Quarterly Results: Carl Zei Meditec AG benefits from currency effects

JENA/Germany, 07.08.2015.

Aided by positive currency effects, medical technology company Carl Zeiss Meditec AG increased its revenue by 11.1 percent in the first nine months of financial year 2014/15, to 748.7 million (previous year: 673.7 million); after adjustment for currency effects, this corresponds to growth of 5.4 percent. At 89.5 million, EBIT was once again lower in this quarter compared with the previous year ( 92.1 million), due to higher R&D expenses; on an adjusted basis, however, an increase of 5.8%, to 99.5 million, would have been recorded. Earnings per share were 9 percent lower than the previous year, amounting to 0.64. Effects at the end of the reporting period, arising from the valuation of currency hedging transactions, continued to have an adverse effect in this respect. The effect was, however, less significant after nine months than at the six-month point in 2014/15.

"Boosted by the exchange rates for key currencies, we further increased our revenue after nine months of 2014/15. Our growth comes from all business areas and regions," says Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG.

Key figures by business unit at a glance

The strongest growth rate was once again achieved by the strategic business unit (SBU) Surgical Ophthalmology, which increased its revenue by 17.3 percent (adjusted for currency effects, 14.2 percent), to 258.5 million (previous year: 220.3 million). Revenue of the Ophthalmic Systems SBU increased by 13.9 percent (adjusted for currency effects, 5.7 percent), to 283.5 million (previous year: 248.9 million).

The Microsurgery SBU generated the least growth, increasing its revenue only slightly, to 206.7 million (previous year: 204.5 million). On an adjusted basis, the surgical microscopes and visualization solutions business would have recorded a decline of 4.1 percent. Revenue in Japan, in particular, which is of special significance for this business unit, declined compared with a strong figure the previous year.

Revenue by region

The distribution of revenue across the regions in the first nine months of the financial year reflects the general growth trend and the fluctuation of currencies:

In the EMEA region (Europe, Middle East and Africa), revenue increased by 8.5 percent, to 261.9 million. Significant growth was achieved in Germany and the United Kingdom, in particular. In the Americas region, the recovery of the U.S. market and the strength of the U.S. dollar led to an 18.8 percent jump in revenue; adjusted for currency effects, however, this growth would have amounted to just 3.7 percent. In the APAC (Asia/Pacific) region, which reported an increase in revenue of 6.4 percent, to 231.6 million, high growth rates from China and India were offset by a declining trend in the Japanese market.

Based on the very solid development overall and a product range with strong unique selling points, the Company is aiming to secure its competitive strength in the long term through process and cost optimization measures and targeted investments in new areas of growth. The projections for the financial year remain the same: "We are looking ahead with cautious optimism and are aiming for an EBIT margin adjusted for strategic upfront R&D investments of between 13 and 15 percent. Our projected revenue target for the current financial year is still set at a corridor of 960 million to 1,000 million," says Ludwin Monz.

Revenue by strategic business unit

Figures in EUR 000 9 Months 2013/14 9 Months 2014/15 Change from prev. year Change from prev. year

(adjusted for currency effects)

Ophthalmic Systems 248,939 283,542 13.9% 5.7%

Surgical Ophthalmology 220,308 258,506 17.3% 14.2%

Microsurgery 204,476 206,653 1.1% - 4.1%

Revenue by region

Figures in EUR 000 9 Months 2013/14 9 Months 2014/15 Change from prev. year Change from prev. year

(adjusted for currency effects)

EMEA 241,391 261,932 8.5% 8.0%

Americas 214,745 255,153 18.8% 3.7%

APAC 217,587 231,616 6.4% 4.5%

Jann Gerrit Ohlendorf

Director Corporate Communications

Carl Zeiss Meditec AG

Phone: 49 3641 220-331

Fax: 49 3641 220-332

press.meditec@zeiss.com

Sebastian Frericks

Director Investor Relations

Carl Zeiss Meditec AG

Phone: 49 3641 220-116

investors.meditec@zeiss.com

Carl Zeiss Meditec AG

Carl Zeiss Meditec AG (ISIN: DE 0005313704), which is listed on TecDAX of the German stock exchange, is one of the world's leading medical technology companies. The Company supplies innovative technologies and application-oriented solutions designed to help doctors improve the quality of life of their patients. It provides complete packages of solutions for the diagnosis and treatment of eye diseases, including implants and consumable materials. The Company creates innovative visualization solutions in the field of microsurgery. Carl Zeiss Meditec AGs medical technology portfolio is rounded off by promising future technologies such as intraoperative radiation therapy. With almost 3,000 employees, the Group generated revenue of 909 million in financial year 2013/2014 (to 30 September).

The head office of Carl Zeiss Meditec Group is in Jena, Germany. The company has subsidiaries in Germany and abroad; more than 50 percent of its employees are based in the USA, Japan, Spain and France. The Center for Application & Research (CARIn) in Bangalore, India and the ZEISS Innovations Center for Research and Development in Shanghai, China, strengthen the Companys presence in these rapidly developing economies. Around 35 percent of Carl Zeiss Meditec AG shares are in free float. The remaining approx. 65 percent are held by Carl Zeiss AG, one of the world's leading groups in the optical and optoelectronic industries.

For more information visit our website at:

www.meditec.zeiss.com/med

Number: 0097-2015-EN

LINK:	http://applications.zeiss.com/C1256A770030BCE0/WebViewTopNewsAllE/6B72...
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