Medical technology company increases revenue by 8% despite a loss of earnings

Carl Ziess Meditec AG recorded an 8 per cent rise in their revenue in the first six months of the current financial year even though the earnings before interest and tax (EBIT) had decreased. 

Revenue rose from 460.9 million euros made the previous year to 498.0 million euros. Adjusted for the favorable currency trends growth was 3.7 per cent whereas EBIT fell from last year’s 63.7 million euros to 61 million euros.

The German company has set itself the goal to consolidate and expand its market shares.

Dr. Ludwin Monz, President and CEO of Carl Ziess Meditec AG, said of the figures: “In spite of varying regional trends and different rates of growth in our business fields, the development of our Company remains positive.”

Development of the strategic business units (SBUs) during the reporting period was mixed. There was a 2.1 per cent decline in revenue in the Microsurgery SBU compared with the Ophthalmic Systems SBU which achieved revenue growth of 8.8 percent.

Ultimately, it was the Surgical Ophthalmology SBU that once again closed the first six months with the highest growth rate, increasing its revenue by 17.1 percent to 173.0 million euros from 147.8 million euros.

In the first six months revenue also increased in Europe, Middle East and Africa region (EMEA) and the Americas by 8.1 per cent and 17.8 per cent, respectively.

The driving force behind the rise from in the Americas was the strength of the U.S. dollar, compared to the minor change in the Asia/Pacific region (APAC) as currency effects did not play a significant role.

Dr. Monz added: “Our broad business model and our balanced regional presence proved once more to be a strength.”