Pre-tax earnings still down at Carl Zeiss Meditec one quarter to go

 

FRANKFURT – Pre-tax earnings fell in the first nine months of its business year for German manufacturer of optical systems Carl Zeiss Meditec AG compared to the same period of the previous year.

Carl Zeiss Meditec reported on Friday that its nine-month earnings before interest and tax (EBIT) declined to around €244.9 million ($268 million) from the prior year’s €275.9 million.

The EBIT margin was 16.2%, compared to last year’s 20.7%.

In the first nine months, Carl Zeiss Meditec generated revenue of around €1.51 billion, representing growth of 13.3% from the prior year’s €1.33 billion.

Adjusted for currency effects, growth was 12.9%.

Looking ahead for fiscal 2023, the EBIT margin is now expected to be at the lower end of the forecast range of 17% to 20%.

Revenue is still expected to be around €2.1 billion, corresponding to growth of approximately 10% compared with the prior year.

In the medium term, the EBIT margin is expected to stabilize and return to the level of 20%.