Siemens Healthineers Ag · XETR:SHL

Siemens Healthineers — Q2 2022 Earnings Presentation

20 slides from Siemens Healthineers's earnings presentation, May 4, 2022

1. Slide 1: Q2 Analyst Call

   Q2 Analyst Call Bernd Montag, CEO | Jochen Schmitz, CFO May 04, 2022

2. 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

3. Slide 3: Growth and resilience in a challenging environment

   Growth and resilience in a challenging environment • Remarkable momentum in order and revenue growth continued: equipment book-to-bill at 1.22, comparable revenues up 16% despite unprecedented challenges • Diagnostics revenue with outstanding growth of 37% incl. ~€680m of rapid antigen sales • Stron

4. Slide 4: 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

5. Slide 5: Our strategic growth vectors

   Our strategic growth vectors Patient Twinning Precision Therapy Imaging Varian Fighting most threatening diseases Enabling efficient operations Expanding access to care Diagnostics Advanced Therapies Digital, Data and AI Q2 FY2022 Unrestricted © Siemens Healthineers AG, 2022 l 5

6. Slide 6: Our unmatched relevance

   Our unmatched relevance Office based Affil. Hospital Affil. Hospital Affil. Hospital Unique customer access specialties Outpatient Center • Unmatched C-level relationships • addressing all major departments Commercial Lab • addressing all major disease states Imaging Center Nuclear ICU Medicine Uniq

7. Slide 7: Growth and resilience in a challenging environment

   Growth and resilience in a challenging environment Unmatched global presence Innovative product portfolio balancing the impacts of serving unchanged COVID-19 lockdowns underlying growth drivers Pricing excellence Robust set-up and highly based on innovation leadership professional team managing glob

8. Slide 8: Growth and resilience in revenue and earnings per share in a challenging environment

   Growth and resilience in revenue and earnings per share in a challenging environment Revenue (€m) Adjusted basic earnings per share (€) +15.8% Comparable Growth 5,460 +53% 3,965 0.67 0.44 Q2 FY2021 Q2 FY2022 Q2 FY2021 Q2 FY2022 • 15.8% revenue growth in Q2 with growth across the board • Adj. basic E

9. Slide 9: Strong growth in all segments; margins impacted by FX and procurement and logistics costs

   Strong growth in all segments; margins impacted by FX and further increased procurement and logistics costs Imaging (€m) Diagnostics (€m) Advanced Therapies (€m) Comparable +6.5% +37.2% +7.6% Growth Adjusted 2,368 2,621 1,768 408 456 1,237 revenue Q2 FY2021 Q2 FY2022 Q2 FY2021 Q2 FY2022 Q2 FY2021 Q2

10. Slide 10: Varian – solid quarter with further expanding order backlog

    Varian – solid quarter with further expanding order backlog Equipment book-to-bill • Strong order backlog continues to expand, showing track record for positive equipment book-to-bill 1.31x • Signed multi-year multidisciplinary oncology service agreement Adjusted revenue1 with the Cancer Treatment C

11. Slide 11: Imaging – margin expected to significantly pick up in H2

    Imaging – margin expected to significantly pick up in H2 Proven track-record of industry-leading (gross) margins Imaging margin drivers H2 vs. H1 Scale drives cost degression in H2 (H2 revenues ~€0.5bn up vs. H1) FX headwinds in H1 (> -100 bps) falling to ~0 in H2 Pricing measures impact H2 Increase

12. Slide 12: Diagnostics – rapid antigen business more than compensates headwinds

    Diagnostics – rapid antigen business more than compensates headwinds from FX and procurement and logistics costs DX incl. rapid antigen tests DX ex rapid antigen tests Comparable revenue growth in FY22 • New rapid antigen assumption for FY22 of ~€1,300m [before: €700m] due to demand in the U.S., sha

13. Slide 13: Outlook FY2022 raised

    Outlook FY2022 raised Comparable revenue growth Adj. basic earnings per share 5.5 to 7.5% €2.25 to €2.35 €2.18 to €2.30 3 to 5% 2022E Old 2022E New 2022E Old 2022E New • Imaging growth at 6 to 8% (before: 5 to 8%) • Imaging margin at 21 to 22% (before: 22 to 23%) • Diagnostics growth at mid-single d

14. Slide 14: Appendix

    Appendix Q2 FY2022 Unrestricted © Siemens Healthineers AG, 2022 l 14

15. Slide 15: Q2 FY22 cash conversion held back by inventory buildup and incentive payouts

    Q2 FY22 cash conversion held back by inventory buildup and incentive payouts Q2 FY22 Siemens Healthineers EBIT to Free Cash Flow (€m) Imaging 0.6 CCR1 Diagnostics 0.3 Varian 1.8 Adv. Therapies 0.5 CCR1 0.37 1″116 947′ 169′ -137′ 761′ 186′ -338′ 605′ -75′ 40′ 347′ 39′ -219′ -39′ 164′ -223′ Healthinee

16. Slide 16: FY22 balance sheet and net debt bridge

    FY22 balance sheet and net debt bridge Net debt overview Capital structure development in FY22 (in €bn) in €bn Sep 30, 2021 Mar 31, 2022 Leverage1 3.5x 3.3x Cash and cash equivalents 1.3 1.1 12.8 13.2 Current receivables and 0.8 Pensions 0.9 receivables from the Siemens 0.6 0.9 -1.1 1.3 Group from f

17. Slide 17: SHS loan maturity profile

    SHS loan maturity profile SHS loans with Siemens Group as of Mar 31st, 20221 (in €m) Comments Other ▪ Total loan volume ~€13bn equivalent EUR ▪ Average interest rate ~0.5%3 p.a. USD 2,177 91 Top 10 loans ranked in € volume Notional Volume Volume Interest 1,730 Maturity Currency in m in €m rate 20 1,

18. Slide 18: Provisions for pensions decreased mainly due to increased discount rates

    Provisions for pensions decreased mainly due to increased discount rates Q2 FY2022 Key financials – Pensions and similar obligations Q1 Q2 in €bn1 FY2018 FY2019 FY2020 FY2021 FY2022 FY2022 Defined benefit (3.4) (3.8) (3.8) (4.1) (4.1) (3.8) obligation (DBO) Fair value of plan assets 2.6 2.8 2.8 3.3

19. Slide 19: 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

20. Slide 20: Q2 FY2022 Unrestricted © Siemens Healthineers AG, 2022 l 20

    Q2 FY2022 Unrestricted © Siemens Healthineers AG, 2022 l 20

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