(News Bulletin 247) – Given the gradual decrease in rapid antigen testing activities, comparable sales decreased by -2.5% to €5,346 million in the 2nd quarter of 2023 compared to the 2nd quarter of the financial year previous.
Comparable store sales growth was 11.2% in the 2nd quarter ended March 31, 2023, excluding COVID-19 rapid antigen tests.
Diagnostics segment revenue declined 39.0% on a like-for-like basis due to lower COVID-19 rapid antigen testing business.
Adjusted EBIT fell by 30% to EUR 681 million, resulting in a 12.7% decline in Adjusted EBIT margin. “This is due to the marked decline in contributions from rapid COVID-19 antigen tests,” the group said. Net profit fell 81% to 108 million euros. Adjusted basic earnings per share were lower than the quarter of the previous fiscal year, at 0.43 euro. Excluding rapid antigen testing and processing costs, adjusted basic earnings per share increased 11%.
In terms of the outlook for the 2023 financial year, the group confirms that it anticipates comparable revenue growth of -1% to 1% (6% to 8% excluding revenue from rapid antigen COVID-19 tests) and adjusted basic earnings per share of 2.00 to 2.20 euros.
Bernd Montag, CEO of Siemens Healthineers said: ‘We are on track to achieve our annual and mid-term goals. ‘
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