Q3 2024 Siemens Healthineers AG Earnings Call Transcript
Key Points
- Siemens Healthineers AG (SMMNY) confirmed its outlook for comparable revenue growth and adjusted EPS for fiscal '24.
- Varian delivered a solid performance with 10% growth and a healthy 16.6% margin.
- Diagnostics significantly expanded its margin to 7.4% due to a well-executed transformation program.
- The company has a strong and growing order backlog with an equipment book-to-bill rate of 1.07.
- Siemens Healthineers AG (SMMNY) is optimistic about future growth prospects due to secular growth drivers like aging populations and rising noncommunicable diseases.
- Revenue growth in Q3 was only 4%, mainly held back by a 13% decline in China.
- Imaging growth was impacted by the anti-corruption campaign in China, leading to a lower-than-expected performance.
- Foreign exchange headwinds negatively impacted margins across several segments, including Imaging and Advanced Therapies.
- The company had to lower its growth range for Imaging due to continued revenue decline in China.
- Despite the positive outlook, the company acknowledged that further margin improvement in Diagnostics will not happen at the same speed as seen this year.
Good morning, ladies and gentlemen, and welcome to Siemens Healthineers conference call. As a reminder, this conference is being recorded. Before we begin, I would like to draw your attention to the safe harbor statement on Page 2 of the Siemens Healthineers' presentation. This conference call may include forward-looking statements. These statements are based on the company's current expectations and certain assumptions and are, therefore, subject to certain risks and uncertainties.
At this time, I would like to turn the call over to your host today, Mr. Marc Koebernick, Head of Investor relations. Please go ahead, sir.
Thank you, operator. Good morning, dear analysts and investors. Our CEO, Bernd Montag; and our CFO, Jochen Schmitz, who are here with me in our headquarters in Erlangen will be taking you through the details of our Q3 2024 for this morning. The Q3 results for fiscal '24 were published this morning at 7 AM, and you can find all relevant documents as well as the
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