Siemens Healthineers Annual Shareholders' Meeting: Profitable growth and commitment to Germany
Erlangen/Munich, Germany| Feb 12, 2020
At this year's Annual Shareholders' Meeting of Siemens Healthineers AG, one major focus is the MedTech company's mid-term development. 'In the past fiscal year, the Managing Board has further developed the business in a significant way and, in doing so, set the right course,' Prof. Dr. Ralf P. Thomas, the new Chairman of the Supervisory Board, told shareholders in his speech at the International Congress Center in Munich on Wednesday, adding that the company has successfully established itself on the stock market and is in a very strong strategic position. 'And that's the best prerequisite for reaching the next entrepreneurial level of profitable growth,' said Ralf Thomas. According to the Chairman, Siemens Healthineers should continue to grow profitably and sustainably expand its leading market position.
In fiscal year 2019 (ending September 30), Siemens Healthineers AG posted strong revenue and earnings growth, mainly through a good performance in the Imaging and Advanced Therapies segments. Against this background, the dividend is to be increased by 14 percent compared to the previous year to EUR 0.80 per share, subject to the approval of the Annual Shareholders' Meeting on Wednesday.
With the start of fiscal year 2020, the company entered the second phase of its 'Siemens Healthineers Strategy 2025', during which it aims, among other things, to strengthen its position in growth regions and drive forward the digitalization of its portfolio. 'We will pursue the so-called Upgrading phase of our Strategy 2025 in a focused manner over the coming years,' said CEO Dr. Bernd Montag at the Annual Shareholders' Meeting. 'At the same time, we are renewing our commitment to Germany.' In fiscal year 2019, the company decided on investment projects in Germany exceeding €400 million.
The Upgrading phase will run until the end of fiscal year 2022. For the current fiscal year, Siemens Healthineers aims to achieve revenue growth on a comparable basis, i.e. excluding currency translation and portfolio effects, of five to six percent, with adjusted1 basic earnings per share rising six to twelve percent over the previous year. In fiscal years 2021 and 2022, revenue is expected to grow by more than five prevent each year on a comparable basis and adjusted basic earnings per share should record an annual increase of around ten percent.
Both Ralf Thomas and Bernd Montag expressed their gratitude to Michael Sen at the Annual Shareholders' Meeting for his services to Siemens Healthineers. Michael Sen helped shape the company for many years, first as CFO of the then Siemens Healthcare sector, then as Siemens Managing Board member responsible for Siemens Healthineers, and finally as Chairman of the Supervisory Board of Siemens Healthineers AG. On November 30, 2019, Mr. Sen resigned from this position to focus on the spin-off and future development of Siemens Energy AG in his new role as CEO-designate of the company.
At the end of November, the Supervisory Board of Siemens Healthineers AG unanimously elected Ralf Thomas as Michael Sen's successor. At the end of the Annual Shareholders' Meeting, Mr. Sen intends to step down completely from the Supervisory Board of Siemens Healthineers AG. Dr. Roland Busch will be proposed to the Annual Shareholders' Meeting on Wednesday as his successor. Mr. Busch is Deputy Chairman of the Managing Board, Chief Technology Officer and Member of the Managing Board of Siemens AG, which has an 85 percent stake in Siemens Healthineers AG.
1Adjusted for amortization of intangible assets acquired in business combinations, severance charges and acquisition-related transaction costs, net of tax
Siemens Healthineers AG (listed in Frankfurt, Germany: SHL) is shaping the future of Healthcare. As a leading medical technology company headquartered in Erlangen, Germany, Siemens Healthineers enables healthcare providers worldwide through its regional companies to increase value by empowering them on their journey towards expanding precision medicine, transforming care delivery, improving the patient experience, and digitalizing healthcare. Siemens Healthineers is continuously developing its product and service portfolio, with AI-supported applications and digital offerings that play an increasingly important role in the next generation of medical technology. These new applications will enhance the company's foundation in in-vitro diagnostic, image-guided therapy, and in-vivo diagnostics. Siemens Healthineers also provides a range of services and solutions to enhance healthcare providers ability to provide high-quality, efficient care to patients. In fiscal 2019, which ended on September 30, 2019, Siemens Healthineers, which has approximately 52,000 employees worldwide, generated revenue of €14.5 billion and adjusted profit of €2.5 billion. Further information is available at www.siemens-healthineers.com.
This document contains statements related to our future business and financial performance and future events or developments involving Siemens Healthineers that may constitute forward-looking statements. These statements may be identified by words such as 'expect', 'forecast', 'anticipate', 'intend', 'plan', 'believe', 'seek', 'estimate', 'will', 'target' or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens Healthineers' management, of which many are beyond Siemens Healthineers' control. As they relate to future events or developments, these statements are subject to a multitude of risks, uncertainties and factors, including, but not limited to those described in the respective disclosures. Should one or more of these risks, uncertainties or factors materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Siemens Healthineers may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. All forward-looking statements only speak as of the date when they were made and Siemens Healthineers neither intends, nor assumes any obligation, unless required by law, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
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Siemens Healthineers AG published this content on 12 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 February 2020 10:23:04 UTC