11.02.2015
Carl Zeiss Meditec AG DE0005313704
DGAP-News: Carl Zeiss Meditec AG grows in all business units
DGAP-News: Carl Zeiss Meditec AG / Key word(s): Quarter Results
Carl Zeiss Meditec AG grows in all business units
11.02.2015 / 07:00
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Carl Zeiss Meditec AG grows in all business units
First quarter shaped by revenue increase and higher R&D expenditure
JENA, 11 February 2015
Aided by currency effects, Carl Zeiss Meditec AG started financial year
2014/15 by increasing its revenue by 13.6 percent to EUR 241.1 million
(previous year: EUR 212.3 million). In spite of increased R&D spending,
earnings before interest and taxes (EBIT) reached EUR 27.9 million in the
first quarter (previous year: EUR 26.5 million), which corresponds to an
EBIT margin of 11.6 percent (previous year: 12.5 percent). All three
strategic business units (SBUs) achieved growth in the reporting period;
development in the individual regions varied.
Adjusted for the increase in costs for the strategic research project in
ophthalmology announced in December 2014, the EBIT margin would have been
slightly higher, at 12.9 percent, than the previous year's EBIT margin of
12.6 percent. At EUR 19.4 million, consolidated net income was down by 9.4
percent compared with the same period of the previous year (EUR 21.4
million). This decline was mainly attributable to a significantly lower
result from currency hedging transactions compared with the previous year.
In terms of revenue, currency effects once again contributed to growth,
accounting for around 3 percent, in addition to minor acquisition effects;
on an adjusted basis, growth would have amounted to 9 percent.
Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG, gave his take
on the 3-month figures: "Our company is showing positive development. With
targeted investments in the field of ophthalmology and microsurgery and
with cost-cutting in diagnostics, we are laying the foundations today to
sustainably secure our growth and earnings power in future."
Revenue by business unit
In the first quarter, business development was reported on the basis of a
modified structure for the first time. The presentation of figures since
the beginning of financial year 2014/15 is based on business fields and the
respective, underlying market segments. Accordingly, surgical microscope
for ophthalmic surgery are no longer be allocated to the Microsurgery SBU,
but are instead assigned to the Surgical Ophthalmology SBU. Diagnostic
devices used preoperatively for cataract surgery, which were previously
assigned to the Ophthalmic Systems SBU, are now part of the business of the
Surgical Ophthalmology SBU.
Based on the modified structure, the Microsurgery SBU increased its
revenue, on a comparable basis, by 4.6 percent to EUR 67.8 million
(previous year: EUR 64.8 million), which corresponds to growth of 2.6
percent, after adjustment for currency effects.
The revenue of the Ophthalmic Systems SBU in the new structure
(comparatively) climbed by 13.5 percent to around EUR 91.7 million,
compared with the previous year's figure of EUR 80.8 million, although the
area of diagnostics within this sector continues to be hampered by strong
pricing and competitive pressure, to which the Company shall respond in the
coming financial year with cost-cutting measures. Positive development was
achieved in this SBU in the areas of Refractive Lasers and Service.
Adjusted for currency effects, the SBU's revenue increased by 8.6 percent.
Once again the highest growth rate was achieved by the now newly assembled
Surgical Ophthalmology SBU. This SBU's revenue increased by 22.4 percent,
on a comparable basis, to around EUR 81.6 million (previous year: EUR 66.7
million). Even without taking into consideration the first-time
consolidation of Aaren Scientific Inc., Ontario, California, which
specializes in the manufacture of intraocular lenses, this SBU achieved an
organic growth rate well into the double-digit percentage range.
Development by region
EMEA (Europe, Middle East and Africa): In the EMA region, revenue increased
by 22.7 percent to EUR 86.5 million in the first three months (previous
year: EUR 70.5 million). As in prior quarters, development on the
individual markets is highly heterogeneous. Germany and the UK recorded
strong growth rates; revenue in Southern Europe recovered further - Spain
performed particularly well, due to purchases brought forward in reaction
to an impending VAT increase; business in Russia continues to decline.
Americas: Revenue in the Americas region increased by 4.0 percent, to EUR
80.6 million (previous year: EUR 77.6 million). This region benefited in
particular from the strength of the US dollar. Adjusted for currency
effects, the Americas would have recorded a revenue decline of 3.3 percent.
APAC (Asia/Pacific region): The APAC region achieved a revenue increase of
15.1 percent in the first quarter, to EUR 73.9 million (previous year: EUR
64.2 million). Adjusted for currency effects, growth was on a comparable
scale, at 16.2 percent. As in prior quarters, revenue in Japan continued to
decline after the sharp increase in value added tax in the previous year.
Substantial contributions to growth came from China and Australia.
Outlook
Over the past few months ZEISS has enriched the medical technology industry
with a number of significant product innovations. The CT LUCIA, for
example, an intraocular lens for the standard segment, which is
manufactured at the new Aaren Scientific Inc. site in Ontario (California),
was launched in September 2014. The optical biometry portfolio was also
expanded in September, with the IOLMaster 700. This is a new product
generation, which also includes the highly innovative, integrated SWEPT
Source OCT technology. Ludwin Monz: "Our company has a strong product
portfolio. We have also been able to set new benchmarks in the market with
the successful launch of our new products. We are optimistic in the current
financial year that we will be able to further strengthen our market
position. As announced, our EBIT margin is also expected to remain within
the projected range of 13 to 15 percent throughout the course of the year.
Revenue by strategic business unit 1
Figures in EUR'000 3 Months 3 Months Change from
2013/14 2014/15 previous year
Ophthalmic Systems 80,817 91,742 + 13.5%
Surgical Ophthalmology 66,665 81,570 + 22.4%
Microsurgery 64,797 67,778 + 4.6%
1 For better comparability the previous year's figures have been adjusted
in line with the new structure.
Revenue by region
Figures in EUR'000 3 Months 3 Months Change from
2013/14 2014/15 previous year
EMEA 70,522 86,549 22.7 %
Americas 77,568 80,639 4.0 %
APAC 64,189 73,902 15.1 %
Press contact:
Jann Gerrit Ohlendorf
Director Corporate Communications Carl Zeiss Meditec AG
Phone +49 (0)3641 220-331
E-mail: [email protected]
Investors contact:
Sebastian Frericks
Director Investor Relations Carl Zeiss Meditec AG
Phone: +49 (0)3641 220-116
E-mail: [email protected]
www.zeiss.de/presse
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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: [email protected],[email protected]
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
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