Press Release

Carl Zeiss Meditec AG concludes fiscal year 2019/20 with a recovery in profit in fourth quarter – outlook remains uncertain due to COVID-19 pandemic

29 October 2020

Jena, Germany | Carl Zeiss Meditec AG

Carl Zeiss Meditec AG (ISIN: DE0005313704) has achieved revenue of approximately €1,335.5m in fiscal year 2019/20 (previous year €1,459.3m) and has thereby exceeded the forecast of approx. €1.3bn provided on July 15, 2020. This corresponds to a decline of -8.5% vs. the past year. After adjustment for currency effects¹, the decline amounted to -8.7%. In the fourth quarter of 2019/20, revenue reached €367.6m (Q4 2018/19: €431.7m), a decline of -14.9%. After adjustment for currency effects, the decline amounted to around -14.5%.

Earnings before interest and taxes (EBIT)² amounted to €177.6m in fiscal year 2019/20 (previous year €264.7m). EBIT margin (EBIT / revenue) was 13.3% (previous year 18.1%). In the fourth quarter of 2019/20, EBIT amounted to €65.7m (Q4 2018/19: €0.5m), EBIT margin was 17.9% (Q4 2018/19: 18.6%).

Earnings per share (EPS)³ declined to €1.37 (previous year €1.79). In the fourth quarter of 2019/20, EPS was €0.60 (Q4 2018/19: €0.57).

Full results for fiscal year 2019/20 will be provided on December 11, 2020.

Carl Zeiss Meditec broadly expects a recovery of its markets in fiscal year 2020/21 and thereby a return to growth in revenue and EBIT. Due to the current trend in COVID-19 infections in Europe and North America, an additional impact from the pandemic cannot be ruled out at the outset of the new fiscal year, though. From today’s point of view, the company expects revenue and EBIT for the first months of the new fiscal year 2020/21 to come in below last year’s values for the same period.

Press & Investor Relations Contact Sebastian Frericks

Head of Group Finance & Investor Relations
Carl Zeiss Meditec AG
Phone: +49 3641 220 116
investors.med@zeiss.com

Brief profile

Carl Zeiss Meditec AG (ISIN: DE0005313704), which is listed on the MDAX and TecDAX of the German stock exchange, is one of the world's leading medical technology companies. The Company supplies innovative technologies and application-oriented solutions designed to help doctors improve the quality of life of their patients. The Company offers complete solutions, including implants and consumables, to diagnose and treat eye diseases. The Company creates innovative visualization solutions in the field of microsurgery. With 5,730 employees worldwide, the Group generated revenue of €2,066.1m in fiscal year 2023/24 (to 30 September).

The Group’s head office is located in Jena, Germany, and it has subsidiaries in Germany and abroad; more than 50 percent of its employees are based in the USA, Japan, Spain and France. The Center for Application and Research (CARIn) in Bangalore, India and the Carl Zeiss Innovations Center for Research and Development in Shanghai, China, strengthen the Company's presence in these rapidly developing economies. Around 39 percent of Carl Zeiss Meditec AG’s shares are in free float. Approx. 59 percent are held by Carl Zeiss AG, one of the world’s leading groups in the optical and optoelectronic industries.

For more information visit our website at www.zeiss.com/med

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¹
Currency-adjusted revenue growth is determined by weighing sales in the comparative period with current instead of actual historical exchange rates.
²
Earnings before interest and taxes (also operating profit, EBIT) refers to a key earnings figure within the Carl Zeiss Meditec Group and is calculated in accordance with IFRS standards (see Annual Report 2018/19, p. 76 for reconciliation).
³
Earnings per share (also EPS) refers to a key earnings figure within the Carl Zeiss Meditec Group and is calculated according to IFRS standards (see Annual Report 2018/19, p. 76 for reconciliation).