Siemens Healthineers Ag · XETR:SHL
Siemens Healthineers — Q3 FY2023 Earnings Presentation
21 slides from Siemens Healthineers's earnings presentation, Aug 2, 2023
Slide 1: Q3 Analyst Call
Q3 Analyst Call Bernd Montag, CEO | Jochen Schmitz, CFO Aug 2, 2023
Slide 2: Safe Harbour Statement
Safe Harbour Statement This presentation has been prepared solely for use at this meeting. This material is given in conjunction with an oral presentation and should not be taken out of context. By attending the meeting where this presentation is held or accessing this presentation, you agree to be
Slide 3: Double-digit revenue growth (ex-antigen) continues in Q3, outlook confirmed
Double-digit revenue growth (ex-antigen) continues in Q3 Outlook confirmed • Very strong revenue growth at 10% (ex-antigen) and healthy equipment book-to- bill of 1.11; revenue growth incl. antigen at 3.6% • Imaging growth at 15%, margin expanding to strong 21.8% • Diagnostics growth at 2% (ex-antig
Slide 4: Imaging: continuing strong momentum at leading margins
Imaging: continuing strong momentum at leading margins ▪ Strong growth momentum (15%) and further Photon Counting CT increasing backlog ▪ Continued strong demand, continued outperformance ▪ Further expanding industry-leading margins on innovation strength and scale ▪ Photon-counting setting new stan
Slide 5: Diagnostics: portfolio completed and first savings from transformation program kicking in as planned
Diagnostics: portfolio completed and first savings from transformation program kicking in as planned ▪ Atellica CI Analyzer1 FDA clearance received, key portfolio element in completing the Atellica ecosystem – youngest platform on the market ▪ Commercial momentum and revenue growth, Atellica franchi
Slide 6: Varian: combination continues to excite our customers
Varian: combination continues to excite our customers ▪ Continued order momentum, and HyperSight HyperSight creating lots of traction ▪ Leading in AI-based planning and adaptive therapy with more than 76,000 online adaptive sessions ▪ Q3 revenue held back by outbound logistics challenges ▪ Well on t
Slide 7: Advanced Therapies: growing revenue and margin
Advanced Therapies: growing revenue and margin ▪ Again, very strong revenue growth of 12% at expanding margins ▪ >1,000 ARTIS icono systems sold since launch ▪ Multi-modality deal with a leading cancer center in the U.S. ▪ Integration collaboration with Intuitive Surgical in the field of endobronchi
Slide 8: Our unique capabilities
Our unique capabilities Patient Twinning Precision Therapy Personalization of diagnosis, Intelligent and image guided therapy selection and monitoring, treatment for the most after care and managing health threatening diseases Digital, Data and AI Leveraging digital, data and AI and advance provider
Slide 9: Double-digit revenue growth (ex-antigen); EPS up y-o-y
Double-digit revenue growth (ex-antigen) EPS up y-o-y based on performance and lower tax rate Revenue (€m) Adjusted basic earnings per share (€) Comparable PYQ: +3.6% PYQ: +24% Y-o-Y Growth -5.7% -24% Ex-antigen Ex-antigen +0.9% +10% Ex-antigen -13% & DX transf. +69% 5,186 5,201 0.53 0.43 Antigen An
Slide 10: Imaging with very strong growth and margin expansion; Diagnostics core returning to growth
Imaging with very strong growth and margin expansion Diagnostics core returning to growth and positive margin Imaging (€m) Diagnostics (€m) Adjusted revenue Adj. EBIT (margin) Adjusted revenue Adj. EBIT (margin) Comparable Margin Comparable Margin Growth +15.2% Y-o-Y +360 bps Growth -20.1% Y-o-Y -1,
Slide 11: Varian on sustainable growth path; Advanced Therapies with very strong growth
Varian on sustainable growth path, margin compressed Advanced Therapies with very strong growth and margin Varian (€m) Advanced Therapies (€m) Adjusted revenue Adj. EBIT (margin) Adjusted revenue Adj. EBIT (margin) Comparable Margin Comparable Margin Growth +6.7% Y-o-Y -600 bps Growth +11.9% Y-o-Y +
Slide 12: Value Partnerships add resilience; backlog continuously expands
Value Partnerships add resilience Backlog continuously expands Equipment book-to-bill 1.15 1.23 1.15 1.06 FY 2020 FY 2021 FY 2022 FY2023 YTD • First week of our Q4: booked a 10-year strategic • Equipment book-to-bill continuously above 1 agreement with SSM Health on July 5th • Positive book-to-bill
Slide 13: Outlook FY2023 confirmed
Outlook FY2023 confirmed Comparable revenue growth1, 2 Adj. basic earnings per share2 Growth ex-antigen3: Growth ex-antigen3: 6 to 8% 13 to 24% 5.9% €2.29 €2.00 to €2.204 -1 to +1%4 Antigen Antigen accretion ~2% accretion ~55ct FY2022 FY2023E FY2022 FY2023E • Imaging growth at 7 to 9% • Imaging marg
Slide 14: Upcoming capital market communication
Upcoming capital market communication Strategic & financial update Meet-the-Management Q3 Results Q4 Results Aug 2, 2023 Nov 8, 2023 Dec 7, 2023 Virtual Roadshow In-person Roadshow In-person event London, US London, Frankfurt, Segment presentations Paris, Zurich, US & Q&A, site visit & experience ce
Slide 15: Appendix
Appendix Q3 FY2023 Unrestricted © Siemens Healthineers AG, 2023 l 15
Slide 16: Operating cash in Q3 impacted by inventory build-up for Q4
Operating cash in Q3 impacted by inventory build-up for Q4 Q3 FY23 Siemens Healthineers EBIT to Free Cash Flow (€m) Imaging 0.8 CCR2 Diagnostics <0 Varian 1.4 Adv. Therapies 1.6 CCR1 0.78 882′ 755′ 222′ 660′ -343′ -62′ 88′ 568′ 92′ 190′ 45′ 518′ -192′ -45′ 285′ -278′ Healthineers PPA EBIT excl. Depr
Slide 17: FY23 balance sheet and net debt bridge
FY23 balance sheet and net debt bridge Net debt impacted in Q3 by early completion of share buyback Net debt overview Capital structure development in FY23 (in €bn) in €bn Sep 30, 2022 June 30, 2023 Leverage1 3.0x 3.7x Cash and cash equivalents 1.4 1.8 13.8 12.7 0.6 Receivables from the Siemens 0.7
Slide 18: Loan maturity profile
Loan maturity profile Loans with Siemens Group as of Jun 30th, 20231 (in €m) Comments Other ▪ Total loan volume ~€13bn equivalent EUR ▪ Average interest rate ~1.4% p.a.3 USD 2,196 Top 10 loans ranked in € volume 85 254 Notional Volume Volume Interest Maturity Currency in m in €m rate USD $1,689 €1,5
Slide 19: Provisions for pensions
Provisions for pensions Q3 FY2023 Key financials – Pensions and similar obligations Q1 Q2 Q3 in €bn1 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2023 FY2023 Defined benefit (3.4) (3.8) (3.8) (4.1) (3.3) (3.2) (3.3) (3.3) obligation (DBO) Fair value of plan 2.6 2.8 2.8 3.3 2.8 2.7 2.8 2.8 assets Prov
Slide 20: Glossary
Glossary Adjusted revenue is defined as consolidated revenue reported in the company’s consolidated statements of income adjusted for effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. Comparable revenue growth is defined as the development of adjusted r
Slide 21: Q3 FY2023 Unrestricted © Siemens Healthineers AG, 2023 l 21
Q3 FY2023 Unrestricted © Siemens Healthineers AG, 2023 l 21
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