BUSINESS Carl Zeiss Meditec Stays on Growth Track in Fiscal Year 2021/22 By Staff Monday, December 12, 2022 12:24 AM JENA, Germany—Carl Zeiss Meditec reported revenue of around €1,903 million in fiscal year 2021/22 versus €1,647 million in the prior year, a 15.5 percent increase (up 13.3 percent, adjusted for currency effects). Orders received increased even more significantly to around €2,251 million, up 30.1 percent (up 27.7 percent, adjusted for currency effects), according to Meditec, based here. Earnings before interest and taxes (EBIT) increased to around €397 million, versus €374 million in the prior year. The EBIT margin was 20.9 percent compared with 22.7 prior year.“Once again, we are looking back on a very successful fiscal year,” said Dr. Markus Weber, president and CEO of Carl Zeiss Meditec AG. “Given the heightened geopolitical and macroeconomic risks and the rising inflation rate, we are extremely satisfied with the result achieved. Due to the well filled order books and steady demand for our innovations, we are confident that we will remain on a growth course in 2022/23.” Revenue in Meditec’s strategic business unit (SBU) Ophthalmic Devices increased by 17.0 percent in fiscal year 2021/22 (15 percent adjusted for currency effects to €1,469 million versus €1,256 million in the year-ago period). In particular, the business with recurring revenue from consumables, implants and services made a significant contribution to this growth. Orders received increased from €1,319 million to €1,721 million, up 30.5 percent (up 28.3 percent, adjusted for currency effects. In addition to robust demand in the equipment and consumables business, this is also attributable to the increase in production and delivery time in the equipment business due to shortages in the global supply chains and materials procurement, Meditec said. The sales recovery continued in the strategic business unit Microsurgery and also exceeded market growth, with revenue rising by +10.9 percent (up 7.8 percent, adjusted for currency effects) to €434 million, compared with €391 million year-ago. Orders received have recently developed disproportionately to revenue and increased by 28.6 percent (up 25.7 percent adjusted for currency effects), from €412 million to €530 million. Meditec said this was due to both robust demand and an increase in production and delivery time in the equipment business due to strained supply chains, and in materials procurement. Revenue in the EMEA (Europe/Middle, East/Africa) region increased by 6.1 percent (up 6.5 percent, adjusted for currency effects), to €459 million versus €433 million in the prior year. The core markets Germany, France and Southern Europe and the United Kingdom continued to record solid growth, Meditec said. Revenue in the Americas region rose 8.4 percent (down 0.1 percent adjusted for currency effects) to €487 million compared with €449 million year-ago, which Meditec attributed to positive currency effects. After adjustment for currency effects, revenue in the U.S. developed at a roughly constant level compared with the prior year, the company said. Once again, the APAC (Asia/Pacific) region made the strongest contribution to Meditec’s growth. Revenue increased by 25.0 percent (up 25 percent, adjusted for currency effects) to €957 million versus €765 million in the prior year. China and India had the highest growth rates, according to Meditec. The operating result, or EBIT, increased to €397 million in fiscal year 2021/22 versus €374 million in the prior year. In relation to revenue, an EBIT margin of 20.9 percent versus 22.7 percent in the prior year was achieved in fiscal year 2021/22. Adjusted for special effects, this figure was 21.4 percent compared with 23.0 percent in the year-ago period. Carl Zeiss Meditec said its outlook for fiscal year 2022/23 is optimistic, but noted that macroeconomic and political uncertainties, such as the tension in the global supply chains, the high inflation rate, China’s COVID policy and the war between Russia and Ukraine continue to persist. For Q1 2022/23, the EBIT margin is expected to fall significantly short of the prior year’s figure, due among other things to the widespread lockdown situation in China and a weaker product mix as well as rising operating costs. “Assuming that the above-mentioned risk factors do not worsen further in the course of the year, however, revenue growth for fiscal year 2022/23 is expected to be at least as high as market growth, with an EBIT margin of around 19 percent to 21 percent,” Meditec said.