JENA, Germany—Carl Zeiss Meditec announced earnings yesterday for the first nine months of the company’s 2025/2026 fiscal year, with generated revenue of approximately €1,553.7 million, corresponding to a decline of 2.9 percent (or flat when adjusted for currency effects), the company said. Adjusted EBITA fell to €124.5 million from €177.0 million in the prior-year period, with adjusted EBITA margin falling to 8 percent from 11.1 percent the prior year. For the third quarter, the company saw a 2.4 percent increase (4.6 percent when currency adjusted) versus the same period last year, with total group revenue reaching €562.7 million in Q3 as compared with €549.6 million during Q3 last year.
“Revenue development stabilized on a currency-adjusted basis after nine months. At the same time, we are seeing solid development in the order backlog,” said Justus Felix Wehmer, chief financial officer of Carl Zeiss Meditec AG. “Our focus remains unchanged: sustainably improving profitability and consistently implementing the measures initiated.”
For the nine-month period, the company pointed to “heterogenous” revenue development across business units. Within the ophthalmology strategic business unit (SBU), revenue was reported at €1,191.4 million, a decline of 4.8 percent (2.9 percent when adjusted for currency effects) from the prior year’s €1,251.1 million. In addition to negative currency effects, the company attributed the results to what it said was a weaker intraocular lens business in China. The company’s microsurgery SBU generated revenue of €362.3 million for the first nine months of the fiscal year, an increase of 3.8 percent (7.1 percent when adjusted for currency effects) versus the prior-year period. The company attributed the increase to strong deliveries of neurosurgical operating microscopes.
For performance by region in the first nine months, revenue in the Americas fell 2.6 percent to €397.0 million, down from €407.5 million the previous year, the company stated. In the United States, revenue increased slightly on a currency-adjusted basis, while revenue in Latin America declined. In the EMEA region, revenue increased by 5.4 percent (5.8 percent when adjusted for currency effects) to €509.0 million, with growth achieved in all core European markets, the company said. The APAC region recorded a significant revenue decline of 8.7 percent (7.6 percent when adjusted for currency effects) to €647.8 million (prior year, €709.9 million). While India generated growth, revenue declined in China, Japan and South Korea.
Turning to its outlook for the remainder of fiscal year 2025/2026, the company advised that it began to make the first decisions as part of its “ProfitUp” program, including the launch of initial workstreams and discussions with employee representatives. Further, the company integrated its ophthalmic surgery business by combining the anterior and posterior surgery segments.
In parallel, options to optimize global manufacturing are being evaluated, the company said, including preparations for a future manufacturing site in India. The company also advised that in the surgical instruments business, the Katalyst LLC portfolio in Missouri is being streamlined due to overlaps with the D.O.R.C. portfolio, with additional portfolio optimization opportunities current being evaluated.
Carl Zeiss Meditec expects a volatile global macroeconomic environment for the remainder of the year, the company said, attributable in part to persistently subdued investment activity and volatility in foreign exchange markets. The company expects revenue to reach approximately €2.15 billion to €2.20 billion for the 2025-2026 fiscal year, they advised. In the medium term, it expects organic revenue growth at least in the mid single-digit percentage range, as well as recovery of the adjusted EBITA margin to around 15 percent.
