RODENSTOCK announces continued solid financial performance
- By Editorial Team
Rodenstock Group has announced its results for the financial year 2023. The group increased consolidated pro-forma net sales to 506.1 million euros, driven by continued strong sales growth of its B.I.G. VISION® product portfolio of biometric progressive lenses and the successful launch of MyCon® lenses for children.
Overall, fiscal year 2023 was shaped by a challenging macro environment considering ongoing geopolitical risks with tensions in the Middle East as well as continued inflation, adding to economic volatility. Despite those headwinds, Rodenstock Group generated recurring EBITDA of 122.3 million euros in 2023, up 0.3% compared to the previous year on a pro forma basis.
The Group’s performance was driven by its stringent pursuit of Rodenstock’s B.I.G. VISION® strategy, which built the framework for the company’s transformation into a leading Med-Tech company and leading the paradigm shift in individual lenses, the company states. The strong debut of MyCon® lenses in the European market marks a further successful product innovation. The lenses for children are designed to correct short-sightedness, ensure sharp vision, and counteract the progression of myopia.
Rodenstock solidified the expertise in lenses innovation with strong 8% sales growth of the B.I.G. VISION® product portfolio of biometric progressive lenses, constituting a continuous driver of financial performance.
Marcus Desimoni, CEO of the Rodenstock Group, said in a statement: “2023 was another good year for Rodenstock and brought about significant milestones. With the strong performance of our B.I.G. VISION® product portfolio and strategic launches such as MyCon® lenses we laid the groundwork for further innovation and global expansion in the future – always with a focus on customer benefits. This can be largely attributed to the commitment and dedication of our entire team”.
Dr. Mani Herold, CFO of the Rodenstock Group, added: “Our 2023 performance underscores our continued path as pure Med-Tech company with a global footprint. We implement our strategic decisions rigorously to drive operational efficiency for long term, sustainable growth and strong financial performance”.
