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Carl Zeiss Meditec Q1 EBIT Rises; Confirms FY Outlook

Carl Zeiss Meditec AG (CZMWF.PK) reported that its first-quarter earnings before interest and taxes or EBIT increased significantly to 48.1 million euros from 38.9 million euros last year. Earnings of 0.32 euros per share remained at the same level as the previous year.

Quarterly revenue was 323.6 million euros, representing an increase of 9.8% from the previous year, while it was up 9.0% after adjusted for currency effects. The growth was posted in the EMEA region, particularly in its core markets Germany, France and Southern Europe.

"We have made a successful start to the new financial year and were able to further expand our market share in both strategic business units," said Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec.

The Ophthalmic Devices strategic business unit (SBU) increased its revenue by 10.7 percent in the first three months of fiscal year 2018/19 to 239.5 million euros, compared with 216.3 million euros in the same period of the prior year. This revenue increase was mainly attributable to laser vision correction systems as well as devices and consumables in cataract surgery.

Revenue in the EMEA region increased by 13.5 percent to 103.5 million euros. Germany, France and Southern Europe posted strong revenue growth.

For fiscal 2018/19, the company expects to grow at least as fast as markets, which is confirmed by business performance in the last three months. It is also holding to our margin target. "We are expecting an EBIT margin in the range of 14 to 16 percent in the current fiscal year and in the medium term," said Dr. Monz, confirming the forecast published in December 2018.

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