Ad-hoc | 12 February 2004 07:32

Carl Zeiss Meditec AG: Consolidated net income increased by a third

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Consolidated net income increased by a third (Jena, 12 February 2004) In the first quarter of the financial year 2003/2004 Carl Zeiss Meditec AG further improved its profit situation, despite a slight downturn in sales. Consolidated net income grew by more than a third to EUR 3.5m (previous year: EUR 2.5m). This is mainly attributable to a continued improvement in the gross margin of 43.7% due to innovative products and optimised manufacturing costs (previous year: 40.4%). Changes in exchange rates between the euro and US dollar and Japanese yen caused sales to fall slightly (by 3.3%) to EUR 58.4m compared to EUR 60.4m in the same period of the previous year. Had exchange rates remained constant, however, sales would have increased by 6.7% to EUR 64.5m. Activities have been expanded, particularly in the marketing & sales and research & development sectors, in order to set the stage for planned growth. Despite this, the EBIT margin increased slightly over the previous year. In the first quarter the latter stood at 10.5% (previous year: 10.2%). This corresponds to a value of EUR 6.1m (previous year: EUR 6.1m). There has been a significant improvement in cash flow from operating activities. Compared to the same period of the previous year, the latter grew by 156.6% to EUR 5.0m (previous year: EUR 2.0m). The equity ratio has improved several times in succession and now stands at 61% (30 September 2003: 59%). Net debt again decreased to EUR 18.8m (30 September 2003: EUR 24.2m). This year the company will continue laying the foundations, as planned, for future growth. In consideration of exchange rate trends and under the assumption of a continued strong euro the company anticipates a single-digit percentage growth in sales in 2004. On the other hand, a further improvement in profitability is expected. The return on sales is to be substantially increased. Contact: Carl Zeiss Meditec AG, Jens Brajer/Investor Relations, Göschwitzer Str. 51 -52, D-07745 Jena, Phone: +49 (0)3641-220-105, Fax: +49 (0)3641-220-102, e-mail: investors@meditec.zeiss.com end of ad-hoc-announcement (c)DGAP 12.02.2004 ——————————————————————————– WKN: 531370; ISIN: DE0005313704; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 120732 Feb 04