Siemens Healthineers 3Q Profit Rose, Margins Weakened
29 Juli 2019 - 07:56AM
Dow Jones News
By Nathan Allen
Siemens Healthineers AG (SHL.XE) said Monday that net profit
rose in the third quarter of its fiscal year, although
profitability declined because of higher costs.
Net profit at the German medical-equipment maker rose to 348
million euros ($387.1 million) from EUR285 million a year
earlier.
Revenue climbed to EUR3.57 billion from EUR3.30 billion, the
company said.
However, the company said margins were weighed down by increased
ramp-up costs for the Atellica diagnostics platform.
"We are facing challenges in the diagnostics business. We are
tackling these issues resolutely," Chief Executive Bernd Montag
said.
The company backed guidance for fiscal 2019.
Separately, the company said it has named Christoph Zindel to
the board while board member Michael Reitermann has decided to step
down.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
July 29, 2019 01:41 ET (05:41 GMT)
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