Leica Reports 60% rise in sales
Leica has reported a 60% rise in sales and and a six-fold increase in earnings before income taxes, and declared a dividend.
If only Leica could build more product (Leica lenses are perennially out of stock).
Why am I reporting on this?
Because it’s important to have Leica profitable and thus in the game, and thus able to afford R&D for future products. Photography without Leica in a world dominated by large conglomerates would be oh so boring.
Annual General Meeting of Leica Camera AG approves dividend / year concludes with record sales / Board of Management reaffirms results forecast.
On August 12, 2011 in the Wetzlarer Rittal-Arena, the Annual General Meeting of Shareholders (AGM) of Leica Camera AG, Solms resolved to distribute a dividend for the first time since 1997. The dividend will be €0.30 per share. The AGM thus approved the proposal made by Leica Camera's Board of Management and Supervisory Board.
The AGM rounded off a successful 2010/2011 fiscal year (April 1, 2010 to March 31, 2011) for Leica. The members of the Board of Management received a 99 percent vote approving their actions. The auditors BDO Deutsche Warentreuhand were once again appointed to perform the audit both of the AG and of the Group as a whole. The AGM also confirmed the Supervisory Board membership of Patrick Thomas, a director of Hermès International SCA, and appointed businessman Christian Raoul Skrein-Bumballa to the Supervisory Board.
Leica, a company with a long history based in the German state of Hesse, concluded a hugely successful 2010/2011 with record sales of €248.8 million, a rise of almost 60 per cent. The operating result or EBIT rose to €41.5 million, almost six times the previous year's figure, while at €36.3 million the consolidated net income was more than 11 times greater than last year. The main sales drivers were the Leica M9 rangefinder system and the Leica S2 professional camera system, with the compact cameras hard on their heels. The ever larger network of Leica stores and boutiques has also made a significant contribution to the company's success. "The Leica brand benefits from its greater worldwide visibility, with the Leica mystique reaching ever more actual and potential customers" notes Dr. Andreas Kaufmann, Leica Camera AG Supervisory Board chairman.
