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Carl Zeiss Meditec books 13.9% YOY hike in fiscal 2019 revenue

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Carl Zeiss Meditec books 13.9% YOY hike in fiscal 2019 revenue

Carl Zeiss Meditec AG said revenue for fiscal year 2019 rose 13.9% year over year to €1.46 billion.

Revenue for the prior fiscal year was €1.28 billion.

The Jena, Germany-based medical technology company booked €1.07 billion in revenue in its ophthalmic devices strategic business unit, a 14.5% year-over-year rise from €933.2 million. The increase was mainly attributable to laser systems for vision correction, as well as devices and consumables for cataract surgery.

In the microsurgery division, revenue saw a 12.4% hike to €390.7 million from €347.6 million, with continued growth in sales of visualization systems for neurosurgeons, for the treatment of tumors and vascular diseases.

Carl Zeiss Meditec reported EBIT of €264.7 million during the fiscal year, up on an annual basis from €197.1 million. EBIT margin for fiscal 2019 was 18.1%, compared to the prior year's 15.4%.

For fiscal year 2020, the company anticipates EBIT margin to be between 17% and 19%.