Carl Zeiss Meditec (AFX) Investor Presentation summary

Market position and business overview

• Holds leading positions in ophthalmology (#2) and microsurgery (#1), with headquarters in Jena, Germany and around 5,730 employees worldwide.

• Listed on MDAX and TecDAX, with 59% of shares held by Carl Zeiss AG.

• Revenue for 2023/24 was €2,066.1 million, with an EBITA margin of 12.0% (adjusted for PPA and impairment).

• Ophthalmology accounts for 77% and microsurgery for 23% of total revenue.

• Strongest revenue generation from APAC (45.9%), followed by EMEA (28.3%) and Americas (25.8%).

Strategic drivers and market trends

• Benefiting from structural tailwinds: aging population, increasing cataract surgeries, rising myopia prevalence, and demand for premium vision quality.

• Digitalization and workflow efficiency are key trends, with growing access to healthcare in emerging markets.

• Premium intraocular lenses (IOLs) are projected to grow at 8% CAGR by unit, with revenue share expected to reach 53% by 2029.

• Myopia prevalence is expected to reach nearly half the global population by 2050, with high-income regions seeing accelerated trends.

Innovation and technology leadership

• Maintains a high R&D investment ratio (>16%), driving technology leadership and gold standards in optical technologies.

• Focuses on integrated workflow and outcome-driven solutions, connecting devices, data, and applications.

• Digital applications enhance patient engagement, workflow efficiency, and standardization of clinical practice.

• Largest R&D team for surgical visualization, leading in robotic and advanced video technology for microsurgery.