Carl Zeiss Meditec AG

Earnings Release • Aug 11, 2004

News Details

Ad-hoc | 11 August 2004 20:35

Carl Zeiss Meditec AG: Nine-month net income doubled

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Carl Zeiss Meditec AG: Nine-month net income doubled In the first nine months of the current financial year ending 30 September, Carl Zeiss Meditec AG (ISIN DE000531370), listed in the Prime Standard at the Deutsche Börse, once again furnished proof of its profitability. The leading global provider of systems for the diagnosis and treatment of eye ailments doubled its consolidated net income to EUR 9.4m (previous year: EUR 4.7m). Consequently, there was also a significant increase in earnings per share. The latter amounted to EUR 0.33 (previous year: EUR 0.18). At EUR 18.9m, earnings before interest and tax (EBIT) remained almost at last year’s level of EUR 19.3m. However, the EBIT margin improved to 11.1% (previous year: 10.9%). The strong euro resulted in a 3.1% decline in group sales to EUR 170.4m (previous year’s figure EUR 175.9m). Had exchange rates remained constant, sales would have increased by 3.7% to EUR 182.3m. In the first nine months the gross margin improved to 45.9% (previous year: 42.9%). This enabled investments to be increased in the R&D and Marketing & Sales sectors without having an adverse effect on profits. Thanks to operative cash flow amounting to EUR 17.3m (previous year: EUR 19.2m), cash and cash equivalents reached the record level of EUR 47.3m (30 September 2003: EUR 45.0m). Net debt decreased by more than two thirds to EUR 7.5m (30 September 2003: EUR 24.2m) and the equity ratio climbed to EUR 62.4% (30 September 2003: 59.0%). Due to exchange rate trends, group sales for the year as a whole are expected to equal, at most, the previous year’s level. On the basis of constant exchange rates, however, this item would show a net increase in group sales over the previous year. There will be a further enhancement in profitability and a distinct improvement in the return on sales. Contact: Carl Zeiss Meditec AG, Jens Brajer/Director Investor Relations, Göschwitzer Str. 51-52, 07745 Jena, Phone: +49 (0)3641-220-105, Fax: +49 (0)3641-220-117, E- mail: investors@meditec.zeiss.com end of ad-hoc-announcement (c)DGAP 11.08.2004 ——————————————————————————– WKN: 531370; ISIN: DE0005313704; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 112035 Aug 04