09.12.2022 Carl Zeiss Meditec AG  DE0005313704

EQS-News: Carl Zeiss Meditec remains on growth course in fiscal year 2021/22


 

EQS-News: Carl Zeiss Meditec AG / Key word(s): Annual Results/Annual Report
Carl Zeiss Meditec remains on growth course in fiscal year 2021/22

09.12.2022 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


 
Carl Zeiss Meditec remains on growth course in fiscal year 2021/22
 
High revenue and strong order situation in spite of persistent geopolitical and macroeconomic risks

 

JENA, 9 December 2022

 

Carl Zeiss Meditec generated revenue of around €1,903m in fiscal year 2021/22 (prior year: €1,647m), corresponding to growth of +15.5% (adjusted for currency effects: +13.3%). Orders received increased even more significantly to around €2,251m (+30.1%, adjusted for currency effects: +27.7%). Earnings before interest and taxes (EBIT) increased to around €397m (prior year: €374m). The EBIT margin was 20.9% (prior year: 22.7%).

Dr. Markus Weber, President and CEO of Carl Zeiss Meditec AG: “Once again, we are looking back on a very successful fiscal year. Given the heightened geopolitical and macroeconomic risks and the rising inflation rate, we are extremely satisfied with the result achieved. Due to the well filled order books and steady demand for our innovations, we are confident that we will remain on a growth course in 2022/23.”

Both strategic business units contribute to growth

Revenue in the strategic business unit (SBU) Ophthalmic Devices increased by +17.0% in fiscal year 2021/22 (adjusted for currency effects: +15.0%), to €1,469m (prior year: €1,256m). In particular the business with recurring revenue from consumables, implants and services made a significant contribution to this growth. Orders received increased from €1,319m to €1,721m, an increase of +30.5% (adjusted for currency effects: +28.3%). In addition to robust demand in the equipment and consumables business, this is also attributable to the increase in production and delivery time in the equipment business due to shortages in the global supply chains and materials procurement.

The sales recovery continued in the strategic business unit Microsurgery and also exceeded market growth, with revenue increasing by +10.9% (adjusted for currency effects: +7.8%) to €434m (prior year: €391m). Orders received have recently developed disproportionately to revenue and increased by 28.6% (adjusted for currency effects: 25.7%), from €412m to €530m. In addition to robust demand, this is also attributable to the increase in production and delivery time in the equipment business due to strained supply chains, and in materials procurement.

Sustained positive growth rates in all reporting regions

Revenue in the EMEA[1]region increased by +6.1% (adjusted for currency effects: +6.5%), to €459m (prior year: €433m). The core markets Germany, France and Southern Europe and the United Kingdom continued to record solid growth.

Revenue in the Americas region increased by +8.4% (adjusted for currency effects: -0.1%) to €487m (prior year: €449m), mainly thanks to positive currency effects. After adjustment for currency effects, revenue in the USA developed at a roughly constant level compared with the prior year.

Once again, the APAC[2]region made the strongest contribution to growth. Revenue increased by 25.0% (adjusted for currency effects: +25.0%) to €957m (prior year: €765m). China and India had the highest growth rates.

Significant increase in earnings year-on-year

The operating result (earnings before interest and taxes: EBIT) increased to €397m in fiscal year 2021/22 (prior year: €374m). A more favorable product mix with a high proportion of recurring revenue of 46% (prior year: +41%) had a positive effect in this respect. This positive development is also attributable to stockpiling of consumables in the mid-double-digit millions range in the Chinese distribution channel. The majority of this took place in the second half of the fiscal year to provide for potential future lockdowns due to the Zero-COVID-Policy in China. In relation to revenue, an EBIT margin of 20.9% (prior year: 22.7%) was achieved in fiscal year 2021/22. Adjusted for special effects, this figure was 21.4% (prior year: 23.0%). Earnings per share increased to €3.29 (prior year: €2.64). Due to the successful fiscal year, shareholders are to receive an appropriate share of the profits. The Management Board therefore plans to propose a dividend of €1.10 (prior year: €0.90) to the Annual General Meeting.

Positive outlook for new fiscal year 2022/23 despite high degree of uncertainties

Due to the positive development of business and the high volume of orders, the Company is looking ahead to fiscal year 2022/23 with optimism. On the other hand, macroeconomic and political uncertainties, such as the tension in the global supply chains, the high inflation rate, China’s COVID Policy and the war between Russia and Ukraine continue to persist. For Q1 2022/23, the EBIT margin is expected to fall significantly short of the prior year’s figure, due among other things to the widespread lockdown situation in China and a weaker product mix as well as rising operating costs. Assuming that the above-mentioned risk factors do not worsen further in the course of the year, however, revenue growth for fiscal year 2022/23 is expected to be at least as high as market growth, with an EBIT margin of around 19 to 21%. Cost increases from expansion of the workforce, wage settlements and the supply chains may cause additional burden.

In the medium term, the EBIT margin is expected to establish itself at a level sustainably above 20%. The rising proportions of recurring revenue are making a positive contribution to this. Conversely, planned strategic investments in Research & Development and Sales & Marketing remain high.

 

Revenue by strategic business unit

All figures in €m 12 months 2021/22 12 months 2020/21 Change from prior year % Change from prior year %
(currency-adjusted)
Ophthalmic Devices 1,469.3 1,255.7 +17.0 +15.0
Microsurgery 433.6 391.1 +10.9 +7.8
Consolidated 1,902.8 1,646.8 +15.5 +13.3

 

Revenue by region

All figures in €m 12 months 2021/22 12 months 2020/21 Change from prior year % Change from prior year %
(currency-adjusted)
EMEA 495.1 432.6 +6.1 +6.5
Americas 486.8 448.9 +8.4 -0.1
APAC 956.9 765.3 +25.0 +25.0
Consolidated 1,902.8 1,646.8 +15.5 +13.3

 

Further information on our publication and the Analyst Conference Call on the results for fiscal year 2021/22 can be found at

https://www.zeiss.com/meditec-ag/investor-relations/financial-calendar/conference-calls.html


Contact for investors and press

Sebastian Frericks

Head of Group Finance & Investor Relations, Carl Zeiss Meditec AG

Phone: +49 (0)3641 220-116

Email: [email protected]
 

www.zeiss.com/press

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[1] Europe/Middle East/Africa

[2] Asia/Pacific



09.12.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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: [email protected]
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: 1508869

 
End of News EQS News Service

1508869  09.12.2022 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022e
Umsatzerlöse1 1.088,37 1.189,90 1.280,86 1.459,32 1.335,45 1.646,79 1.902,84
EBITDA1,2 174,56 205,07 228,41 313,03 237,98 435,20 466,65
EBITDA-Marge3 16,04 17,23 17,83 21,45 17,82 26,43 24,52
EBIT1,4 154,33 180,83 197,13 264,66 177,55 373,61 396,88
EBIT-Marge5 14,18 15,20 15,39 18,14 13,30 22,69 20,86
Jahresüberschuss1 99,97 135,78 126,23 160,58 123,42 237,52 295,91
Netto-Marge6 9,19 11,41 9,86 11,00 9,24 14,42 15,55
Cashflow1,7 111,77 37,73 187,21 219,63 178,53 362,66 188,20
Ergebnis je Aktie8 1,21 1,57 1,41 1,79 1,37 2,64 3,29
Dividende8 0,42 0,55 0,55 0,65 0,50 0,90 1,10
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Ernst & Young

INVESTOR-INFORMATIONEN
©boersengefluester.de
Carl Zeiss Meditec
WKN Kurs in € Einschätzung Börsenwert in Mio. €
531370 131,950 Halten 11.801,68
KGV 2024e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
36,15 35,01 1,04 71,83
KBV KCV KUV EV/EBITDA
6,16 62,71 6,20 23,39
Dividende '22 in € Dividende '23e in € Div.-Rendite '22e
in %
Hauptversammlung
1,10 1,15 0,83 22.03.2023
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
10.02.2023 09.05.2023 04.08.2023 09.12.2022
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
3,89% 7,15% 11,92% -9,65%
    
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