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Carl Zeiss Meditec AG

ISIN: DE0005313704

WKN: 531370

17 June 2024 10:09AM

EQS-Adhoc: Carl Zeiss Meditec AG: Revenue and EBIT forecast for fiscal year 2023/24 reduced amid slower than expected recovery of equipment business

Carl Zeiss Meditec AG · ISIN: DE0005313704 · EQS - adhoc news

Country: Germany · Primary market: Germany · EQS NID: 1926437

EQS-Ad-hoc: Carl Zeiss Meditec AG / Key word(s): Change in Forecast/Profit Warning
Carl Zeiss Meditec AG: Revenue and EBIT forecast for fiscal year 2023/24 reduced amid slower than expected recovery of equipment business

17-Jun-2024 / 10:09 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Revenue and EBIT forecast for fiscal year 2023/24 reduced amid slower than expected recovery of equipment business

Jena, June 17, 2024
In the first 8 months of fiscal year (FY) 2023/24 as of May 31, 2024, excluding the contribution from the acquisition of Dutch Ophthalmic Research Center B.V. (DORC), Carl Zeiss Meditec AG (ISIN: DE0005313704) had preliminary revenue of € 1,258 million (prior year: € 1,297 million, -3%). Preliminary operating profit (EBIT) amounted to € 135 million (prior year: € 183 million, -26%), excluding the contribution from the acquisition of DORC as well as integration cost related to the acquisition. In the combined months of April and May 2024, order entry, revenue and EBIT continued to fall short of the previous year’s level. As a consequence of the continued slow business development, the previous forecast for FY 2023/24 is lowered: Revenue is now expected to reach around € 2,000 million, excluding the contribution from the acquisition of DORC, which continues to be estimated at an additional € 100 million for the second half of the fiscal year (previous target: € 2,100 - € 2,150 million, excluding DORC). Due mainly to the resulting lack of positive operating leverage from weaker overall revenue assumptions, as well as more cautious assumptions for consumables sales in the second half of the current fiscal year, leading to a weaker product mix, EBIT (excluding effects related to the DORC acquisition) will fall significantly short of the previously stated target of a comparable level to last year (€ 348.1 million) and reach a level between around € 215 million up to around € 265 million.

Soft development of order entry and revenue continues to be mainly driven by the equipment business, suffering from a restrictive investment climate among key customer groups, particularly in North America. In addition, the important peak season for refractive surgeries in China is off to a slow start, with consumables orders in the country trailing the past year’s figures during the third quarter so far. The slower than anticipated roll-out of national volume-based procurement for intraocular lenses in China is also causing an additional headwind to revenue and EBIT.

Management is taking further measures to reduce operating expenses to adjust to the weaker market environment, predominantly in sales & marketing as well as research & development. A further update will be provided with Q3 2023/24 results on August 6, 2024.

Carl Zeiss Meditec is targeting renewed growth for the upcoming fiscal year 2024/25, supported by the launch of innovative new products into key markets in both strategic business units. In the mid-term, the goals of growing at least as fast as the underlying markets as well as reaching an EBIT margin level sustainably above 20% remain unchanged.

The quarterly statement for 9M 2023/24 will be published on August 6, 2024.

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

End of Inside Information

17-Jun-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:	English
Company:	Carl Zeiss Meditec AG
	Göschwitzer Str. 51-52
	07745 Jena, Germany
	Germany
Phone:	+49 (0)3641 220-0
Fax:	+49 (0)3641 220-112
E-mail:	investors.meditec@zeiss.com
Internet:	www.zeiss.de/meditec-ag/ir
ISIN:	DE0005313704
WKN:	531370
Indices:	MDAX, TecDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1926437


End of Announcement	EQS News Service

1926437 17-Jun-2024 CET/CEST

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Company related KPIs

Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
	2019	2020	2021	2022	2023	2024e	2025e
Sales¹	1.459,32	1.335,45	1.646,79	1.902,84	2.089,30	2.066,13	2.145,00
EBITDA^1,2	313,03	237,98	435,20	466,65	422,19	327,22	336,00
EBITDA-Margin³	21,45	17,82	26,43	24,52	20,21	15,84	15,66
EBIT^1,4	264,66	177,55	373,61	396,88	348,12	194,45	201,00
EBIT-Margin⁵	18,14	13,30	22,69	20,86	16,66	9,41	9,37
Net Profit (Loss)¹	160,58	123,42	237,52	295,91	292,01	180,15	185,40
Net-Margin⁶	11,00	9,24	14,42	15,55	13,98	8,72	8,64
Cashflow^1,7	219,63	178,53	362,66	188,20	250,86	247,32	255,00
Earnings per share⁸	1,79	1,37	2,64	3,29	3,25	2,01	2,08
Dividend per share⁸	0,65	0,50	0,90	1,10	1,10	0,60	0,60

Quelle: boersengefluester.de and Company information

Explanation

¹ in Mio. Euro; ² EBITDA = Earnings before interest, taxes, depreciation and amortisation; ³ EBITDA in relation to sales; ⁴ EBIT = Earnings before interest and taxes; ⁵ EBIT in relation to sales; ⁶ Net profit (-loss) in relation to sales; ⁷ Cashflow from operations; ⁸ in Euro; Source: boersengefluester.de

Auditor: PricewaterhouseCoopers

Company Snapshot

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
©boersengefluester.de
Carl Zeiss Meditec
WKN	ISIN	Legal Type	Marketcap	IPO	Recommendation	Plus Code
531370	DE0005313704	AG	4.160,78 Mio €	22.03.2000	Halten	9F2HVHPW+8C

* * *

PE 2026e	PE 10Y-Ø	BGFL-Ratio	Shiller-PE	PB	PCF	KUV
18,24	33,16	0,55	22,56	2,09	16,82	2,01

Dividends

Dividend '2022 in €	Dividend '2023 in €	Dividend '2024e in €	Div.-Yield '2024e in %
1,10	1,10	0,60	1,29%

Financial calendar

Annual General Meeting	Q1-figures	Q2-figures	Q3-figures	Annual press conference
26.03.2025	12.02.2025	14.05.2025	07.08.2025	11.12.2024

Performance

Distance 60-days-line	Distance 200-days-line	Performance YtD	Performance 52 weeks	IPO	Last Price (EoD) -3,88% 46,52 € ATH 202,00 €
-17,92%	-34,76%	+2,20%	-53,09%	+60,41%	Last Price (EoD) -3,88% 46,52 € ATH 202,00 €

LEI: 529900GRL4MZ8NMOOK95

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EQS-Adhoc: Carl Zeiss Meditec AG: Revenue and EBIT forecast for fiscal year 2023/24 reduced amid slower than expected recovery of equipment business

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EQS-Adhoc: Carl Zeiss Meditec AG: Revenue and EBIT forecast for fiscal year 2023/24 reduced amid slower than expected recovery of equipment business

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