Q4 2024 Siemens Healthineers AG Earnings Call Transcript
Key Points
- Siemens Healthineers AG (SMMNY) achieved growth in all regions except China, with a book-to-bill ratio of 1.12.
- The company reported a 7% increase in comparable revenue, driven by strong growth in imaging, Varian, and advanced therapies.
- Adjusted EPS grew by 16%, supported by impressive margins in imaging and advanced therapies.
- Free cash flow more than doubled compared to Q4 last year, aided by improvements in inventory levels.
- Siemens Healthineers AG (SMMNY) introduced significant innovations in 2024, including the 1.5 Tesla MAGNETOM Flow and MAMMOMAT B.brilliant, contributing to market share gains.
- China's market posed significant headwinds, impacting growth and margins more than initially expected.
- The company anticipates a mid to high single-digit decline in China for the first half of fiscal year 2025.
- Concerns about potential tariffs and geopolitical tensions, particularly between the US and China, could impact operations.
- The diagnostics business is experiencing slower growth due to the transition from legacy systems to the Atellica franchise.
- The volume-based procurement initiative in China is impacting the growth trajectory of the diagnostics segment.
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, and welcome to our fourth quarter 2024 earnings call. I'd like to thank each one of you for joining us today. At 7:00 AM this morning, we published our Q4 results and all the related materials of today's results release, they are available on our IR section of the Siemens Healthineers web page. In a moment, we'll hear directly from our
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