Siemens Healthineers today announced first-quarter financial results that include a projection of single-digit growth in 2023.
Despite growth ahead, Siemens Healthineers reported adjusted earnings per share at €0.47 (51¢) for the three months ended Dec. 31, 2022. It reported revenues of nearly €5.1 billion ($5.6 billion) and profits totaling €426 million ($464.9 million).
The company reported a comparable revenue decline of 4.5% compared to the same three-month period one year prior. It attributed this in a news release to markedly lower revenue from rapid COVID-19 antigen test sales. Excluding the antigen tests, revenue growth registered at 0.7%. Diagnostic sales fell 23.7% year-over-year.
Imaging, in particular, demonstrated solid growth at a 5.2% clip. Advanced therapies grew 5% as well. However, the company’s Varian business saw sales dip by 4.5% as delays at a supplier caused disruptions. These disruptions have since been resolved, Siemens Healthineers said.
The company reported broad-based equipment order growth in percentages reaching double-digits.
Siemens Healthineers expects revenue growth to range between -1% and 1%. However, it projects 6%-8% growth excluding revenue from rapid COVID-19 antigen tests. The company set its adjusted EPS guidance for between €2.00 ($2.18) and €2.20 ($2.40).
“Our consistently strong equipment order growth underscores the trust that customers have in our innovation leadership.
This gives us great momentum to achieve our full-year targets,” said Siemens Healthineers CEO Bernd Montag.