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Carl Zeiss Meditec AG
Earnings Release • May 15, 2018
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Earnings Release
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Corporate | 15 May 2018 06:58
Carl Zeiss Meditec increased revenue in the first six months of 2017/18 by 4.5 percent
DGAP-News: Carl Zeiss Meditec AG / Key word(s): Half Year Results
15.05.2018 / 06:58
The issuer is solely responsible for the content of this announcement.
| Carl Zeiss Meditec increased revenue in the first six months of 2017/18 by 4.5 percent |
| Highest growth rate in Microsurgery strategic business unit |
JENA, 15 May 2018
Carl Zeiss Meditec AG enjoyed further growth in the first six months of 2017/18, despite negative currency effects: Revenue increased by 4.5 percent (adjusted for currency effects: 9.5 percent), to EUR613.7m (prior year: EUR587.5m). Adjusted earnings before interest and taxes (EBIT) amounted to around EUR90m (prior year: EUR89.1m). The adjusted EBIT margin was 14.7 percent (prior year: 15.2 percent). Earnings per share reached EUR0.63 (prior year: EUR0.76).
Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG, comments on the first-half results: “Our business achieved significant organic growth in the first six months; we are winning market shares in both strategic business units. We are satisfied with the development of both the equipment business and recurring sales.”
Strongest growth in Microsurgery SBU
The Ophthalmic Devices strategic business unit increased its revenue by 3.7 percent (adjusted for currency effects: 8.6 percent), to EUR449.3m. This increase is attributable to both products and solutions in ophthalmic diagnostics, as well as to refractive laser systems and the strong demand for premium and standard intraocular lenses.
The Microsurgery strategic business unit increased its revenue by 6.5 percent in the first six months of the current fiscal year (adjusted for currency effects: 12.2 percent), to EUR164.4m, compared with EUR154.4m in the same period of the prior year. The new products launched on the market in the prior year in neuro and dental surgery performed well.
Solid currency-adjusted growth contributions from all regions
All regions exhibited a positive trend on a currency-adjusted basis, with the highest growth rate of 10.0 percent (adjusted for currency effects: 11.4 percent) being achieved in the EMEA region. At almost EUR193.0m, revenue was significantly higher than the prior-year figure of EUR175.4m. This increase was attributable to the stable development in the core markets, Germany and France, and to renewed growth in the UK and some markets of Southern Europe.
The reported revenue in the Americas region decreased by a slight 1.8 percent year-on-year, due to negative currency effects (adjusted for currency effects: +8.1 percent), and amounted to EUR181.6m. The U.S. business, in particular, developed strongly in local currency.
The APAC region achieved growth of 5.2 percent, to EUR239.1m. After adjustment for currency effects, this corresponds to growth of 9.2 percent. Once again, the largest contributions to growth came from China and South Korea.
Adjusted earnings before interest and taxes (EBIT) amounted to around EUR90m. The adjusted EBIT margin amounted to 14.7 percent (prior year: 15.2 percent). The decline is primarily attributable to negative currency effects and targeted investments in research and development and sales and marketing.
Earnings per share declined to EUR0.63 (prior year: EUR0.76). It was, however, predominantly non-operating factors that contributed to this, such as, in particular, the one-time proceeds in the prior year from the disposal of assets at the Ontario site, and the increase in the number of outstanding shares following the capital increase in March 2017.
Carl Zeiss Meditec AG expects revenue to be in a range of EUR1,230m to EUR1,280m for fiscal year 2017/18. The EBIT margin is expected to be within the range also forecast for the medium term, of 14 to 16 percent on an adjusted basis.
Revenue by strategic business unit
| All figures in EURm | 6 Months 2017/18 | 6 Months 2016/17 | Change from prior year | Change from prior year (adjusted for currency effects) |
| Ophthalmic Devices | 449.3 | 433.1 | +3.7% | +8.6% |
| Microsurgery | 164.4 | 154.4 | +6.5% | +12.2% |
| Total | 613.7 | 587.5 | +4.5% | +9.5% |
Revenue by region
| All figures in EURm | 6 Months 2017/18 | 6 Months 2016/17 | Change from prior year | Change from prior year (adjusted for currency effects) |
| EMEA | 193.0 | 175.4 | +10.0% | +11.4% |
| Americas | 181.6 | 184.9 | -1.8% | +8.1% |
| APAC | 239.1 | 227.2 | +5.2% | +9.2% |
| Total | 613.7 | 587.5 | +4.5% | +9.5% |
Contact for investors and press
Sebastian Frericks
Director Investor Relations Carl Zeiss Meditec AG
Phone: + 49 (0)3641 220-116
Email: [email protected]
15.05.2018 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.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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] |
| Internet: | www.zeiss.de/meditec-ag/ir |
| ISIN: | DE0005313704 |
| WKN: | 531370 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |