Carl Zeiss Meditec AG: Revenue and EBIT forecast for fiscal year 2023/24
reduced amid slower than expected recovery of equipment business

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.

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    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.

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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   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