Medical technology - Zeiss Meditec: Chinese market remains important for us
The Thuringian medical technology group Carl Zeiss Meditec reached the two billion euro revenue mark for the first time in the past financial year. High demand for lasers, intraocular lenses and surgical microscopes for the treatment of eye diseases following the coronavirus pandemic led to an increase in revenue of around ten percent to just under EUR 2.1 billion. "We have grown better than the market and have got our supply chains under control," said CEO Markus Weber on Tuesday when presenting the figures for the 2022/23 financial year.
However, earnings before interest and taxes (EBIT) fell from 397 million euros to 348 million euros. Weber cited a less favourable product mix with sales of fewer surgical consumables as well as investments in sales, research, development and digitalization as the reason for this. Nevertheless, the dividend for shareholders will remain at 1.10 euros per share, as in the previous year.
The CEO sees the prospects for the new financial year as fundamentally positive, with the long-term development trends continuing despite increased uncertainty. There is still a high demand worldwide for the treatment of widespread diseases such as short-sightedness and cataracts. Despite a somewhat slower pace in China, sales growth for the entire 2023/24 financial year is expected to at least match market growth.
CFO Justus Felix Wehmer said:"China is important for us." Around a quarter of the Group's turnover is generated there. "We have market strength in China - it remains an attractive market." However, the company assumes that the pace of growth in China will temporarily slow due to the "introduction of new government procurement systems in the market for intraocular lenses". In the 2022/23 financial year, which ran until the end of September, Asia developed positively for Zeiss Meditec overall, although the Chinese and Korean markets declined slightly.
The Group, which is listed on the Frankfurt Stock Exchange's MDax, employs around 4800 people in Germany and abroad, including more than 2200 in Germany. Zeiss Meditec specializes in devices and materials for the treatment of eye diseases.
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The medical technology company, Zeiss Meditec, with significant operations in eastern Germany, relies on the Chinese market, accounting for around a quarter of their total revenue. The Financial year saw a slight decline in earnings due to a less favorable product mix and investments, but the high demand for eye disease treatments worldwide, including in China, is expected to drive growth for the upcoming year. In response to coronavirus circumstances, Optics and Medical technology manufacturers in China have introduced new government procurement systems for intraocular lenses, potentially impacting their pace of growth temporarily.
Source: www.stern.de
