Leica Camera AG Q1 financial results for 2011/2012 fiscal year are out

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.

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