Leica has set a new revenue record for the fiscal year 2023/2024, reporting a 14% increase to €554 million (around $577 million / £460 million / AU$888 million), up from €485 million ($505 million / £402 million / AU$777 million) in the previous year.
The premium manufacturer of optical products continues its trajectory of success, building on its achievements from the previous fiscal year and sustaining growth in operating earnings.
The photography segment remains the primary driver of this growth, bolstered by an innovative product lineup and an expanded global sales network. Additionally, the Mobile Imaging segment, particularly in smartphones, saw remarkable revenue growth.
Matthias Harsch, CEO of Leica Camera AG, stated:
“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.”
Revenue increased in all regions during fiscal year 2023/2024, with Asia leading at 25% growth, followed by Europe (excluding Germany) at over 10%. Strategic market positions were further solidified through new Leica Stores in Paris, Mexico City, Amsterdam, and New York, along with four additional locations in Germany. These additions contribute to Leica’s global network of 120 monobrand stores, 12 of which are in Germany.
The Leica Q3 camera played a pivotal role in revenue growth, offering exceptional performance, intuitive handling, and premium craftsmanship. Innovations also included the Leica M11-P, the world’s first camera with “Content Credentials” to guarantee digital image authenticity, and the Leica M11 Monochrom, featuring a black-and-white camera sensor.
Leica is actively broadening its business horizons in fiscal year 2024/2025. The acquisition of Norwegian company Fjorden Electra AS, known for its smartphone apps and accessories, along with the development of the Leica LUX photo app, underscores the company’s focus on the Mobile Business segment. Partnerships, such as with Xiaomi and its latest Xiaomi 15 Series featuring Leica optics, are integral to this strategic expansion.
Leica Camera will commemorate the 100th anniversary of its iconic Leica I camera in 2025. First unveiled in 1925, this groundbreaking 35mm camera revolutionized photography. Leica plans a variety of events celebrating the photography arts at its Wetzlar headquarters and in its global network of 30 Leica Galleries across the globe to mark the occasion.
