PRESS RELEASE : Carl Zeiss Meditec reports decline in revenue due to COVID-19 pandemic

 
 DGAP-News: Carl Zeiss Meditec AG / Key word(s): Annual Results 
Carl Zeiss Meditec reports decline in revenue due to COVID-19 pandemic 
 
2020-12-11 / 07:00 
The issuer is solely responsible for the content of this announcement. 
 
*Carl Zeiss Meditec reports decline in revenue due to COVID-19 
pandemic* 
*Recurring Revenue stable overall* 
 
JENA, 11 December 2020 
 
*Carl Zeiss Meditec generated revenue of &euro1,335.5m in fiscal year 2019/20 
(prior year: &euro1,459.3m), a decline of -8.5% (adjusted for currency 
effects: -8.7%) year on year. Earnings before interest and taxes (EBIT) 
decreased to &euro177.6m (prior year: &euro264.7m). The EBIT margin was 13.3% 
(prior year: 18.1%). * 
 
"Fiscal year 2019/20 was entirely dominated by the COVID-19 pandemic," says 
Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG. "Our top priority 
was the close cooperation with our customers and protecting our employees. We 
responded quickly to the short-term decline in demand, secured our production 
and delivery capacity and adjusted costs. A stable overall surgical 
consumables business also helped to limit the decline in revenue and profit." 
 
*Both strategic business units report decline in revenue* 
 
Revenue in the Ophthalmic Devices strategic business unit (SBU) decreased by 
-7.3% in fiscal year 2019/20 (adjusted for currency effects: -7.5%), to 
&euro990.6m (prior year: &euro1,068.6m). Revenue in the Microsurgery SBU 
decreased by -11.7% (adjusted for currency effects: -12.1%), to &euro344.8m 
(prior year: &euro390.7m). Recurring revenue from consumables, implants and 
service accounted for a 38.8% share of revenue - a new high after 33.9% in the 
prior year. 
 
*Stable performance in APAC[1] region - significant declines in EMEA*[2] *and 
Americas* 
 
Revenue in the EMEA region decreased by -13.1% (adjusted for currency effects: 
-12.7%), to &euro362.4m (prior year: &euro417.1m). Declines were recorded 
particularly in the markets worst affected by the COVID-19 pandemic in Western 
Europe, the UK, Turkey and the Middle East region. There was a perceptible 
recovery in Germany toward the end of the reporting period. 
 
The Americas region recorded a revenue decline of -13.2% (adjusted for 
currency effects: 
-13.8%), to &euro384.0m (prior year: &euro442.5m). Revenue decreased 
significantly in the USA and Brazil in particular, after both had achieved 
growth in the first six months of the fiscal year. 
 
With revenue of &euro589.0m, the APAC region almost reached the prior-year 
figure of &euro599.7m 
(-1.8%; adjusted for currency effects: -2.3%), bolstered by a robust recovery 
in China and South Korea in the second half of the year. The markets of Japan, 
India and Southeast Asia, on the other hand, showed a decline. 
 
*Operating result below prior year* 
 
The operating result (earnings before interest and taxes: EBIT) decreased to 
&euro177.6m in fiscal year 2019/20 (prior year: &euro264.7m). The EBIT margin 
decreased to 13.3% (prior year: 18.1%). Adjusted for special effects, this 
amounted to 13.8% (prior year: 18.5%). Earnings per share fell to &euro1.37 
(prior year: &euro1.79). 
 
Carl Zeiss Meditec generally expects to see a recovery of the markets in 
fiscal year 2020/21 and thus a return to renewed growth in revenue and EBIT. 
In light of the current COVID-19 infection rates in Europe and North America, 
however, it cannot be ruled out that the pandemic may cause further strain at 
the beginning of the new fiscal year. The Company predicts that the first few 
months of the new fiscal year 2020/21 will lag behind the corresponding 
year-ago figures for revenue and EBIT. 
 
*Revenue by strategic business unit* 
 
All figures in     12 months 12 months Change from   Change from 
&eurom               2019/20   2018/19  prior year    prior year 
                                                   (adjusted for 
                                                        currency 
                                                        effects) 
Ophthalmic Devices     990.6   1,068.6       -7.3%         -7.5% 
Microsurgery           344.8     390.7      -11.7%        -12.1% 
*Consolidated*     *1,335.5* *1,459.3*     *-8.5%*       *-8.7%* 
 
*Revenue by region* 
 
All figures in     12 Months 12 months Change from   Change from 
&eurom               2019/20   2018/19  prior year    prior year 
                                                   (adjusted for 
                                                        currency 
                                                        effects) 
EMEA                   362.4     417.1      -13.1%        -12.7% 
Americas               384.0     442.5      -13.2%        -13.8% 
APAC                   589.0     599.7       -1.8%         -2.3% 
*Consolidated*     *1,335.5* *1,459.3*     *-8.5%*       *-8.7%* 
 
Additional information regarding this publication and the analyst conference 
call on FY 2019/20 results are available at 
https://www.zeiss.com/meditec-ag/investor-relations/financial-calendar/confere 
nce-calls.html [1] 
 
*Contact for investors and press * 
 
Sebastian Frericks 
Director Investor Relations, Carl Zeiss Meditec AG 
Phone: [phone] 
Email: [e-mail] 
 
*www.zeiss.de/presse [2]* 
 
[1] Asia/Pacific 
[2] Europe, Middle East, Africa 
 
2020-12-11 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, 
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Archive at www.dgap.de 
Language:    English 
Company:     Carl Zeiss Meditec AG 
             Göschwitzer Str. 51-52 
             07745 Jena, Germany 
             Germany 
Phone:       [phone] 
Fax:         [phone] 
E-mail:      [e-mail] 
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: 1154464 
 
End of News DGAP News Service 
 
1154464 2020-12-11 
 
 
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(END) Dow Jones Newswires

December 11, 2020 01:00 ET (06:00 GMT)