ZEISS Meditec Reports Solid Revenue Gains
Thursday, August 25 2016 | 00 h 00 min | Financial News
With 3 quarters of the fiscal year complete on June 30, ZEISS Meditec reports 6.7% year over year revenue increase, aided by a favourable currency trend. Adjusted for currency affects, revenue growth was 4.5%. Revenue in both the Ophthalmic Systems unit and the Surgical Ophthalmology unit outpaced total growth, showing increases of 7.5% and 8.6% respectively. The two units account for 73.4% of the Groups total revenue.
Virtually all the growth was derived from the Asia Pacific area (+20.3%). Europe showed marginal growth while the Americas region had a marginal increase due entirely due to favourable currency affects. Research and Development expense ratio remained the same as the prior year, at 11.3 %.
The report attributes strict cost control to a significant boost to earnings before interest and taxes (EBIT). EBIT reached € 110.5 million for the 9-month period reaching 13.8% of revenue versus 12.0% compared with same period last year.