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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