- Wednesday, October 16, 2024
Siemens Healthineers, the German healthcare-equipment company, has announced a rise in net profit for the first quarter of fiscal 2024. The increase in profit can be attributed to higher sales fueled by the growth of its Varian radiation-oncology business.
In the quarter ending December, net profit amounted to €431 million ($466.3 million), up from €421 million in the same period the previous year. Revenue also saw an increase, rising from €5.08 billion to €5.18 billion. On a comparable basis, revenue grew by 5.7%, driven by strong performances in the Varian, imaging, and advanced therapies segments. However, there was a decline in diagnostics sales.
Adjusted earnings before interest and taxes (EBIT) experienced growth as well, reaching €742 million compared to €685 million. This was accompanied by an expansion in the margin from 13.5% to 14.3%.
Analysts had predicted that Siemens Healthineers would report a net profit of €395 million, adjusted EBIT of €742 million, and revenue of €5.11 billion, according to consensus estimates provided by the company.
The company has affirmed its guidance for the fiscal year ending in September.
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