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Annual Press Conference
Carl Zeiss AGStuttgart, 2 December 2010
Dr. Dieter Kurz President & CEO
Dr. Michael Kaschke
Member of the Executive Board
2 December 2010 2Carl Zeiss Group, 2010 Annual Press Conference
Turnaround Achieved Overview: Fiscal year 2009/10
2
*without Carl Zeiss Visionand before auditor's certificate
+0.8%
+EUR 490 million
+42%
+52%
Change
12,971 12,872Employees (Head count excl. trainees)
30 SEP 2010* 30 SEP 2009
423 -67EbIT (Earnings before Interest and Taxes)
2,981 2,101Sales revenues
3,213 2,111Incoming orders
FY 2009/10* FY 2008/09in EUR million
-0.7%
+EUR 80 million
+9%
+24%
Change from FY 2009/10 to FY
2007/08
+EUR 369 million 208 -161Net income +EUR 30 million
2 December 2010 3Carl Zeiss Group, 2010 Annual Press Conference 3
New Strength through Stability and Flexibility Positive fiscal year 2009/10
Record year for Carl Zeiss:• Strategic decision to overcome the crisis paying off
• High level of flexibility of the Carl Zeiss Group enables fast and extensive utilization of economic upturn
• New products developed during the crisis successfully placed on the market
• Processes and cost structures optimized
• Employees kept on board to be able to react quickly to market opportunities during the upswing
• Portfolio supplemented
33
2 December 2010 4Carl Zeiss Group, 2010 Annual Press Conference
Carl Zeiss Group EUR 2,981 million revenue in fiscal year 2009/10
Busi
ness
Gro
ups
Medical systems Microscopy Semiconductor Technology
Industrial Metrology
Consumer Optics/Optronics
Carl Zeiss Vision (Joint Venture**)
Sale
s re
venu
es in
E
UREUR 754m EUR 397m EUR 1,187m EUR 292m EUR 881m
Carl Zeiss AG
*Over previous year
EUR 312m
4
Mar
kets
+7%* +9%* +207%* -4%* +3%* +0.2%*
+10%* +14%* +279%* +28%* -21%*
Inco
min
g or
ders
Medical and Research Solutions
Industrial Solutions Lifestyle Products
** valued at equity in the 2009/10 financial statements of the Carl Zeiss Group.
2 December 2010 5Carl Zeiss Group, 2010 Annual Press Conference
Semiconductor Technology Group Sales revenue reaches record level
Employees (FTE)
Sales revenues in EUR million
5
*Over previous year 30 SEP 07
30 Sep 08
30 SEP 09
2,496 2,670 2,530
30 SEP 06
2,1992,551
30 SEP 10
+207%*
2005/06 2006/07 2007/08 2008/09
864
1,042 1,018
386
1,187
2009/10
2 December 2010 6Carl Zeiss Group, 2010 Annual Press Conference
Semiconductor Technology Group EUV lithography: ASML installs first system at chip manufacturer
6
EUV lithography is the next generation chip fabrication technology.
EUV technology enables a new generation of microchips with structures in the 20 nanometer range and below.
This results in very compact, powerful chips and a considerable reduction in fabrication costs.
Dutch manufacturer of chip exposure machines ASML, which is supplied with optical systems for EUV lithography exclusively by Carl Zeiss, installed the first EUV system at a leading chip manufacturer in December.
2 December 2010 7Carl Zeiss Group, 2010 Annual Press Conference
Medical Systems Group Pushing ahead on course of growth
Employees (FTE)
*Over previous year
The values deviate from the published figures of Carl Zeiss Meditec AG as a result of different consolidation models.
Sales revenues in EUR million
7
2,2742,467 2,759 2,785 2,878
+7%*
631 638 661 706754
30 SEP 07
30 SEP 08
30 SEP 09
30 SEP 06
30 SEP 10
2005/06 2006/07 2007/08 2008/09 2009/10
2 December 2010 8Carl Zeiss Group, 2010 Annual Press Conference
Medical Systems Group Integrated systems for optimal results
This business group is increasingly evolving into an integrated solutions provider and delivers a combination of products, applications and services.
Integrated diagnostic, treatment and surgical systems in ophthalmology are improving therapeutic success.
For example, the ZEISS toric solution offers optimally matched instruments and applications. Doctors can more efficiently perform cataract operations, even on patients with astigmatism.
The preparation time needed to measure the eyes and insert the toric lenses is considerably reduced. All required data is available in the OR at the push of a button.
82 December 2010 8Carl Zeiss Group, 2010 Annual Press Conference
2 December 2010 9Carl Zeiss Group, 2010 Annual Press Conference
Microscopy Group Expansion of instrument portfolio contributed to success
Employees (FTE)
Sales revenues in EUR million
9
*Over previous year 30 SEP 07
30 SEP 08
30 SEP 09
30 SEP 06
30 SEP 10
2005/06 2006/07 2007/08 2008/09 2009/10
1,5621,758 1,731 1,677 1,720
+9%*
340 323 339365
397
2 December 2010 9Carl Zeiss Group, 2010 Annual Press Conference
2 December 2010 10Carl Zeiss Group, 2010 Annual Press Conference
Microscopy Group New systems for research, and routine and industrial applications
Carl Zeiss has entered into a special collaboration between research and industry with Harvard University:
Carl Zeiss delivers microscope systems for a research lab. An employee of the company provides on-site support.
Harvard benefits from the latest technology and Carl Zeiss receives information from users, which is then integrated into system development.
1010
2 December 2010 11Carl Zeiss Group, 2010 Annual Press Conference
Industrial Metrology Group Upswing felt in second half of the year
Sales revenues in EUR million
Employees (FTE)
*Over previous year
11
30 SEP 07
30 SEP 08
30 SEP 09
30 SEP 06
30 SEP 10
2005/06 2006/07 2007/08 2008/09 2009/10
1,2861,509
1,803 1,749 1,765
-4%*
278316
374
304 292
2 December 2010 11Carl Zeiss Group, 2010 Annual Press Conference
2 December 2010 12Carl Zeiss Group, 2010 Annual Press Conference
Industrial Metrology Group Acquiring new market segments
Carl Zeiss constantly invests in research and development to enable it to bring products to market sooner and open up new customer and market segments: such as the plastics and medical technology industries.
With the METROTOM® computer tomograph and the O-INSPECT coordinate measuring machine, the business group offers solutions specially tailored to the demands of these industries.
12
2 December 2010 13Carl Zeiss Group, 2010 Annual Press Conference
Consumer Optics/Optronics Group Stable revenue trend
Sales revenues in EUR million
Employees (FTE)
*Over previous year
13
30 Sep 07
30 SEP 08
30 SEP 09
30 SEP 06
30 SEP 10
2005/06 2006/07 2007/08 2008/09 2009/10
1,2031,504 1,510 1,524 1,504
+3%*
234 245
309 304 312
2 December 2010 14Carl Zeiss Group, 2010 Annual Press Conference
Binoculars for the Most Demanding Users Reliability and best vision under all circumstances
Adventurer and travel photographer Jürgen Sedlmayer and his wife toured the Upper Mustang region of the Himalayas for six weeks.
With their three horses, they crossed rivers, avoided landslides and mastered other challenges.
The binoculars on the trip: Victory 10 x 32 T* FL from Carl Zeiss.
14
2 December 2010 15Carl Zeiss Group, 2010 Annual Press Conference
Employees (FTE)
**Over previous year
* Not consolidated in the financial statement of the Carl Zeiss Group
Sales revenues* in EUR million
15
Carl Zeiss Vision Joint Venture Positioning in international competition improved
30 SEP 07
30 SEP 08
30 SEP 09
30 SEP 06
30 SEP 10
2005/06 2006/07 2007/08 2008/09 2009/10
+0.2%**
845 844 892 879 881
10,626 10,293
12,83011,659 11,586
2 December 2010 15Carl Zeiss Group, 2010 Annual Press Conference
2 December 2010 16Carl Zeiss Group, 2010 Annual Press Conference
MyoVision First effective treatment for shortsighted children in Asia
Almost half of Asian children suffer from myopia, the term used to describe genetically induced shortsightedness that can deteriorate with age to the point of blindness.
With MyoVision™, Carl Zeiss Vision launched lenses specially developed for the Asian market in the summer of 2010.
These new lenses decisively slow the progression of the condition by an average of 30 percent in children between six and twelve years of age and therefore offer an effective aid for the treatment of myopia for the very first time.
16
2 December 2010 17Carl Zeiss Group, 2010 Annual Press Conference
Equity Ratio Reached 33 Percent Again Financial stability and economic independence
Equity ratio In % of the balance sheet total
17
30%
20%
10%
22
3033
2933
30 SEP 07 30 SEP 08 30 SEP 0930 SEP 06 30 SEP 100%
2 December 2010 18Carl Zeiss Group, 2010 Annual Press Conference
Gross cash flow* Restrengthend Cost management of past year bearing fruit
EUR million
*Determined following the recommendation of the German Financial Analysis Association/Schmalenbach- Gesellschaft
18
17% 21% 18% 4% 17%Share of revenues
2005/06 2006/07 2007/08 2008/09
410
549496
76
506
2009/10
2 December 2010 19Carl Zeiss Group, 2010 Annual Press Conference
Net Liquid Assets: EUR 884 million Solid foundation for the long-term growth strategy
19
Net liquid assetsin EUR million
275
612 615
478
884
30 SEP 06 30 SEP 07 30 SEP 08 30 SEP 09 30 SEP 10
2 December 2010 20Carl Zeiss Group, 2010 Annual Press Conference
Capital Expenditure and Depreciation of property, plant and equipment
EUR million
20
118
107
118
80
9699
114
9599
53
DepreciationInvestments
30 SEP 06 30 SEP 07 30 SEP 08 30 SEP 09 30 SEP 10
2 December 2010 21Carl Zeiss Group, 2010 Annual Press Conference
Investments in the Future Expenditures for research and development
During the reporting period, Carl Zeiss generated half its revenues with products that are less than three years old.
21
254290
321284 291
EUR million
10% 11% 12% 14% 10%Share of revenues
30 SEP 06 30 SEP 07 30 SEP 08 30 SEP 09 30 SEP 10
2 December 2010 22Carl Zeiss Group, 2010 Annual Press Conference 22
Outlook for Fiscal Year 2010/11 Integration Carl Zeiss Vision enhances international presence
22
More employees outside Germany for first timeConsiderably stronger presence of the ZEISS brand among end consumersSynergies in healthcare markets
Active in 30 countries
More than 40 production sites and 50 sales companies
Approx. 24,000 employees (13,000) outside Germany
2 December 2010 23Carl Zeiss Group, 2010 Annual Press Conference 23
Outlook for Fiscal Year 2010/11 Systematically utilize market opportunities
• Actively and systematically take advantage of growth opportunities in Asia
• Manage dynamism and volatility of the markets with flexible structures
• Drive integration of Carl Zeiss Vision as Vision Care business group
• Further strengthen the ZEISS brand in the global arena
23
2 December 2010 24Carl Zeiss Group, 2010 Annual Press Conference 24
Continuity and New Impulse Change to the Carl Zeiss AG Executive Board
Dr. Dieter KurzPresident & CEO(until 31 Dec 2010)
24
Dr. Michael KaschkePresident & CEO(from 1 Jan 2011)
Medical systems
Microscopy
Vision Care
Strategic Development
Communications
Human Resources
Asia/Australia
Dr. Hermann Gerlinger
Semiconductor Technology
Industrial Metrology
Production
Global Supply Chain
Research & Technology
Americas
Thomas Spitzenpfeil(CFO)
Consumer Optics/Optronics
Finance/Financial Controlling & Taxes
Business Process Excellence
Auditing & Risk Management
Legal and Patents
Financial Services
Financial Accounting Center
Business Services & Infrastructure
Europe/Africa
2 December 2010 25Carl Zeiss Group, 2010 Annual Press Conference