Leica holds its ground
Against the background of compact camera sales figures on the world market
dropping by more than 20 % Leica Camera AG was able to hold its ground in the
first quarter of fiscal year 2012/2013. The first quarter of the current fiscal
year closed with sales of € 71.7 million (corresponding period last year: € 72.3
million). This corresponds to a slight decrease of 0.8 % as compared to the same
period of the previous year. The operating result (EBIT) after the first quarter
amounts to € 15.3 million (corresponding period last year: € 16.5 million). The
EBIT margin decreased thus by 1.4 % to 21.4 %.
As a result of new product launches as well as the opening of sales offices (among others in Tokyo, Washington, D.C and Shenzen, China) and the establishment of an own distribution organisation in Italy total assets rose to € 205.3 million (corresponding period previous year: € 163.4 million).
Due to a large number of new products, among them the Leica M Monochrom launched in May 2012, Leica X2 and Leica V-Lux 40 as well as the APO-Summicron-M 1:2 50mm ASPH., the order intake has surpassed the Company’s expectations and has led to a high utilisation of production capacity. This positive development resulted in higher material costs in the first quarter of the fiscal year, whereas delivery of the majority of products will be effected in the second quarter. As a result of the order situation personnel expenses have increased as well. The number of employees has increased to 1,257 as of June 30, 2012 (1,152 as of June 30, 2011).
The Company was already able to record sales increases in the first quarter for the strongly requested M lenses and the new Leica X2. In a highly competitive market the sales of the Sport optics division are 1.3 % above the previous year’s period. This is mainly due to the new Magnus riflescopes.
Regionally Leica Camera AG was able to increase sales by more than 5 % in the USA and Asia as compared to last year’s period, whereas in Europe a slight decline of sales had to be recorded.
During the course of the current fiscal year, particularly after the start of delivery of the products high in demand, the Board of Management expects a sales increase as compared to the previous year as well as positive consequences for the operating result.
Solms, August 17, 2012
The Board of Management
Alfred Schopf, Ruud Peters, Markus Limberger
As a result of new product launches as well as the opening of sales offices (among others in Tokyo, Washington, D.C and Shenzen, China) and the establishment of an own distribution organisation in Italy total assets rose to € 205.3 million (corresponding period previous year: € 163.4 million).
Due to a large number of new products, among them the Leica M Monochrom launched in May 2012, Leica X2 and Leica V-Lux 40 as well as the APO-Summicron-M 1:2 50mm ASPH., the order intake has surpassed the Company’s expectations and has led to a high utilisation of production capacity. This positive development resulted in higher material costs in the first quarter of the fiscal year, whereas delivery of the majority of products will be effected in the second quarter. As a result of the order situation personnel expenses have increased as well. The number of employees has increased to 1,257 as of June 30, 2012 (1,152 as of June 30, 2011).
The Company was already able to record sales increases in the first quarter for the strongly requested M lenses and the new Leica X2. In a highly competitive market the sales of the Sport optics division are 1.3 % above the previous year’s period. This is mainly due to the new Magnus riflescopes.
Regionally Leica Camera AG was able to increase sales by more than 5 % in the USA and Asia as compared to last year’s period, whereas in Europe a slight decline of sales had to be recorded.
During the course of the current fiscal year, particularly after the start of delivery of the products high in demand, the Board of Management expects a sales increase as compared to the previous year as well as positive consequences for the operating result.
Solms, August 17, 2012
The Board of Management
Alfred Schopf, Ruud Peters, Markus Limberger
Looks like a healthy company to me. It will be interesting to see how the new products that will be introduced at Photokina will be received.
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