Leica Camera AG released its interim financial report for first quarter of the 2011/2012 fiscal year. Sales are up 28.7% compared with previous year. Leica has also taken "measures designed to improve stock availability". Here is the full report:
Leica Camera Group maintained its growth during the first quarter of the new fiscal year. At EUR 72,313,000, sales were 28.7% up on the corresponding quarter of the previous fiscal year (EUR 56,176,000), while the consolidated net income for the period under review, influenced by such factors as a higher contribution margins, rose by EUR 1,403,000 to EUR10,829,000 (previous year EUR 9,426,000).
Due to the continuing strong demand the number of people employed by the Group rose to 1,152 (previous year 1,083).
For the 2011/2012 fiscal year the Board of Management anticipates further sales growth, pushing our EBIT well over the 20 million euro mark.
This sales growth over the past year is down to enduringly strong demand in all product categories, with sales 36% up in the Photography division, comprising products such as the Leica M-System, the professional S-System and Leica's D-Lux 5 and V-Lux 30 compact digital cameras. The successor model to the Leica V-Lux 20, launched in May 2011, has already sold over 10,000 units after just eight weeks on the market.
This sales growth applies to all regions, with Europe, Germany and Asia registering particularly strong rises of more than 30%. Even in the much more fiercely competitive sport optics segment sales rose by 20 % to 6.9 million euros.
In response to the continuing strong demand the Board of Management has approved a further package of measures designed to improve stock availability.
The operating result (EBIT) was EUR 4,430,000 or 36.7% up on the same period last year and now totals EUR 16,494,000. The balance sheet total has risen by EUR 34,549,000 to EUR 163,414,000, and funds, material inventories and accounts receivable have all increased proportionately with the rising sales. The rise on the liabilities side results from the increase in equity due to the improved results.
Related posts:
- Leica’s 1st quarter financial results (fiscal year 2010/2011)
- Leica Camera AG reports 28% sales increase in the first half of fiscal year 2011/12, sales and earnings forecast increased
- Leica with record sales in third quarter of fiscal year 2010/2011
- Leica finances (fiscal year 2008-2009)
- Leica Camera AG reports 8.5% sales increase for Q3 of 2011/12
4 Comments
Ultra expensive luxury brand makes record profits during debilitating world recession. There’s got to be some interesting correlations that can be made there.
The recession isn’t really worldwide, though we American and Europeans tend to think only our economy matters. Japan has been in a deflationary environment forever, but the rest of Asia have high GDPs, as is the near East and parts of South America. The majority of demand for luxury goods these days come from China.
Amazing how Leica keeps on outdated technology with such a success.
Must agree, you can’t take Leica cameras on par value – but if you’re strolling through forums and online galleries Leica shots are mostly the worst.
Nicest toys in the hands of many pseudo-shooters, what a pity.
I wouldn’t say the Leica shots are amongst the worst without further qualification. I would way that for the same money spent, that’s probably not an inaccurate statement. There are a LOT of bad pictures out there if you take everything into the “picture.” But I would further qualify that observation to the M8 and M9 users. If you look at the works of folks who are still shooting film, M6, M7, etc., I think the results are very different.