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| Carl Zeiss Meditec |
| High growth in Asia and Europe produces substantial increase in revenue in second quarter of 2007/2008; consolidated net income rises by about 35% | Downloads and Links | ||
| Total revenue in first six months grows by 6.1% to EUR 299.4 million (previous year: EUR 282.1 million), Asia/Pacific +26.0%, Europe +21.3% – order intake 13.6% above previous year | RTF Documents
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| JENA/Germany, 13.05.2008. In the first six months of the financial year 2007/2008 (1 October – 31 March 2008) medical technology supplier Carl Zeiss Meditec AG, listed in the TecDAX at the German Stock Exchange (ISIN DE0005313704), achieved a 6.1% increase in its consolidated revenue to EUR 299.4 million compared to the same period of the previous year (EUR 282.1 million). A high increase in sales in the “Europe, Middle-East and Africa” and “Asian/Pacific” regions more than compensated for the continued restrained market development in the USA, combined with the effects of exchange rates resulting from the weak US dollar. Following modest growth in the first quarter of the current financial year, 7.8% growth for the second quarter represented a substantial improvement. If compared on a similar basis to the previous year, i.e. adjusted for all acquisitions and assuming a constant exchange rate, like-for-like revenue growth for this period amounts to 9.5%. In the first half year 2007/2008 there was slight increase of 1.8% in EBIT to EUR 33.6 million compared to last year’s figure of EUR 33.0 million. The EBIT margin stood at 11.2% compared to 11.7% last year. In the second quarter of 2007/2008 the EBIT margin stood at 12.1%. There has been a substantial improvement in consolidated net income after minority interest. In the first six months of 2007/2008 the latter rose to EUR 24.5 million compared to EUR 19.7 million last year. Despite the increased number of shares overall, earnings per share after minority interest improved by 11.1% from EUR 0.27 to EUR 0.30. “In the reporting period we made use of the advantages of our worldwide presence and balanced product portfolio in a partly adverse environment,” said Ulrich Krauss, President and CEO of the Carl Zeiss Meditec. “In particular, the second quarter results have confirmed the confidence of our customers in our innovations.” The “Ophthalmic Systems” strategic business unit accounted for almost half (45.3%) of Carl Zeiss Meditec’s consolidated revenue in the first six months of financial year 2007/2008 (previous year: 51.6%). Consolidated revenue in this SBU decreased by 6.8% year-on-year from EUR 145.6 million to EUR 135.7 million, mainly as a consequence of exchange rates. In addition to the trend in exchange rates, this development was severely impacted by the current adverse economic conditions in the USA as the largest regional market. In the “Surgical Ophthalmology” strategic business unit Carl Zeiss Meditec generated consolidated revenue of EUR 38.0 million (previous year: EUR 25.7 million). In addition to the encouraging performance of new products, the revenue increase of 47.8% is partly attributable to the first-time consolidation of Acri.Tec AG. This SBU accounted for 12.7% of the consolidated revenue of Carl Zeiss Meditec (previous year: 9.1%). In the first six months of financial year 2007/2008 the Group generated revenue of EUR 125.7 million (previous year: EUR 110.7 million) in its “Neuro-/ENT Surgery” SBU. The “Neuro-/ENT Surgery” SBU generated a share of 42.0% (previous year: 39.3%) of consolidated revenue. In the first six months of financial year 2007/2008 the Europe, Middle-East and Africa region (EMEA) was for the first time the strongest contributor to sales. Compared to the previous year (EUR 83.4 million), consolidated revenue in the EMEA rose by 21.3% to EUR 101.2 milion. In addition to the first-time consolidation of Acri.Tec AG, Carl Zeiss Meditec achieved significant revenue in this region with innovative diagnostic systems, surgical microscopes and intraocular lenses. The proportion of consolidated revenue generated by this region showed a year-on-year increase from 29.6% to 33.7%. In the first six months of financial year 2007/2008 consolidated revenue in the “Americas" region, focusing on the United States, decreased by 18.4% to EUR 100.5 million compared to the previous year (EUR 123.0 million), which is to a large extent attributable to the exchange rate trends between the US dollar and the Euro. In addition, continued adverse economic conditions in the USA led to a reluctance to invest. This region’s share in consolidated revenue declined year-on-year to 33.6% (previous year: 43.6%). Compared to the previous year, consolidated revenue in the Asia/Pacific region increased by 26.0% to EUR 71.8 million (previous year: EUR 57.0 million). This region was thus responsible for 24.0% (previous year: 20.2%) of the total revenue of Carl Zeiss Meditec. In Germany, Carl Zeiss Meditec generated consolidated revenue of EUR 26.0 million (previous year: EUR 18.7 million) in the first six months of financial year 2007/2008. This increase of 39.2% is not insubstantially attributable to the first-time inclusion of Acri.Tec AG in Carl Zeiss Meditec’s reporting entity. The share of consolidated revenue generated by Germany as a regional market increased to 8.7% (previous year: 6.6%). The company’s equity ratio as of 31 March 2008 stood at 68.4% (30 September 2007: 69.1%). Due to the payment of a regular dividend, special dividend and the acquisition of Acri.Tec, as of 31 March 2008 net cash stood at EUR 177.4 million (30 September 2007: EUR 223.7 million). As of 31 March 2008 Carl Zeiss Meditec AG employed a worldwide workforce of 2,115 (previous year: 1,922). “Despite the continued adverse exchange rate relations, we are adhering to our prognosis for the financial year 2007/2008 as a whole, as announced in the first quarter of 2007/2008,” said Ulrich Krauss, President and CEO of Carl Zeiss Meditec AG. “On the basis of current business and macro-economic data we are thus anticipating consolidated revenue of EUR 600–620 million and an EBIT margin of 11–12%.” Patrick Kofler Director Investor Relations Phone: +49 3641 220-106 Fax: +49 3641 220-117 E-Mail: investors@meditec.zeiss.com Number: 0101-2008-ENG OP Number of Words: 959 Number of Signs: 6123 |
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