Carl Zeiss Meditec continues strong growth trend after nine months of 2018/19
JENA, 9 August 2019
Carl Zeiss Meditec generated revenue of EUR1,027.6m in the first nine months of fiscal year 2018/19, corresponding to an increase of 10.9% (adjusted for currency effects: +8.9%) compared with the same period of the prior year (prior year: EUR926.3m). Earnings before interest and taxes (EBIT) increased significantly, to EUR184.2m (prior year: EUR134.8m). The EBIT margin also increased, to 17.9% (prior year: 14.6%).
"All strategic business units made valuable contributions to this very encouraging increase in revenue and earnings. Once again, revenue from consumables for ophthalmic surgery increased the most," says Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG.
Ophthalmology and Microsurgery continue to grow
The Ophthalmic Devices strategic business unit (SBU) increased its revenue by 12.0 percent in the first nine months of fiscal year 2018/19 (adjusted for currency effects: +10.1 percent), to EUR762.7m, compared with EUR681.0m in the first nine months of fiscal year 2017/18. This revenue increase was mainly attributable to the persistently high demand for laser vision correction systems, as well as devices and consumables for cataract surgery.
Revenue in the Microsurgery SBU grew by 8.0 percent (adjusted for currency effects: +5.7 percent), to EUR264.9m, compared with EUR245.2m in the same period of the prior year. Sales of neurosurgical visualization systems for the treatment of tumors and vascular disease also remained buoyant.
Solid growth in EMEA and APAC
Revenue in the EMEA region rose by 9.3 percent in the first nine months of fiscal year 2018/19 (adjusted for currency effects: +10.0 percent), to EUR308.2m (prior year: EUR282.0m). Germany, France and the UK posted strong revenue growth.
Revenue in the Americas region amounted to EUR292.5m, and thus only approximated the prior year's level after adjustment for currency effects (prior year: EUR279.3m; equates to +4.7 percent, or after adjustment for currency effects, -0.3 percent). This development should mainly be viewed in the context of a strong prior-year period, which benefited significantly from new product launches.
Once again, the APAC region achieved the highest growth rate, with a revenue increase of 17.0 percent (adjusted for currency effects: +15.4 percent), to EUR426.9m (prior year: EUR364.9m). The largest contributions to this growth once again came from China and South Korea. Japan also performed well.
The operating result (EBIT) increased in the first nine months of the current fiscal year, reaching EUR184.2m (prior year: EUR134.8m). This growth is mainly due to a positive development of the product mix, with a high proportion of recurring revenue. The EBIT margin increased from 14.6 percent to 17.9 percent. Adjusted for special effects, this resulted in an increase to 18.2 percent (prior year: 14.8 percent). Earnings per share rose from EUR0.92 in the prior year to EUR1.22.
Based on this positive trend, Carl Zeiss Meditec is further specifying its forecast for fiscal year 2018/19. Revenue is expected to be at the upper end of or slightly above the previous forecast range of EUR1,350m to EUR1,420m. The EBIT margin is expected to exceed the corridor set in April 2019, of 15.0 to 17.5 percent, in the current fiscal year.
Dr. Ludwin Monz added: "Our main objective is to increase our long-term competitiveness. As already communicated when we published our half-year results, we plan to capitalize on the current favorable earnings situation to also step up investments in research and development. This applies in particular to the area of digital solutions for ophthalmic surgery, in which we aim to further extend our innovative edge. We shall make a precise forecast for the development of the EBIT margin beyond the end of the current fiscal year when we publish our annual results for fiscal year 2018/19. From today's perspective, however, we do not anticipate a sustainable increase in the EBIT margin in fiscal year 2019/20, in view of the planned strategic investments."
Revenue by strategic business unit
All figures in EURm 9 months 2018/19 9 months 2017/18 Change from prior year Change from prior year (adjusted for currency effects) Ophthalmic Devices 762.7 681.0 +12.0% +10.1% Microsurgery 264.9 245.2 +8.0% +5.7% Overall group 1,027.6 926.3 +10.9% +8.9%
Revenue by region
All figures in EURm 9 months 2018/19 9 months 2017/18 Change from prior year Change from prior year (adjusted for currency effects) EMEA 308.2 282.0 +9.3% +10.0% Americas 292.5 279.3 +4.7% -0.3% APAC 426.9 364.9 +17.0% +15.4% Overall group 1,027.6 926.3 +10.9% +8.9%
Contact for investors and press Sebastian Frericks Director Investor Relations, Carl Zeiss Meditec AG Phone: +49 (0)3641 220-116 E-Mail: email@example.com/press
09.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Carl Zeiss Meditec AG Göschwitzer Str. 51-52 07745 Jena
Germany Phone: +49 (0)3641 220-0 Fax: +49 (0)3641 220-112 E-mail: firstname.lastname@example.org Internet: www.zeiss.de/meditec-ag/ir ISIN: DE0005313704 WKN: 531370 Indices: MDAX, TecDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 854915 End of News DGAP News Service