Although management was cautious, FY20/21 has got off to an encouraging start with sales growth (at CER) back in the black in Q1 – driven by robust recurring revenue in ophthalmic devices and a strong show in Asia Pacific. Development in earnings was even stronger on the back of improving mix and strict cost discipline. Management expects revenue and EBIT to continue to recover over the course of the year, though the Q1 20/21 EBIT margin seems unsustainable.
08 Feb 2021
Early recovery driven by recurring revenue and Asia Pacific
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Early recovery driven by recurring revenue and Asia Pacific
Although management was cautious, FY20/21 has got off to an encouraging start with sales growth (at CER) back in the black in Q1 – driven by robust recurring revenue in ophthalmic devices and a strong show in Asia Pacific. Development in earnings was even stronger on the back of improving mix and strict cost discipline. Management expects revenue and EBIT to continue to recover over the course of the year, though the Q1 20/21 EBIT margin seems unsustainable.