Carl Zeiss Meditec AG (FRA:AFX)

Q4 2025 Carl Zeiss Meditec AG Earnings Call Transcript

Dec 11, 2025 / 06:00 AM GMT

Release Date Price: €40.16 (-6.17%)

Transcript

Key Points

Positve

Carl Zeiss Meditec AG (CZMWF) reported solid revenue growth of 7.8% year over year, reaching €2,228 million.
Order entry increased by 18.2% year over year, indicating strong demand across all regions.
The company achieved a new all-time high with 50% of its revenue coming from recurring items.
Microsurgery saw a strong momentum in Q4 with a top-line acceleration of more than 16%.
The company has a robust innovation pipeline and is committed to sustainable, profitable growth.

Negative

EBITA margin slightly decreased to 11.6% from 12% the previous year, impacted by US tariffs and negative foreign exchange effects.
The company faces potential risks from geopolitical uncertainties, trade barriers, and regulatory changes.
There is a potential scrapping risk for certain products in China due to re-registration requirements.
The US tariffs continue to represent a notable risk for growth, affecting pricing and competitiveness.
The company is experiencing declining innovation efficiency and needs to improve commercialization efforts.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AFXG.DE - Carl Zeiss Meditec AG
Q4 2025 Carl Zeiss Meditec AG Earnings Call
Dec 11, 2025 / 06:00AM GMT

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Presentation
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Unidentified_1 [1]
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Okay, so, welcome everybody to Frankfurt.

Thanks for joining us today, the conference today for a year and I think I'll it will surprise nobody if I'm, I say we planned it a little bit differently in light of of this week's news. I'm delighted to have Andreas with us, CEO of the Zeiss Group, and as of January 1st, our new interim CEO at Meditech as well, and Eustus, of course, was always planned to be here today. So, no, thank you very much for joining us. Also, warm welcome to everybody joining us online for this year and conference. Our numbers out this morning. We'll first, as you, would typically expect, go through. The financials go to the outlook for fiscal 25, 26, and after that you will have Andreas do a bit of a

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