Leica Camera AG with record sales for 2011, intends to pay dividends

Leica Camera AG announced record sales for the fiscal year 2011: EUR 248.9 million (compared to EUR 158.2 million for 2010) - this is an increase of more than 57%. The operating profit is EUR 42.4 million (compared to EUR 7.4 million for 2010). Net income rose to EUR 30.4 million (previous year: EUR 3.2 million). As a result of the positive financial results, Leica Camera plans to pay EUR 0.30 dividends per share (for the first time since 1997).

Full press release:

Solms, June 1, 2011

Leica closes fiscal year 2010/2011 with record sales and intends to pay dividend to shareholders

The Board of Management today finished preparation of the preliminary financial statements for fiscal year 2010/2011.

On Group basis Leica Camera AG was able to increase sales in the last fiscal year (April 1, 2010 to March 31, 2011) by 57.3 % to EUR 248.9 million (previous year: EUR 158.2 million). EBIT rose to EUR 42.4 million (previous year: EUR 7.4 million) and thus increased almost six-fold. Group net income was EUR 30.4 million (previous year: EUR 3.2 million). These figures evidence that the positive development seen in the third quarter was confirmed and consolidated also in the fourth quarter. Against the background of this development the Board of Management will propose to the Supervisory Board and the General Meeting that a dividend be declared for the first time since 1997. According to the proposition the Board of Management will recommend to the General Meeting to resolve upon a dividend payment in the amount of EUR 0.30 per share. The proposition thus provides for a distribution to shareholders in the total amount of about EUR 5.0 million.

The positive development is mainly due to the continuing strong demand for the Leica M system, the professional S system, the compact cameras and the Leica sport optics products. The financial statements will contain a detailed report on the business development of the last fiscal year, as well as the business prospects for the current fiscal year. The financial statements will be published after having been certified by the auditors and approved by the Supervisory Board. Until then all figures are preliminary and unaudited.

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  • NikoDoby

    The Leica M9, the camera that single-handedly saved Leica in my opinion.

    • I think you are right, the M9 generated also many new lens purchases. Not to mention the M9 Titanium which is just pure profit. Many people were critical of it, but I am sure it did very well on the botom line for Leica.

    • Just A Thought

      “The Leica M9, the camera that single-handedly saved Leica in my opinion.”

      That and maybe getting rid of the America (previously from Best Buy) who used to run the place??? Kudo’s to Leica Management and Employees – together they pulled off a turn around that will very likely be studied and modeled in future MBA pgms…. Can someone plse send their copy of Leica’s Financial Report to Nikon’s President…..

      • Can someone plse send their copy of Leica’s Financial Report to…

        Got to give credit where it’s due and Leica’s team did a great job but what actually happened was Leica saved themselves from the mess they created for themselves.

        While we’re talking about great business stories, let’s look at what Fuji did within the last year or so:

        * Instax – Brought instant film back to widespread use with a series of trendy cameras

        * X100 – Only camera of its kind. Overcomes a lot of the negativity people have towards EVFs that couldn’t be solved just by increasing the EVF resolution.

        * REAL 3D cameras, picture frames and world’s first 3D print service

        * Motion picture film – Last 3 Oscar winning movies all shot on Fuji film. REALA 500D is the fastest colour film in the market today.

        * FinePix XP30 – World’s first water, shock, dust and freeze proof model featuring built-in GPS functionality

        * Fuji ForgeGuard – World’s first full-colour anti-counterfeit label

        * Amulet – World’s highest resolution digital mammography machines

        Oh I give up… the list is endless:

        In comparison, all Leica did was prey on deep pocketed folk’s egos.

        • Just A Thought

          “In comparison, all Leica did was prey on deep pocketed folk’s egos.”

          No, Leica stayed focused on what makes them unique in a world full of digital cameras.

          The American had apparently tried to spread Leica into lower end markets – bring regular consumers into the Leica brand with low cost models and then have the possibility for them to upgrade to a future M models. The problem with that idea is that you first have to compete (and try to make a profit) against established brands at the high volume low end and the potent9ial of a Soccer Mom upgrading to the Leica M series does not exist….

          As for Fuji being first, might be good to remind oneself about Minolta – they were first out with a lot of technology including AutoFocus SLR lenses. Being first does not mean that you will be around to finish the race. There’s an old tale about the Tortoise and the Hare….

          • No, Leica stayed focused on what makes them unique in a world full of digital cameras.

            Leica cameras are far less than what they say they are (pricing). M9’s sensor has fundamental IQ issues that’s there in every single M9 out there. Then a lot of people got M9s that had QC issues. Leica’s recent 21 and 24 Summilux-M models produce garbage images even at f/11. The S2’s APO lenses show CA.

            So when there are better quality cameras out there, who pays extra to buy a Leica? If it’s all about milking money from the rich then why not just start a chain of upmarket brothels? 😀

            As for Fuji being first, might be good to remind oneself about Minolta – they were first out with a lot of technology including AutoFocus SLR lenses.

            I think you’re missing two points:

            1. The listed Fuji innovations are from within the past year or so. They’re a living company and they are pioneers of those things they did, profits aside. That’s a good thing IMO.

            2. Minolta’s demise had nothing to do with them being first with AF SLR lenses… unless I missed something?

        • JR

          Damn, I think I’ll go out and sell my DMR, M9, and some lenses and go pick up an Intax and some anti-counterfeiting labels!

  • Uwe

    I know it is not a fair comment but:
    There must be something that Leica can sell somewhere on earth.
    Not sure where it is, definitely not with the dealers I am looking at.

    Greetings from Denver

    • I agree, they came form being almost bankrupt to a making profit and paying dividends. This is a good sign for the future. Can’t wait to see what the M10 will be like 🙂

  • jorge

    definetely the M9 is the star of the show, plus new strategies, etc. but, there’s a couple of things i do wonder about. selling more lenses? i agree, will they plan to actually increase production a little bit next year. i’ve been trying to get a 50 summi and a 35 cron both in silver for about a year and nothing. and last, could this hype about the M9 (which i love and own) bring as a consequence a little revival of the film M? i’d like to see those numbers. i love shooting film, almost as much as i love my M9. but, the day the film M’s turn in negative numbers they’ll be pulled out of the production line.

    • I have the M6 as well as the M9, but truth be told haven’t shot with the M6 in a long, long time. The M9 just makes it much easier than the M6 in terms of having to shoot a whole roll before you can process your images, scanning, etc. And with Silver FX Pro filters, digital files are capable approaching the look and feel of film closer and closer each day. The only big difference that is significant to me remains to be the dynamic range of film. Quite frankly the only reason I can justify shooting film these days is medium or large format so that I can drum scan the image to comfortably make wall-sized posters. But then again, how often does that need to happen??

  • only if i were a rich man

  • Nobody Special

    Leica has made the push to profitability with the M9 because it’s the only FF digital rangefinder – they have no competition, and there was a lot of pent-up demand. The platform is at a point where Leica will have to tread lightly on it’s outward physical and focusing changes.

    The lenses will always sell, but I wonder how long the M9 can keep propping up the brand. It’s THE product for them and while the S is selling it will be interesting to see what proportion it’s contributing, and how much it will continue too with it’s $20K uber priced body. How much of a need will there be in the future for a sensor that is bigger than 35mm FF digital when the tech image quality is improving so much. The sport optics have always been relatively stable for them.

    I’m sure they are happy and I’m sure they are trying to come up with a can’t miss move towards a camera that keeps the momentum going long-term and step into the future without hurting the M rangefinder and without an alienating S price. Not an easy task.

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