Strong imaging performance drives Siemens Q4 higher

2019 02 01 21 48 6914 Siemens Rsna 2018 400

Driven by strong performances in its Imaging and Advanced Therapies divisions, Siemens Healthineers reported 8% revenue growth after currency conversions in its fourth quarter (end-September 30).

For the period, Siemens Healthineers posted fourth-quarter revenue of 4.142 billion euros, up 8% after adjusting for currency changes compared with sales of 3.704 billion euros in the corresponding quarter of 2018. Net income for the most recent quarter was 507 million euros, compared with net income of 374 million euros in the fourth quarter of fiscal 2018.

The company said that its fourth-quarter numbers were driven by "very strong growth" in its Imaging and Advanced Therapies divisions, with a "moderate" increase in its Diagnostics business. Sales were solid across all geographical regions, with "significant growth" in Asia, Australia, and the Americas.

The Imaging business posted revenue of 2.595 billion euros, up 10% after currency adjustment compared with sales of 2.287 billion euros in the fourth quarter of 2018. The Imaging division's profit was 559 million euros, compared with 458 million euros in the same period the year before. The Advanced Therapies business saw revenue growth of 14% after currency adjustment, while the Diagnostics business grew at a slower 2% rate.

The company forecast that it expected revenue growth after currency adjustment in the 5%-6% range in fiscal 2020.

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