Siemens Healthineers Net Profit Falls on Higher Costs, Taxes
08 November 2023 - 7:35AM
Dow Jones News
By Adria Calatayud
Siemens Healthineers reported a lower net profit for the fourth
quarter of fiscal 2023 on higher charges and taxes, and forecast
growth in sales and adjusted earnings for the year ahead.
Net profit for the quarter ended September amounted to 537
million euros ($574.6 million) compared with EUR630 million in the
same period last year, the German healthcare company said
Wednesday. On an adjusted basis, basic earnings per share fell 11%
to EUR0.58.
The company attributed the fall to the impact of its
discontinued rapid Covid-19 antigen test business on profitability,
increased interest rates, higher severance charges and a higher tax
rate.
Revenue inched higher at EUR6.06 billion from EUR6.00 billion,
driven by growth in its Varian radiation-oncology business and its
imaging segment, the company said. On a comparable basis, quarterly
revenue grew 7.5%.
Analysts had expected Siemens Healthineers to post a quarterly
adjusted EPS of EUR0.58 on revenue of EUR5.87 billion, according to
consensus estimates provided by the company.
For the year ahead, Siemens Healthineers expects comparable
revenue growth of between 4.5% and 6.5% and adjusted EPS of EUR2.10
to EUR2.30.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
November 08, 2023 01:20 ET (06:20 GMT)
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