Leica Camera announced that its 2023/2024 fiscal year saw it achieve the highest revenue in the entire history of the company. It saw 14% growth to 554 million euros over last year’s already spectacular 485 million euros.
Last winter, Leica announced that it had set a sales record for the 2022/23 financial year and it has shattered that achievement now in 2024. The company says it was able to build on its successful business and sustain the growth of its earnings. The biggest driver of the company’s success remains unchanged: cameras. While Leica has bolstered its business with its Mobile Imaging segment (smartphone technology and partnerships), the core of its business remains stand-alone cameras and the support of photography.
Specifically, Leica says that the most potent revenue driver this year was the Leica Q3. However, it did not elaborate on sales numbers for this camera.
2024 is the best fiscal year so far in the almost 100-year history of the company and Leica says that this result confirms its “strategic alignment” of the Leica Camera Group as it continues to foster its core business as well as expansions into other markets.
“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,” Matthias Harsch, CEO of Leica Camera AG, says.
Leica acquired Fjorden in December 2023 but only announced the integration of the teams into its business last June. That team is responsible for the development and continued support of the LUX app.
“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,” Harsch adds.
Leica’s success is global. It saw the most significant growth in the Asia region with a 25% increase in revenue while Europe (not counting Germany) saw growth of over 10%.
“With the opening of Leica Stores in the major cities 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 brand’s position in strategically important markets. Today, Leica has an overall global network of 120 stores, 12 of which are located in Germany,” the company says.
Image credits: Leica
