Quarterly Report: Carl Zeiss Meditec AG Starts New Fiscal Year 2017/18 With Solid Revenue Growth

JENA/Germany, 12.02.2018. Following on from its strong year-end results, Carl Zeiss Meditec AG continued its growth trend in the first quarter of 2017/18. Revenue increased by 5.3 percent (adjusted for currency effects: 9.5 percent), to 294.7m (prior year: 280.0m). Earnings before interest and taxes (EBIT) amounted to 38.9m; the adjusted EBIT margin was 13.5 percent (prior year: 13.4 percent).

Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG, had the following to say about results for the quarter: Our Company remains on course for growth, with encouraging contributions from both strategic business units and all regions. Targeted investments in refreshing our product portfolio in the areas of Ophthalmology and Microsurgery and in our global presence are therefore paying off for us.

Highest Growth Rate In Microsurgery SBU

The Ophthalmic Devices strategic business unit (SBU) increased its revenue by 4.2 percent in the first quarter of the current fiscal year (adjusted for currency effects: 8.2 percent), to 216.3m, compared with 207.6m in the same period of the prior year. This increase is attributable to all product areas from ophthalmic diagnosis products through to lasers for refractive correction and intraocular lenses for cataract treatments, our business continued to grow.

Revenue in the Microsurgery SBU grew by 8.2 percent (adjusted for currency effects: 13.4 percent). Revenue from surgical microscopes and visualization solutions climbed to 78.4m, compared with 72.4m in the prior year.

Solid Growth In All Reporting Regions

Revenue in the EMEA region increased by 8.9 percent (adjusted for currency effects: 10.8 percent), resulting in total revenue of 91.2m (prior year: 83.7m). Business in the core markets of Germany and France developed well.

Revenue in the Americas region remained stable, increasing by 3.9 percent (adjusted for currency effects: 11.8 percent) to 94.1m (prior year: 90.5m).

Once again, there was a positive trend in the Asia/Pacific (APAC) region. At 109.5m, revenue was significantly higher than the prior-year figure of 105.8m an increase of 3.5 percent (adjusted for currency effects: 6.6 percent). A large part of this growth is attributable to the Chinese market, as well as South Korea.

Earnings per share (EPS) amounted to 0.32, which was down slightly compared with the prior-year EPS of 0.38. This decrease is mainly due to the proceeds generated on the disposal of assets at the Ontario site, which were recognized in the first quarter of fiscal year 2016/17.

Carl Zeiss Meditec AGs objective for fiscal year 2017/18 continues to be to grow at at least the same rate as the underlying market. 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

Revenue By Region