Siemens Healthineers Reports Profitable Growth in Q2 of Fiscal Year 2023/24 and Reaffirms Full-Year Outlook
The Erlangen-based company reported an 8 percent increase in adjusted operating income (EBIT) to 822 million euros, which however fell short of analysts' expectations of an EBIT of 838 million euros. The EBIT margin improved from 14.3 percent in the previous year to 15.1 percent but also fell below the forecasted margin of 15.3 percent.
Siemens Healthineers' revenue increased by 1.7 percent to 5.435 billion euros. Adjusted for currency effects and acquisitions, there was a growth of 3.0 percent. The company faced particular challenges in China; here, revenue fell by a low double-digit percentage due to the government's anti-corruption measures.
Net Profit Significantly Increased to 426 Million Euros, Compared to 105 Million Euros in the Previous Year. In the Same Quarter of the Previous Year, Expenses Amounting to 329 Million Euros Had a Negative Impact on the Result. These Were Associated with the Strategic Realignment of Endovascular Robotic Solutions, Which From Now On Will Be Exclusively Focused on Vascular Interventions in Neurology.
For the full year, Siemens Healthineers continues to expect organic sales growth of 4.5 to 6.5 percent and an adjusted earnings per share between 2.10 and 2.30 euros. Despite the current challenges in certain markets, the Executive Board remains optimistic about achieving these targets.
