Posted: December 14, 2009

Carl Zeiss Meditec Closes Financial Year on a High

(Nanowerk News) The medical technology provider Carl Zeiss Meditec closed its financial year (end: 30 September 2009) on a high. In spite of difficult general conditions, the Company increased its revenue and earnings. The Company's excellence programme RACE 2010, which was implemented in summer 2008, was an important driver of this positive trend.
Carl Zeiss Meditec generated consolidated revenue of EUR 640.1 million in financial year 2008/2009, compared with EUR 600.1 million the previous year. Earnings before interest and tax (EBIT) increased by 11.5% in the reporting period to EUR 76.1 million (previous year: EUR 68.2 million). The EBIT margin increased accordingly, from 11.4% in the previous year to 11.9% in financial year 2008/2009. Cash flow from operating activities rose by as much as 60% to EUR 87.4 million. The results achieved in financial year 2008/2009 thus validate the Company’s policy of focusing on sustainable growth. The Supervisory Board and Management Board shall therefore propose to the Annual General Meeting 2010 a dividend of EUR 0.18.
“I would like to thank in particular our dedicated and competent employees around the world, without whose ideas and extraordinary commitment this successful financial year would not have been possible. Many of our customers are impressed to see the passion with which our employees work day after day to find solutions for the hospital and medical practice environment,” says Dr. Michael Kaschke, President and CEO of Carl Zeiss Meditec AG.
Regionally, the Company achieved its highest growth rates in the “Asia/Pacific” region in financial year 2008/2009, where growth was 21.1%. The "Americas" region continues to account for the largest share of revenue, generating 35.6%.
The strategic business units Ophthalmic Systems and Microsurgery increased their revenue in financial year 2008/2009 by 9.0% and 3.8%, respectively. The strength of the US dollar and the Japanese yen against the euro had a positive effect on both these business units in the first half of the year. Revenue in the Surgical Ophthalmology SBU grew by 6.8%.
Dr. Michael Kaschke explains: “This growth also highlights that we used the last year successfully to fully integrate our acquired units. This was an important step, as it is only after integration that the full value of acquisitions can be realised. Carl Zeiss Meditec is now ready for new opportunities and is actively searching for them.”
The Company’s equity ratio was 71.6% as of 30 September 2009 (30 September 2008: 70.0%). Net cash amounted to EUR 252.0 million at the end of the financial year (30 September 2008: EUR 210.4 million).
“Our professed aim is to achieve sustainable, profitable growth. We are continuously working towards this goal with our RACE 2010 programme. We expect revenue growth in financial year 2009/2010 to again be at least on a par with market growth. We aim to at least maintain our already very good operating profitability (EBIT margin), without foregoing necessary investments, in order to ensure continuous growth in value-added for the Company,” emphasised Dr. Kaschke.
Source: Carl Zeiss (press release)
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