Carl Zeiss Meditec (CZM) reported a decent set of Q2 17 results, wherein organic revenue came in marginally below our estimates but profitability outperformed. Revenue at CER was up 8.7% (vs AV’s estimate: +10%; Q1 17: +5.4%) on the back of sustained growth in the ophthalmic devices segment (+10.9% vs AV’s estimate: +12.5%; accounts for c.73% of Q2 17 revenue). Within the segment, the growth was driven by the refractive laser and the cataract business (intraocular lenses ‘IO
15 Jul 2017
Margin outperformance a surprise; acquisition on the cards
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Margin outperformance a surprise; acquisition on the cards
Carl Zeiss Meditec AG (AFX:WBO) | 0 0 1.8% | Mkt Cap: 4,494m
- Published:
15 Jul 2017 -
Author:
Sumit Sayal -
Pages:
3
Carl Zeiss Meditec (CZM) reported a decent set of Q2 17 results, wherein organic revenue came in marginally below our estimates but profitability outperformed. Revenue at CER was up 8.7% (vs AV’s estimate: +10%; Q1 17: +5.4%) on the back of sustained growth in the ophthalmic devices segment (+10.9% vs AV’s estimate: +12.5%; accounts for c.73% of Q2 17 revenue). Within the segment, the growth was driven by the refractive laser and the cataract business (intraocular lenses ‘IO