Logotype for Carl Zeiss Meditec AG

Carl Zeiss Meditec (AFX) investor relations material

Carl Zeiss Meditec Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Carl Zeiss Meditec AG
Q4 2025 earnings summary11 Dec, 2025

Executive summary

  • Fiscal year 2024-2025 delivered solid revenue growth of 7.8% year-over-year to EUR 2.23 billion, with strong order entry up 18.2% year-over-year and a robust order backlog of EUR 380 million.

  • EBITDA/EBITA increased 3.5% to EUR 258 million, with margin at 11.6%, despite headwinds from U.S. tariffs, negative FX effects, and the absence of a prior year one-off gain.

  • Recurring revenue reached a record 50% of total revenue, driven by consumables and service.

  • Leadership transition underway with the CEO stepping down; interim CEO appointed and strategic continuity emphasized.

  • Strategic realignment underway to improve customer centricity, focus, and operational efficiency.

Financial highlights

  • Order entry: EUR 2.29 billion (+18.2% year-over-year); order backlog at EUR 380 million (+16% year-over-year).

  • Revenue: EUR 2.23 billion (+7.8% year-over-year; +8.6% FX adjusted).

  • EBITDA/EBITA: EUR 258 million (+3.5% year-over-year); margin 11.6% (adjusted margin up from 11.2%).

  • Gross profit: EUR 1.175 billion; margin 52.8%, stable year-over-year.

  • EPS: EUR 1.61 (adjusted EUR 1.90), down 3.9% year-over-year due to negative currency hedging and lower interest income.

  • Operating cash flow: EUR 210 million, slightly below last year due to higher working capital and interest payments.

  • Net financial debt: EUR 277 million, below prior year.

Outlook and guidance

  • Fiscal 2025-2026: Organic revenue expected to grow mid-single digits to ~EUR 2.3 billion; EBITDA/EBITA margin targeted at ~12.5%.

  • Midterm (3-5 years): Organic revenue CAGR mid to high single digits; EBITDA/EBITA margin ambition 16%-20%.

  • Guidance excludes potential non-recurring effects from geopolitical, regulatory, or restructuring events.

Detail non-recurring EBITA impacts for FY25/26
How will CCO address commercialization issues?
When will KINEVO 900 S improve Microsurgery margin?
Key products for China localization efforts
Path to 16-20% midterm EBITDA margin
Impact of R&D reprioritization on growth
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Carl Zeiss Meditec earnings date

Logotype for Carl Zeiss Meditec AG
Q1 202612 Feb, 2026
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Carl Zeiss Meditec earnings date

Logotype for Carl Zeiss Meditec AG
Q1 202612 Feb, 2026

The essential earnings season companion

The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

The Carl Zeiss Meditec AG is a microelectronics and medical technology company that operates on a global level. An international array of locations for the production and development of products enables the company to cater to customers from various parts of the world. The company's reputation for research and development capabilities has made it a leader in the technology, design, and manufacturing of instruments and systems for ophthalmic surgery. The company was founded in 1846 and is headquartered in Jena, Germany.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage