By Cecilia Butini
Siemens Healthineers AG said late Tuesday that earnings and revenue rose for the first quarter and that it has raised its outlook for financial year 2021.
The German medical-equipment maker posted adjusted earnings before interest and taxes of 738 million euros ($897.5 million) for the period, up from EUR487 million a year earlier. Margin on adjusted EBIT was 19.1% for the quarter, compared with a 13.6% margin a year earlier it said.
Revenue came in at EUR3.87 billion, 13.3% higher than the previous year, when it was EUR3.59 billion, Siemens Healthineers said.
Adjusted basic earnings per share were EUR0.49, up from EUR0.36 the previous year, it added.
Siemens Healthineers raised its 2021 outlook. It now guides for 8%-12% comparable revenue growth, having previously guided for a 5%-8% range. The expected adjusted basic earnings per share are now in a range of EUR1.63-EUR1.82 per share, up from a previous range of EUR1.58-EUR1.72 per share.
"The outlook was raised based on the ongoing pandemic-related demands and a higher confidence in the normalization of the underlying business," Siemens Healthineers said. It also said that it assumes that a further normalization of demand for standard procedures to pre-pandemic levels will take place.
Full earnings for the first quarter will be released on Feb. 1, the company said.
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