SHL Siemens Healthineers AG

By Cecilia Butini

Siemens Healthineers said Wednesday that its performance in the second quarter of its fiscal year took a hit from lower revenue coming from Covid-19 products, but still backed its full-year outlook.

The German health-care company posted net profit of 108 million euros ($118.4 million) for the quarter ended March 31, significantly down from EUR583 million in the same quarter a year earlier.

Adjusted earnings before interest and taxes also declined to EUR681 million from EUR980 million, and basic earnings per share fell to EUR0.09 from EUR0.52, the company said.

Earnings and revenue took a hit from lower contributions from rapid Covid-19 antigen tests but also from transformation costs in the diagnostics business, and expenses related to a re-focusing of the endovascular robotics solution technology, the company said.

The diagnostics business was the worst hit in the quarter, with a 39% fall in revenue, according to the figures.

Nonetheless, Siemens Healthineers backed its full-year guidance, saying that it continues to expect revenue to develop between a 1% decline and 1% growth.

Excluding revenue from Covid-19 tests, revenue growth is set at between 6% and 8%. At the divisional level, however, the company lowered its expectations for the diagnostics segment.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

May 10, 2023 01:37 ET (05:37 GMT)

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