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Carl Zeiss Meditec achieves further significant growth in revenue and order intake in first half 2021/22

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DGAP-News: Carl Zeiss Meditec AG / Key word(s): Half Year Results/Quarter Results
Carl Zeiss Meditec achieves further significant growth in revenue and order intake in first half 2021/22
13.05.2022 / 07:00
The issuer is solely responsible for the content of this announcement.

Carl Zeiss Meditec achieves further significant growth in revenue and order intake in first half 2021/22


Strained supply chain situation in equipment business continues

 

JENA, 13 May 2022

Carl Zeiss Meditec generated revenue of €855.4m in the first six months of fiscal year 2021/22 (prior year: €767.4m), corresponding to an increase of 11.5% (adjusted for currency effects: +10.7%) compared with the same period of the prior year. Order intake rose to an even greater extent than revenue, climbing 30.7% to €1,062.3m (prior year: €812.9m). Earnings before interest and taxes (EBIT) increased slightly to €177.3m. The EBIT margin was 20.7% (prior year: 21.2%). The adjusted EBIT margin amounted to 21.2% (prior year: 21.4%), which approximates the previous year’s figure.

Dr. Markus Weber: “The supply chain situation in the equipment business has deteriorated further in the past few months – due, among other things, to the war in Ukraine and the COVID-19 lockdowns in China. I am therefore all the more delighted to be reporting these good half-year results – an outstanding team achievement.”

Contributions to growth from all strategic business units and regions

Revenue in the strategic business unit (SBU) Ophthalmic Devices increased by 10.5% in the first six months of fiscal year 2021/22 (adjusted for currency effects: +9.7%) to €651.9m (prior year: €590.1m). Recurring revenue from consumables, implants and services once again contributed significantly to growth. The equipment business is impacted by supply chain bottlenecks. Order intake in the Ophthalmic Devices SBU increased disproportionately to revenue. Revenue in the Microsurgery SBU decreased by 14.8% (adjusted for currency effects: +13.8%) to €203.5m (prior year: €177.3m). Order intake in the Microsurgery SBU likewise increased at a much higher rate than revenue.

Revenue in the EMEA[1] region increased by 5.8% (adjusted for currency effects: +7.1%) to €229.2m (prior year: €216.7m). Order intake in core European markets exhibited a positive trend.

Revenue in the Americas region increased by 7.6% (adjusted for currency effects: +2.6%) to €212.2m (prior year: €197.2m). Contributors to this are both the stable development in the USA as well as a further recovery in the countries of South America.

In the APAC[2] region, revenue increased to €414.1m, compared with €353.5m in the prior year (+17.1%; adjusted for currency effects: +17.3%). The strongest contributions to growth came from China and India. The Japanese market also recorded growth.

EBIT margin only slightly below prior-year level in spite of planned higher investments

The operating result (earnings before interest and taxes: EBIT) increased to €177.3m in the first six months of fiscal year 2021/22 (prior year: €162.7m). The growth in revenue with a solid share of recurring revenue had a positive effect on this. Planned larger investments in Sales & Marketing and Research & Development had a curbing effect. EBIT in the prior year also included positive extraordinary income of €2.4m from the sale of a property. The EBIT margin decreased slightly to 20.7% (previous year: 21.2%). Adjusted for special effects, this amounted to 21.2% (prior year. 21.4%) approximating the previous year’s figure. Earnings per share increased to €1.44 (prior year: €1.12).

The Company’s outlook for fiscal year 2021/22 remains unchanged: Revenue is expected to grow at least to the same extent as the market. One factor of uncertainty is posed by the continued strain in the global supply chains, particularly in the equipment business. Political and macroeconomic factors such as the war in Ukraine and the regional COVID-19 lockdowns in China are contributing to this. The risks of supply disruptions increased significantly; further bottlenecks are expected in the present third quarter. The EBIT margin is expected to range between 19-21% in fiscal year 2021/22.

These projections are based on the assumption that there will continue to be no material loss of revenue due to disruptions to the supply chains and that the COVID-19 situation in China will normalize in the third quarter of 2021/22.

Revenue by strategic business unit

All figures in €m

6 Months
     2021/22

6 Months
      2020/21

Change from
   previous year

Change from prior year
        (currency-adjusted)

Ophthalmic Devices

651.9

590.1

+10.5%

+9.7 %

Microsurgery

203.5

177.3

+14.8 %

+13.8 %

Overall group

855.4

767.4

+11.5 %

+10.7 %

 

Revenue by region

All figures in €m     

6 Months
       2021/22

6 Months
    2020/21

Change from
    previous year

Change from prior year
        (currency-adjusted)

EMEA

229.2

216.7

+5.8 %

+7.1 %

Americas

212.2

197.2

+7.6 %

+2.6 %

APAC

414.1

353.5

+17.1 %

+17.3 %

Overall group

855.4

767.4

+11.5 %

+10.7 %

 

Further information on our publication and the Analyst Conference Call on the results for the first six months of fiscal year 2021/22 can be found at
https://www.zeiss.com/meditec-ag/investor-relations/financial-calendar/conference-calls.html

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.com/press

[1] Europe, Middle East, Africa
[2] Asia/Pacific region


13.05.2022 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:

1351521


 

End of News

DGAP News Service

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