Earnings Release • Feb 13, 2014
Earnings Release
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Corporate | 13 February 2014 07:00
Carl Zeiss Meditec AG: cautious start to the new financial year, after strong annual results
Carl Zeiss Meditec AG / Key word(s): Quarter Results
13.02.2014 / 07:00
| Carl Zeiss Meditec AG: cautious start to the new financial year, after strong annual results |
| Negative currency effects hinder growth in the first quarter |
JENA, 13 February 2014
As a result of unfavourable exchange rates and a slowdown in momentum in Microsurgery, Carl Zeiss Meditec AG ended the first quarter of financial year 2013/2014 with a slight decline in revenue and earnings. At EUR 212.3 million, revenue was 3.1 percent lower than in the same quarter of the previous year (adjusted for currency effects: +1.7%); earnings before interest and taxes fell to EUR 26.5 million (previous year: EUR 31.3 million).
In the first three months of the new financial year, foreign currency losses and a smaller share of revenue generated by the Microsurgery SBU noticeably contributed to the lower operating results recorded by the medical technology provider compared with the same quarter of the previous year. Development of the strategic business units (SBUs) and regions during the first quarter was mixed.
Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG, gave his take on the 3-month figures: ‘In spite of a more restrained pace of growth in Microsurgery and the negative currency effects, which were the main cause of the slowdown in growth, our sights for the financial year remain firmly set on our goal to increase revenue at least on a par with general market growth; our objective to sustainably increase our EBIT margin to 15 percent by 2015 also remains unchanged.’
Revenue by business unit
The development of business in our strategic business units was varied. The more restrained pace of growth seen recently in Microsurgery was further curbed by negative currency effects.
Revenue decreased year-on-year from EUR 105.1 million to EUR 92.1 million. The SBU Ophthalmic Systems grew slightly, in spite of the strong competitive pressure and an unfavourable currency effect. Revenue increased year-on-year from EUR 84.4 million to EUR 86.7 million. Once again, the Surgical Ophthalmology SBU performed extremely well. Revenue climbed to EUR 33.4 million, compared with EUR 29.5 million in the same quarter of the previous year.
Revenue by region
The EMEA region (Europe, Middle East and Africa) generated revenue of EUR 70.5 million (previous year: EUR 76.2 million). This reflects in particular the expiry of government investment schemes in Russia, which had had a particularly positive effect on this region’s revenue in the previous quarters.
The development of business in the Americas region was very positive compared with the previous year. Revenue here increased by 6.3 percent year-on-year, to EUR 77.6 million. Both the USA and Latin America contributed to growth in this region.
Business in the Asia/Pacific region was once again significantly impacted by currency effects. A positive development of business, particularly in China and Southeast Asia, was not enough to compensate for the weak Japanese yen, in particular, combined with a general slowdown in economic growth in Japan. At EUR 64.2 million, revenue in this region was down by 8.1 percent compared with the previous year. Adjusted for currency effects, however, the region would have reported growth of almost 3 percent.
Outlook
In spite of difficult general conditions, Ludwin Monz believes the Company is on the right track. ‘We shall continue to adhere firmly to our investments in R&D, which form the basis for future growth. Strategic foundations, such as the consolidation of our rapidly growing intraocular lens business through the acquisition of Aaren Scientific and the improvement of our market penetration in Turkey, which we announced at the beginning of 2014, support our aim to achieve a regionally balanced market focus geared to a wide range of growth areas.’
Revenue by strategic business unit
| Figures in EUR ‘000 | 3 Months 2012/2013 |
3 Months 2013/2014 |
Change from previous year |
| Ophthalmic Systems | 84,421 | 86,738 | + 2.7% |
| Surgical Ophthalmology | 29,472 | 33,438 | + 13.5% |
| Microsurgery | 105,106 | 92.1103 | – 12.4% |
Revenue by region
| Figures in EUR ‘000 | 3 Months 2012/2013 |
3 Months 2013/2014 |
Change from previous year |
| EMEA | 76,209 | 70,522 | -7.5% |
| Americas | 72,973 | 77,568 | + 6.3% |
| Asia/Pacific region | 69,817 | 64,189 | -8.1% |
Press contact:
Jann Gerrit Ohlendorf, Director Corporate Communications, Carl Zeiss Meditec AG Phone+49 (0)3641 220-331, E-Mail: [email protected]
Investors contact:
Sebastian Frericks, Director Investor Relations, Carl Zeiss Meditec AG
Phone: +49 (0)3641 220-116, E-Mail: [email protected]
www.meditec.zeiss.de /presse
End of Corporate News
13.02.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| 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: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart |
| End of News | DGAP News-Service |
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| 252409 13.02.2014 |
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