Olympus successful in Europe

Profit before taxes increased from Euro 11.8 million in 2001/02 to Euro 65.7 million.

The company was able to increase its business in its most important markets of Germany, France, Great Britain and Italy and recorded also pleasing results in the Czech Republic and Slovakia. The Olympus companies in the Nordic region improved their positive results, or – as in Norway – achieved the turnaround after a difficult fiscal year 2001/02.

Sales of the Consumer Products Division of Olympus Optical Co. (Europa) GmbH grew by 13.6 percent to Euro 617.1 million, mainly due to the company’s participation in the strong growth of digital camera sales in Europe. The negative trend for analog cameras in Western Europe was compensated by strong sales in the emerging markets such as Russia. Sales of digital voice recorders achieved a new all-time high at Olympus in Europe last year. The company also recorded growth in the Endoscope Division (plus 12.5 percent) to Euro 398.7 million and the Diagnostic Business with a new sales record of Euro 118 million (plus 13.1 percent). The Microscopy Division was able to nearly maintain its turnover with sales of Euro 81.9 million after Euro 83 million in the previous year in a difficult economic climate and a highly competitive market.

For the current fiscal year, Dr. Werner Teuffel, Chairman of the Board of Olympus Optical Co. (Europa) GmbH, expects further growth in sales and increased profitability at the same time.