Strong portfolio offsets cyclical fluctuations in the Semiconductor Manufacturing Technology business group
- Major investments in modernization of Company
- Expansion of international Business
- Investments in research and development increased by 14 percent
STUTTGART/Germany, 13.12.2012.
The Carl Zeiss Group ended fiscal year 2011/12 (reporting date: 30 Sept. 2012) with a two percent increase in revenue. Revenue totaled EUR 4.163 billion and therefore surpassed the previous year’s figure (prior year*: EUR 4.084 billion). Earnings (EBIT) totaled EUR 420 million (prior year*: EUR 608 million). Particularly strong year-on-year growth was recorded by the Industrial Metrology and Medical Technology business groups. The Vision Care and Microscopy business groups showed a stable development. However, the Semiconductor Manufacturing Technology business group reported a downturn in revenue that was expected for 2012 and which is typical of this industry.
“2011/12 was a very successful fiscal year for Carl Zeiss. We have surpassed the figure we forecast last year: revenue is slightly above the equivalent total recorded in the prior year. Earnings were impacted by our high level of investment in the company’s expansion and by the downturn in the Semiconductor Manufacturing Technology business group, and therefore fell below last year’s figure as expected,” said Dr. Michael Kaschke, President and CEO of Carl Zeiss. “What is particularly notable is that our strong portfolio has enabled us to successfully offset the cyclical downturn in the revenue of the Semiconductor Manufacturing Technology business group. This would not have been possible just a few years ago.” In addition to organic growth the stable domestic economy, ongoing growth in Asia and positive currency effects have all contributed to the overall positive business trend in 2011/12.
Change in the basis of consolidation
At the end of the fiscal year a 75.1 percent share in the company’s Security and Defense Systems unit was sold by Carl Zeiss to Cassidian, a division of the EADS Group. In the 2011/12 consolidated financial statements this business is now classified as a discontinued operation (as per IFRS 5) and was deconsolidated effective 30 September 2012.
International success – ten percent increase in revenue in Asia/Pacific region
Carl Zeiss generates 88 percent of its revenue outside Germany. A particularly high level of revenue growth was reported by the Asia/Pacific region (APAC): here, the Carl Zeiss Group increased its revenue by ten percent to a total of EUR 810 million after currency adjustments (prior year*: EUR 698 million). In the Europe, Middle East and Asia region (EMEA) Carl Zeiss generated growth of seven percent after currency adjustments. Here, revenue totaled EUR 1.398 billion – including EUR 487 million in Germany (prior year*: EUR 1.298 billion, including EUR 464 million in Germany). In the Americas the company generated revenue totaling EUR 1.056 billion, three percent more than last year (prior year*: EUR 963 million). Due to the downturn in the Semiconductor Manufacturing Technology business group the business with cooperation partners displayed a downward trend: revenue decreased by 20 percent to EUR 899 million (prior year*: EUR 1.125 billion).
At the end of the fiscal year EBIT (Earnings before Interest and Taxes) amounted to EUR 420 million (prior year*: EUR 608 million). Earnings before income taxes amounted to EUR 335 million (prior year*: EUR 570 million). Earnings after income taxes amounted to EUR 250 million
(prior year*: EUR 394 million).
