Leica Camera AG reports 28% sales increase in the first half of fiscal year 2011/12, sales and earnings forecast increased

Today Leica Camera AG announced increased sales in the first half of fiscal year 2011/12. Sales and earnings forecasts for the remaining of the years were raised:

Leica Camera AG, Solms, consistently pursues its course of innovation and growth in the first half of the current fiscal year 2011/2012. Following the record results in fiscal year 2010/2011, the Company in the first half of the current fiscal year has increased sales of cameras, lenses and accessories by 27.9 %, from € 110.8 million to € 141.7 million, as compared to the corresponding prior year period. At € 33.1 million the Group’s operating result (EBIT) is € 19.2 million higher than in the corresponding prior year period (€ 13.9 million).

Each product group accounts for approximately 50 % of the sales growth, with the Photo product group reporting a sales increase from € 87.7 million in the first half of fiscal year 2010/2011 to € 115.6 million, corresponding to a 31.8 % rise. In the Sport optics product group, sales rose from € 10.8 million in the first half of the last fiscal year to € 14.0 million, or by 29.5 %.

»The business of Leica Camera AG continues to develop very favorably, evidencing that Leica was on solid ground in resolving to focus on new, innovative products and to be present in the market with a comprehensive fully digital camera portfolio«, says Alfred Schopf, Chairman of the Board of Management of Leica Camera AG. »It continues to be our aim to comply with the high order inflow resulting from the strong demand and thereby to achieve full satisfaction of our customers all around the world. With more than 30 Page 2 of 2 Reprints free of charge – Please send voucher copy employees newly recruited in manufacturing and the expansion of production capacities, Leica is working at full speed to achieve improvements in delivery periods and reduce the high order backlog. In the process, it remains our axiom to retain the outstanding product quality customers expect from us.«

In the first half of fiscal year 2011/2012, the Company’s success drivers »Made in Germany« were the Leica M9 rangefinder camera, the S2 professional system, as well as the Leica X1 compact camera. The Leica compact camera models V-Lux 20, V-Lux 2 and D-Lux 5 also made essential contributions to the positive overall development. Further success drivers are the Rangemaster and Televid product lines in the Leica Sport optics product group.

Board of Management expects significant sales and profit increases

On the strength of this extremely favorable development, the Board of Management increases the sales and earnings forecast for the whole of the current fiscal year. »Hitherto we had expected for the Group a sales growth of 3 % to 5 % and EBIT of more than € 20 million for fiscal year 2011/2012«, said Andreas Lobejäger, the member of Leica Camera AG’s Board of Management responsible for finance. »The Board now expects sales in the current fiscal year to increase by at least 10 % on the prior fiscal year (€ 248.8 million). As to EBIT, we now expect an increase of around 20 % on the prior year figure (€ 41.5 million).«
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