Carl Zeiss Meditec affirms growth target for financial year 2009/2010, despite cautious start
(Thomson Reuters ONE) - Carl Zeiss Meditec AG / Carl Zeiss Meditec affirms growth target for financial year 2009/2010, despite cautious start processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. Revenue down compared with strong quarter of previous year - stable gross andEBIT margin - increase in operative cash flowJENA - 12 February 2010The medical technology company has ended the first quarter of financial year2009/2010 (balance sheet date: 31 December 2009) with sound results, proving itis able to hold its own in the persistently volatile and difficult economicenvironment. This steady development is also driven by the Company program, RACE2010.In the first three months of financial year 2009/2010, Carl Zeiss Meditecgenerated revenue of EUR 156.2 million (previous year: EUR 177.9 million). Theyear-on-year decline of 12.2 percent is above all due to the previous year'squarter, which was influenced by special effects and negative effects caused byexchange rate fluctuations totaling EUR 8.3 million. The gross margin, on theother hand, increased from 50.3 percent to 50.7 percent. Earnings beforeinterest and tax decreased by 13.1 percent year-on-year to EUR 18.7 million(previous year: EUR 21.5 million). The EBIT margin, however, remained almoststable at 12.0 percent (previous year: 12.1 percent), despite a decline inrevenue. Cash flow from operating activities increased year-on-year and amountsto EUR 7.7 million (previous year: EUR 4.0 million)."In spite of the difficult economic situation, it is hard to be content with thedevelopment of revenue in the first quarter. However, our focus on efficiencyand good cost management led to a stable development of results. We thereforeconsider ourselves well equipped - if markets continue to stabilize and recover- to be able to continue on our growth course of the past year, withcorresponding increases in profitability," says Dr. Michael Kaschke, Presidentand CEO of Carl Zeiss Meditec AG.Regionally, the "Europe, Middle East and Africa" region generated the largestshare of revenue of 37.4 percent. The "Americas" region was impacted by highlynegative currency effects.On the strategic business unit level, the "Surgical Ophthalmology" SBU furtherincreased its revenue, due particularly to the expansion of distributionactivities for the innovative multifocal lenses. This business unit's share ofrevenue thus increased to 12.5 percent (previous year: 10.9 percent). Thelargest share of revenue in the first quarter of 2009/2010 was again generatedby the "Ophthalmic Systems" strategic business unit, with 46.9 percent (previousyear: 50.1 percent). The revenue of this business unit and the revenue of the"Microsurgery" SBU were adversely affected by currency effects."With orders on hand of EUR 65.2 million at the end of the first quarter (+7.4percent compared with the previous year) and a number of innovative new productsdue to come onto the market in 2010, we are sticking to our projections forfinancial year 2009/2010 as a whole. In spite of the extremely volatile marketenvironment that persists, we anticipate revenue growth in 2010 that is at leaston a par with growth in the markets, and we expect this growth to range between0 percent and 5 percent, depending on the segment and region," says Dr. MichaelKaschke.Revenue by strategic business unitFigures in EUR '000 3 months 2008/2009 3 months 2009/2010 Change from previousyearOphthalmic Systems 89,182 73,206 - 17.9%Surgical Ophthalmology 19,320 19,532 1.1%Microsurgery 69,399 63,489 -8.5%Revenue by region Figures in EUR '0003 Months 2008/2009 3 months 2009/2010 Change from previous yearEMEA 66,549 58,420 -12.2%Americas 65,641 57,417 -12.5%Asia / Pacific region 45,711 40,390 -11.6%Contact persons:Eva SesselmannDirector Corporate CommunicationsCarl Zeiss Meditec AGG?witzer Stra? 51-5207745 JenaPhone: +49 3641 220-331Fax: +49 3641 220-112E-mail:press(at)meditec.zeiss.com
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Datum: 12.02.2010 - 07:03 Uhr
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