Siemens Healthineers Posts Higher 1Q Earnings, Revenue; Raises 2021 Outlook
January 27 2021 - 01:43AM
Dow Jones News
By Cecilia Butini
Siemens Healthineers AG said late Tuesday that earnings and
revenue rose for the first quarter and that it has raised its
outlook for financial year 2021.
The German medical-equipment maker posted adjusted earnings
before interest and taxes of 738 million euros ($897.5 million) for
the period, up from EUR487 million a year earlier. Margin on
adjusted EBIT was 19.1% for the quarter, compared with a 13.6%
margin a year earlier it said.
Revenue came in at EUR3.87 billion, 13.3% higher than the
previous year, when it was EUR3.59 billion, Siemens Healthineers
said.
Adjusted basic earnings per share were EUR0.49, up from EUR0.36
the previous year, it added.
Siemens Healthineers raised its 2021 outlook. It now guides for
8%-12% comparable revenue growth, having previously guided for a
5%-8% range. The expected adjusted basic earnings per share are now
in a range of EUR1.63-EUR1.82 per share, up from a previous range
of EUR1.58-EUR1.72 per share.
"The outlook was raised based on the ongoing pandemic-related
demands and a higher confidence in the normalization of the
underlying business," Siemens Healthineers said. It also said that
it assumes that a further normalization of demand for standard
procedures to pre-pandemic levels will take place.
Full earnings for the first quarter will be released on Feb. 1,
the company said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
January 27, 2021 01:28 ET (06:28 GMT)
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