The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Graham Doyle - UBS Investment Bank, Research Division - Analyst
: Just one on, I suppose, sort of the outlook in the second half. If I do some sort of quick math, the Q2 in the first half was so strong that it looks
actually that consensus numbers imply an actual decline in EBIT in the second half. So if I sort of work through what China could do and I take a
sort of bearish view, it sort of implies to me that if the business ex China can grow mid- to high single digits, then actually you can get to sort of
where consensus is. So I suppose the question is, is there anything we should be aware of that would make that sort of level of growth for the ex
China business difficult to achieve? Or actually, is that fairly straightforward?
Question: Graham Doyle - UBS Investment Bank, Research Division - Analyst
: Sure. China is, look it's clearly an issue. But at some point, that will get resolved and whether or not it's resolved in time for this fiscal '22 or it takes
a little bit longer, it sounds like the business, certainly versus our expectations, it's performing quite well, and that should be broadly fine. But
perhaps actually, it's probably even performing stronger than you might have expected 6, 7 months ago. So where do you think you guys are in
terms of the sort of broader cycle? We saw Alcon report really strong numbers J&J. Do you think this is just a big, there's a big increase in market
growth overall and perhaps this is something we should see for the next 1, 2, 3 years?
Question: Daniel Wendorff - ODDO BHF Corporate & Markets, Research Division - Analyst
: Maybe a follow-on question on the Microsurgery margin. Is it possible to quantify what's the potential positive benefit from currency effects here
was on the margin? That would be my first question.
And the second one is on the trends you see in the U.S. for the different products group you're offering. Maybe you can talk a bit more about what
is going particularly well. What is rather a flat business? Any more color you can provide here would be much appreciated.
And then lastly, a clarification question, and apologies if I missed it, but what proportion of your sales do you generate in Russia?
Question: Daniel Wendorff - ODDO BHF Corporate & Markets, Research Division - Analyst
: Yes, that's correct because you mentioned that you have here the highest cost base in euro, so in the presentation. So from that, I concluded that
that would be...
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MAY 13, 2022 / 7:30AM, AFXG.DE - Q2 2022 Carl Zeiss Meditec AG Earnings Call
Question: Daniel Wendorff - ODDO BHF Corporate & Markets, Research Division - Analyst
: Correct. Yes.
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