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

CARL ZEISS MEDITEC AG

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Carl Zeiss Meditec : achieves significant increase in sales and earnings in fiscal year 2018/19

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12/06/2019 | 01:05am EST

DGAP-News: Carl Zeiss Meditec AG / Key word(s): Annual Results
Carl Zeiss Meditec achieves significant increase in sales and earnings in fiscal year 2018/19
06.12.2019 / 07:00
The issuer is solely responsible for the content of this announcement.


Carl Zeiss Meditec achieves significant increase in sales and earnings in fiscal year 2018/19
 
Growth in all strategic business units and regions
 

JENA, 6 December 2019

In fiscal year 2018/19, Carl Zeiss Meditec generated revenue of ?1,459.3m, resulting in an increase of 13.9% (adjusted for currency effects: +11.7%) compared with the same period of the prior year (prior year: ?1,280.9m). Earnings before interest and taxes (EBIT) rose significantly, to ?264.7m (prior year: ?197.1m). The EBIT margin was 18.1% (prior year: 15.4%).

"This was a record year for Carl Zeiss Meditec AG, to which all business units and regions contributed," says Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG.

Ophthalmology and Microsurgery continue to grow

The Ophthalmic Devices strategic business unit (SBU) increased its revenue by 14.5 percent in the fiscal year 2018/19 (adjusted for currency effects: +12.4 percent), to ?1,068.6m, compared with ?933.2m in the same period of the prior year. Significant drivers of this revenue growth were once again laser systems for vision correction as well as devices and consumables for cataract surgery.

Revenue in the Microsurgery SBU grew by 12.4 percent (adjusted for currency effects: +9.7 percent), to ?390.7m, compared with ?347.6m in the same period of the prior year. Sales of visualization systems for neurosurgeons, for the treatment of tumors and vascular diseases, continued to develop well.

Solid growth in EMEA and APAC

Revenue in the EMEA region increased by 10.3 percent in fiscal year 2018/19 (adjusted for currency effects: +10.7 percent), to ?417.1m (prior year: ?378.1m). The core markets Germany, France and the UK achieved good revenue growth.

Revenue in the Americas region also increased, reaching a new all-time high of ?442.5m (prior year: ?406.5m). This growth amounted to +8.9 percent (adjusted for currency effects: +3.9 percent).

The APAC region recorded revenue growth of 20.8 percent (adjusted for currency effects: +19.0 percent), to ?599.7m (prior year: ?496.3m). Once again, the largest contributions to growth came from China and South Korea. Japan also performed well.

The operating result (EBIT) increased to ?264.7m in fiscal year 2018/19 (prior year: ?197.1m). This significant increase is primarily due to a positive development of the product mix, accompanied by a slight decline in operating cost ratios. The EBIT margin increased from 15.4 percent to 18.1 percent. Adjusted for special effects, the increase amounted to 18.5 percent (prior year: 15.7 percent). Earnings per share increased to ? 1.79 from ?1.41 in the prior year.

Carl Zeiss Meditec expects to be able to grow faster than the underlying markets again in fiscal year 2019/20. The EBIT margin is expected to be in a range from 17 to 19 percent. Significant additional investments in research and development and in sales and marketing are already factored into this outlook.

Dr. Ludwin Monz continued: "Our markets are attractive and offer significant opportunities for growth. We want to seize these opportunities and create further value in the long term. This will require substantial investments in certain areas, particularly in development and sales presence, which we already started in fiscal year 2018/19. In the medium term, we want to secure the level of earnings we have already achieved and generate an EBIT margin that is sustainably above 18%."
 

Revenue by strategic business unit

All figures in ?m 12 months 2018/19 12 months 2017/18 Change from prior year Change from prior year (adjusted for currency effects)
Ophthalmic Devices 1,068.6 933.2 +14.5% +12.4%
Microsurgery 390.7 347.6 +12.4% +9.7%
Consolidated 1,459.3 1,280.9 +13.9% +11.7%
  

Revenue by region

All figures in ?m 12 months 2018/19 12 months 2017/18 Change from prior year Change from prior year (adjusted for currency effects)
EMEA 417.1 378.1 +10.3% +10.7%
Americas 442.5 406.5 +8.9% +3.9%
APAC 599.7 496.3 +20.8% +19.0%
Consolidated 1,459.3 1,280.9 +13.9% +11.7%
 

 

Contact for investors and press
Sebastian Frericks
Director Investor Relations, Carl Zeiss Meditec AG
Phone: +49 (0)3641 220-116
Email: investors.meditec@zeiss.com

www.zeiss.de/presse

 



06.12.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Carl Zeiss Meditec AG
Göschwitzer Str. 51-52
07745 Jena, Germany
Germany
Phone: +49 (0)3641 220-0
Fax: +49 (0)3641 220-112
E-mail: investors.meditec@zeiss.com
Internet: www.zeiss.de/meditec-ag/ir
ISIN: DE0005313704
WKN: 531370
Indices: MDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 929957

 
End of News DGAP News Service

929957  06.12.2019 

fncls.ssp?fn=show_t_gif&application_id=929957&application_name=news&site_id=zonebourse

© EQS 2019
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Financials (EUR)
Sales 2020 1 591 M
EBIT 2020 284 M
Net income 2020 201 M
Finance 2020 577 M
Yield 2020 0,69%
P/E ratio 2020 48,6x
P/E ratio 2021 43,0x
EV / Sales2020 5,84x
EV / Sales2021 5,25x
Capitalization 9 874 M
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Mean consensus HOLD
Number of Analysts 11
Average target price 111,73  €
Last Close Price 110,40  €
Spread / Highest target 26,8%
Spread / Average Target 1,20%
Spread / Lowest Target -46,6%
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NameTitle
Ludwin Monz President & Chief Executive Officer
Michael Kaschke Chairman-Supervisory Board
Justus Felix Wehmer Chief Financial Officer
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