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| Datum : | 09.05.2014 |
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DGAP-News: Carl Zeiss Meditec reports revenue growth at end of first six months |
| Meldung : | DGAP-News: Carl Zeiss Meditec AG / Key word(s): Half Year Results Carl Zeiss Meditec reports revenue growth at end of first six months 09.05.2014 / 07:01 --------------------------------------------------------------------- Carl Zeiss Meditec reports revenue growth at end of first six months Recovery from first-quarter decline, despite persistently negative currency effects JENA, 9 May 2014 A persistently high demand for innovative intraocular lenses and solutions for microsurgery boosted business for medical technology company Carl Zeiss Meditec AG in the first six months of financial year 2013/2014. Aided by an extraordinarily strong business in Japan, the Company managed - in spite of persistently unfavourable currency effects - to recover from the decline in the first quarter. Revenue increased by around 4 percent year-on-year, to EUR 461 million; earnings before interest and taxes reached EUR 63.7 million, which is almost the same as the previous year. For the first time, the Company has released a forecast for the year as a whole concerning the further course of business, together with the figures for the quarter. All strategic business units (SBUs) contributed to the Company's growth. Once again, development in the regions was mixed. As in the previous quarters, currency effects had a negative impact. "Overall, we are satisfied with this performance; we are particularly encouraged by the double-digit organic growth of our Surgical Ophthalmology business unit," says Dr Ludwin Monz, President and CEO of Carl Zeiss Meditec AG. "The strong demand for our innovative intraocular lenses helps us to gain additional market shares in this attractive growth market. Given the persistent adverse effects of unfavorable exchange rates and the ongoing fierce competitive pressure in diagnostics, we can consider the very encouraging contributions to growth from the Microsurgery SBU as another very positive sign." Revenue by business unit After a restrained first quarter, the Microsurgery SBU achieved double-digit growth in the second quarter, resulting in revenue on a par with the previous year in the first six months. Revenue increased by a total of 0.3 percent in the first six months, to EUR 207.3 million - also driven by surge in business due to a forthcoming VAT increase in Japan. The development of business of the Ophthalmic Systems SBU was varied. The diagnostic equipment business continued to be adversely effected by fierce competitive pressure, while the division for refractive lasers for the correction of myopia made the largest contribution to growth and profit. Below the line, this SBU achieved growth of 2.5 percent and revenue of EUR 180.2 million in the first six months of the financial year. It was the Surgical Ophthalmology SBU, once again, that shone with the highest growth rates of all the SBUs. Revenue here increased sharply compared with the previous year, by 21.5 percent to EUR 73.4 million. The figures included Aaren Scientific for the first time, which was acquired at the start of the year. However, even without taking this acquisition into account, the SBU achieved double-digit organic growth. Revenue by region The EMEA region (Europe, Middle East and Africa) grew in the reporting period - with very varied development in the individual markets - by 3.8 percent, to EUR 158.5 million (previous year: EUR 152.6 million). Although Southern Europe recovered somewhat and Germany was stable, business in Russia suffered, as in the previous quarter, due to the expiry of government economic stimulus plans, which had previously resulted in very dynamic market growth. The Americas region was steady in the first six months. In euro terms, business declined by 1.5 percent here; adjusted for currency effects, the region would have reported growth of 1.9 percent. The extremely positive development of the Asia/Pacific region was diminished by massive foreign currency losses and very restrained market development in India. In turn, an extraordinary growth rate in Japan - after adjustment for currency effects - was partly due to a forthcoming tax increase. Overall, the region achieved revenue growth of 9.8 percent, to EUR 160.8 million. Outlook As reported, the medical technology company set itself the objective to increase its revenue at least in line with the rate of market growth in the financial year. In terms of a quantitative forecast, the Company's Management Board anticipates a revenue corridor of EUR 910 to 940 million for the financial year as a whole, based on the six-month figures. This equates to growth of between 0.4 and 3.7 percent. At the same time, Carl Zeiss Meditec AG continues to feel committed to increasing its EBIT margin, which was down slightly compared with the previous year in the first six months, at 13.8 percent, to 15 percent by 2015. Ludwin Monz: "We feel well equipped to cope, even with the challenges of volatile markets. Our global presence and our substantial and targeted investments in research and development put us into the position to successfully continue our course of growth." Sales by strategic business unit Figures in EUR '000 6 months 2012/ 6 months 2013/ Change from previous 2013 2014 year Ophthalmic Systems 175,766 180,192 2.5% Surgical 60,459 73,437 21.5% Ophthalmology Microsurgery 206,732 207,293 0.3% Revenue by region Figures in EUR 6 months 2012/ 6 months 2013/ Change from previous '000 2013 2014 year EMEA 152,625 158,464 3.8% Americas 143,875 141,663 -1.5% Asia/Pacific 146,457 160,795 9.8% Press contact: Jann Gerrit Ohlendorf, Director Corporate Communications, Carl Zeiss Meditec AG Tel. +49 (0)3641 220-331, E-mail: press.meditec@zeiss.com Investors contact: Sebastian Frericks, Director Investor Relations, Carl Zeiss Meditec AG Tel. 49 (0)3641 220-116, E-mail: investors.meditec@.zeiss.com www.meditec.zeiss.de/press End of Corporate News --------------------------------------------------------------------- 09.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------- Language: English Company: Carl Zeiss Meditec AG Göschwitzer Str. 51-52 07745 Jena Germany Phone: +49 (0)3641 220-0 Fax: +49 (0)3641 220-112 E-mail: investors.meditec@zeiss.com,info.meditec@zeiss.com Internet: www.meditec.zeiss.de ISIN: DE0005313704 WKN: 531370 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 267447 09.05.2014 |
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