Carl Zeiss Meditec continues on growth course in fiscal year 2017/18

Both strategic business units make good contributions / Significant increases in Americas and APAC regions

JENA / GERMANY, 7 December 2018

Carl Zeiss Meditec AG increased its revenue further in all strategic business units and regions after twelve months of fiscal year 2017/18. Revenue increased by 7.6 percent (adjusted for currency effects: 11.1 percent), to €1,280.9m (prior year: €1,189.9m). Earnings before interest and taxes (EBIT) rose to €197.1m (prior year: €180.8m). The EBIT margin remained stable at 15.4 percent (prior year: 15.2 percent). Earnings per share reached €1.41 (prior year: €1.57).

“We achieved our sales forecast, which we had already raised in July 2018 – in spite of negative currency effects. In fiscal year 2017/18 we gained further market shares in both ophthalmology and microsurgery. What is particularly encouraging is that all regions and business segments contributed – the performance of the Americas and Asia/Pacific regions was particularly strong,” says Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG.

Solid growth and market share gains in both strategic business units

The strategic business unit (SBU) Ophthalmic Devices increased its revenue by 6.0 percent after twelve months of fiscal year 2017/18 (adjusted for currency effects: 9.3 percent), to €933.3m, compared with €880.5m in the same period of the prior year. The laser systems business for vision correction and the diagnostics business developed particularly well. There was also continued solid demand for premium and standard intraocular lenses for the treatment of cataracts.

Revenue in the Microsurgery SBU grew by 12.3 percent (adjusted for currency effects: 16.5 percent), to €347.6m, compared with €309.4 in the prior year. This growth is particularly attributable to the new products for the neurosurgery and dental segments.

Significant growth, particularly in Americas and APAC regions

Revenue in the EMEA region increased by 4.0 percent (adjusted for currency effects: 5.4 percent), to €378.1m (prior year: €363.4m). Development in the core markets Germany and France was stable. Increases were achieved in the UK, Southern Europe and some Eastern European markets.

A positive trend was also recorded in the Americas region. Revenue increased to €406.5m (prior year: €378.2m). This growth amounted to 7.5 percent (adjusted for currency effects: 14.4 percent) and thus accelerated significantly compared with the prior year. This is primarily due to a continued positive trend in the U.S. market.
The Asia/Pacific (APAC) region grew by 10.7 percent, to €496.3m (prior year: €448.2m). After adjustment for currency effects, this corresponds to an increase of 13.2 percent. Once again, the largest contributions to growth came from China and South Korea.

The EBIT margin was 15.4 percent (prior year: 15.2 percent). Adjusted for special effects, an increase to 15.7 percent was recorded (prior year: 14.8 percent). This was due in particular to a positive development of the product mix. Revenue from recurring business, such as from consumables, implants and services, increased further, and climbed to around 34 percent of revenue (prior year: 33 percent).

Earnings per share declined slightly, to €1.41 (prior year: €1.57). This decrease was attributable to negative currency effects and to the increased number of shares.

Carl Zeiss Meditec AG anticipates further growth for fiscal year 2018/19, at least to the level of the underlying markets. The EBIT margin is expected to range between 14 percent and 16 percent in fiscal year 2018/19 and in the medium term.

Revenue by strategic business unit

All figures in €m 12 Months 2017/18 12 Months 2016/17 Change from prior year Change from prior year (adjusted for currency effects)
Ophthalmic Devices 933.3
880.5
+6.0%
+9.3%
Microsurgery
347.6
309.4
+12.3%
+16.5%
Total 1,280.9
1,189.9
+7.6%
+11.1%
Revenue by region
All figures in €m 12 Months 2017/18 12 Months 2016/17 Change from prior year Change from prior year (adjusted for currency effects)
EMEA 378.1
363.4
+4.0%
+5.4%
Americas 406.5
378.2
+7.5%
+14.4%
APAC 496.3 448.2
+10.7%
+13.2%
Total 1,280.9
1,189.9
+7.6% +11.1%

Contact for investors and press: 

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

 

Brief profile

Carl Zeiss Meditec AG (ISIN: DE 0005313704), which is listed on TecDAX and SDax 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