German Healthcare Export Group e.V.

Innovative Products and Acquisitions Stimulate Growth at Carl Zeiss Meditec

In the first six months of the financial year 2004/2005 (1 October 2004 - 31 March 2005) the company's sales revenue increased by a quarter compared to the previous year to € 143.1m (previous year: € 115.9 m). Both internal growth and the external company acquisitions of LDT and IOLTECH have contributed to this result. Without currency effects and discounting these acquisitions, the growth in sales revenue would have been 16.1 percent.

There has been an even stronger improvement in the company's profitability. In the reporting period EBITDA rose by 26.4 perccnt to € 19.9m (previous year: € 15.7m) and EBIT improved by 26.6 percent to € 16.6m (previous year: € 13.1m). The EBIT margin has thus increased from 11.3 to 11.6 percent. Consolidated net income grew by 19.9percent to € 7.7m (previous year: € 6.5m). This results in a higher profit of € 0.27 per share (previous year: € 0.23), although the number of shares has increased slightly compared to the previous year due to the acquisition of IOLTECH.

Cash flow from operating activities continued to increase: It rose by 9.7 percent to € 8.7m following € 8.0m in the previous year.

Sales of innovative diagnostic systems for ophthalmology showed an increase of 18.4 percent to € 101.5m. This segment thus contributed about 71 percent to overall sales. Sales revenue in the segment Laser and IOL reached € 29.7m in the first half year, representing about 21 percent of consolidated group sales. Growth over the previous year amounted to 49 percent. Services, which grew by roughly 16 percent to € 12 million, generated about 8 percent of total sales revenue.

Americas remains the company's focus with a revenue share of 40 percent. 33 percent of revenue was generated in the Asia/Pacific region, the remaining 27 percent originated in Europe.

Source: Editoral Office GHE/www.meditec.zeiss.com

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