Carl Zeiss Meditec AG

Earnings Release • Dec 11, 2003

News Details

Ad-hoc | 11 December 2003 07:00

Carl Zeiss Meditec: EBIT up by 147 percent

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Carl Zeiss Meditec: EBIT up by 147 percent (Jena, 11 December 2003) In the financial year 2002/2003 (ending 30 September) Carl Zeiss Meditec AG further improved its market position and significantly increased its profitability. The Group was able to realise an increase in sales of 16.7 percent to EUR 235.7 million despite the weak economy. On the basis of constant exchange rates, sales would have risen by 29.4 percent to EUR 261.4 million. Accounting for 52.4 percent of sales, America is still the most important sales market, ahead of Asia (23.7 percent) and Europe (17 percent). Earnings before interest and taxes (EBIT) increased by 147 percent to EUR 24.7 million. This represents an EBIT margin of 10.5 percent (previous year: 5 percent). The reasons for the improved result were the global success of the products and low manufacturing costs. In the core ophthalmic business (continuing operations) the consolidated net income amounted to EUR 10.8 million (previous year: EUR 4.7 million). Consolidated net income nearly doubled to EUR 6.6 million (previous year: EUR 3.4 million) although the peripheral operations, Aesthetic and Dental, which have now been disposed of, contributed a loss of EUR 4.2 million to the result for the last time. Thanks to savings in costs of goods sold and changes in the product mix the gross margin increased by 8.7 percentage points to 43.5 percent (previous year: 34.8 percent). Cash and cash equivalents increased to EUR 45 million after EUR 7.2 million by the end of the previous financial year. Operative cash flow reached EUR 28.1 million (previous year: EUR 22.7 million). Net debt decreased by 70.8 percent to EUR 24.2 million (previous year: EUR 83 million). Contact: Carl Zeiss Meditec AG, Jens Brajer/Investor Relations, Goeschwitzer Str. 51 – 52, D-07745 Jena, Telephone +49 (0)3641-220-105, Fax: +49 (0)3641-220-117, E mail: investors@meditec.zeiss.com end of ad-hoc-announcement (c)DGAP 11.12.2003 ——————————————————————————– WKN: 531370; ISIN: DE0005313704; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 110700 Dez 03