Carl Zeiss Meditec Reports Solid Gains for Year to Date

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JENA, Germany—Carl Zeiss Meditec AG (ISIN: DE 0005313704) reported revenue of €926.3 million for the first nine months of its 2017/2018 fiscal year ended June 30, 2018, a 7.1 percent revenue increase over year ago, or 11.7 percent, adjusted for currency effects. Earnings before interest and taxes (EBIT) rose slightly, to €134.8 million versus €132.6 million in the prior year. The adjusted EBIT margin remained stable at 14.8 percent compared with 14.7 percent in the prior year, according to Carl Zeiss Meditec.

“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.

The Ophthalmic Devices strategic business unit (SBU) increased its revenue to €681.0 million in the first nine months of the current fiscal year, up 6.4 percent from year ago, or 10.7 percent adjusted for currency effects. Zeiss said its laser systems business for refractive vision correction and diagnostic instruments developed particularly well, as well as continued solid demand for its intraocular lenses.

Revenue in the Europe/Middle East/Africa region increased to almost €282.0 million, up 8.6 percent versus year ago, or 10.0 percent adjusted for currency effects. Zeiss attributed the increase to the stable development in the core markets Germany and France, and to solid growth in the U.K. and Southern Europe.

On a currency adjusted basis, revenue in the Americas region grew by 11.7 percent to €279.3 million versus €272.5 million in the prior year. Due to negative currency effects, reported revenue only grew slightly by 2.5 percent year-on-year. The positive trend in the U.S. market continued, Zeiss said. The Asia/Pacific region grew by 9.7 percent, to €364.9 million, up from €332.6 million year ago. 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, according to Zeiss.