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Carl Zeiss Meditec AG
Earnings Release • May 10, 2017
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Earnings Release
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Corporate | 10 May 2017 06:58
Carl Zeiss Meditec AG: Carl Zeiss Meditec accelerates growth in the first six months of 2016/17
DGAP-News: Carl Zeiss Meditec AG / Key word(s): Half Year Results
10.05.2017 / 06:58
The issuer is solely responsible for the content of this announcement.
| Carl Zeiss Meditec accelerates growth in the first six months of 2016/17 |
| Ophthalmic Surgery made largest contribution to growth |
JENA, 10 May, 2017
Carl Zeiss Meditec continued its growth trend in the first six months of 2016/17. Revenue increased by 8.6 percent (adjusted for currency effects, 7.1 percent), to EUR587.5m (prior year: EUR540.8m). Earnings before interest and taxes (EBIT) rose significantly, to EUR95.1m (prior year: EUR75.3m). The adjusted EBIT margin increased to 15.2 percent (prior year: 14.3 percent). Earnings per share reached EUR0.76 (prior year: EUR0.59).
Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG, comments on the half-year results: “We achieved solid growth rates in the first six months of 2016/17 and continued to increase our market shares with our leading portfolio in Ophthalmic Surgery. Furthermore, we were able to launch a range of new products to the market, both in Ophthalmology and in Microsurgery.”
Strongest growth in Ophthalmic Devices SBU
Ophthalmology, in particular, contributed to growth: the Ophthalmic Devices strategic business unit (SBU) increased its revenue by 10.6 percent in the first six months of the current fiscal year (adjusted for currency effects: 9.2 percent), to EUR433.1m, compared with EUR391.6m in the same period of the previous 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, achieved significant revenue growth, and Carl Zeiss Meditec expanded its market share. The EBIT margin of the Ophthalmic Devices SBU increased further. Aside from a favorable product mix, this was also attributable to one-time disposal proceeds from plants located in Ontario, California, in the amount of EUR7.7m, as reported in the first quarter of 2016/17.
Revenue in the Microsurgery SBU grew by 3.5 percent (adjusted for currency effects: 1.8 percent). Revenue from surgical microscopes and visualization solutions climbed to EUR154.4m, compared with EUR149.1m 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, the KINEVO 900 visualization system and the EXTARO 300 surgical microscopes, were launched on the market of neuro and dental surgery.
APAC region continues dynamic development
Another strong performance was achieved by the Asia/Pacific (APAC) region. At EUR227.2m, revenue was significantly higher than the prior-year figure of EUR186.7m – an increase of 21.7 percent (adjusted for currency effects: 18.4 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 1.3 percent in the first six months of 2016/17 (adjusted for currency effects: -0.6 percent) – however, compared with a weak start of the year, the business development was more stable in the second quarter of 2016/17. Revenue of EUR175.4m (prior year: EUR177.7m) was recorded. There was a downturn in business particularly in the United Kingdom, Southern Europe and Middle East.
Revenue in the Americas region further increased by 4.8 percent (adjusted for currency effects: 2.7 percent) to revenue of EUR184.9m (prior year: EUR176.4m).
Earnings per share (EPS) increased significantly year-on-year, to EUR0.76 (prior year: EUR0.59). The increase in operating profit contributed to this.
The revenue target of Carl Zeiss Meditec AG lies within the range of EUR1,150m to EUR1,200m for fiscal year 2016/17. The EBIT margin is expected to be within the range also forecast for the medium term, of 13 percent to 15 percent.
Revenue by strategic business unit
| All figures in EURm | 6 months 2016/17 | 6 months 2015/16 |
Change compared to prior year | Change compared to prior year (adjusted for currency effects) |
| Ophthalmic Devices | 433.1 | 391.6 | +10.6% | +9.2% |
| Microsurgery | 154.4 | 149.1 | +3.5% | +1.8% |
| Total | 587.5 | 540.8 | +8.6% | +7.1% |
Revenue by region
| All figures in EURm | 6 months 2016/17 | 6 Months 2015/16 | Change compared to prior year | Change compared to prior year (adjusted for currency effects) |
| EMEA | 175.4 | 177.7 | -1.3% | -0.6% |
| Americas | 184.9 | 176.4 | +4.8% | +2.7% |
| APAC | 227.2 | 186.7 | +21.7% | +18.4% |
| Total | 587.5 | 540.8 | +8.6% | +7.1% |
Contact for investors and press
Sebastian Frericks
Director Investor Relations Carl Zeiss Meditec AG
Phone: 03641 220-116
Email: [email protected]
10.05.2017 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.de
| Language: | 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: | [email protected] |
| Internet: | www.meditec.zeiss.de |
| ISIN: | DE0005313704 |
| WKN: | 531370 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |