JENA (dpa-AFX) - Carl Zeiss Meditec AG (CZMWF.PK), a German manufacturer of optical systems, reported Monday that its first-half earnings went up to 0.65 euro per share from 0.63 euro per share a year ago.
Earnings before interest and taxes or EBIT grew significantly to 110.4 million euros from prior year's 88.2 million euros. The EBIT margin also increased to 16.5 percent from last year's 14.4 percent.
This increase was mainly driven by a favorable development of product mix with a high share of recurring revenue. Adjusted for special effects, margin grew to 16.8 percent from 14.7 percent last year.
Carl Zeiss generated revenue of 667.2 million euros, up 8.7 percent from 613.7 million euros a year ago. Adjusted for currency effects, revenues grew 6.8 percent.
Looking ahead for fiscal 2019, the company expects to achieve sales of 1.35 billion euros to 1.42 billion euros.
Due to the strong level of the EBIT margin in the first half, the company expects an EBIT margin between 15.0 percent to 17.5 percent.
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