Carl Zeiss Meditec AG (CZMWY), a medical technology company, Wednesday announced a decrease in its first-quarter profit.
For the first quarter, net profit dropped to 15.7 million euros from 37.4 million euros. Earnings per share decreased to 0.18 euros from 0.42 euros in the previous year.
Adjusted earnings per share also dropped to 0.36 euros from 0.47 euros the previous year's quarter.
EBITA declined to around 35.2 million euros from 46 million euros in last year's quarter. EBITA margin also dropped to 7.2 percent from 9.7 percent last year.
Revenue, however, increased to 490.5 million euros from 475 million euros in the previous year.
Commenting on the outlook for 2024-25 the company said it expects revenue to return to moderate growth. EBITA and EBITA margin are expected to be stable or slightly higher during the period.
On Tuesday, Carl Zeiss Meditec had closed 0.36% higher at $60.76 on the OTC market.
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