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Carl Zeiss Meditec 9-month Revenue Down 5.8%

Carl Zeiss Meditec AG (CZMWF.PK) reported revenue of €967.9 million in the first nine months of fiscal year 2019/20, a decline of 5.8%, compared to €1,027.6 million.

Earnings before interest and taxes or EBIT decreased to €111.9 million from €184.2 million last year. The EBIT margin was 11.6% versus 17.9% a year ago.

"The effects of the COVID-19 pandemic impacted us significantly, particularly in the third quarter of fiscal year 2019/20. Although there has already been a slight recovery in some parts of APAC1 , the measures to contain the COVID-19 pandemic in Europe and North America had a marked effect on our customers and thus demand for our products," said Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG.

Based on the assumption that the markets would continue to recover and that no additional measures to contain the COVID-19 pandemic would be necessary, the company expects fiscal 2020 revenue to be around €1.3 billion.

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