Carl Zeiss Meditec reports sound performance in the first six months and confirms outlook for business year 2009/2010
(Thomson Reuters ONE) -
Carl Zeiss Meditec AG / Carl Zeiss Meditec reports sound performance in the first six months and confirms outlook for business year 2009/2010 processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Revenues almost at last year's level due to stronger second half adjusted for
currency effects - almost 5% rise in order intake - slight increase in EBIT
margin
JENA - 12 May 2010.
After a restrained start in the first three months the medical technology
supplier reported pleasing results in the second quarter and is holding firm in
the continued volatile market. Carl Zeiss Meditec is benefiting from its
consistent focus on innovation, customer orientation and new markets within the
framework of the RACE 2010 corporate programme.
Carl Zeiss Meditec generated consolidated revenue of ? 321.1 million (previous
year: ? 336.7 million, corresponds to ? 325.6 million adjusted to the current
currency rate) in the first six months of 2009/2010. Adjusted for currency
effects, order intake increased by about 5%. The gross margin increased from
50.6% to 51.7%. Earnings before interest and taxes (EBIT) thus increased from
? 38.9 million in the previous year to ? 39.3 million. In a year-on-year
comparison the EBIT margin increased by 0.7 percent points to 12.2%. Operative
cash flow remained almost unchanged at approx. ? 27.3 million (previous year: ?
27.7 million).
"Following a modest start into the new financial year we made a sound recovery
in the second quarter. In view of the continued erratic and volatile market
environment, we are thoroughly satisfied with the half-yearly results. Cautious
optimism is justified and it will now be important to seize market opportunities
now slowly developing," says Dr Ludwin Monz, Chief Executive Officer of Carl
Zeiss Meditec AG.
From a regional point of view, revenue in the "Asian/Pacific" region rose by
7.0%, partly due to the robustness of the Japanese market. Despite the increase
in revenue in Germany and Spain, the "Europe, Middle East and Africa" region
posted a 9.3% decline in revenue, although it remained the strongest sales
generator. The share of consolidated revenue contributed by the "Americas"
region in the first half of financial year 2009/2010 fell from 34.5% in the
previous year to 33.2%. "We can see signs of market recovery in the USA.
Although uncertainty in Europe is at a very high level at the moment, we expect
that the backlog to last year will decrease during the current financial year",
says Dr Ludwin Monz.
On the strategic business unit level, the "Surgical Ophthalmology" SBU further
increased its revenue in the first six months. The share in revenue of this SBU
amounted to 12.8% (previous year: 12.1%). Once again "Ophthalmic Systems"
contributed the largest portion of revenue at 46.6% (previous year: 47.8%).
"Microsurgery" contributed a 40.6% share of consolidated revenue (previous year:
40.1%). The results of the "Microsurgery" and "Ophthalmic Systems" strategic
business units were negatively influenced by adverse trends in exchange rates in
the first six months of 2009/2010.
"We already laid the foundations for profitable growth in 2008 with our
corporate programme RACE 2010. In the continuation of the programme we will now
place the main focus on customer-orientated innovations, excellent service and
expansion into new markets. We thus see us ideally equipped for the future. We
confirm our expectations that revenue growth in financial year 2009/2010 will be
at least on a par with growth in the markets. We are still assuming that the
markets addressed by us will grow by between 0% and 5%, depending on segment and
region," explained Dr Ludwin Monz.
Revenue by strategic business unit
+----------------------+------------------+------------------+-----------------+
|Figures in |6 Months 2008/2009|6 Months 2009/2010|Change from |
|? '000 | | |previous year |
+----------------------+------------------+------------------+-----------------+
|Ophthalmic Systems |160,889 |149,564 |-7.0% |
| | | | |
+----------------------+------------------+------------------+-----------------+
|Surgical Ophthalmology|40,704 |41,058 |0.9% |
| | | | |
+----------------------+------------------+------------------+-----------------+
|Microsurgery |135,156 |130,522 |-3.4% |
+----------------------+------------------+------------------+-----------------+
Revenue by region
+--------------------+------------------+------------------+-------------------+
|Figures in |6 Months 2008/2009|6 Months 2009/2010|Change from |
|? '000 | | |previous year |
+--------------------+------------------+------------------+-------------------+
|EMEA |131,480 |119,250 |-9.3% |
+--------------------+------------------+------------------+-------------------+
|Americas |116,190 |106,546 |-8.3% |
+--------------------+------------------+------------------+-------------------+
|Asia / Pacific |89,079 |95,348 |+7.0% |
|region | | | |
+--------------------+------------------+------------------+-------------------+
[HUG#1415056]
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Carl Zeiss Meditec AG
Goeschwitzer Strasse 51-52 Jena Germany
WKN: 531370;ISIN: DE0005313704;Index:TecDAX,Prime All Share,TECH All Share;
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Unternehmensinformation / Kurzprofil:
Datum: 12.05.2010 - 07:12 Uhr
Sprache: Deutsch
News-ID 20727
Anzahl Zeichen: 0
contact information:
Town:
Jena
Kategorie:
Business News
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