JENA, Germany—Carl Zeiss Meditec (CZMWF.PK), a manufacturer of optical systems, reported revenue of €470.3 million in the first quarter of fiscal year 2022/23, corresponding to growth of 14.6 percent. Prior year revenue for the same period was €410.2 million. Orders on hand remained high at over €600 million. Earnings before interest and taxes (EBIT) decreased to around €60.3 million (prior year: €74.4 million). The EBIT margin was 12.8 percent with prior year at 18.1 percent, according to an announcement from the company.

“In a challenging environment with continued pressure on the supply chains and lockdowns in the important Chinese market, we still managed to achieve further growth. Our team is pulling out all the stops to reduce delivery time for our customers. At the same time, we are also continuously investing in our future growth,” said Dr. Markus Weber, president and CEO of Carl Zeiss Meditec.

Revenue in the strategic business unit ophthalmology (previously ophthalmic devices) increased by 15.2 percent in the first quarter of fiscal year 2022/23 to €358.2 million from the prior year of €310.9 million. Surgical ophthalmology and diagnostics made a solid contribution to growth, according to the company.

Revenue in the EMEA region increased by 7 percent to €122.1 million (prior year: €114.1 million). Southern Europe is making positive contributions to growth, while the core markets Germany, France, Italy and Spain present a heterogeneous picture, the company noted.

Revenue in the Americas region increased by a significant 22.2 percent from €114.5 million to €139.9 million. This result is attributable to both the U.S. market and Latin America, which achieved double-digit percentage growth.

Despite solid revenue growth, the operating result declined in the first quarter of fiscal year 2022/23, to €60.3 million from prior year €74.4 million.

In spite of geopolitical risks and an increasingly difficult macroeconomic environment, the company expects further market growth for the remainder of the year. Revenue is expected to grow at least to the same extent as the market, according to the company.