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EQS-Ad-hoc: Carl Zeiss Meditec AG / Key word(s): Change in Forecast/Profit Warning
Carl Zeiss Meditec AG: Revenue and EBIT forecast for fiscal year 2023/24 reduced amid slower than expected recovery of
equipment business
17-Jun-2024 / 10:09 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News
- a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Revenue and EBIT forecast for fiscal year 2023/24 reduced amid slower than expected recovery of equipment business

Jena, June 17, 2024
In the first 8 months of fiscal year (FY) 2023/24 as of May 31, 2024, excluding the contribution from the acquisition
of Dutch Ophthalmic Research Center B.V. (DORC), Carl Zeiss Meditec AG (ISIN: DE0005313704) had preliminary revenue of
EUR 1,258 million (prior year: EUR 1,297 million, -3%). Preliminary operating profit (EBIT) amounted to EUR 135 million
(prior year: EUR 183 million, -26%), excluding the contribution from the acquisition of DORC as well as integration cost
related to the acquisition. In the combined months of April and May 2024, order entry, revenue and EBIT continued to
fall short of the previous year's level. As a consequence of the continued slow business development, the previous
forecast for FY 2023/24 is lowered: Revenue is now expected to reach around EUR 2,000 million, excluding the contribution
from the acquisition of DORC, which continues to be estimated at an additional EUR 100 million for the second half of the
fiscal year (previous target: EUR 2,100 - EUR 2,150 million, excluding DORC). Due mainly to the resulting lack of positive
operating leverage from weaker overall revenue assumptions, as well as more cautious assumptions for consumables sales
in the second half of the current fiscal year, leading to a weaker product mix, EBIT (excluding effects related to the
DORC acquisition) will fall significantly short of the previously stated target of a comparable level to last year (EUR
348.1 million) and reach a level between around EUR 215 million up to around EUR 265 million.
Soft development of order entry and revenue continues to be mainly driven by the equipment business, suffering from a
restrictive investment climate among key customer groups, particularly in North America. In addition, the important
peak season for refractive surgeries in China is off to a slow start, with consumables orders in the country trailing
the past year's figures during the third quarter so far. The slower than anticipated roll-out of national volume-based
procurement for intraocular lenses in China is also causing an additional headwind to revenue and EBIT.
Management is taking further measures to reduce operating expenses to adjust to the weaker market environment,
predominantly in sales & marketing as well as research & development. A further update will be provided with Q3 2023/24
results on August 6, 2024.
Carl Zeiss Meditec is targeting renewed growth for the upcoming fiscal year 2024/25, supported by the launch of
innovative new products into key markets in both strategic business units. In the mid-term, the goals of growing at
least as fast as the underlying markets as well as reaching an EBIT margin level sustainably above 20% remain
unchanged.
The quarterly statement for 9M 2023/24 will be published on August 6, 2024.

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Contact for investors and press

Sebastian Frericks

Head of Group Finance & Investor Relations

Carl Zeiss Meditec AG

Tel.: +49 3641 220-116

E-Mail: investors.meditec@zeiss.com End of Inside Information

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17-Jun-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com

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Language:     English 
Company:      Carl Zeiss Meditec AG 

Göschwitzer Str. 51-52
07745 Jena, Germany
Germany

Phone:        +49 (0)3641 220-0 
Fax:          +49 (0)3641 220-112 
E-mail:       investors.meditec@zeiss.com 
Internet:     www.zeiss.de/meditec-ag/ir 
ISIN:         DE0005313704 
WKN:          531370 
Indices:      MDAX, TecDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 

Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1926437

End of Announcement EQS News Service
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1926437 17-Jun-2024 CET/CEST

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June 17, 2024 04:10 ET (08:10 GMT)