Rodenstock announces solid business results
The Rodenstock Group, global innovation leader in vision care and manufacturer of high-quality biometric ophthalmic lenses, announced its results for the 2023 financial year in mid-May. Driven by continued strong sales growth of the B.I.G. VISION® product portfolio for biometric ophthalmic lenses and the very successful market launch of MyCon lenses for children, Rodenstock increased consolidated pro forma net sales to EUR 506.1 million (2022: EUR 505.3 million on a pro forma basis).
Overall, the 2023 financial year was characterized by a challenging macroeconomic environment in which ongoing geopolitical risks with tensions in the Middle East and persistent inflation increased economic volatility. Despite these conditions, Rodenstock was able to generate EBITDA of EUR 122.3 million in 2023, an increase of 0.3% compared to the previous year on a pro forma basis.
Rodenstock's results were driven by the consistent pursuit of the B.I.G. VISION® strategy, which forms the framework for the company's transformation into a leading med-tech company and the paradigm shift in individual ophthalmic lenses. With the strong debut of MyCon lenses on the fast-growing European market, Rodenstock introduced another successful product innovation. The new lenses for children were developed to correct short-sightedness, ensure sharp vision and counteract the progression of myopia. Demand has been growing steadily since the market launch. Strong 8% sales growth of the B.I.G. VISION® biometric lens product portfolio consolidated Rodenstock's leading position in ophthalmic lenses, a continued driver of business results.
Marcus Desimoni, CEO of the Rodenstock Group, says: "2023 was another good year for Rodenstock with significant milestones. With the strong performance of our B.I.G. VISION® portfolio and strategic launches such as MyCon® lenses, we have laid the foundation for further innovation and global expansion in the future - always with a focus on customer value. This is due not least to the commitment and dedication of our entire team."
Dr. Mani Herold, CFO of the Rodenstock Group, adds: "The 2023 results confirm our stringent path as a pure med-tech company with a global presence. We are consistently implementing our strategic decisions to increase operational efficiency for long-term, sustainable growth and strong financial performance."
