JENA/Germany, 12.12.2007.
Carl Zeiss Meditec AG (ISIN DE0005313704) once again increased its revenues and earnings in the past financial year 2006/2007 (cut-off date 30 September). Consolidated revenue of the medical technology company, listed in the TecDAX at the German Stock Exchange, climbed by about 46% to EUR 569.7 million in financial year 2006/2007 (previous year EUR 390.6 million). The gross margin increased by 4.9 percentage points to 51.9%. EBIT amounted to EUR 70.4 million (previous year: EUR 48.1 million) likewise representing an increase of about 46%. Consolidated net income after minority interests improved disproportionately. At EUR 47.8 million (previous year EUR 26.7 million) the medical technology provider’s earnings after taxes and financial results were about 80% higher than in the previous year. Earnings per share after minority interests amounted to EUR 0.61 (previous year: EUR 0.82). The strong business growth thus compensated to a large extent for the increased number of shares, which more than doubled year-on-year. Cash flow from operating activities rose to EUR 56.1 million and was thus around one-third higher than the corresponding previous-year’s total of EUR 42.9 million.
“Although we have significantly increased our investments in new products and the expansion of sales and marketing activities compared to last year, earnings before interest and taxes increased hand-in-hand with revenue,” said Ulrich Krauss, President and CEO of Carl Zeiss Meditec AG.
“We want our shareholders to participate in the good business development and the continuing positive development of cash flow; at the AGM 2008 we will thus be proposing a dividend of EUR 0.43 per share for financial year 2006/2007. In addition to the regular dividend of EUR 0.16 this means the disbursement of a one-off special dividend of EUR 0.27," added Krauss.
In financial year 2006/2007 Carl Zeiss Meditec generated slightly more than half of its consolidated revenue in the strategic business unit “Ophthalmic Systems” (51.2%, previous year 77.6%). Mostly due to the influence of exchange rates there was a 3.8% drop in revenue compared to the previous year (from EUR 303.1 million to EUR 291.6 million).
In the strategic business unit “Surgical Ophthalmology” Carl Zeiss Meditec posted revenue of EUR 50.0 million (previous year EUR 51.4 million), primarily due to the optimisation of the product portfolio and the associated discontinuation of certain products. The share in consolidated revenue totalled 8.8% (previous year: 13.2%).
Revenue in the strategic business unit “Neuro/ENT” amounted to EUR 228.1 million (previous year: EUR 36.0 million). The reason for the leap in sales was the first-time consolidation of Carl Zeiss Surgical in financial year 2006/2007. The share in consolidated revenue totalled 40.0% (previous year: 9.2%).
The “Americas” region, mainly consisting of the USA, continued to be the major contributor to consolidated revenue in financial year 2006/2007. Carl Zeiss Meditec generated almost half of its revenue (42.8%, previous year: 43.7%) in this region. In financial year 2006/2007 consolidated revenue increased by 42.9% from EUR 170.5 million to EUR 243.8 million in the “Americas” region – primarily due to the first-time consolidation of Carl Zeiss Surgical. Consolidated revenue in the “Europe, Middle East and Africa” region (“EMEA”) increased by 68.9% to EUR 169.3 million compared with the previous year (EUR 100.2 million). The primary contributors to the growth in consolidated revenue were the first- time consolidation of Carl Zeiss Surgical and the positive sales development of diagnostic devices and surgical microscopes. The proportion of consolidated revenue increased compared with the previous-year period from 25.7% to 29.7%. Compared to the previous year, consolidated revenue in the “Asia/Pacific” region increased by 18.6% to EUR 118.8 million (previous year: EUR 100.2 million) in financial year 2006/2007. Overall, the “Asia/Pacific” region’s share of consolidated revenue declined from 25.6% to 20.9% in financial year 2006/2007. In Germany, Carl Zeiss Meditec generated revenue of EUR 37.9 million (previous year: EUR 19.6 million). This increase of 92.8% was primarily due to the inclusion of Carl Zeiss Surgical in the reporting entity of Carl Zeiss Meditec. The share in consolidated revenue increased to 6.6% (previous year: 5.0%).
On the strength of the positive business performance and capital increase in conjunction with the acquisition of Carl Zeiss Surgical in October 2006 the company’s equity ratio increased to 69.1% (30 September 2006: 60.2%).
As of 30 September 2007, Carl Zeiss Meditec AG had 1,929 employees worldwide (previous year: 1,292). This increase on the previous year is due to the first-time consolidation of Carl Zeiss Surgical.
President and CEO Ulrich Krauss announced that the existing path of strategic alignment of the company would be pursued: “We will be expanding our existing business with new products and improved customer care. The networking of our products also offers considerable growth potential. Furthermore, we will be using our good market position in the core markets to advance into attractive neighbouring segments. We aim to combine organic growth and acquisitions as and when appropriate opportunities arise.”
Jens Brajer
Director Corporate Functions
Phone: +49 3641 220-105
Fax: +49 3641 220-117
E-Mail: investors@meditec.zeiss.com
Number: 246/07 OP
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