14 At-equity investments

The Group holds 33.8% of the shares in Vibrosonic GmbH, based in Mannheim, Germany, in order to participate in a development project.

In addition, unchanged from the previous year, the Group held 50% of the shares in Wuxi Carl Zeiss Vision Pro Medical Technology Co., Ltd. based in Wuxi, China. This is a joint venture established for the purpose of providing development services in accordance with IFRS 11, which is accounted for using the equity method. In the fiscal year under review it had an average of 27 employees (prior year: 23 employees).

The Group’s share in Photono Oy decreased from 25% to 8.9% over the course of the 2024/25 fiscal year. The Group therefore no longer exerts any significant influence on Photono Oy’s financial and business policy decisions. Accordingly, Photono Oy is reported and measured as other investments and no longer as an investment accounted for using the equity method.

The tables for the combined balance sheet and statement of comprehensive income contain financial information on investments accounted for using the equity method on a 100% basis.