Carl Zeiss Meditec reports revenue decline amid COVID-19 pandemic
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Carl Zeiss Meditec saw a decline in revenue in its 2019-2020 fiscal year, down 8.5% to 1,335.5 million euros, due to the COVID-19 pandemic, according to a press release.
Revenue in the company’s ophthalmic devices strategic business unit decreased 7.3%, while the microsurgery strategic business unit decreased 11.7%.
In the Americas, revenue decreased 13.2%, with significant decreases in the United States and Brazil, which both experienced growth in the first 6 months of the fiscal year, the release said.
In the Europe, Middle East and Africa region, revenue decreased 13.1%, while revenue in the Asia-Pacific region decreased 1.8%, which the company attributed to a strong recovery in China and South Korea in the second half of the year.
“Fiscal year 2019-20 was entirely dominated by the COVID-19 pandemic,” Ludwin Monz, PhD, president and CEO of Carl Zeiss Meditec, said in the release. “Our top priority was the close cooperation with our customers and protecting our employees. We responded quickly to the short-term decline in demand, secured our production and delivery capacity, and adjusted costs. A stable overall surgical consumables business also helped to limit the decline in revenue and profit.”
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