Carl Zeiss Meditec Reports Modest Growth in Q1, Fueled by Acquisition
Key Points
- Revenue jumps 3.2% to €490.5 million, boosted by DORC acquisition
- Organic revenue declines 7.3%
- Net income details withheld; EBITDA falls to €35.2 million
- Management expresses optimism for organic growth recovery
- Cautious outlook for industry investment climate
Revenue and Acquisition Impact
Carl Zeiss Meditec AG, a leading manufacturer of ophthalmic devices, reported a 3.2% increase in revenue to €490.5 million for the first quarter of its fiscal year. This increase was primarily attributed to the acquisition of DORC, a Dutch retinal specialist.
Excluding the DORC acquisition, revenue would have declined by 7.3% compared to the same period in the previous year. Notably, Carl Zeiss Meditec did not disclose its net income for the quarter.
EBITDA Decline
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) experienced a decline from €46.0 million in the first quarter of the previous fiscal year to €35.2 million in the current quarter.
Management’s Optimism
Despite the revenue challenges, Carl Zeiss Meditec’s management team expressed optimism for a recovery in organic growth. New product launches and an uptick in order intake and backlog have instilled confidence in the company’s ability to resume solid growth in the coming months.
Industry Outlook
The company acknowledged the subdued investment environment for medical devices used in hospitals and eye care practices. As a result, Carl Zeiss Meditec anticipates moderate revenue growth with a stable or slightly higher operating result.
Company Overview
Carl Zeiss Meditec is a publicly traded company listed on the MDAX index of the Frankfurt Stock Exchange. The company specializes in lasers, surgical microscopes, and equipment for diagnosing and treating eye diseases.
Global Footprint
Carl Zeiss Meditec’s global operations employ over 5,700 employees, with approximately 2,500 based in Germany. The company maintains a strong presence in both domestic and international markets.
Future Prospects
While the company’s near-term outlook remains cautious, Carl Zeiss Meditec’s management is confident in its long-term growth prospects. Continued innovation and a focus on expanding its product portfolio are expected to fuel future revenue growth. The company’s strong financial position and global presence provide a solid foundation for sustained success in the ophthalmic medical technology industry.
