The DAX newcomer achieved record sales in the corona pandemic.
(Photo: dpa)
Munich The DAX newcomer Siemens Healthineers closed its fiscal year with a record turnover, thanks in part to the high demand for corona rapid tests. The medical technology specialist’s revenues increased by a comparable 19.3 percent to 18 billion euros for the first time in the 2020/21 financial year (September 30).
“We acted quickly and prudently in the pandemic,” said CEO Bernd Montag on Thursday when the balance sheet was presented. As a result, the Siemens subsidiary gained market share. Montag expects significantly weaker growth for the new financial year – mainly due to the lower demand for corona tests.
In the 2020/21 financial year, Healthineers achieved sales of 1.1 billion euros with rapid antigen tests. But even without this effect, sales increased by 11.8 percent. For the first time, the figures from US cancer therapy specialist Varian were also included after the $ 16 billion takeover.
A look at the business areas shows that the imaging and diagnostics divisions grew by a double-digit percentage in the past fiscal year. In the fourth quarter, which ran from July to September, group sales rose by a comparable 14.4 percent to just under 5.2 billion euros, and adjusted EBIT rose by 26 percent to 793 million euros.
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The Healthineers also made significant progress in terms of profit for the year as a whole. Adjusted operating profit (EBIT) rose by 40 percent to a good 3.1 billion euros. That corresponded to a margin of 17.4 percent. The undiluted earnings per share improved from 1.41 to 1.57 euros.
Forecast raised several times
Siemens Healthineers had raised its forecast for the fiscal year several times. Most recently, the company expected comparable sales growth of 17 to 19 percent and adjusted, undiluted earnings of 1.95 to 2.05 euros per share.
Analysts had expected an average increase in sales of 18 percent to 17.9 billion euros and an adjusted EBIT of 3.25 billion euros for the financial year. For the fourth quarter, the consensus was a good five billion euros and an operating profit of 898 million euros.
In the current fiscal year 2021/22, Siemens Healthineers want to at least maintain sales despite the lower corona effect. On a comparable basis, revenues are expected to increase by 0 to 2 percent.
If the sales with quick tests are excluded, sales in 2021/22 should grow by five to seven percent in a comparable way – than, for example, without currency effects. Adjusted earnings per share are expected to be between EUR 2.08 and EUR 2.20.
The Siemens subsidiary was included in the Dax in September. With a market value of more than 65 billion euros, the Healthineers were most recently in eleventh place, ahead of more traditional members such as BASF and BMW.
With a price increase of around a third, the share has developed significantly better than the Dax since the beginning of the year.
The competition had mostly gone well recently, too. After sales rose by eight percent to 46.7 billion Swiss francs in the first nine months, Roche CEO Severin Schwan recently raised the forecast for the full year. In the diagnostics business, which competes directly with the Healthineers, sales even climbed 39 percent to CHF 13.3 billion by the end of September.
For comparison: The Siemens Healthineers diagnostics division grew by a good 42 percent to 5.4 billion euros in the full year 20/21. Without the rapid test, the increase was 14.7 percent.
The competitor Philips, however, had to accept declines in sales and profit in the third quarter. The revenues fell by almost eight percent to 4.2 billion euros, the operating profit fell by a quarter to 512 million euros. Philips justified this with problems in the supply chain and the consequences of a product recall.
More: Healthineers boss sets higher medium-term goals.