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Good overall result and revenue growth for the zeiss group.

ZEISS Group revenue increased to just under 11 billion euros (10.894 billion euros), (up 8% on the prior year) – EBIT 1,444 million euros (prior year: 1,686 million euros, EBIT margin 13%). Mixed development in the segments. High spend on research and development equivalent to 15% of revenue, more than 46,000 employees worldwide.

• Increasingly challenging market environment for the direct-to-market segments
• Strong growth in the Semiconductor Manufacturing Technology segment
• Outlook requires reinforcement of resilience measures

Overall, ZEISS can look back on a very successful fiscal year 2023/24. The Group's revenue rose to 10.894 billion euros (prior year: 10.108 billion euros, up 8%). Earnings before interest and taxes (EBIT) of 1.444 billion euros totaled (prior year: 1.686 billion euros) with an EBIT margin of 13%. All four segments of the ZEISS Group contributed to this growth. The challenges posed by geopolitical tensions and the current weaker global economic situation have, however, intensified and impacted the segments to varying degrees.

"Overall, we ended fiscal year 2023/24 with a good result and revenue growth. At the same time, it was not possible for all areas to escape the impact of current developments on the global markets," said Dr. Karl Lamprecht, President and CEO of ZEISS. "Our success is based on our enormous innovative strength. To make sure it stays that way, we have spent a record 15% of revenue on research and development – and thus more than ever before – and also invested in the targeted expansion of personnel and infrastructure."

Segment development

* Not identical to the Carl Zeiss Meditec Group

The Semiconductor Manufacturing Technology (SMT) segment showed strong growth once again and recorded an 11% increase in incoming orders. The Semiconductor Manufacturing Technology segment remains on course for growth despite only sluggish recovery in the volatile semiconductor market. The SMT segment was able to decouple itself from the market thanks to special circumstances such as strong demand for semiconductor production equipment in China. Customer demand for lithography equipment for semiconductor production, particularly in the deep ultraviolet (DUV) sector, was sustained in fiscal year 2023/24. Increases in deliveries compared to the prior year and a new product launch contributed to the renewed high level of revenue. Extreme ultraviolet (EUV) lithography has enabled further miniaturization of microchips. In the past year, ZEISS Semiconductor Manufacturing Technology supplied its customer ASML with the latest EUV product generation or high NA EUV lithography for the first time. In order to meet growing customer demand and handle order backlogs, the SMT segment is expanding capacity at all its sites, but is doing so with caution in view of the uncertain global economic situation and the volatility of the semiconductor sector.

The Industrial Quality & Research segment achieved revenue growth, but the economic situation for this segment in fiscal year 2023/24 was more challenging than in the prior year. The Industrial Quality Solutions strategic business unit recorded a slight increase in incoming orders and revenue growth in the past fiscal year despite negative currency effects. The software business in particular developed positively. The Research Microscopy Solutions strategic business unit recorded an increase in revenue growth in the past fiscal year despite negative currency effects, albeit with a slight decline in incoming orders. The strategic business unit developed particularly well in the electron microscopy and software area. Further expansion of remote service offerings is one of the factors that has enabled the installed base, which has grown steadily in recent years, to be leveraged for profitable growth in the service business.

The Medical Technology segment also achieved robust revenue growth compared to the prior year. The Ophthalmology strategic business unit, which offers products and solutions for the diagnosis and treatment of eye diseases as well as systems and consumables primarily for cataract, retina and refractive surgery, recorded slight growth. The acquisition and first-time consolidation of DORC Topco B.V., Zuidland, Netherlands, and its subsidiaries have made a significant contribution to growth since April 2024. Reluctance to invest, particularly in North America, combined with high interest rates and health policy uncertainties, led to a decline in the equipment business, such as surgical microscopes. The Microsurgery strategic business unit, which offers virtualization solutions for minimally invasive surgical treatments, suffered from an increasing reluctance to invest, particularly in the North American market, partly due to high interest rates and increased funding costs.

The continued stable global growth in the optical market had a positive impact on the Consumer Markets segment. Despite a noticeable reluctance on the part of consumers to spend, the strategic Vision Care segment generated profitable growth with innovations for all age groups, expansion of the digital portfolio for eye care professionals and concepts for global challenges, such as increasing short-sightedness in children and young people. The reluctance to buy was further reflected in optics for hunting, sport and nature observation. Digital revenue, for example from game cameras for hunters, grew significantly. The share of digital services for production, visual effects and post-production also continued to increase in the cinematography business. ZEISS is an innovation driver for film productions and streaming services worldwide. The brand partnerships for mobile imaging and smartphone photography developed very positively.

Stefan Müller, Member of the Executive Board and CFO of the ZEISS Group

Key figures

As of the reporting date of 30 September 2024, the ZEISS Group's equity amounted to 8,190 million euros (prior year: 7,846 million euros). The equity ratio of 51% is mainly due to the increase in total assets (prior year: 52%).

In the Europe/Middle East/Africa (EMEA) region, ZEISS recorded a 3% increase in revenue in fiscal year 2023/24, with revenue in Germany falling slightly by 1%. Revenue in the Americas region was down 2% on the prior year, while the Asia/Pacific (APAC) region remained the main growth driver with an increase of 8%. Direct business with cross-regional cooperations increased by 16% in fiscal year 2023/24. This was mainly due to capacity expansions in the semiconductor sector, particularly in the area of EUV lithography.

“The ZEISS Group's broad portfolio ensures a pleasingly robust overall performance in a strained environment,” said Stefan Müller, member of the Executive Board and CFO of the ZEISS Group. “We are seeing a subdued consumer climate and reluctance to invest in some areas. That is why we are reinforcing our resilience with targeted measures."

Highly qualified and motivated employees are at the root of the long-term success of the ZEISS Group. The total number of ZEISS Group employees worldwide increased by 3,493 to 46,485 as of 30 September 2024 (prior year: 42,992). ZEISS has 22,524 (prior year: 20,067) employees at sites in Germany and 23,961 (prior year: 22,925) employees at sites outside Germany. The ZEISS Group encourages and fosters diversity as a prerequisite for innovation. Around 52% (prior year: 53%) of ZEISS employees work at international sites outside Germany; employees from over 90 nations work in Germany. Education and training are also a high priority at ZEISS. At the end of the reporting period, the ZEISS Group employed 822 vocational trainees and students in a cooperative study program in Germany (prior year: 690).

The innovative strength of the ZEISS Group will remain the central area in which the ZEISS Group continues to invest over and above the hiring of new staff. Expenditure on research and development amounted to 15% of the Group's revenue in fiscal year 2023/24. It is thus at the same high level as in previous years. The Group’s research and development departments have 6,951 employees (prior year: 6,252) or 15% of the workforce working on new solutions and technologies for the optics industry as well as digital business models. At the end of the reporting period, ZEISS held around 12,500 patents worldwide (prior year: approximately 11,300). In the reporting period, the company applied for new patents for approximately 740 inventions (prior year: approximately 670).

Dr. Karl Lamprecht, President and CEO of the ZEISS Group

“The business environment is becoming increasingly challenging. We are nevertheless creating the economic scope for strategically important investments through our broad and future-oriented portfolio,” concluded Lamprecht. “This also includes enhancing our innovative strength and transforming ourselves into a data- and process-driven organization. This will ensure we remain competitive. Overall, we therefore assess the ZEISS Group's business development for fiscal year 2023/24 as being moderately positive."

Head of Corporate Brand, Communications and Public Affairs ZEISS Group

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About ZEISS

ZEISS is an internationally leading technology enterprise operating in the fields of optics and optoelectronics. In the previous fiscal year, the ZEISS Group generated annual revenue around 11 billion euros in its four segments Semiconductor Manufacturing Technology, Industrial Quality & Research, Medical Technology and Consumer Markets (30 September 2024).

For its customers, ZEISS develops, produces and distributes highly innovative solutions for industrial metrology and quality assurance, microscopy solutions for the life sciences and materials research, and medical technology solutions for diagnostics and treatment in ophthalmology and microsurgery. The name ZEISS is also synonymous with the world's leading lithography optics, which are used by the chip industry to manufacture semiconductor components. There is global demand for trendsetting ZEISS brand products such as eyeglass lenses, camera lenses and binoculars.

With a portfolio aligned with future growth areas like digitalization, healthcare and Smart Production and a strong brand, ZEISS is shaping the future of technology and constantly advancing the world of optics and related fields with its solutions. The company's significant, sustainable investments in research and development lay the foundation for the success and continued expansion of ZEISS' technology and market leadership. ZEISS invests 15 percent of its revenue in research and development – this high level of expenditure has a long tradition at ZEISS and is also an investment in the future.

With over 46,000 employees, ZEISS is active globally in around 50 countries with more than 60 sales and service locations, around 40 research and development facilities, and 35 production facilities worldwide (30 September 2024). Founded in 1846 in Jena, the company is headquartered in Oberkochen, Germany. The Carl Zeiss Foundation, one of the largest foundations in Germany committed to the promotion of science, is the sole owner of the holding company, Carl Zeiss AG.

Further information at www.zeiss.com

Press photos

ZEISS projection optics for High-NA-EUV lithography blacklightcontrol

Black light control of the zeiss projection optics for the high-na-euv lithography. the heart of the lithography machine consists of more than 40,000 parts and weighs around twelve tons..

Dutch Ophthalmic Research Center (DORC)

The acquisition and consolidation of the acquired dorc and its subsidiaries in april 2024 contributed significantly to the growth of the medical technology segment. they will jointly advance the development of cutting-edge technology and the expansion strategy for medical devices and surgical solutions for ophthalmology..

Innovative Ansätze zur Eindämmung progressiver Myopie

For more than 15 years, zeiss vision care has been involved in the research, development and the practice of myopia management and has been working to offer effective and needs-based solutions..

Dr. Karl Lamprecht

President and ceo of the zeiss group.

Stefan Müller

Member of the executive board and cfo of the zeiss group, more information.

Executive Board and Supervisory Board Key financial figures Annual Report Archive

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Presentation for end-of-year press conference

Jörg Nitschke

Head of Corporate Brand and Communications ZEISS Group Phone: +49 7364 20-3242 joerg.nitschke@zeiss.com