Quarterly Report of Carl Zeiss Meditec AG: Carl Zeiss Meditec accelerates growth

JENA/Germany, 10.08.2018. After nine months 2017/18, Carl Zeiss Meditec AG was able to achieve further encouraging growth in all strategic business units and regions: Revenue increased by 7.1 percent (adjusted for currency effects, 11.7 percent), to 926.3m (prior year: 864.7m). Earnings before interest and taxes (EBIT) rose slightly, to 134.8m (prior year: 132.6m). The adjusted EBIT margin remained stable at 14.8 percent (prior year: 14.7 percent). Earnings per share reached 0.92 (prior year: 1.10).




As already announced in early July, given the positive revenue growth in the third quarter, the revenue forecast for fiscal year 2017/18 was increased slightly to 1,250m - 1,300m. I am particularly pleased that both Strategic Business Units and all regions once again contributed significantly to this. The positive development of our latest product innovations validates our strategy to further drive forward the development of innovative solutions in the medical sector and to further expand our global orientation, said Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG, commenting on the result.

Solid growth in both strategic business units

The Ophthalmic Devices strategic business unit (SBU) increased its revenue by 6.4 percent in the first nine months of the current fiscal year (adjusted for currency effects: 10.7 percent), to 681.0m, compared with 639.9m in the same period of the prior year. The laser systems business for refractive vision correction and diagnostic instruments developed particularly well. There was also continued solid demand for intraocular lenses for the treatment of cataracts.


Revenue in the Microsurgery SBU grew by 9.1 percent (adjusted for currency effects: 14.3 percent). Revenue from surgical microscopes and visualization solutions climbed to 245.2m, compared with 224.8m in the prior year. This was particularly due to the new KINEVO 900 visualization system for neurosurgeons.

Strong organic growth in all regions

Revenue in the EMEA region increased by 8.6 percent (adjusted for currency effects: 10.0 percent) to almost 282.0m (prior year: 259.6m). This increase was attributable to the stable development in the core markets Germany and France, and to solid growth in the UK and Southern Europe.


On a currency adjusted basis, revenue in the Americas region grew by 11.7 percent to 279.3m (prior year: 272.5m). Due to negative currency effects, reported revenue only grew slightly by 2.5 percent year-on-year. The positive trend in the US market continued.


The Asia/Pacific region (APAC) grew by 9.7 percent, to 364.9m (prior year: 332.6m). After adjustment for currency effects, this corresponds to an increase of 13.0 percent. The largest contributions to growth came from China and South Korea.


Earnings per share declined to 0.92 (prior year: 1.10). It was, however, predominantly non-operating factors that contributed to this, specifically the one-time proceeds from the sale of non-strategic assets in the prior year, a negative currency result and the increase in the number of outstanding shares following the capital increase in March 2017.


Carl Zeiss Meditec confirms its revenue projections for fiscal year 2017/18 as published in the ad hoc disclosure dated 3 July 2018. Revenue is expected to be within the range of 1,250m 1,300m (previously: 1,230m 1,280m). The EBIT margin is expected to remain within the range of 14 percent to 16 percent on an adjusted basis.

Revenue by strategic business unit

Revenue by region