Carl Zeiss Meditec makes successful start to financial year 2010/2011

Revenue is 18.6% higher than in previous year

15-Feb-2011 - Germany

Carl Zeiss Meditec has made a successful start to the new financial year 2010/2011 (as of 31 December 2010). Revenue and earnings increased further in comparison with the same period of the previous year. The positive development of earnings was driven significantly by the strategic business units Ophthalmic Systems and Microsurgery. Regionally, the Asia/Pacific region is still showing the highest growth rate. However, the Americas and EMEA (Europe, Middle East and Africa) also contributed to the successful start to business.

"Based on the the encouraging sales in the first quarter, we are feeling extremely optimistic about the financial year ahead and are aiming for revenue of between EUR 720 million and EUR 750 million - provided trends in the regions do not change and there is no currency-related turbulence", says Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG.

Key figures at a glance

In the first quarter, Carl Zeiss Meditec generated consolidated revenue of EUR 185.2 million. This corresponds to an increase of 18.6% year-on-year, which was also boosted in part by positive currency effects. With revenue growth of 21.8%, the strategic business unit Microsurgery is the most successful business unit. Drivers of growth were the surgical microscopes OPMI PENTERO and OPMI LUMERA; demand for the intraoperative radiation system, INTRABEAM, is also rising significantly. The largest business unit, Ophthalmic Systems, accounted for a 47.6% share of consolidated revenue; its top-selling products were the refractive laser systems and the diagnostic device Cirrus HD-OCT.

All reporting regions of Carl Zeiss Meditec contributed to revenue growth. The Asia/Pacific region shows currency-adjusted growth of 19.3%. The boom in the Americas region continues, with revenue increasing to EUR 68.5 million (previous year: EUR 57.4 million), corresponding to revenue growth of 19.3% (adjusted for currency effects: 11.0%). Development in the EMEA region was also encouraging: revenue increased by 8.6% to EUR 63.5 million. Carl Zeiss Meditec is benefiting once more from its diversified portfolio and global orientation.

Earnings before interest and taxes (EBIT) rose to EUR 24.0 million (previous year: EUR 18.7 million), and thus increased by 28.5% more than consolidated revenue. The EBIT margin increased in the first quarter of 2010/2011, from 12.0% to 13.0%. Carl Zeiss Meditec AG wants to grow sustainably. Its current EBIT underlines the success of this strategy.

Carl Zeiss Meditec further expanded its research and development activities in the first quarter of 2010/2011 and invested a total of EUR 19.3 million (previous year: EUR 16.2 million) in research and development. The R&D ratio was increased to 10.4% (previous year: 10.3%). In the current financial year, Carl Zeiss Meditec shall intensify its research activities in growth markets and, with its own application and research center in India, shall work even more closely with its customers on site.

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