Carl Zeiss reports global growth

Carl Zeiss has ended the first six months of fiscal year 2010/11 with a substantial improvement in sales and earnings over the previous year: revenues totaled EUR 2.143 billion, and earnings before in…

Carl Zeiss has ended the first six months of fiscal year 2010/11 with a substantial improvement in sales and earnings over the previous year: revenues totaled EUR 2.143 billion, and earnings before income tax (EBIT) EUR 355 million. In addition to the full consolidation of the eyeglass business as the new Vision Care business group for the first time, strong organic growth particularly in the Semiconductor Manufacturing Technology, Medical Systems and Industrial Metrology business groups contributed to the positive half-yearly balance sheet presented by the company in Stuttgart. Business outside Germany accounted for 87% of total revenues. Particularly strong growth was recorded in international business with cooperation partners like ASML, Nokia and Sony: revenues rose 34% to EUR 678 million (1H of 2009/10: EUR 508 million). In America, the Carl Zeiss Group posted a 13% increase in revenues to a total of EUR 466 million (1H of 2009/10: EUR 241 million). Carl Zeiss also once again achieved strong growth in the Asia region: after currency adjustments, the company recorded a 12% increase in revenues to a total of EUR 298 million (1H of 2009/10: EUR 209 million). In Europe, Carl Zeiss posted growth of 8% over the same period last year after currency adjustments. Here, revenues totaled EUR 649 million, of which EUR 242 million was generated in Germany (1H of 2009/10: EUR 390 million, including EUR 161 million in Germany). EBIT amounted to EUR 355 million (1H of 2009/10: EUR 176 million). Net income totaled EUR 240 million (1H of 2009/10: EUR 81 million). Investments in property, plant and equipment and R&D In the 1H of fiscal year 2010/11 Carl Zeiss invested EUR 66 million in plant, property and equipment (end of fiscal year 2009/10: EUR 53 million). This investment figure compared to depreciation totaling EUR 60 million (end of fiscal year 2009/10: EUR 96 million). Carl Zeiss is focusing its investments on the expansion and modernization of its global sites and on new production technology. Carl Zeiss generates over 50% of its revenues with products not older than three years. The company constantly invests in research and development, and in the 1H of fiscal year 2010/11, EUR 178 million was utilized for this purpose, equating to 8% of revenues (1H of 2009/10: EUR 134 million, or 10% of revenues). For the 1H of fiscal year 2010/1, the Semiconductor Manufacturing Technology business group posted a 39% increase in revenues over the previous year to a total of EUR 734 million (1H of 2009/10: EUR 527 million). In the first six months of fiscal year 2010/11 the Vision Care business group generated revenues totaling EUR 429 million. This corresponds to an increase of 3% after adjustment for consolidation effects. Vision Care will be fully consolidated in fiscal year 2010/11. The Medical Systems business group, which primarily comprises the listed company Carl Zeiss Meditec AG, continues to show a positive development in the 1H of the fiscal year: revenues totaled EUR 413 million, corresponding to a rise of 17% over the previous year (1H of 2009/10: EUR 354 million). The values deviate from the published figures of Carl Zeiss Meditec AG as a result of different consolidation models. The business of the Microscopy group is showing a healthy development in the current fiscal year. This business group has increased its revenues by 10% to a total of EUR 209 million (1H of 2009/10: EUR 191 million). The Industrial Metrology business group concluded the first six months of 2010/2011 with a growth in revenues of 38% to EUR 184 million (1H of 2009/10: EUR 133 million). The Consumer Optics/Optronics business group, which combines the company“s business with binoculars, planetariums, camera and cine lenses as well as optronic products, reported revenues totaling EUR 162 million (1H of 2009/10: EUR 156 million). This corresponds to an increase of 4% over the previous year.