Carl Zeiss Meditec Ag · XETR:AFX

Carl Zeiss Meditec — Investor Presentation (August 2023)

34 slides from Carl Zeiss Meditec's investor presentation, August 2023

  1. Slide 1: Carl Zeiss Meditec Group Investor Presentation

    Carl Zeiss Meditec Group Investor Presentation Investor Relations August 2023

  2. Slide 2: Agenda

    Agenda 01 At a Glance 02 Strategy 03 Facts and Figures 04 Outlook 05 Appendix ZEISS Page 2

  3. Slide 3: Leading market position in Ophthalmology and Microsurgery

    Leading market position in Ophthalmology and Microsurgery Solid revenue development over last 5 years Total revenue MCS 2021/22 € 1,902.8 million 23% 2020/21 of total revenue OPT 2019/20 € 1,647 million 77% € 1,335 million of total revenue 2018/19 Reporting date September 30, 2022 € 1,459 million 20

  4. Slide 4: Our markets benefit from structural tailwinds

    Our markets benefit from structural tailwinds Attractive outlook for Medical Technology 1 Aging of the population and growing affluence Continuously increasing volume of cataract surgeries 2 Accelerating myopia and high myopia prevalence Demand on premium vision quality 3 Growing patient load requir

  5. Slide 5: Ophthalmology: Advancing eye care

    Ophthalmology Advancing eye care - Every step of the way 2021/22 € 1,469.3 million revenue 2020/21 € 1,255.7 million OPT 2019/20 € 990.6 million 2018/19 € 1,068.6 million 77% of total revenue 2017/18 € 933.2 million Reporting date September 30, 2022 Ophthalmic Diagnostics Refractive Laser Surgery Su

  6. Slide 6: Microsurgery: Redefining surgical visualization

    Microsurgery Redefining surgical visualization 2021/22 € 433.6 million revenue 2020/21 € 391.1 million MCS 2019/20 € 344.8 million 2018/19 € 390.7 million 23% of total revenue 2017/18 € 347.6 million Reporting date September 30, 2022 Visualization In-Vivo Pathology Surgical Oncology Neuro, ENT, Spin

  7. Slide 7: ZEISS has leading positions in most markets

    ZEISS has leading positions in most markets Leading position in Microsurgery Leading position in fragmented Ophthalmic Diagnosis Market Haag- ZEISS Haag- ZEISS Streit ~ 20% Nikon Streit LEICA > 60% TOPCON NIDEK Olympus Leading position in Refractive Laser Surgery Challenger position in large Surgica

  8. Slide 8: Agenda

    Agenda 01 At a Glance 02 Strategy 03 Facts and Figures 04 Outlook 05 Appendix ZEISS Page 8

  9. Slide 9: Strong position in key technologies and leading in market shaping innovation

    Strong position in key technologies and leading in market shaping innovation 1 ZEISS innovates to drive customer value through LEADING INNOVATION AND PUSHING THE BOUNDARIES OF TECHNOLOGY Shaping technological progress by turning state-of-the-art technology into superior applications superior solutio

  10. Slide 10: APAC has become the largest region for Carl Zeiss Meditec AG

    APAC has become the largest region for Carl Zeiss Meditec AG Carl Zeiss Meditec Group’s largest markets in terms of revenue Carl Zeiss Meditec Group’s regional split Ranked by proportion of total revenue In % of total revenue 2021/22 Americas 25.6% Germany China #1 #3 US #2 South Korea #5 France #6

  11. Slide 11: Broad and diversified portfolio with growing share of recurring revenue

    Broad and diversified portfolio with growing share of recurring revenue Share of recurring revenue has advanced steadily over two decades 2021/22 ~46% of total revenue 2002/03 of €1,902.8 million 9%  More recurring revenue has allowed for profitable growth and less cyclicality  We steadily broaden

  12. Slide 12: Global IOL surgeries projected to grow strongly; myopia prevalence to expand

    Global IOL surgeries projected to grow strongly over next five years Myopia prevalence to significantly expand in next decades Premium IOL trend until 20271 Global myopia prevalence2 in million units in million people 40 30% 5000 49.8% 35 25% 4000 30 20% 25 3000 34.0% 20 15% 14.9% 2000 15 22.9% 12.0

  13. Slide 13: OPT - ZEISS ophthalmic surgical solutions cover entire ocular lifecycle

    OPT - ZEISS ophthalmic surgical solutions cover a patient‘s entire ocular lifecycle Age 0 18 + 40 45 65 85 Ametropia (Myopia, Hyperopia, Astigmatism) Condition Presbyopia Cataract LVC Lenticule Extraction SMILE® Solutions LASIK PRESBYOND® Solution PRK s IOLs Monofocal & Monofocal toric CT LUCIA ® /

  14. Slide 14: OPT - Most comprehensive diagnostic and surgical solution portfolio

    OPT - ZEISS provides the most comprehensive diagnostic and surgical solution portfolio in eye care Routine Diagnostics + + + Diagnostics Retinal Imaging + + + Perimetry + + Biometry + + + + Therapeutic Laser + + Refr. Laser Surgery + + + + Surgical Surgical Microscopy + + + + Phaco & IOLs + + + + 

  15. Slide 15: ZEISS Medical Ecosystem - Roll-out underscores lead in digital solutions

    ZEISS Medical Ecosystem - Roll-out underscores lead in digital solutions ZEISS Medical Ecosystem represents a fully integrated environment where a combination of devices, data management, software applications and services enable our customers to stay connected to each other and to their patients. C

  16. Slide 16: ZEISS Medical Ecosystem - Cataract Workflow

    ZEISS Medical Ecosystem - Cataract Workflow Integrated solutions to provide highest level of care ZEISS Page 16

  17. Slide 17: ZEISS Medical Ecosystem - Tumor Workflow

    ZEISS Medical Ecosystem - Tumor Workflow Integrated solutions to provide highest level of care ZEISS See. Check. Treat. Tumor Workflow Reconsidered brain tumor Visualize of small and Enable real-time feedback on Precisely target and treatment standard, striving for fluorescence-stained structures ti

  18. Slide 18: MCS - At the forefront of innovation for decades

    MCS - At the forefront of innovation for decades, applying our specialized know-how  We have grown the market by replacing the installed base with next generation technology and driving system value (intraoperative diagnostics)  Kinematics & Robotics – providing a maximum of flexibility, movement

  19. Slide 19: MCS - Strong position with a durable competitive advantage

    MCS - Strong position with a durable competitive advantage Largest R&D team for surgical visualization Leading in bringing robotic and advanced video technology to microsurgery Close collaboration with our customers Technology leadership Strong brand High customer loyalty High market share Long prod

  20. Slide 20: MCS - Continue to benefit from several growth drivers

    MCS - Continue to benefit from several growth drivers + Innovation – We remain at the cutting edge – our products provide added clinical value and/or efficiency gains for our customers + Shortening of Replacement Cycles – Technological progress and new applications lead to shorter replacement cycles

  21. Slide 21: Agenda

    Agenda 01 At a Glance 02 Strategy 03 Facts and Figures 04 Outlook 05 Appendix ZEISS Page 21

  22. Slide 22: Solid revenue growth in 9M 2022/23 with continued high order backlog

    Solid revenue growth in 9M 2022/23 with continued high order backlog Weaker product mix amid ongoing strategic investment leads to reduced EBIT Revenue 9M 2022/23 FX-adj. revenue growth of +12.9% € 1,509.6 million   Positive revenue trend in both SBUs and all regions despite continuing supply chai

  23. Slide 23: Ophthalmology: Topline growth driven by accelerating device deliveries

    Ophthalmology Topline growth primarily driven by accelerating deliveries of devices Revenue 9M 2022/23 FX-adj. revenue growth of +11.8% € 1,152.3 million  Delivery of devices accelerated towards end of period – Visumax lead times still elevated 9M 2021/22 +12.2%  1,027.2  Refractive treatment pac

  24. Slide 24: Microsurgery: Robust profitable growth despite supply chain strains

    Microsurgery Robust profitable growth despite continued supply chain strains Revenue 9M 2022/23 FX-adj. revenue growth of +16.5% € 357.3 million  9M 2021/22 +16.9%  Still elevated order backlog 305,7 EBIT margin 9M 2022/23 Gross margin improvement due to positive pricing effect 23.4%  9M 2021/22

  25. Slide 25: Revenue growth across all regions

    Revenue growth across all regions Strongest growth momentum in Americas Americas 9M 2022/23 FX-adj. revenue increase of +19.5% 27.2%  € 410.3 million  Strong growth across almost all countries, in US Americas 9M 2021/22 +24.2% particularly driven by conversion of order backlog 330.4 EMEA 9M 2022/2

  26. Slide 26: P&L analysis - High level of investment continues to weigh on margins

    P&L analysis – High level of investment continues to weigh on margins OpEx ratios trending higher y/y Income Statement in € million in % of sales  Gross margin improved sequentially (though still lower y/y) 865.5 57.3 based on less share of recurring revenue and only partial Gross profit 785.2 58.9

  27. Slide 27: Adjusted EBIT margin amounted to 16.8%

    Adjusted EBIT margin amounted to 16.8% Adjusted EBIT margin 9M 2022/23 9M 2021/22 Change to PY € million € million % EBIT 244.9 275.9 -11.2 ./. Acquisition-related special items -8.0 -6.1 +31.1 Adjusted EBIT 252.9 282.0 -10.3 Adjusted EBIT in % of revenue 16.8% 21.2% -4.4 pps.  Acquisition related

  28. Slide 28: Agenda

    Agenda 01 At a Glance 02 Strategy 03 Facts and Figures 04 Outlook 05 Appendix ZEISS Page 28

  29. Slide 29: Outlook for the remainder of FY 2022/23

    Outlook for the remainder of FY 2022/23 and for the planned reduction of high consumables inventories in China specified  Revenue expected to be approximately €2.1 billion in FY 2022/23 (growth of approximately 10% y/y)  Supply chains have slowly stabilized in the reporting period, but delivery ti

  30. Slide 30: Agenda

    Agenda 01 At a Glance 02 Strategy 03 Facts and Figures 04 Outlook 05 Appendix ZEISS Page 30

  31. Slide 31: Medical Technology is a deeply integrated core business for the ZEISS Group

    Medical Technology is a deeply integrated core business for the ZEISS Group Carl Zeiss Foundation Heidenheim/Jena, Germany Shared Services across the Zeiss Group 100% Corporate Services Carl Zeiss AG (e.g. Treasury, Legal) Oberkochen, Germany 2021/22: € 8.8bn revenue Basic R&D Semiconductor Manufact

  32. Slide 32: Upcoming Events 2022/23

    Upcoming Events 2022/23 10 Feb. 2023 9 May 2023 12 Dec. 2023 Publication of 3M Report and Analyst Publication of 6M Report and Analyst Publication of FY 2022/23 Annual Conference Conference Report and Analyst Conference Publication of 9M Report and Analyst Annual General Meeting, virtual Conference

  33. Slide 33: Contact

    Contact Sebastian Frericks Head of Group Finance & Investor Relations Phone: +49 (0) 36 41 / 2 20 - 1 16 Fax: +49 (0) 36 41 / 2 20 - 1 17 Email: [email protected] Web: www.zeiss.com/meditec-ag/investor-relations ZEISS Page 33

  34. Slide 34: Seeing beyond

    Seeing beyond

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