Rodenstock delivers robust FY 2022 results
Rodenstock Group announced its results for the financial year 2022. Driven by continuously growing demand for its B.I.G. Vision product portfolio of biometric progressive lenses as well as the the successful launch of its new B.I.G. Norm lense range in 2022, the group increased consolidated pro-forma net sales to 505 million euros (previous year 486 million euros on a like-for-like basis).
Rodenstock’s B.I.G. Vision strategy remains at the core of the group’s ambition to lead the paradigm shift in individual lenses and continue its transformation to become a leading lenses Med-Tech company. With its patented DNEye technology, the company has further expanded its international business and its offering of individual biometric lenses in 2022.
The acquisition of Indo Optical, which closed in September 2022, and the sale of its eyewear business to De Rigo, which was announced in December 2022, enable Rodenstock to fully focus on commercial effectiveness, global expansion and further lenses innovations over the coming years. The legal transfer of the eyewear business to De Rigo is expected to be completed in the second quarter of 2023.
Overall, fiscal year 2022 was impacted by the deterioration of the macro-economic environment following the invasion of Ukraine by Russia, leading to further disruption of international supply chains, rising inflation levels as well as substantial uncertainty among businesses and consumers. Rodenstock took decisive action and exited the Russian market swiftly by transferring the ownership of its Russian business to local management. Despite a slow-down in sales growth in the second half of 2022, Rodenstock Group generated recurring EBITDA of 118 million euros in 2022 down -4% compared to previous year on a like-for like basis, considering the transfer of the Russian business during the year and the deconsolidation of the eyewear business.
Marcus Desimoni, CEO of the Rodenstock Group, says: “Despite substantial market headwinds, we have successfully continued to execute on our B.I.G. Vision strategy and expanded our global lenses business. I would like to thank the entire team for their hard work and commitment over the past year. Strategic milestones such as the acquisition of Indo Optical and the sale of the eyewear business have provided the basis for further profitable growth in the coming years.”
Marcus Desimoni took over the role as CEO of the Rodenstock Group in February 2023 having previously served as CFO of the company. On April 1st 2023, Dr. Mani Herold joined CFO of the Rodenstock Group, thus completing the Management Team. The leadership team will maintain the strategic direction of the group and will continue to invest into R&D as well as the group’s product and service portfolio as well as its state-of-the-art production facilities.
