Carl Zeiss Meditec looks back on successful financial year

Above average increase in EBIT/positive development in all strategic business units and reporting regions

JENA/Germany, 8-12-2012 — /europawire.eu/ — Medical technology company Carl Zeiss Meditec AG continued its growth trend in financial year 2011/2012. Revenue climbed 13.6 percent to EUR 861.9 million and thus slightly exceeded the upper limit of the revenue forecast. Earnings before interest and tax (EBIT) rose by 18.7 percent year-on-year, to EUR 122.9 million. All regions and strategic business units contributed to this growth.

With double-digit growth rates in revenue and its operating result, Carl Zeiss Meditec once again grew significantly in the past financial year (ending: 30 September 2012). The medical technology company even slightly exceeded its revenue forecast for financial year 2011/2012, of EUR 830 – 860 million, with revenue growth of 13.6 percent to EUR 861.9 million (previous year: EUR 758.8 million). In addition to increasing its earnings before interest and tax (EBIT) by 18.7 percent to EUR 122.9 million (previous year: EUR 103.6 million), Carl Zeiss Meditec also further increased its profitability: the EBIT margin rose to 14.3 percent, compared with 13.6 percent the previous year. Earnings per share increased to EUR 0.88 (previous year: EUR 0.82). Cash flow from operating activities rose to EUR 92.1 million (previous year: EUR 33.2 million). As announced, the Supervisory Board and Management Board shall propose to the Annual General Meeting a dividend of EUR 0.40 per share for financial year 2011/2012.

Dr. Ludwin Monz, President and CEO of Carl ZeissMeditec AG, gave his take on the positive figures: “We are very pleased with the development of revenue and earnings. In spite of sometimes challenging conditions in the global economy, we achieved growth in all strategic business units (SBUs) and regions.” Profitability continuously improved. “By investing in new products and sales channels we are also simultaneously laying the foundations to make our growth sustainably positive,” said Monz. Carl Zeiss Meditec is well on its way to achieving its EBIT margin target of 15 percent by 2015. “Carl Zeiss Meditec is strate-
gically on target. The well balanced regional distribution of our revenues, which reflects the growing importance of the Asian growth markets, stabilizes our business. The expansion of our service activities and recurring revenue make us less exposed to the typically greater fluctuations in the capital assets business.”

The proportion of employees working in our Research and Development (R&D) department, on the innovations of the future, remains high at around 16 percent. In the reporting year Carl ZeissMeditec invested 10.8 percent of its revenue in R&D.

Revenue by business unit

As in the past few quarters, development in the Microsurgery SBU was markedly positive across all product groups, with total growth of 17.8 percent in the financial year. There was particularly strong demand for surgical microscopes from the field of neuro/ENT surgery. The growth of 17.5 percent in the SBU Surgical Ophthalmology was particularly attributable, once again, to the high demand for intraocular lenses for minimally invasive cataract surgery and the integration of a distribution acquisition in Spain. The growth in the SBU Ophthalmic Systems was driven in particular by a growing demand for innovative lasers for the refractive correction of vision defects. This SBU’s revenue grew by 8.7 percent compared with the previous year.

Revenue by region

With some regional differences, the development of revenue in the EMEA region (Europe, Middle East and Africa) was positive overall. In an unstable market environment, revenue here increased by 11.0 percent: as a result of stable growth in the core markets and a significant increase in revenue in Russia and the Middle East, individual declines in Southern Europe were considerably overcompensated. In the Americas region, the double-digit increase in revenue by 14.2 percent was comparatively higher, which is attributable to a persistently strong demand from the USA, the largest market by far, as well as to encouraging contributions to growth from Latin America. The Asia/Pacific region continues to hold considerable potential for growth. Revenue in this region increased by 15.8 percent.

Outlook

According to the company’s estimates, a growing demand for medical products can be anticipated due to the demographic trend. Current global economic development, on the other hand, is characterized by uncertainties that make a forecast difficult. The objective remains to grow at least as fast as the industry in the markets and regions in which the company operates. Ludwin Monz: “We shall also continue to benefit from our substantial investments in research and development.”

Revenue by strategic business unit

Figures in EUR ‘000	FY 2010/2011	FY 2011/2012	Change from prev. year
Ophthalmic Systems	345,972	375,909	+ 8.7%
Surgical Ophthalmology	91,667	107,741	+ 17.5%
Microsurgery	321,160	378,225	+ 17.8%

Revenue by region

Figures in EUR ‘000	FY 2010/2011	FY 2011/2012	Change from prev. year
EMEA	261,786	290,500	+ 11.0%
Americas	265,964	303,853	+ 14.2%
Asia/Pacific region	231,043	267,522	+ 15.8%

Jann Gerrit Ohlendorf
Director Corporate Communications
Carl Zeiss Meditec AG
Phone: +49 3641 220-331
Fax: +49 3641 220-332
E-Mail:  press.meditec@zeiss.com

Henriette Meyer
Director Investor Relations
Carl Zeiss Meditec AG
Tel.: +49 3641 220-106
Fax:
E-Mail: investors@meditec.zeiss.com

Number: 0150-2012-ENG OP

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