Siemens Healthineers Ag · XETR:SHL

Siemens Healthineers — Q1 2019 Earnings Presentation

16 slides from Siemens Healthineers's earnings presentation, Jan 29, 2019

  1. Slide 1: Q1 Analyst Call

    Q1 Analyst Call Dr. Bernd Montag, CEO | Dr. Jochen Schmitz, CFO January 29, 2019 Q1 FY2019 Analyst Call Unrestricted © Siemens Healthineers AG, 2019 | Page 1

  2. Slide 2: Notes and forward looking statements

    Notes and forward looking statements 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, yo

  3. Slide 3: Mixed picture in Q1 – guidance for FY2019 confirmed

    Mixed picture in Q1 – guidance for FY2019 confirmed • Comparable1) revenue up by 2.5% with a very healthy equipment book-to-bill of 1.13 • Continued Atellica Solution2) ramp up with 370+ analyzers shipped3); again strong Diagnostics instruments growth - high single digit in Q1 • Low Diagnostics adju

  4. Slide 4: Digitalization and AI are already reality in our portfolio

    Digitalization and AI are already reality in our portfolio AI-Rad Companion1) platform AI-Pathway Companion2) platform syngo Virtual Cockpit AI-based software assistant for image Clinical decision support system based Remote scanning assistant improving reading on AI access and provider productivity

  5. Slide 5: Market feedback underscores Atellica Solution's unique proposition

    Market feedback underscores Atellica Solution’s1) unique proposition Atellica Solution’s capabilities Facts & feedback from ramp-up phase Highest throughput • Lab capacities boosted − higher volumes per sqm, per hour Unique priority test handling • Lab procedures simplified − no need for a separate

  6. Slide 6: Weak DX Q1 margin driven by FX and Atellica Solution – improving in coming quarters

    Weak DX Q1 margin driven by FX and Atellica Solution – improving in coming quarters Atellica Solution revenue Dominating themes in Q1 • Competitive wins on continued high level (>35%) • Significant step up of analyzers going live • High shipments combined with extended installation times (complex hi

  7. Slide 7: Mixed picture in both top and bottomline

    Mixed picture in both top and bottomline Revenue (€m) Adj. profit2) (€m) Net income (€m) Comparable Margin Growth1) +2.5% -60 bps EPS3) 0.31 0.34 Y-o-Y 3,198 3,301 17.1% 16.5% Y-o-Y +11% 547 545 345 310 Q1 FY2018 Q1 FY2019 Q1 FY2018 Q1 FY2019 Q1 FY2018 Q1 FY2019 • Q1 led by moderate growth in Imagin

  8. Slide 8: Margin at Diagnostics impacted by FX and Atellica ramp-up, margins for Imaging and Advanced Therapies fully on track

    Margin at Diagnostics impacted by FX and Atellica ramp-up, margins for Imaging and Advanced Therapies fully on track Imaging (€m) Diagnostics (€m) Advanced Therapies (€m) Comparable +3% +3% -4% Growth1) Revenue 1,943 2,021 929 964 368 355 Q1 FY2018 Q1 FY2019 Q1 FY2018 Q1 FY2019 Q1 FY2018 Q1 FY2019 M

  9. Slide 9: Low cash due to inventory build-up and capex spent

    Low cash due to inventory build-up and capex spent Q1 Siemens Healthineers Profit to Free Cash Flow Imaging 0.5 CCR1) Diagnostics <0 Adv. Therapies 0.5 CCR1) 0.12 638′ 532′ 106′ -223′ -154′ -66′ 189′ -7′ -126′ 63′ -87′ -24′ Healthineers Amortization, EBITDA Change in Change in Add. to Other Operatin

  10. Slide 10: Outlook – full year guidance confirmed

    Outlook – full year guidance confirmed Comparable revenue growth1) Adj. profit margin2) Earnings per share (in €) 4 - 5% 17.5 - 18.5%3) +20 to +30%3) 3.7% 17.2% 1.26 2018 2019E 2018 2019E 2018 2019E 1) Comparable growth excluding currency translation and portfolio effects 2) Adjusted for severance c

  11. Slide 11: Appendix

    Appendix Q1 FY2019 Analyst Call Unrestricted © Siemens Healthineers AG, 2019 | Page 11

  12. Slide 12: Q1 reconciliations and KPIs for group and segments

    Q1 reconciliations and KPIs for group and segments Q1 FY2019 Q1 FY2018 Advanced Advanced Healthineers Imaging Diagnostics Healthineers Imaging Diagnostics Position (€m) Therapies Therapies Profit 532 396 76 68 524 371 99 82 Severance charges 13 8 2 2 15 8 3 0 IPO costs 0 0 0 0 8 0 0 0 Adjusted profi

  13. Slide 13: Q1 group profit to net income and EPS reconciliation

    Q1 group profit to net income and EPS reconciliation Position (€m) Q1 FY2019 Q1 FY2018 Profit 532 524 Financial income from operations, net -3 (0) Amortization of intangibles assets acquired in business combinations -33 -33 Interest expenses, net -45 -70 therein interest income 6 4 therein interest

  14. Slide 14: Q1 balance sheet and net debt bridge

    Q1 balance sheet and net debt bridge Net debt overview (in €bn) Capital structure development in Q1 (in €bn) Leverage1) 1.5x 1.6x in €bn Sep. 30th 2018 Dec. 31st 2018 3.9 Cash and cash equivalents 0.5 0.8 3.6 1.0 Receivables from Siemens Group 1.4 0.9 Pensions 0.8 +0.1 (financial cash) +0.1 Short-te

  15. Slide 15: SHS loan maturity profile

    SHS loan maturity profile SHS loans with Siemens Group as of 31.12.20181) (in €m) Comments 1,475  Total loan volume ~4’’5 EUR equivalent Other  Average interest rate ~2.6% USD  Main loan volume (~91%) denominated in USD  Majority of maturities exceeding FY 2019 846 865 Top 5 loans 96 649 1,475 V

  16. Slide 16: Funded status decreased slightly due to lower interest rates and negative asset return

    Funded status decreased slightly due to lower interest rates and negative asset return Q1 FY2019 Key financials – Pensions and similar obligations Q1 in €bn1) FY2016 FY2017 FY2018 FY2019 Defined benefit obligation (DBO)2) (4.6) (4.1) (3.4) (3.4) Fair value of plan assets2) 2.4 2.4 2.6 2.5 Provisions

Siemens Healthineers — Q1 2019 Earnings Presentation on 6ix