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Carl Zeiss Meditec AG
Earnings Release • May 10, 2021
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Earnings Release
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Corporate | 10 May 2021 07:00
Carl Zeiss Meditec returns to significant revenue growth in H1 2020/21
DGAP-News: Carl Zeiss Meditec AG / Key word(s): Half Year Report/Half Year Results
10.05.2021 / 07:00
The issuer is solely responsible for the content of this announcement.
| Carl Zeiss Meditec returns to significant revenue growth in H1 2020/21 |
| Strong increase in operating profit due to low costs |
JENA, 10 May 2021
Carl Zeiss Meditec generated revenue of €767.4m in the first six months of fiscal year 2020/21 (prior year: €714.9m), an increase of +7.3% (adjusted for currency effects: +10.5%). Earnings before interest and taxes (EBIT) increased to €162.7m (prior year: €102.5m). The EBIT margin was 21.2% (prior year: 14.3%).
“We are very satisfied with the results for the first six months – all regions contributed to our return to roughly the same growth rate as prior to the COVID-19 pandemic. The impact from the pandemic is gradually fading,” said Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG.
Strong performance in SBU Ophthalmic Devices
Revenue in the strategic business unit (SBU) Ophthalmic Devices increased by +14.0% in the first six months of fiscal year 2020/21 (adjusted for currency effects: +17.2%) to €590.1m (prior year: €517.7m). Recurring revenue from consumables, implants and services contributed significantly to growth. Revenue in the Microsurgery SBU decreased by -10.1% (adjusted for currency effects: -7.0%) to €177.3m (prior year: €197.2m). Orders received in the SBU Microsurgery were already back on a positive trend.
All reporting regions contribute to growth
Revenue in the EMEA [1] region increased by +3.8% (adjusted for currency effects: +5.4%) to €216.7m (prior year: €208.7m). There was a positive trend in the markets of Germany, France and Southern Europe, and the UK.
The Americas region grew by +3.0% after adjustment for currency effects – in the reporting currency, revenue decreased by -4.1% to €197.2m (prior year: €205.5m). The USA gave a solid performance, while the markets of Latin America lagged behind the prior year.
In the APAC [2] region, revenue increased significantly year-on-year from €300.7m to €353.5m (+17.6%; adjusted for currency effects: +19.2%). Once again, the strongest contributions to growth were generated in China and South Korea, which also benefited from base effects due to the COVID-19 pandemic in the prior year. By contrast, the Japanese and Indian markets continued to lag behind the prior year.
Operating result up significantly year-on-year
The operating result (earnings before interest and taxes: EBIT) increased to €162.7m in the first six months of fiscal year 2020/21 (prior year: €102.5m). Low selling and marketing expenses, in particular, contributed to this. EBIT also includes positive one-time income of €2.4m from the sale of a property, as already reported in the first quarter of 2020/21. The EBIT margin increased to 21.2% (prior year: 14.3%). Adjusted for special effects, this amounted to 21.4% (prior year: 14.7%). Earnings per share increased to €1.12 (prior year: €0.71).
Carl Zeiss Meditec anticipates a further normalization of business over the further course of fiscal year 2020/21. This expectation is based on the assumption that there will not be another global deterioration of the pandemic situation.
Revenue is expected to increase to around €1.6b in fiscal year 2020/21 (prior year: €1,335.5m). The EBIT margin is expected to rise to around 20% in fiscal year 2020/21 (prior year: 13.3%), bolstered to a great extent by the currently low selling and marketing expenses. In the medium term, the Company still expects to achieve an EBIT margin that is sustainably above 18%.
Revenue by strategic business unit
| All figures in €m | 6 months 2020/21 | 6 months 2019/20 | Change from previous year | Change from prior year (currency-adjusted) |
| Ophthalmic Devices | 590.1 | 517.7 | +14.0% | +17.2% |
| Microsurgery | 177.3 | 197.2 | -10.1% | -7.0% |
| Overall group | 767.4 | 714.9 | +7.3% | +10.5% |
Revenue by region
| All figures in €m | 6 months 2020/21 | 6 months 2019/20 | Change from prior year | Change from prior year (currency-adjusted) |
| EMEA | 216.7 | 208.7 | +3.8% | +5.4% |
| Americas | 197.2 | 205.5 | -4.1% | +3.0% |
| APAC | 353.5 | 300.7 | +17.6% | +19.2% |
| Overall group | 767.4 | 714.9 | +7.3% | +10.5% |
Further information on our publication and the Analyst Conference Call on the results for the first six months of fiscal year 2020/21 can be found at
https://www.zeiss.com/meditec-ag/investor-relations/financial-calendar/conference-calls.html
Contact for investors and press
Sebastian Frericks
Director Investor Relations, Carl Zeiss Meditec AG
Phone: + 49 (0)3641 220-116
Email: [email protected]
[1] Europe, Middle East, Africa
[2] Asia/Pacific
10.05.2021 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.
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| Language: | English |
| Company: | Carl Zeiss Meditec AG |
| Göschwitzer Str. 51-52 | |
| 07745 Jena, Germany | |
| Germany | |
| Phone: | +49 (0)3641 220-0 |
| Fax: | +49 (0)3641 220-112 |
| E-mail: | [email protected] |
| 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: | 1194235 |
| End of News | DGAP News Service |