Leica Camera AG announced their best quarterly and nine months results since its IPO in 1996. Products younger than two years account for 67 % of the total sales in the current fiscal year. The reported sales showed a 73.2% increase compared to the same period from previous year. The number of Leica employees increased from 1,062 to 1,112.
In an interview with AP, Leica's CEO Alfred Schopf said that staff have worked "voluntary overtime" and promised to improve the delivery time of cameras.
Full press release:
Leica Camera AG’s third-quarter figures and nine-months results in fiscal year 2010/2011 show the best sales since the Company’s IPO in 1996
Leica Camera Group closed the third quarter of the current 2010/2011 fiscal year with sales of € 75,532 thousand (previous year: € 48,102 thousand). Sales of the current fiscal year until third-quarter end (April 1 until December 31, 2010) amount to € 186,378 thousand (previous year: € 107,610 thousand). This corresponds to a 73.2 % increase as compared to the same period in the previous fiscal year. The Company thus registered the best quarterly and nine-months results since its IPO in 1996.
This confirms the course for innovation and growth followed by Leica Camera AG since its successful turnaround – products younger than two years account for 67 % of sales in the current fiscal year.
The increase in sales on the prior year is due to the continuing strong demand registered for all of the Company’s product categories – sales in the Photo product group more than doubled with the Leica M system, the professional S system and the digital Leica compact cameras. Sales in the Sport optics product group also exceed prior-year figures.
In the third quarter success drivers were, in particular, the products newly presented at the photokina in September 2010 – Leica D-Lux 5, V-Lux 2, the new black design variant of the Leica X1, the limited special series Leica M9 Titan, as well as the exclusive binoculars line, Leica Silverline.
In terms of regional range, the increase in sales saw contributions from all regions, with Europe and Asia registering especially strong increases exceeding 100 %. The operating result (EBIT) after the third quarter (€ 28,877 thousand) rose by € 29,160 thousand on the comparable period in the previous year (previous year: € –0,283 thousand). In the third quarter of the current fiscal year the Company posted EBIT of € 15,020 thousand
(previous year: € 6,896 thousand).
The improvement of results is primarily due to the growth in sales. As a result of the high demand cost of materials and personnel expenses are above the prior-year level. The number of employees in the Leica Camera Group increased from 1,062 in the previous fiscal year to 1,112 in the current fiscal year.
Total assets grew by € 36,926 thousand or 35.4 % on the third quarter of the previous fiscal. This is mainly due to the increase in liquid funds and inventories. The equity and liabilities side saw an increase due to the rise in equity on the basis of the improved earnings situation.
For fiscal year 2010/2011 the Company’s Board of Management expects sales to significantly exceed prior-year figures and have a corresponding effect on EBIT.
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10 Comments
Guess, most of it is down to special editions.
We pay you enough. Pay your workers OT. Enough with the voluntary BS.
They should thank me for purchasing their X1!
You should pay your repair people some overtime so maybe it’ll take less than 3 months to get my lens back from repair.
They’ve made a lot of cash from the Panaleicas.
They’ve made a lot of cash from the special (oh boy) editions. I’m glad they’re making money, for now. I’d really like to see the number breakdowns for new orders and old for M lenses, for the S system, and for the M9 bodies broken down month by month.
Too, what is the percentage of sport-optics increase and it’s affects on the figures. I also would like to see the sales figures for the USA.
Goodness forbid they make money out of new products! that’s like saying I wonder what Apple’s earnings would have been like without the iPad or the new iPhone . . .
Oi!!! David!!
Where did I say there was anything the matter with them making money? The fact is, the ‘Panaleicas’ are not their designs. They are counting on those cameras for a big portion of sales, that’s good. I see Leica as a glass half full, not half empty.
Get a grip, Collectable cameras are not generally bought by users, but they bring in money. But they can’t count on that forever, I’d like to see breakdowns, what’s the matter with that? I also sell and use Leica Sport Optics and breakdowns are not generally given out to us either.
I wonder how much money they made off repairs over the last few years. I’ve spent thousands having things “repaired” multiple times by Leica. People send in their whole kit to “calibrate” to their M digital before being able to use them properly… Just insane in my book. Wish I didn’t love using their products. Alas, I love M cameras… Best shut up about it…
I’ve send in my M9 for calibration once, it took about 10 days and it was free . . . at least that was my experience . . . I also had my M6 calibrated but that was at my local repair shop (in Los Angeles) and he did an excellent job for about $100.
Not sure how much special editions came into play. The M9 Titanium Edition didn’t contribute to these earnings since this report is for the three quarters ending Dec 31, 2010. The M9 Titan didn’t start shipping until Jan 2011.