EQS-News

Carl Zeiss Meditec closes first six months 2023/24 with a slight decline in revenue due to currency effects

EQS-News: Carl Zeiss Meditec AG / Key word(s): Half Year Report/Half Year Results Carl Zeiss Meditec closes first six months 2023/24 with a slight decline in revenue due to currency effects 08.05.2024 / 06:26 CET/CEST The issuer is solely responsible for the content of this announcement. Carl Zeiss Meditec closes first six months 2023/24 with a slight decline in revenue due to currency effects   Planned reduction of stocks of surgical consumables in the Chinese distribution channel successfully completed JENA, 8 May 2024

Carl Zeiss Meditec generated revenue of around €947.2m in the first six months of fiscal year 2023/24 (prior year: €974.5m), corresponding to a slight decrease in revenue of -2.8% (adjusted for currency effects: -0.7%). Earnings before interest and taxes (EBIT) declined to around €108.2m (prior year: €143.9m). The EBIT margin was 11.4% (prior year: 14.8%).

Dr. Markus Weber, President and CEO of Carl Zeiss Meditec AG: "As expected, the first six months were characterized by the reduction in stocks in the Chinese distribution channel, which we were able to complete as planned in March. We also had to contend with currency headwinds and a certain reluctance to invest in the devices business, particularly in the North American market. We expect to see our growth accelerate again in the second half of 2023/24 - thanks to the cost-control measures we have taken, we should also be able to achieve the necessary recovery in our operating result to reach our annual targets. I am very glad that we were able to successfully complete the acquisition of D.O.R.C. in the first week of April - together as a team we will convince our ophthalmology customers with new innovative workflows for greater efficiency and quality. The integration work is already in full swing."

Heterogeneous growth contributions from the strategic business units

Revenue in the Ophthalmology strategic business unit (SBU) decreased by -5.7% in the first six months of fiscal year 2023/24 (adjusted for currency effects: -3.7%), to €700.6m (prior year: €742.6m). In the reporting period the planned reduction of large stocks of surgical consumables in the Chinese market led to a decline in revenue, as expected; currency effects, particularly from the Chinese renminbi, the US dollar and the Japanese yen, also had a negative impact on revenue development.