Siemens Healthineers: quarterly results in line, share price advances
This morning, the German medical device manufacturer reported adjusted earnings before interest and taxes (Ebit) up 8% to 742 million euros for its first fiscal quarter to the end of December, in line with consensus.
Its adjusted operating margin (Ebit) increased to 14.3%, from 13.5% a year earlier.
Sales rose by 1.9% to 5.2 billion euros, just above the average market forecast (5.1 billion euros).
On an organic basis, sales growth reached 5.7%.
This is rather satisfying when you consider that many were fearing a weaker-than-expected quarter", says a trader.
Its closely watched US cancer care subsidiary, Varian, generated organic growth of 22.3% in the quarter, for an adjusted operating margin of 15.9%
The Group also confirmed its annual targets, still expecting organic growth of 4.5% to 6.5% for the full year, with adjusted EPS expected to be between 2.10 and 2.30 euros.
Listed on the DAX index of the Frankfurt Stock Exchange, Siemens Healthineers shares gained 0.6% on Thursday morning following this publication, which came as no great surprise.
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