Germany's Carl Zeiss Meditec 9-month revenue falls 2.9%

Carl Zeiss Meditec AG

06/08/2026 06:17

Overview
Germany medical technology firm's 9-month revenue declined 2.9%, but was flat on currency-adjusted basis
Adjusted EBITA margin fell to 8.0% from 11.1% due to negative currency effects and lower consumables
Ophthalmology revenue declined, mainly on weaker China demand and intraocular lens withdrawal

Outlook
Company expects FY 2025/26 revenue of around €2.15 bln to €2.20 bln
Carl Zeiss Meditec sees FY 2025/26 adjusted EBITA margin between 8% and 10%
Company expects impairment of goodwill of around €150 mln in Ophthalmology SBU in Q4 2025/26

Result Drivers
CHINA DEMAND & LENS WITHDRAWAL - Ophthalmology revenue declined mainly due to weaker intraocular lens business in China from withdrawal of bifocal lens from procurement tender and related inventory returns
REFRACTIVE LASER & INVESTMENT ENVIRONMENT - Decline in refractive laser business due to lower procedure volumes and increasingly softer investment environment in equipment, particularly in APAC
MICROSURGERY GROWTH - Microsurgery unit revenue increased, mainly due to strong deliveries of neurosurgical operating microscopes

Company press release: ID:nEQRHpBva

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
9M Revenue
 
EUR 1.55 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 15 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the advanced medical equipment & technology peer group is "buy."
Wall Street's median 12-month price target for Carl Zeiss Meditec AG is €28.00, about 7.5% below its August 5 closing price of €30.28
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 16 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)