 2018/19 (adjusted for currency effects: +9.8 percent), to €239.5m, compared with €216.3m in the same period of the prior year. This revenue increase was mainly attributable to laser vision correction systems as well as devices and consumables in cataract surgery.
Revenue in the Microsurgery SBU grew by 7.4 percent (adjusted for currency effects: +6.7 percent), to €84.2m, compared with €78.4m in the same period of the prior year. Sales of neurosurgical visualization systems for the treatment of tumors and vascular disease also remained buoyant.

Significant growth, particularly in the EMEA region

Revenue in the EMEA region increased by 13.5 percent (adjusted for currency effects: +15.1 percent), to €103.5m (prior year: €91.2m). Germany, France and Southern Europe posted strong revenue growth.

At €91.9m (prior year: €94.1; -2.3%, adjusted for currency effects: -4.9%), revenue in the first three months of the current fiscal year in the Americas region was slightly below the prior year's figure. This development is primarily attributable to new product launches at the beginning of the 2017/18 fiscal year, which had provided a strong boost to revenue in the same period of the prior year.

The APAC2 region also posted a further increase in its revenue, of 17.1% (adjusted for currency effects: +16.2%) to €128.2m (prior year: €109.5m).

The operating result (earnings before interest and taxes: EBIT) increased significantly and reached €48.1m in the first three months of the current fiscal year (prior year: €38.9m). The EBIT margin increased from 13.2 percent to 14.9 percent. Adjusted for special effects, this represented an increase of 15.1% (prior year: 13.5 percent). Earnings of €0.32 per share remained at the same level as the previous year.
For fiscal 2018/19, we are expecting to grow at least as fast as our markets, which is confirmed by our business performance in the last three months. We are also holding to our margin target. We are expecting an EBIT margin in the range of 14 to 16 percent in the current fiscal year and in the medium term,” said Dr. Monz, confirming the forecast published in December 2018.

Revenue by strategic business unit

All figures in €m
3 months
2018/19
3 months
2017/18
Change from prior year Change from prior year*
Ophthalmic Devices 239.5 216.3 +10.7% +9.8%
Microsurgery 84.2 78.4 +7.4% +6.7%
Total 323.6 294.7 +9.8% +9.0%

*adjusted for currency effects



Revenue by region

All figures in €m
3 months
2017/18
3 months
2018/19
Change from prior year Change from prior year*
EMEA 103.5 91.2 +13.5% +15.1%
Americas 91.9 94.1 -2.3% -4.9%
APAC 128.2 109.5 +17.1% +16.2%
Total 323.6 294.7 +9.8% +9.0%

*adjusted for currency effects

1Europe, Middle East, Africa 2Asia/Pacific

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 3,050 employees worldwide, the Group generated revenue of €1,280.9m in fiscal year 2017/18 (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 more information visit our website at www.zeiss.com/med

Press Contact

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

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