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MarketScreener Homepage  >  Equities  >  Xetra  >  Carl Zeiss Meditec    AFX   DE0005313704

CARL ZEISS MEDITEC

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Carl Zeiss Meditec : Continued Profitable Growth for Carl Zeiss Meditec in the First Three Months of 2018/19

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02/12/2019 | 08:13am EST

JENA, Germany, Feb. 11 -- ZEISS, a technology enterprise operating in the fields of optics and optoelectronics, issued the following news release:

* * *

- Successful start to new fiscal year, with both strategic business units contributing

* * *

In the first three months of fiscal year 2018/19 Carl Zeiss Meditec generated revenue of Euros323.6m, representing an increase of 9.8% (adjusted for currency effects: +9.0%) compared with the same period of the previous year (prior year: Euros294.7m). Significant growth was posted in the EMEA1 Europe, Middle East, Africa region, particularly in its core markets Germany, France and Southern Europe. Earnings before interest and taxes (EBIT) increased significantly to Euros48.1m (prior year: Euros38.9m). The EBIT margin also increased, to 14.9% (prior year: 13.2%).

"We have made a successful start to the new financial year and were able to further expand our market share in both strategic business units," explains Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG.

Solid growth in both strategic business units

The Ophthalmic Devices strategic business unit (SBU) increased its revenue by 10.7 percent in the first three months of fiscal year 2018/19 (adjusted for currency effects: +9.8 percent), to Euros239.5m, compared with Euros216.3m in the same period of the prior year. This revenue increase was mainly attributable to laser vision correction systems as well as devices and consumables in cataract surgery.

Revenue in the Microsurgery SBU grew by 7.4 percent (adjusted for currency effects: +6.7 percent), to Euros84.2m, compared with Euros78.4m in the same period of the prior year. Sales of neurosurgical visualization systems for the treatment of tumors and vascular disease also remained buoyant.

Significant growth, particularly in the EMEA region

Revenue in the EMEA region increased by 13.5 percent (adjusted for currency effects: +15.1 percent), to Euros103.5m (prior year: Euros91.2m). Germany, France and Southern Europe posted strong revenue growth.

At Euros91.9m (prior year: Euros94.1; -2.3%, adjusted for currency effects: -4.9%), revenue in the first three months of the current fiscal year in the Americas region was slightly below the prior year's figure. This development is primarily attributable to new product launches at the beginning of the 2017/18 fiscal year, which had provided a strong boost to revenue in the same period of the prior year.

The APAC2 region also posted a further increase in its revenue, of 17.1% (adjusted for currency effects: +16.2%) to Euros128.2m (prior year: Euros109.5m).

The operating result (earnings before interest and taxes: EBIT) increased significantly and reached Euros48.1m in the first three months of the current fiscal year (prior year: Euros38.9m). The EBIT margin increased from 13.2 percent to 14.9 percent. Adjusted for special effects, this represented an increase of 15.1% (prior year: 13.5 percent). Earnings of Euros0.32 per share remained at the same level as the previous year.

For fiscal 2018/19, we are expecting to grow at least as fast as our markets, which is confirmed by our business performance in the last three months. We are also holding to our margin target. We are expecting an EBIT margin in the range of 14 to 16 percent in the current fiscal year and in the medium term," said Dr. Monz, confirming the forecast published in December 2018.

Revenue by strategic business unit

To view the table, click here: https://www.zeiss.com/corporate/int/newsroom/press-releases.html?id=quarterly-report-of-carl-zeiss-meditec-ag-01_2019

© 2019 Targeted News Service, source News Service

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Financials (€)
Sales 2019 1 415 M
EBIT 2019 229 M
Net income 2019 157 M
Finance 2019 661 M
Yield 2019 0,81%
P/E ratio 2019 43,83
P/E ratio 2020 38,62
EV / Sales 2019 4,42x
EV / Sales 2020 3,99x
Capitalization 6 914 M
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Mean consensus HOLD
Number of Analysts 12
Average target price 74,2 €
Spread / Average Target -4,0%
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Managers
NameTitle
Ludwin Monz President & Chief Executive Officer
Michael Kaschke Chairman-Supervisory Board
Justus Felix Wehmer Chief Financial Officer
Markus Guthoff Member-Supervisory Board
Cornelia Grandy Member-Supervisory Board
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