Carl Zeiss Meditec continues its profitable growth in first six months

Medical technology provider Carl Zeiss Meditec generated growth of 14.8 percent in the first six months of financial year 2011/2012. The company posted revenue of EUR 431.8 million – EUR 56 million more than for the same period of the previous year (EUR 376.0 million). Once again, Carl Zeiss Meditec AG improved its profitability, increasing its earnings before interest and tax (EBIT) by 19 percent to EUR 61.1 million (previous year: EUR 51.3 million). The EBIT margin increased to 14.1 percent (previous year: 13.6 percent)."I am particularly delighted that we achieved very profitable growth," says Dr. Ludwin Monz, Presi- dent and CEO of Carl Zeiss Meditec AG. “The half-year result is an endorsement of our strategy to strengthen our broad business portfolio with innovations and to grow on a global scale."Key figures at a glanceThe largest contribution to total revenue came from the Microsurgery business unit, with growth of 23.9 percent. This increase in revenue is due in particular to the new products launched last year. Radiation therapy sales also showed continuing growth.The Surgical Ophthalmology business unit benefited from the strong demand for intraocular lenses for minimally invasive cataract surgery. This strategic business unit (SBU) grew by 14.8 percent.The Ophthalmic Systems SBU grew by 6.6 percent. In particular the new ReLEx® smile procedure for refractive laser surgery, launched in 2011, contributed to this growth.In terms of the reporting regions, the stable trend in the Asia/Pacific region continued with growth of 13.3 percent. This region continues to hold the greatest growth potential. A perceptible recovery in Europe and America also led to encouraging growth in these two regions. "Nevertheless, this was an unusual quarter characterized by backlog effects," explains Monz. Revenue in the EMEA region grew by 14.9 percent. Both the consoli- dation of the business operations acquired from IMEX in Spain and the strong demand in Eastern Europe are continuing to have a positive effect. Revenue in the Americas region increased by 16.2 percent. The US continued to perform well, while South America once again achieved double-digit growth.Confident about the futureCarl Zeiss Meditec is forecasting further growth in the second half of the current financial year, assuming that the economic climate continues to stabilize. However, this growth will not be quite as significant as in the first six months, partly for seasonal reasons."Our revenue target for financial year 2011/2012 as a whole is EUR 830 to EUR 860 million. This would mean year-on-year growth of between 9.4 and 13.3 percent," says Monz. "We are adhering to our target of achieving an EBIT margin of 15 percent by 2015."Revenue by strategic business unitFigures inEUR ´000 6 Months 2010/2011 6 Months 2011/2012 Change from prev. yearOphthalmic Systems 173,367 184,781 6.6%Surgical Ophthalmology 45,256 51,942 14.8%Microsurgery 157,421 195,075 23.9%Revenue by regionFigures in EUR ´000 6 Months 2010/2011 6 Months 2011/2012 Change from prev. yearEMEA 129,996 149,423 14.9%Americas 124,024 144,083 16.2%Asia/Pacific region 122,024 138,292 13.3% 15.05.2012, Carl Zeiss/zeiss.de