Carl Zeiss Meditec AG returns to significant revenue growth in second quarter 2020/21

Jena, Germany | Carl Zeiss Meditec AG

Carl Zeiss Meditec AG (ISIN: DE0005313704) has achieved revenue of €767.4m in the first half of fiscal year 2020/21 (prior year: €714.9m). This corresponds to a revenue development of +7.3% vs. the past year (after adjustment for currency effects : +10.5%). In the second quarter of FY 2020/21, revenue amounted to €398.5m (prior year: €345.3m) – a growth rate of +15.4% (after adjustment for currency effects: +18.8%).

Earnings before interest and taxes (EBIT) amounted to €162.7m in the first half of FY 2020/21 (past year: €102.5m). EBIT margin (EBIT / revenue) was 21.2% (past year 14.3%). In the second quarter of FY 2020/21, EBIT amounted to €89.3m (past year: €45.7m). EBIT margin was 22.4% (past year: 13.2%). EBIT benefited in part from a favorable development of product mix as well as a continuing low level of sales and marketing expenses due to the COVID-19 pandemic, compared to the past year.

Earnings per share (EPS) amounted to €1.12 (past year: €0.71) for the first half of FY 2020/21. In the second quarter, EPS amounted to €0.60 (past year: €0.28).

Full results for the first half 2020/21 will be published on May 10, 2021.

During the further course of FY 2020/21, the company expects an ongoing normalization of business development. This expectation is based on the assumption that there will be no renewed deterioration in the global pandemic situation.

Revenue is expected to reach around €1.6bn (past year: €1,335.5m) in FY 2020/21. EBIT margin for FY 2020/21 is projected to reach a level of approximately 20% (past year: 13.3%), with significant support from lower than usual sales and marketing expenses in the current year. The company’s mid-term margin outlook remains unchanged: to generate an EBIT margin sustainably above the level of 18%.