Carl Zeiss Meditec continues its growth trend

Positive contributions from both strategic business units

JENA/GERMANY, 07/08/2017.

Carl Zeiss Meditec AG continued its growth trend in the first nine months of 2016/17: Revenue increased by 8.3 percent (adjusted for currency effects, 7.2 percent), to €864.7m (prior year: €798.6m). Earnings before interest and taxes (EBIT) rose significantly, to €132.6m (prior year: €110.5m). The adjusted EBIT margin increased to 14.7 percent (prior year: 14.2 percent). Earnings per share reached €1.10 (prior year: €0.83).

“Once again, we achieved further growth after nine months of 2016/17 and are therefore well on our way to achieving our revenue forecast of €1,150 - 1,200m for the fiscal year. I am particularly pleased that both business units made a significant contribution to this,” said Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG, commenting on the result.


Strongest growth in Ophthalmic Devices SBU

Ophthalmology, in particular, contributed to growth: the Ophthalmic Devices strategic business unit (SBU) increased its revenue by 9.2 percent in the first nine months of the current fiscal year (adjusted for currency effects: 8.2 percent), to €639.9m, compared with €585.8m in the same period of the prior year. The business with laser systems for refractive vision correction developed particularly well. The sub-segment of Surgical Ophthalmology, the business with intraocular lenses and devices for the treatment of cataracts, again achieved revenue growth, and Carl Zeiss Meditec expanded its market share of intraocular lenses. The EBIT margin of the Ophthalmic Devices SBU increased further. This was also attributable to a one-time gain from asset sales at the Ontario, California, location in the amount of around €8m, as reported in the first quarter of 2016/17.

Revenue in the Microsurgery SBU grew by 5.6 percent (adjusted for currency effects: 4.3 percent). Revenue from surgical microscopes and visualization solutions climbed to €224.8m, compared with €212.8m in the prior year. The profitability of the Microsurgery SBU remained at an above-average level and increased slightly compared with the prior year. Significant new products were launched in the neuro and dental surgery market in March and April 2017, with the introduction of the KINEVO 900 visualization system and the EXTARO 300 surgical microscope.


APAC region continues dynamic development

Another strong performance was achieved by the Asia/Pacific (APAC) region. At €332.6m, revenue was significantly higher than the prior-year figure of €278.7m – an increase of 19.3 percent (adjusted for currency effects: 17.3 percent). A large part of this growth is again attributable to the Chinese market, as well as Southeast Asia and India.

Revenue in the EMEA region declined slightly by 1.1 percent in the first nine months of 2016/17 (adjusted for currency effects: -0.4 percent). Revenue came in at €259.6m (prior year: €262.5m). The development of business was particularly below average in the United Kingdom, Southern Europe and the Middle East.

Revenue in the Americas region increased by a further 5.9 percent (adjusted for currency effects: 3.7 percent), to €272.5m (prior year: €257.3m).

Earnings per share (EPS) increased significantly year-on-year, to €1.10 (prior year: €0.83). Besides the increase in the operating profit, this was also attributable to gains on currency hedges, compared with losses in the same period of the prior year.

Carl Zeiss Meditec confirms its forecast revenue target of €1,150m to €1,200m for fiscal year 2016/17. The EBIT margin is expected to be within the range also forecast for the medium term, of 13 to 15 percent.

Revenue by strategic business unit

All figures in €m 9 months 2016/17 9 months 2015/16 Change from prior year Change from prior year (adjusted for currency effects)
Ophthalmic Devices 639.9
Microsurgery 224.8
Total 864.7

Revenue by region

All figures in €m
9 months 2016/17 9 months 2015/16 Change from prior year Change from prior year (adjusted for currency effects)
EMEA 259.6
Americas 272.5
APAC 332.6
Total 864.7

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 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. It provides complete packages of solutions for the diagnosis and treatment of eye diseases, including implants and consumable materials. The Company creates innovative visualization solutions in the field of microsurgery. With approximately 2,900 employees worldwide, the Group generated revenue of € 1,088 million in financial year 2015/16 (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 companies in the optical and optoelectronic industries.

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