Carl Zeiss Meditec reports decline in revenue due to COVID-19 pandemic
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DGAP-News: Carl Zeiss Meditec AG
/ Key word(s): Annual Results
JENA, 11 December 2020 Carl Zeiss Meditec generated revenue of €1,335.5m in fiscal year 2019/20 (prior year: €1,459.3m), a decline of -8.5% (adjusted for currency effects: -8.7%) year on year. Earnings before interest and taxes (EBIT) decreased to €177.6m (prior year: €264.7m). The EBIT margin was 13.3% (prior year: 18.1%). "Fiscal year 2019/20 was entirely dominated by the COVID-19 pandemic," says Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG. "Our top priority was the close cooperation with our customers and protecting our employees. We responded quickly to the short-term decline in demand, secured our production and delivery capacity and adjusted costs. A stable overall surgical consumables business also helped to limit the decline in revenue and profit." Both strategic business units report decline in revenue Revenue in the Ophthalmic Devices strategic business unit (SBU) decreased by -7.3% in fiscal year 2019/20 (adjusted for currency effects: -7.5%), to €990.6m (prior year: €1,068.6m). Revenue in the Microsurgery SBU decreased by -11.7% (adjusted for currency effects: -12.1%), to €344.8m (prior year: €390.7m). Recurring revenue from consumables, implants and service accounted for a 38.8% share of revenue - a new high after 33.9% in the prior year. Stable performance in APAC[1] region - significant declines in EMEA[2] and Americas Revenue in the EMEA region decreased by -13.1% (adjusted for currency effects: -12.7%), to €362.4m (prior year: €417.1m). Declines were recorded particularly in the markets worst affected by the COVID-19 pandemic in Western Europe, the UK, Turkey and the Middle East region. There was a perceptible recovery in Germany toward the end of the reporting period. The Americas region recorded a revenue decline of -13.2% (adjusted for currency effects: With revenue of €589.0m, the APAC region almost reached the prior-year figure of €599.7m Operating result below prior year The operating result (earnings before interest and taxes: EBIT) decreased to €177.6m in fiscal year 2019/20 (prior year: €264.7m). The EBIT margin decreased to 13.3% (prior year: 18.1%). Adjusted for special effects, this amounted to 13.8% (prior year: 18.5%). Earnings per share fell to €1.37 (prior year: €1.79). Carl Zeiss Meditec generally expects to see a recovery of the markets in fiscal year 2020/21 and thus a return to renewed growth in revenue and EBIT. In light of the current COVID-19 infection rates in Europe and North America, however, it cannot be ruled out that the pandemic may cause further strain at the beginning of the new fiscal year. The Company predicts that the first few months of the new fiscal year 2020/21 will lag behind the corresponding year-ago figures for revenue and EBIT.
Revenue by region
Additional information regarding this publication and the analyst conference call on FY 2019/20 results are available at
Contact for investors and press Sebastian Frericks
11.12.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| 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: | 1154464 |
| End of News | DGAP News Service |
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1154464 11.12.2020
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