Carl Zeiss Meditec Q1 Profit Rises, EBIT Down; FY23 Outlook Unchanged

Carl Zeiss Meditec AG (CZMWF.PK), a German manufacturer of optical systems, reported Friday that its first-quarter consolidated profit attributable to shareholders of the parent company grew to 51.0 million euros from last year’s 37.9 million euros.

Earnings per share increased to 0.57 euro from prior year’s 0.42 euro.

Earnings before interest and taxes or EBIT, meanwhile, decreased to 60.3 million euros from last year’s 74.4 million euros. The EBIT margin was 12.8 percent, down from 18.1 percent a year ago.

EBIT was hurt by weaker product mix and high investments. Adjusted for special effects, EBIT margin was 13.4 percent, compared to prior year’s 18.6 percent.

Carl Zeiss Meditec generated revenue of 470.3 million euros, up 14.6 percent from 410.2 million euros a year ago.

Revenue at constant currency rates grew 12.1 percent. Orders on hand remained high at over 600 million euros.

Markus Weber, President and CEO of Carl Zeiss, said, “In a challenging environment with continued pressure on the supply chains and lockdowns in the important Chinese market, we still managed to achieve further growth.”

Looking ahead for fiscal 2023, the company maintained forecast for fiscal year, expecting positive outlook for the further course of business.

Revenue is still expected to grow at least to the same extent as the market. The EBIT margin is still expected to be slightly lower compared with the prior year, at around 19 percent to 21 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit

Source: Read Full Article