Carl Zeiss Meditec AG

Latest Results (28.12.2024):

Revenue Decline

Carl Zeiss Meditec AG reported a slight decline in revenue for the fiscal year 2023/24, with total revenue amounting to €2,066.1 million, compared to €2,089.3 million in the previous year. This represents a decrease of 1.1%, or 4.8% when adjusted for currency and acquisition effects. The decline was influenced by a restrictive investment climate and low consumer confidence.

EBIT and Profitability

The company's adjusted earnings before interest and taxes (EBIT) fell to €245.9 million from €362.9 million in the prior year, aligning with the guidance range of €225 – 275 million. The adjusted EBIT margin, excluding contributions from the DORC acquisition, was 12.5%, down from 17.4% the previous year. The decline in EBIT was attributed to weaker sales and a less favorable product mix.

Regional Performance

In the fiscal year 2023/24, Carl Zeiss Meditec AG saw a 12.9% increase in revenue in the EMEA region, reaching €584.3 million. However, revenue in the Americas and APAC regions decreased by 6.6% and 5.2%, respectively. The decline in these regions was due to reduced demand and economic challenges, particularly in North America and China.

Dividend and Earnings Per Share

Earnings per share for Carl Zeiss Meditec AG decreased to €2.01 from €3.25 in the previous year. The company proposed a dividend of €0.60 per share, down from €1.10, reflecting the lower profit and the impact of the DORC acquisition and share buyback, which resulted in net financial debt of €-327.4 million.

Outlook for 2024/25

For the fiscal year 2024/25, Carl Zeiss Meditec AG anticipates a challenging global macroeconomic environment but expects moderate revenue growth, including contributions from the full-year consolidation of DORC. The company aims for stable to slightly higher EBITA and EBITA margin, supported by new product launches and public measures to boost economic and healthcare investment.