| Forecast for fiscal year 2022/23 refined – Targeting widened and reduced range for EBIT margin – Further growth with reduced earnings in first half year of 2022/23 |
Jena, April 19, 2023
In the first half of fiscal year 2022/23, Carl Zeiss Meditec AG (ISIN: DE0005313704) had revenues of € 974.5 million (prior year: € 855.4 million). Operating profit (EBIT) amounted to € 143.9 million (prior year: € 177.3 million). Earnings per share (EPS) reached € 1.26 (prior year: € 1.44).
In the second quarter of fiscal year 2022/23 revenue reached € 504.2 million (prior year: € 445.2 million). EBIT amounted to € 83.6 million (prior year: € 103.0 million). EPS reached € 0.69 (prior year: € 1.01).
The decline in operating profit primarily results from a weaker product mix owing to a lower share of consumables at the beginning of the fiscal year, in part related to the COVID-19 pandemic in China. In addition, higher procurement cost and the general rise in wage expenses are making an impact. Strategic investments in research and development as well as sales and marketing are unchanged and remain on a high level.
Order intake in the device business has been trending below the high prior year’s level both in the first half as well as in the second quarter of 2022/23. In the assessment of the executive board, this is mainly caused by the continuously elevated delivery times for many products as a consequence of strained global supply chains. This also leads to a slower implementation of price adjustments.
In spite of a positive expectation for a stronger product mix in the second half year 2022/23, the above-mentioned factors lead to an increased uncertainty regarding the outlook. Carl Zeiss Meditec AG is therefore refining its forecast for fiscal year 2022/23:
Revenue is expected to reach around € 2.1 billion, which based on today’s assessment meets the previous goal of growth at least in line with the underlying markets. The company had not previously provided a quantitative revenue forecast.
In the course of the second half year 2022/23, EBIT will significantly recover compared to the first half year. However, the above-named uncertainties require a widening of the forecast range for EBIT margin (EBIT in % of revenue). EBIT margin for the full fiscal year 2022/23 should reach between 17 – 20% (previous guidance: between 19 – 21%).
The full report on the first half of fiscal year 2022/23 will be published on May 9, 2023.
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Contact for investors and press
Sebastian Frericks
Head of Group Finance & Investor Relations
Carl Zeiss Meditec AG
Tel.: +49 3641 220-116
E-Mail: investors.meditec@zeiss.com
19-Apr-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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