Carl Zeiss Meditec Reports Slight Revenue Decline for First Nine Months of 2023/24

Carl Zeiss Meditec AG announced a slight decline in revenue for the first nine months of fiscal year 2023/24. Revenue totaled approximately €1,486.5 million, down 1.5% compared to the previous year. Adjusted for currency effects, revenue showed a minimal increase of 0.1%. The company's EBIT fell to €162.7 million from €244.9 million the previous year, resulting in an EBIT margin of 10.9%, down from 16.2%.

The Ophthalmology business unit saw a slight revenue decline, reaching €1,143.0 million, influenced by weaker sales of refractive consumables and reduced investment in surgical devices. The newly acquired retinal surgery company DORC contributed positively with €52.7 million. The Microsurgery unit experienced a 3.9% decline to €343.5 million, mainly due to weak neurosurgery business in North America.

Regionally, the EMEA region showed significant growth with a 16.1% increase. However, revenues in the Americas decreased by 13.0%, and the APAC region witnessed a slight decline of 4.1%.

Moving forward, Carl Zeiss Meditec expects full-year revenue around €2,000 million, plus an additional €100 million from the DORC acquisition. The company projects an adjusted EBIT between €225 million and €275 million, with further cost-cutting measures and medium-term transformation initiatives in place to enhance productivity and recovery.