Siemens Healthineers Net Profit Rose on Lower Taxes

By Adria Calatayud

Siemens Healthineers's net profit for its fiscal third quarter rose mainly thanks to lower taxes.

The German medical-equipment maker said Wednesday that net profit for the quarter ended June 30 was 445 million euros ($488.8 million) compared with EUR363 million in the same period last year.

Revenue for the quarter increased EUR5.20 billion from EUR5.19 billion, with growth in the imaging and advanced therapies segments broadly offset by a drop in diagnostics sales due to weaker demand for Covid-19 antigen tests. On a comparable basis, the company's revenue grew 3.6% and was up 10% excluding rapid Covid-19 antigen tests, it said.

Adjusted earnings before interest and taxes fell to EUR740 million from EUR765 million, with a margin that shrunk to 14.2% from 14.7% due to the smaller contribution from Covid-19 test sales, the company said.

Siemens Healthineers confirmed its outlook for fiscal 2023, with comparable revenue growth expected to range from a 1% fall to a 1% rise and adjusted earnings per share of EUR2.00 to EUR2.20.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

August 02, 2023 01:24 ET (05:24 GMT)

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