Leica Camera Announces Record-Breaking Results for Fiscal Year 2023/24, Marking the Best Performance in Company History

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Nov 20, 2024, 08:54 ET

TEANECK, N.J., Nov. 20, 2024 /PRNewswire/ -- Leica Camera Group, the premium-segment manufacturer of optical products has achieved another record in revenue for the fiscal year 2023/2024, posting an impressive 14% increase to MEUR 554, up from MEUR 485 in the previous year. This marks the best fiscal performance in the company's nearly 100-year history, reflecting both sustained growth and the successful execution of its strategic objectives. The core product segment, Photography, continues to be the primary driver of Leica's success. Strong demand for innovative products, coupled with the ongoing expansion of Leica's global sales network, fueled this growth. The company also saw significant gains in the Mobile Imaging segment (smartphone).

Matthias Harsch, CEO of Leica Camera AG: 'Our products "Made in Germany" satisfy the market's growing demands for a premium and sustainable premium brand experience. In the current fiscal year, we will continue to pursue innovative approaches that enable us to further strengthen the Leica brand and address new target groups. Alongside the rapidly growing Home Cinema segment based on highly innovative laser and imaging technologies, we have also launched our new Leica LUX app for professional mobile photography with the iPhone. This app expands our digital ecosystem and opens up an important business sector in the mobile segment that smooths the path for entering the world of the Leica experience.'

The Leica Camera Group saw robust revenue growth in all regions. The most significant growth was in Asia, where revenue grew by 25%, followed by Europe (excluding Germany) which saw growth of over 10%. Leica continues its global expansion with the opening of Leica Stores in Paris, Mexico City, Amsterdam and New York and four further locations in Germany – including Heidelberg and stores in Hamburg, Berlin and Munich through the takeover of an established photographic dealer – the past fiscal year has seen a further strengthening of the concern's position in strategically important markets. Today, Leica has an overall global network of 120 monobrand stores, including 12 in Germany.

Key products driving Leica success this year include the Leica Q3, a compact full-frame camera known for its exceptional performance, and premium design. The Leica M11-P, the world's first camera with 'Content Credentials' which guarantees the authenticity of digital images. Another addition to the Leica M-System, which has fascinated and delighted photographers around the globe with iconic products for 70 years, was the Leica M11 Monochrom (with a black-and-white camera sensor).

The Leica Camera Group continues to expand into new business areas. The acquisition of Fjorden Electra AS, Norwegian developer of smartphone apps and accessories, and the joint development of the Leica LUX photo app further strengthen the Mobile Business segment. Together with the Xiaomi partnership and the current Xiaomi 15 Series featuring Leica optics, the photo app further strengthens Leica's position in the mobile imaging space.

In 2025, Leica will celebrate the 100th anniversary of the Leica I, the world's first mass-produced 35mm camera, which revolutionized photography when it was introduced in 1925. To mark this historic milestone, Leica will host a series of events that celebrate the art of photography, including special activations at its 30 Leica Galleries worldwide and at its headquarters in Wetzlar. In the United States, multiple activations will take place, with highlights in New York, engaging photography enthusiasts and commemorating this iconic achievement.

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SOURCE Leica Camera USA