29 Segment reporting
Pursuant to IFRS 8 Operating Segments, the Group defines its operating segments based on the information that is reported internally to the Management Board, which is also Chief Operating Decision Maker in terms of IFRS 8. The Carl Zeiss Meditec Group has two operating segments, which are simultaneously the Company’s Strategic Business Units. All business activities relating to ophthalmology, such as the business with medical laser and diagnostic systems and surgical solution systems for the treatment of cataract and retina diseases are allocated to the “Ophthalmology” SBU. The “Microsurgery” SBU encompasses the activities in neuro, spine, ear, nose and throat and dental surgery, as well as the activities in the field of intraoperative radiotherapy. For more information on the business activities of the SBUs please refer to the management report.
The Management Board regularly evaluates internal management reports for each of the strategic business units in relation to decisions on resource allocation and performance. In addition to publishing the results at segment level, any write-downs and additions to provisions are also published for each SBU.
|
|
Ophthalmology SBU |
|
Microsurgery SBU |
|
Total |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
2024/25 |
|
2023/24 |
|
2024/25 |
|
2023/24 |
|
2024/25 |
|
2023/24 |
|
|
€k |
|
€k |
|
€k |
|
€k |
|
€k |
|
€k |
External revenue |
|
1,723,707 |
|
1,589,172 |
|
503,938 |
|
476,955 |
|
2,227,645 |
|
2,066,127 |
Cost of sales |
|
-825,830 |
|
-786,965 |
|
-226,618 |
|
-190,532 |
|
-1,052,448 |
|
-977,497 |
Gross profit |
|
897,877 |
|
802,207 |
|
277,320 |
|
286,423 |
|
1,175,197 |
|
1,088,630 |
Selling and marketing expenses |
|
-375,948 |
|
-347,024 |
|
-119,150 |
|
-111,174 |
|
-495,098 |
|
-458,198 |
General and administrative expenses |
|
-107,895 |
|
-92,151 |
|
-23,526 |
|
-18,859 |
|
-131,421 |
|
-111,010 |
Research and development expenses |
|
-260,741 |
|
-280,723 |
|
-65,534 |
|
-62,366 |
|
-326,275 |
|
-343,089 |
Other operating result |
|
1,023 |
|
18,119 |
|
-106 |
|
0 |
|
917 |
|
18,119 |
Earnings before interest and taxes (EBIT) |
|
154,316 |
|
100,428 |
|
69,004 |
|
94,024 |
|
223,320 |
|
194,452 |
Plus amortization from purchase price allocations |
|
32,878 |
|
52,852 |
|
1,551 |
|
1,581 |
|
34,429 |
|
54,433 |
Earnings before interest, taxes and amortization from purchase price allocations (EBITA) |
|
187,194 |
|
153,280 |
|
70,555 |
|
95,605 |
|
257,749 |
|
248,885 |
Depreciation and amortization |
|
102,292 |
|
119,221 |
|
24,086 |
|
13,550 |
|
126,378 |
|
132,771 |
Additions to provisions |
|
18,624 |
|
19,917 |
|
6,225 |
|
4,255 |
|
24,849 |
|
24,172 |
Reconciliation of segments’ comprehensive income to the Group’s period-end result |
||||||||||||
Comprehensive income of the segments |
|
|
|
|
|
|
|
|
|
223,320 |
|
194,452 |
Earnings before interest and taxes (EBIT) |
|
|
|
|
|
|
|
|
|
223,320 |
|
194,452 |
Financial result |
|
|
|
|
|
|
|
|
|
-29,428 |
|
46,414 |
Earnings before income taxes (EBT) |
|
|
|
|
|
|
|
|
|
193,892 |
|
240,866 |
Income taxes |
|
|
|
|
|
|
|
|
|
-51,547 |
|
-60,712 |
Consolidated profit |
|
|
|
|
|
|
|
|
|
142,345 |
|
180,154 |
» of which profit/loss attributable to shareholders of the parent company |
|
|
|
|
|
|
|
|
|
141,210 |
|
178,726 |
» of which profit/loss attributable to non-controlling interests |
|
|
|
|
|
|
|
|
|
1,135 |
|
1,428 |
As a general rule there were no intersegment sales.
The information on geographical areas is based on the geographical regions of Germany, North America, Asia, Europe (excluding Germany) and Other, according to the location of the headquarters of the Group company generating the revenue or holding the non-current assets.
|
|
2024/25 |
|
2023/24 |
||||
|---|---|---|---|---|---|---|---|---|
|
|
Revenue |
|
Non-current assets |
|
Revenue |
|
Non-current |
|
|
€k |
|
€k |
|
€k |
|
€k |
Germany |
|
1,294,731 |
|
300,170 |
|
1,233,996 |
|
314,415 |
North America |
|
552,661 |
|
432,644 |
|
522,324 |
|
460,456 |
Asia |
|
86,073 |
|
26,793 |
|
83,333 |
|
31,034 |
Europe (excluding Germany) |
|
294,180 |
|
1,231,888 |
|
226,474 |
|
1,252,634 |
Other |
|
0 |
|
827 |
|
0 |
|
256 |
Total |
|
2,227,645 |
|
1,992,322 |
|
2,066,127 |
|
2,058,795 |
All but €107k of revenue in the North America region are attributable to the US. Segment assets comprise non-current assets less deferred tax assets of €82,261k (prior year: €86,320k), investments accounted for using the equity method of €20,321k (prior year: €11,767k), investments and other shares in non-consolidated affiliated companies of €8,611k (prior year: €8,611k), loans of €10,172, (prior year: €6,664k) and non-current trade receivables including receivables from finance leases of €9,386k (prior year: €8,560k).
Key customers
Carl Zeiss AG and its subsidiaries (except Carl Zeiss Meditec Group) constitute a key customer of the Carl Zeiss Meditec Group, accounting for a share of 51% (prior year: 54%) of total revenue. Revenue is generated with Carl Zeiss AG and its subsidiaries in both segments. The share of total revenue amounts to 40% (prior year: 38%) in the Microsurgery SBU and 54% (prior year: 58%) in the Ophthalmology SBU.