Siemens Healthineers Seeks to Bolster Earnings, Sales in 2021
(Bloomberg) -- Siemens Healthineers AG is targeting adjusted earnings per share of between 1.58 euros ($1.84) and 1.72 euros in the current fiscal year and comparable sales growth of as much as 8% as new restrictions across Europe to fight the Covid-19 pandemic stoke recession fears.
- The outlook is based on the assumption that the pandemic can be brought under control, the German maker of hospital scanners said Monday in a statement. Fourth-quarter adjusted EPS fell 11% to 0.48 euros in the fiscal year that started Oct. 1.
- NOTE: The company’s sales outlook misses the average analyst estimate compiled by Bloomberg of 8.3% growth.
- Revenue fell 2% in the fourth quarter of the 2020 fiscal year, due to slight declines in the Imaging and Diagnostics operations and a more pronounced decrease in Advanced Therapies.
- Free cash flow increased 12% to 708 million euros
- The German provider of medical equipment for diagnostic imaging and laboratory testing systems made progress getting regulatory approval for the $16.4 billion takeover of Varian Medical Systems Inc. in countries including the U.S. and Brazil
- Completing one of Europe’s largest stock offerings will be a boost for Chief Executive Officer Bernd Montag. He pounced on Palo Alto, California-based Varian to expand in the rapidly growing field of cancer treatment, betting the purchase will have a positive effect on earnings within the first 12 months of the closing.
- Siemens Healthineers shares rose 0.5% to 36.86 euros on Friday in Frankfurt. The stock has lost 14% this year, valuing the division of German industrial giant Siemens AG at about 40 billion euros.
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