Carl Zeiss Meditec AG

Earnings Release • May 7, 2015

News Details

Corporate | 7 May 2015 06:56

Carl Zeiss Meditec AG records revenue growth of 8 percent

Carl Zeiss Meditec AG / Key word(s): Half Year Results

2015-05-07 / 06:56

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Carl Zeiss Meditec AG records revenue growth of 8 percent
Second quarter shaped by revenue increase in Central Europe and in the Americas

JENA, 7 May 2015

Aided by currency effects, medical technology company Carl Zeiss Meditec AG increased its revenue by 8 percent in the first six months of the current financial year, to EUR 498.0 million (previous year: EUR 460.9 million). Adjusted for the favorable currency trends, growth was 3.7%. At EUR 61.0 million, earnings before interest and tax (EBIT) were slightly lower than the figure from the previous year (previous year: EUR 63.7 million). The EBIT margin reached 12.2 percent (previous year: 13.8 percent).

Adjusted for special effects, the EBIT margin would have been at 13.6 percent. At EUR0.37, earnings per share (EPS) were around 24 percent lower compared with the same period of the previous year (previous year: EUR 0.49). This was attributable to a negative result from currency hedging, primarily due to the current strength of the U.S. dollar against the euro.

Development of the strategic business units (SBUs) during the reporting period was mixed. The 2.1 percent decline in revenue in the Microsurgery SBU compared with the previous year (adjusted for currency effects: -5.8 percent), to EUR 141.7 million (previous year: EUR 144.8 million) should be considered against the background of an exceptionally strong year-ago period. The Ophthalmic Systems SBU, on the other hand, boosted by currency gains, achieved revenue growth of 8.8 percent (adjusted for currency effects: 2.4 percent), to EUR 183.2 million (previous year: EUR 168.4 million). A positive trend in the service business and the refractive laser business was once again offset in this SBU by persistently strong pricing and competitive pressure in the diagnostics business. Ultimately, it was the Surgical Ophthalmology SBU that once again closed the first six months with the highest growth rate, increasing its revenue by 17.1 percent to EUR 173.0 million (previous year: EUR 147.8 million). Even excluding the first-time consolidation of Aaren Scientifc, this SBU’s growth would still have been in the double digits.

Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG, gave his take on the 6-month figures: “In spite of varying regional trends and different rates of growth in our business fields, the development of our Company remains positive. Our broad business model and our balanced regional presence proved once more to be a strength.”

Development by region

EMEA (Europe, Middle East and Africa): Revenue in the EMEA region increased by 8.1 percent in the first six months of the financial year, to EUR 171.3 million (previous year: EUR 158.5 million). As in the previous quarters, development in the individual markets was very mixed; Germany and the United Kingdom, in particular, achieved good growth.

Americas: Revenue in the Americas region increased by 17.8 percent, to EUR 166.9 million (previous year: EUR 141.7 million). The driving force behind this growth was the strong U.S. dollar. Adjusted for currency effects, growth amounted to 5.2 percent.

APAC (Asia/Pacific region): The revenue generated in the APAC region in the first six months was at almost the same level as the previous year, at EUR 159.8 million (previous year: EUR 160.8 million). While currency effects did not play a significant role in this reporting region, the high comparison basis is now having a noticeably negative impact in Japan. Revenue there fell sharply, after the same period of the previous year had benefited from pull-forward effects associated with a VAT increase. Outside of Japan, however, there was a double-digit percentage increase in revenue in the region.

Outlook

As reported, the Company has set itself the goal to consolidate and expand its market shares. Revenue of around EUR 960 million to EUR 1.0 billion is forecast for the year as a whole. The EBIT margin is expected to be within a range of 13-15 percent in the medium term and has been adjusted in the current financial year for the special effects.

Revenue by strategic business unit 1

Figures in EUR ‘000	6 Months 2013/2014	6 Months 2014/2015	Change from previous year
Ophthalmic Systems	168,365	183,199	8.8%
Surgical Ophthalmology	147,771	173,040	17.1%
Microsurgery	144,786	141,718	-2.1%

1 For better comparability the previous year’s figuren have been adjusted in line with the new structure.

Revenue by region

Figures in EUR ‘000	6 Months 2013/2014	6 Months 2014/2015	Change from previous year
EMEA	158,464	171,296	8.1%
Americas	141,663	166,862	17.8%
Asia / Pacific region	160,795	159,799	-0.6%

Press contact:

Jann Gerrit Ohlendorf

Director Corporate Communications Carl Zeiss Meditec AG

Phone 03641 220-331

E-mail: press.meditec@zeiss.com

Investors contact:

Sebastian Frericks

Director Investor Relations Carl Zeiss Meditec AG

Phone: 03641 220-116

E-mail: investors.meditec@zeiss.com

www.zeiss.de/presse

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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:	investors.meditec@zeiss.com,info.meditec@zeiss.com
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

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