FX.co ★ Carl Zeiss Meditec Cuts FY2023-24 Revenue Outlook

Carl Zeiss Meditec AG (CZMWF.PK) on Monday revised its revenue forecast for the fiscal year 2023-24, noting a 3 percent decline in adjusted revenue for the first eight months compared to the same period of the previous year.

The company now anticipates fiscal revenue to be around €2,000 million, lower than the prior forecast of €2,100-€2,150 million. This updated outlook does not include the expected contribution from the acquisition of DORC, estimated to add an additional €100 million during the second half of the fiscal year.

For the initial eight months of the fiscal year, preliminary revenues amounted to €1.258 billion, down from €1.297 billion in the prior year.

Additionally, the company stated that EBIT, excluding the impact of the DORC acquisition, will significantly fall short of the previous target of €348.1 million. Instead, EBIT is projected to be within the range of €215-€265 million.

Carl Zeiss Meditec is slated to release its quarterly statement for the first nine months of 2023/24 on August 6, 2024.