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Gus Iversen, Editor in Chief | May 09, 2024
Siemens Healthineers at RSNA 2023
Siemens Healthineers reported a strong performance in the second quarter of fiscal year 2024, which ended on March 31, reaching approximately $5.86 billion and maintaining momentum to achieve its full-year financial targets.
The imaging segment generated revenue of just under $3.2 billion in the second quarter. The comparable growth of 2.6% over the prior-year quarter was driven in particular by growth in molecular imaging and MR.
Geographically, imaging achieved "very strong" comparable growth in the EMEA region, "strong" revenue growth in the Americas region and "moderate" growth in the Asia Pacific Japan region. "Due to temporarily delayed customer orders in preceding quarters, and against the backdrop of an outstanding prior-year quarter, revenue in the China region declined by a low double-digit percentage," the Erlangen, Germany-based company said.
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The imaging segment's adjusted EBIT (earnings before interest and taxes) margin of 20.2% was below the prior-year-quarter level due to a less favorable business mix year-on-year, negative currency effects as well as lower absolute profit conversion from below average revenue growth.
The diagnostics segment experienced a 3.7% revenue growth, or 4.1% excluding COVID-19 test revenues, with an improved adjusted EBIT margin of 4.1%, marking a clear advancement from the corresponding period last year.
"The Healthineers team has continued its successful growth trajectory, even relative to an excellent prior-year quarter," said CEO Bernd Montag. "After an overall strong first half of the year, we are once again well on our way to achieving our targets for the financial year."
Varian, the Siemens Healthineers radiotherapy subsidiary, posted $977 million in revenue, a 2.1% decline, following an exceptionally strong quarter last year with 27% growth. Nevertheless, there was a notable increase in its adjusted EBIT margin to 16.4%. The advanced therapies segment reported an impressive 8.0% revenue growth and maintained a steady adjusted EBIT margin of 16.2%.
Looking forward, Siemens Healthineers remains optimistic about its fiscal year 2024 outlook, anticipating comparable revenue growth between 4.5% and 6.5%, or 5.0% to 7.0% excluding COVID-19 test revenue. The company also expects adjusted basic earnings per share to range from €2.10 to €2.30.
