Carl Zeiss Meditec AG Q4 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Scott Bardo - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : First of all, I'd just like to say to Dr. Monz, it's been a pleasure working with you over the many years. It's been a great ride and look forward to -- I wish you all the best and success in your new role, and welcome Dr. Weber. So first question, please. I just want to get a little bit of a feeling to some of the assumptions underpinning your 2022 outlook. I appreciate these are somewhat uncertain times. But perhaps you can talk a little bit to how you see the gross margin progressing next year and whether the EBIT margin contraction is all operating costs or whether you would anticipate some adverse mix into the prospective year. That would be helpful to understand. I guess what I'm trying to get to the bottom of is whether we see some normalization of laser refractory correction after a couple of very strong years. And the second question again relates to QUATERA, please. Perhaps from a technical perspective, unsurprisingly, your major competitor here, Alcon, is defending its position. They are suggesting that QUATERA uses older disruption technology ultrasound, straight tips rather than bent tips for the phaco emulsification, and that you do your intraocular sensing within the unit rather than close to the eye. So they are suggesting that this is a good product, but one that is not hugely disruptive. And so I would love to hear your counter arguments to those statements.

Question: Scott Bardo - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Yes. Thanks, Sebastian. So maybe 3 questions. So maybe first question, please. I just wanted to understand a little bit more the commercial strategy surrounding the QUATERA launch. I just wonder if you could talk a little bit about your cartridge volume or production capacities and considerations there and whether you have enough resource to meet anticipated demand and whether you also intend to broaden this into sort of custom pack offering with lots of different surgical consumables, which is a model that is adopted in the industry. Lastly, on this, I wonder if you could share some thoughts perhaps about the relevance and importance of having a complete portfolio of IOLs, particularly in some select markets for the higher-powered IOLs, whether this acts as any hindrance, if you like, to the initial market adoption in select markets. So that's the first question, please, on QUATERA. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 10, 2021 / NTS, AFXG.DE - Q4 2021 Carl Zeiss Meditec AG Earnings Call The second question, please, on Microsurgery. I wonder if you could just give us an update, please, as to where we are in the KINEVO, PENTERO replacement cycle. And whether there's any other topics you can discuss about the other launches here, TIVATO, EXTARO in other segments? And maybe last question, please, if you're keeping up with these notes. I wonder if you could just give us a sense of the end market in Asia for refractive correction. They have been very strong indeed. And are you seeing continued robust growth in that market? Or should the expectation be moderation here?