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Carl Zeiss Meditec AG
Earnings Release • Dec 16, 2015
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Earnings Release
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Corporate | 16 December 2015 07:00
Carl Zeiss Meditec AG increases revenue to EUR 1,040 million / Market shares expanded in a number of markets
DGAP-News: Carl Zeiss Meditec AG / Key word(s): Final Results
2015-12-16 / 07:00
The issuer is solely responsible for the content of this announcement.
Carl Zeiss Meditec AG increases revenue to EUR 1,040 million / Market shares expanded in a number of markets
Medical technology company benefits from currency effects/Earnings impacted by special effects
JENA, 16 December 2015
Carl Zeiss Meditec AG looks back on another positive fiscal year: boosted by positive currency effects, the medical technology company’s revenue passed the billion mark in fiscal year 2014/15, with a 14 percent increase to EUR 1,040 million. Adjusted for currency effects, this equates to growth of around 8 percent over the prior year. Earnings before interest and taxes (EBIT) increased by 8 percent, to EUR 130.6 million (prior year: EUR 120.7 million). The EBIT margin of 12.6 percent (prior year: 13.3 percent) was impacted by additional strategic investments in research and development. Adjusted for these additional investments, the EBIT margin would have been at at 13.8 percent and thus at the same level as in the prior year – also thanks to the positive currency effect on operating result (prior year: 13.7 percent). The Company’s growth was attributable – to varying degrees – to all three business units and global regions.
“A strong fourth quarter and tailwind from the exchange rates of major currencies supported the good operating result. In contrast to the positive currency effects on operating result, we had to accept charges from currency hedging and write-downs in the financial result,” says Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG.
Key figures by business unit at a glance
Once again, the strategic business unit (SBU) Surgical Ophthalmology achieved the strongest growth in the fiscal year. Revenue increased by 22.5 percent (adjusted for currency effects 19.0 percent), to EUR 355.3 million (prior year: EUR 290.0 million). Business was driven both by good demand for intraocular lenses and consumables for cataract surgery and for surgical workstations for ophthalmology.
Revenue of the Ophthalmic Systems SBU increased by 12.2 percent (adjusted for currency effects, 3.9 percent), to EUR 392.0 million (prior year: EUR 349.3 million). As in the previous quarters, the area of diagnostics suffered from price and competitive pressure, while the refractive laser business for the correction of vision defects, including per-procedure business in this segment, performed very well.
The Microsurgery SBU benefited significantly from currency effects in the reporting period, with revenue growth of 8.5 percent, to EUR 292.8 million (prior year: EUR 270.0 million). After adjustment, this growth would equate to 2.7 percent. Business in Japan, in particular, which is especially important for this business unit, declined compared with a strong figure in the prior year.
Revenue by region
The Company’s revenue was boosted by growth in all three of its global regions; however, after adjustment for currency effects, the highest growth rate was once again recorded in the Asia/Pacific region.
The development of the individual markets in the region Europe, Middle East and Africa (EMEA) region was heterogeneous. Germany and the UK were the main growth drivers, with a revenue increase of 9.4 percent, to EUR 358.8 million. Bolstered by the strong dollar, revenue in the Americas region increased by 21.9 percent, to EUR 361.9 million Adjusted for currency effects, this region grew by 6.0 percent. At EUR 319.4 million, revenue in the Asia/Pacific (APAC) region was up by 12.3 percent year-on-year (adjusted for currency effects: 10.1 percent). High growth rates in China and India more than compensated in this region for a downturn in the Japanese market.
The Company’s financial result was curbed by non-operating effects: due to the current strength of the dollar against the euro, currency hedging costs impacted earnings per share just as much as charges from strategic investments. Earnings per share (EPS) decreased accordingly by around 17 percent compared with the prior year.
“We are satisfied with the results for the fiscal year. In spite of a difficult market environment, we once again succeeded in winning market shares in a number of markets,” says Ludwin Monz. According to Dr. Monz, the Company can be expected to grow at least as fast as the underlying markets in the coming fiscal year – with an EBIT margin that should be within the range of 13-15 percent in 2015/16 and in the medium term.
Revenue by strategic business unit
| Figures in EUR’000 | FY 2013/2014 |
FY 2014/2015 |
Change from prior year | Change from prior year (adjusted for currency effects) |
| Ophthalmic Systems | 349,314 | 391,958 | + 12.2% | + 3.9% |
| Surgical Ophthalmology | 289,984 | 355,267 | + 22.5% | + 19.0% |
| Microsurgery | 269,957 | 292,836 | + 8.5% | + 2.7% |
Revenue by region
| Figures in EUR’000 | FY 2013/2014 |
FY 2014/2015 |
Change from prior year | Change from prior year (adjusted for currency effects) |
| EMEA | 328,063 | 358,753 | + 9.4% | + 8.9% |
| Americas | 296,781 | 361,882 | + 21.9% | + 6.0% |
| APAC | 284,411 | 319,426 | + 12.3% | + 10.1% |
Press contacts:
Jann Gerrit Ohlendorf, Director Corporate Communications, Carl Zeiss Meditec AG
Phone: +49 (0)3641 220-331, E-mail: [email protected]
Investor contact:
Sebastian Frericks, Director Investor Relations, Carl Zeiss Meditec AG
Phone: +49 (0)3641 220-116, E-mail: [email protected]
http://www.zeiss.de/med/presse
2015-12-16 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.
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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 |
| End of News | DGAP News Service |