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Increase in sales by 4.4% to EUR 141.8 million (prev. year: 135.8 million) in the first quarter – High level of acceptance and good order intake with new productsRTF Documents
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Carl Zeiss, Inc.
Carl Zeiss Meditec


JENA/Germany, 14.02.2008.
Medical technology supplier Carl Zeiss Meditec AG, listed in the TecDAX at the German Stock Exchange (ISIN DE0005313704), today published its financial statements for the first quarter of 2007/2008 (1 October – 31 December 2007). Accordingly, Carl Zeiss Meditec generated consolidated revenue of EUR 141.8 million (previous year EUR 135.8 million) and anticipates sturdy growth for the current financial year 2007/2008 despite the weak markets in individual countries. In particular, due to the current reluctance of US customers to invest, EBIT stood at EUR 14.5 million (previous year EUR 16.9 million), corresponding to an EBIT margin of 10.2% (previous year 12.4%). Consolidated net income after minority interest, however, increased in the first three months of 2007/2008 compared with the previous year (EUR 10.1 million), by 14.2% to EUR 11.6 million. Earnings per share after minority interest in the first three months of 2007/2008 reached EUR 0.14 (previous year: EUR 0.16). The reason was the increase in the average number of outstanding shares from 64.9 million to 81.3 million.

“Thanks to our strong global market position we have been able to compensate for the decrease in sales in the USA in the first quarter of 2007/2008,” said Ulrich Kraus, President and CEO of Carl Zeiss Meditec. “Especially in Europe and Asia we recorded an encouraging trend in sales. The positive order intake and high degree of customer acceptance of new products give us good grounds for optimism for the remaining of the financial year.”

The “Ophthalmic Systems” strategic business unit accounted for almost half (45.0%) of Carl Zeiss Meditec’s consolidated revenue in the first three months of financial year 2007/2008 (previous year: 57.1%). Consolidated revenue in this SBU decreased by 17.8% year-on-year from EUR 77.6 million to EUR 63.8 million. Consolidated revenue in the reporting period was impacted by exchange rate developments and the reluctance to invest in the USA. In the “Surgical Ophthalmology” SBU Carl Zeiss Meditec generated consolidated revenue of EUR 18.8 million (previous year: EUR 12.3 million). In addition to the encouraging sales trend with new intraocular lenses, this growth was also attributable to the first-time consolidation of ophthalmic surgery specialist Acri.Tec AG. The share in consolidated revenue reached 13.3% (previous year: 9.1%). In the first three months of financial year 2007/2008 the Group’s “Neuro/ENT” SBU generated revenue of EUR 59.1 million (previous year: EUR 45.9 million). The share of this SBU in consolidated revenue of Carl Zeiss Meditec stood at 41.7% (previous year: 33.8%).

The “Americas” region, mainly consisting of the United States, continued to be the strongest contributor to sales in the first three months of financial year 2007/2008. Compared to the previous year (EUR 64.1 million) consolidated revenue in the “Americas” decreased by 19.3% to EUR 51.7 million. The reasons for this were the effects of exchange rates on the conversion of US dollar sales to euros and what was in the company’s opinion a temporary reluctance of US customers to invest. The share in consolidated revenue in this region decreased to 36.5% (previous year: 47.1%). Consolidated revenue in the “Europe, Middle East and Africa” region (“EMEA”) increased by 24.0% to EUR 39.3 million compared to the previous year (EUR 48.7 million). Besides the first-time consolidation of Acri.Tec AG this growth was attributable to positive sales trends for innovative diagnostic equipment, surgical microscopes and intraocular lenses. The share in consolidated revenue increased to 34.3% (previous year: 28.8%). Consolidated revenue in the Asian/Pacific Region increased by about a quarter from EUR 22.6 million in the previous year to EUR 28.3 million. This region was thus responsible for 20.0% (previous year: 16.7%) of the total revenue of Carl Zeiss Meditec. In Germany, Carl Zeiss Meditec generated consolidated revenue of EUR 13.1 million (previous year: EUR 9.9 million) in the first three months of 2007/2008. This increase of 32.5% is primarily due to the first-time consolidation of Acri.Tec AG. Carl Zeiss Meditec thus generated 9.2% of its consolidated income in this regional market (previous year: 7.3%).

As of 31 December 2007 the value of orders on hand rose to EUR 66.2 million (30 September: EUR 57.4 million). Order intake over all regions thus increased by about 17% compared to the previous year.

The company’s equity ratio as of 31 December 2007 rose to 70.4% (30 September 2007: 69.1%). On account of the acquisition of Acri.Tec AG as of 31 December 2007 net cash totalled EUR 204.8 million (30 September 2007: EUR 223.7 million).

As of 31 December 2007 Carl Zeiss Meditec AG employed a worldwide workforce of 2,087 (previous year: 1,891).

“We currently assume that the US market weakness and, as a consequence, the hesitant investments by our customers in that region will be temporary. We therefore anticipate, based on current exchange rate levels, a consolidated revenue in the range between EUR 600 million and EUR 620 million and an EBIT margin of 11-12% for the financial year 2007/2008”, says Ulrich Krauss, President and CEO of Carl Zeiss Meditec AG.


Patrick Kofler
Director Investor Relations
Phone: +49 3641 220-106
Fax: +49 3641 220-117
E-Mail: investors@meditec.zeiss.com

Number: 0040-2008-ENG OP

Number of Words: 859
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