Siemens Healthineers Backs Outlook After Surge in Net Profit

By Helena Smolak

Siemens Healthineers posted a sharp increase in net profit for its second quarter on lower expenses and backed its full-year outlook.

The German healthcare company said Tuesday that it made a net profit of 426 million euros ($458.7 million) for the quarter ended March 31, significantly up from EUR105 million in the same quarter a year earlier, when its result was hit by one-off expenses.

Revenue rose to EUR5.435 billion from EUR5.35 billion, with growth in its imaging, diagnostics and advanced therapies offsetting a decline in its Varian radiation-oncology business.

Adjusted earnings before interest and taxes rose to EUR822 million from EUR764 million, while the margin expanded to 15.1% from 14.3%.

Analysts had expected Siemens Healthineers to report a net profit of EUR468 million, adjusted EBIT of EUR838 million and revenue of EUR5.475 billion, according to consensus estimates provided by Vara Research.

The company reiterated its guidance for the year ending in September.

Write to Helena Smolak at helena.smolak@wsj.com -0-

(END) Dow Jones Newswires

May 07, 2024 01:28 ET (05:28 GMT)

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