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| Annual PC 2009 |
| Carl Zeiss Looks Back on Successful 2007/08 Fiscal Year: Five Percent Increase in Revenues | Downloads and Links | ||
| Start to new fiscal year varies among the business groups Fiscal year 2007/08:
1st quarter of 2008/09:
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Deutsche Version
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| FRANKFURT am Main/Germany, 10.03.2009. The Carl Zeiss technology group is presenting a healthy balance sheet for fiscal year 2007/08 (ended 30 September). At the company’s annual press conference in Frankfurt, Dr. Dieter Kurz, President and CEO of Carl Zeiss AG, stated: “2007/08 was a successful fiscal year for the company. Overall, we are very satisfied with the five percent increase in revenues despite the increasingly difficult economic climate.” Commenting on the start to the new fiscal year, Kurz said: “In the first three months of the new fiscal year we posted revenue growth in the Medical Systems, Microscopy and Optronics Groups. However, many of our customers, and therefore we too, are feeling the effect of the global downturn. The impact is particularly severe in the Semiconductor Technology Group and, since the current quarter, also in the Industrial Metrology Group. However, thanks to our broad business portfolio, we are in a relatively good situation.” Further expansion of international business Revenues of the Carl Zeiss Group in fiscal year 2007/08 rose five percent to EUR 2,731 million (last year: EUR 2,604 million). The increase in revenues was slightly reduced by currency effects: after adjustment for exchange rate influences, revenues increased by eight percent. The company generated 84 percent of its business outside Germany. At EUR 343 million, EbIT once again reached a high level (last year: EUR 394 million) in fiscal year 2007/08. This figure was influenced, among other things, by the expansion of the global service and sales teams and by the increased expenditure on research and development. Earnings before income taxes totaled EUR 278 million (last year: EUR 375 million) and were therefore below last year’s record value. Net income amounted to EUR 178 million (last year: EUR 233 million). Cash flow before income taxes reached EUR 496 million, equating to 18 percent of revenues (last year: EUR 549 million; 21 percent). Increase in equity ratio to 33 percent On the balance sheet date Carl Zeiss had cash and cash equivalents totaling over EUR 950 million (last year: EUR 962 million) and net liquid assets of EUR 615 million (last year: EUR 612 million). “The equity ratio has risen by three percentage points from 30 to 33 percent. This continues the positive trend reported in the previous years,” emphasized Dr. Michael Kaschke, Member of the Executive Board and CFO of Carl Zeiss AG. The financial performance ratio EVA® (Economic Value Added) serves as an internal indicator of business success. EVA® totaled EUR 122 million (last year: EUR 133 million) in fiscal year 2007/08. Investments increased – R&D strengthened In fiscal year 2007/08 Carl Zeiss invested a total of EUR 118 million in property, plant and equipment (last year EUR 107 million), primarily in state-of-the-art production equipment and infrastructural improvements. This compared to depreciations totaling EUR 99 million (last year: EUR 114 million). Carl Zeiss generates more than 60 percent of its revenues with products not older than five years. This underscores the company’s rapid implementation of its innovative ideas in the form of marketable, successful products. In fiscal year 2007/08 the company applied for a total of 422 new patents (last year: 384) – an average of two patent applications per workday. To expand its position as a technology leader, Carl Zeiss is making ongoing investments: in the past fiscal year the technology group invested EUR 321 million – 12 percent of revenues – in its research and development activities (last year: EUR 290 million). Volume of acquisitions increased Carl Zeiss has further expanded its business portfolio through acquisitions. In fiscal year 2007/08 the Group spent a total of EUR 65 million on acquired companies which were incorporated in the scope of consolidation. These include the companies Dr. Wolf & Beck GmbH, Junker & Partner GmbH, *Acri.Tec AG, all in Germany, Anaspec CC (South Africa) and Pixer Technology Ltd. (Israel). Modest start to the new fiscal year In the first three months of fiscal year 2008/09 the general recession also left its mark on Carl Zeiss: with a total of EUR 601 million, revenues were 17 percent below the corresponding value of the same period last year (EUR 723 million). An increase in revenues over the previous year was posted by Medical Systems, Microscopy, Industrial Metrology and Consumer Optics/Optronics. Due to the downturn in the semiconductor market, however, revenues in the Semiconductor Technology Group fell clearly short of last year's level. Incoming orders were 16 percent below the previous year's figure. A drop in demand is particularly evident in the Semiconductor Technology and Industrial Metrology Groups. The company has initiated cost-curbing measures in all business groups aimed at cushioning the impact of the fluctuations in the economic and order situations. In addition, Carl Zeiss is utilizing the benefits offered by its flexible personnel tools. Flextime accounts are being reduced and employees are being deployed in other parts of the company, for example. The number of temporary employees has been decreased. “In the current situation our flexible working hour models and temporary transfers to other workplaces within the Carl Zeiss Group are unfortunately not sufficient in every case,” said Dr. Dieter Kurz. “Therefore, we have agreed to introduce short-time working or furlough programs for around 1,300 employees in various divisions during the first half of 2009. With this move, we are endeavoring to cushion the effect of the downturn in demand, reduce costs and, at the same time, keep our core employees in the company," the CEO continued. “In view of the current market developments, a high degree of flexibility is particularly important in the individual divisions of the company in order to implement the necessary adjustments." Outlook Thanks to its broad business portfolio and innovative product spectrum, Carl Zeiss assumes that it can safeguard or expand its market positions. In the current fiscal year, the company will once again benefit from the balance sheet structure which is characterized by a high level of liquid assets and a good equity ratio. “We have laid a solid foundation by constantly strengthening our business. With our portfolio, the high level of liquid assets and our investments in research and development, we consider ourselves well poised to continue pursuing our set objectives, despite the present difficult economic scenario,” CEO Dr. Dieter Kurz predicted. To maintain its technology leadership, Carl Zeiss will continue to precisely target its investments, particularly in research and development, in the future. Jörg Nitschke Vice President Corporate Communications Carl Zeiss AG Phone: +49 7364 20-3242 Fax: +49 7364 20-3122 E-Mail: 
j.nitschke@zeiss.deNumber: 0054-2009-ENG CC Number of Words: 1191 Number of Characters: 8395 |
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