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Carl Zeiss Meditec AG
Earnings Release • May 11, 2016
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Earnings Release
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News Details
Corporate | 11 May 2016 07:00
Carl Zeiss Meditec AG: Carl Zeiss Meditec AG records revenue growth of 8.6 percent
DGAP-News: Carl Zeiss Meditec AG / Key word(s): Quarterly / Interim Statement/Half Year Results
2016-05-11 / 07:00
The issuer is solely responsible for the content of this announcement.
| Carl Zeiss Meditec AG records revenue growth of 8.6 percent |
| Earnings per share and EBIT increase/forecast for fiscal year specified in more detail |
JENA, 11 May 2016
Medical technology company Carl Zeiss Meditec AG increased its revenue by 8.6 percent in the first six months of the fiscal year, to EUR 540.8 million; earnings before interest and taxes (EBIT) also increased to EUR 75 million (prior year: EUR 61 million), corresponding to an EBIT margin of 13.9 percent (prior year: 12.2 percent). There were also favorable measurement effects relating to currency hedges at the end of the reporting period, which caused earnings per share (EPS) to climb to EUR 0.59 (prior year: EUR 0.37).
The positive revenue trend was once again boosted by currency effects. Assuming constant exchange rates, growth of 5.3 percent would have been achieved. The positive development of earnings is attributable, equally, to a favorable product mix and strict cost management.
All three strategic business units (SBUs) grew in the reporting period, with ophthalmology making the strongest contributions to growth.
Revenue of the Ophthalmic Systems SBU increased by 11.1 percent to EUR 203.6 million (prior year: EUR 183.2 million). Diagnostic products and refractive lasers both contributed to this increase. Revenue development benefited from positive currency effects. Adjusted for currency effects, revenue increased by 6.8 percent.
The Surgical Ophthalmology SBU achieved a revenue increase of 8.7 percent, to EUR 188.1 million (previous year: EUR 173.0 million) – adjusted for currency effects, revenue increased by 6.6 percent.
The Microsurgery SBU generated revenue of EUR 149.1 million, corresponding to an increase of 5.2 percent compared with the prior year (EUR 141.7 million). After adjustment for currency effects, this would equate to growth of 1.8 percent.
Dr Ludwin Monz, President and CEO of Carl Zeiss Meditec AG, gave his take on the 6-month figures: “The encouraging development of business confirms our strategy. We optimize the clinical benefit of our products without losing sight of the economic aspects of our customers.”
Asia drives growth in the regions
EMEA (Europe, Middle East and Africa): Revenue in the EMEA region increased by 3.7 percent, to EUR 177.7 million (prior year: EUR 171.3 million). As in the previous quarters, the development of the individual markets is very heterogeneous. Once again, Germany and the UK, among others, made good contributions to growth.
Americas: Revenue in the Americas region increased by 5.7 percent, to EUR 176.4 million (prior year: EUR 166.9 million), with the region benefiting in particular from the strength of the U.S. dollar. Adjusted for currency effects, revenue was almost on a par with the prior year (-0.9%). Business in the USA exhibited a sideways trend.
APAC (Asia/Pacific region): The APAC region generated revenue of EUR 186.7 million, which is significantly higher than the year-ago figure of EUR 159.8 million – an increase of 16.8 percent. Currency effects had a slightly positive effect – the growth rate after adjustment for currency effects was 13.4 percent. This growth is largely attributable to the Chinese market and Southeast Asia. Japan and India developed sideways.
Outlook
Dr Ludwin Monz sees a strengthening of the Company after significant product launches during the past few months. “Product innovations, such as the AngioPlex OCT for identifying small blood vessels in the retina or the Primus 200 OCT device for smaller surgeries – which we have now brought to Europe following the market launch in India and China – secure our growth trend.”
In view of the positive development of business, the Company has specified its forecast for fiscal year 2015/16 in more detail: Revenue is now expected to range between EUR 1,080 million and EUR 1,120 million. The EBIT margin is expected to be within the range of 13-15 percent in the current fiscal year and in the medium term.
Revenue by strategic business unit
| Figures in EUR’000 | 6 Months 2014/15 |
6 Months 2015/16 |
Change from previous year | Change from previous year (adjusted for currency effects) |
| Ophthalmic Systems | 183,199 | 203,560 | + 11.1% | + 6.8% |
| Surgical Ophthalmology | 173,040 | 188,094 | + 8.7% | + 6.6% |
| Microsurgery | 141,718 | 149,127 | + 5.2% | + 1.8% |
Revenue by region
| Figures in EUR’000 | 6 Months 2014/15 |
6 Months 2015/16 |
Change from previous year | Change from previous year (adjusted for currency effects) |
| EMEA | 171,296 | 177,709 | + 3.7% | + 4.1% |
| Americas | 166,862 | 176,379 | + 5.7% | – 0.9% |
| APAC | 159,799 | 186,693 | +16.8% | + 13.4% |
Press contact:
Jann Gerrit Ohlendorf
Director Corporate Communications Carl Zeiss Meditec AG
Phone +49 (0)3641 220-331
Email: [email protected]
Investors contact:
Sebastian Frericks
Director Investor Relations Carl Zeiss Meditec AG
Phone: +49 (0)3641 220-116
Email: [email protected]
2016-05-11 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.
Media archive at www.dgap-medientreff.de and 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],[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; Terminbörse EUREX |
| End of News | DGAP News Service |