Siemens Healthineers Reports Strong Net Profit for Q3
Siemens Healthineers, the German medical-equipment maker, announced a significant increase in net profit for its fiscal third quarter. The company attributes this rise primarily to lower taxes. Net profit for the quarter ended June 30 reached 445 million euros ($488.8 million), compared to 363 million euros in the same period last year.
Despite challenges posed by weaker demand for Covid-19 antigen tests, Siemens Healthineers maintained steady revenue growth. Revenue for the quarter totaled 5.20 billion euros, slightly up from 5.19 billion euros. While diagnostics sales declined, the imaging and advanced therapies segments experienced broad growth. Excluding rapid Covid-19 antigen tests, the company's revenue grew 3.6%, and overall revenue increased by 10%.
Adjusted earnings before interest and taxes saw a slight decline from 765 million euros to 740 million euros. The company noted that this decrease was primarily due to the reduced contribution from Covid-19 test sales. Consequently, the margin shrank from 14.7% to 14.2%.
Siemens Healthineers is confident in its outlook for fiscal 2023, reaffirming its expectations for comparable revenue growth. The company anticipates a range of a 1% decrease to a 1% increase, along with adjusted earnings per share between 2.00 euros and 2.20 euros.
All Rights Reserved © 2024
Post a comment