Siemens Healthineers Ag · XETR:SHL

Siemens Healthineers — Q3 FY2018 Earnings Presentation

15 slides from Siemens Healthineers's earnings presentation, Jul 30, 2018

  1. Slide 1: Siemens Healthineers Q3 FY2018 Analyst Call

    Siemens Healthineers Q3 FY2018 Analyst Call Dr. Bernd Montag, CEO | Dr. Jochen Schmitz, CFO July 30, 2018 Page 0 | Unrestricted © Siemens Healthcare GmbH, 2018

  2. Slide 2: Notes and forward looking statements

    Notes and forward looking statements This presentation has been prepared solely for use at this meeting. By attending the meeting where this presentation is made or accessing this presentation, you agree to be bound by the following limitations. This material is given in conjunction with an oral pre

  3. Slide 3: Q3 FY2018 – Strong comparable revenue growth and accelerating Atellica shipments

    Q3 FY2018 – Strong comparable revenue growth and accelerating Atellica shipments • Comparable revenue1) up by 5% driven by very strong Imaging business with 8% growth • Diagnostics with 1% growth1) and continued double-digit instrument sales growth • Atellica Solution ramp-up on track with 560+ anal

  4. Slide 4: Major product innovations further expanding our leading position in precision medicine

    Major product innovations further expanding our leading position in precision medicine ACUSON Sequoia Biograph Vision US MI Expanding Precision Medicine Expanding Precision Medicine Taking Ultrasound See a Whole New to New Heights World of Precision Addressing intrinsic variability Going beyond digi

  5. Slide 5: Atellica Solution shipments gaining speed as planned

    Atellica Solution1) shipments gaining speed as planned Ramp-up of analyzer shipments (cumulative) Comments 7,000+ • 560+ analyzers shipped to date - regional split: • EMEA2): ~50% • Americas: ~35% • Asia Pacific: ~15% • New customer wins continue to be > 35%, e.g. • Germany: ISG Intermed Services (1

  6. Slide 6: Strong growth driven by Imaging business

    Strong growth driven by Imaging business Revenue (€m) Adj. profit margin2) Adj. net income2) (€m) Comparable +4.7% Y-o-Y Adj. EPS3) 0.35 0.33 Growth1) -110 bps 3,307 3,300 -7% 17.1% 16.0% 357 334 Q3 FY2017 Q3 FY2018 Q3 FY2017 Q3 FY2018 Q3 FY2017 Q3 FY2018 • Strong comparable growth driven by • Adj.

  7. Slide 7: Strong performance of Imaging despite FX headwinds

    Strong performance of Imaging despite FX headwinds Imaging Diagnostics Advanced Therapies Comparable Growth1) +8% +1% +1% Total revenue (€m) 1,923 1,976 1,045 1,007 365 353 Q3 FY2017 Q3 FY2018 Q3 FY2017 Q3 FY2018 Q3 FY2017 Q3 FY2018 Y-o-Y -80 bps -270 bps -40 bps Adj. profit margin2) 18.2% 17.4% 13.

  8. Slide 8: High cash conversion in Imaging and Advanced Therapies

    High cash conversion in Imaging and Advanced Therapies Cash Conversion Rate (CCR)1): Imaging 1.2 Diagnostics 0.4 Adv. Therapies 1.6 in €m CCR 0.92) 598 15 Therein: Funding U.S. pension plan: - 126 95 -127 503 IPO costs: - 41 4612) -71 414 -2 167 -120 -25 294 269 Healthineers Depreciation, EBITDA Cha

  9. Slide 9: FY2018 guidance reaffirmed

    FY2018 guidance reaffirmed FY2017 (IFRS 15) FY2018E Comments on FY2018E Revenue (€m) 13,677 • Comparable revenue growth on a q-o-q basis can fluctuate significantly • Significant FX headwinds in FY2018E expected Comparable growth 1) 3.8%2) 3-4% Adj. profit (€m) 2,458 • Adjusted for severance and ext

  10. Slide 10: Appendix

    Appendix Q3 FY2018 Analyst Call Page 9 | Unrestricted © Siemens Healthineers AG, 2018

  11. Slide 11: Reported to adjusted net income reconciliation

    Reported to adjusted net income reconciliation Position (€m) Q3 FY2018 Q3 FY2017 Net income 293 325 therein: severance charges -25 -11 therein: IPO costs 0 0 therein: PPA amortization -33 -36 therein: income tax effect1) 17 14 Adjusted net income2) 334 357 1) Calculated with a tax rate of 29.4% acco

  12. Slide 12: Reported to adjusted profit reconciliation

    Reported to adjusted profit reconciliation Q3 FY2018 Q3 FY2017 Advanced Advanced Healthineers Imaging Diagnostics Healthineers Imaging Diagnostics Position (€m) Therapies Therapies Profit 503 333 105 52 556 346 139 63 therein: severance charges -25 -11 -5 -8 -11 -5 -3 0 therein: IPO costs 0 0 0 0 0

  13. Slide 13: Balance Sheet

    Balance Sheet Net debt overview (in €bn) Capital structure development in Q3 (in €bn) 4.4 in €m March 31st 2018 June 29th 2018 4.1 Pensions 1.0 Cash and cash equivalents 0.2 0.2 0.9 +0.2 Receivables from Siemens Group +0.1 1.7 1.3 (financial cash) -0.4 Short-term and long-term debt (0.1) (0.1) Payab

  14. Slide 14: SHS loan maturity profile: debt mainly driven by long-term loans denominated in USD

    SHS loan maturity profile: debt mainly driven by long- term loans denominated in USD SHS loans with Siemens Group as of 30.06.2018* (in €m) Comments 1,449  Total loan volume 4’’3 EUR equivalent Other  Average interest rate 2.8% USD  Main loan volume (~87%) denominated in USD  Majority of maturit

  15. Slide 15: Slight reduction of pension deficit driven by extraordinary funding in the US

    Slight reduction of pension deficit driven by extraordinary funding in the US Q3 FY2018 Key financials – Pensions and similar obligations Q1 Q2 Q3 in €bn1) FY2015 FY2016 FY2017 FY2018 FY2018 FY2018 Defined benefit obligation (DBO)2) (3.3) (4.6) (4.1) (3.5) (3.4) (3.4) Fair value of plan assets2) 2.0

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