Siemens Healthineers Ag · XETR:SHL

Siemens Healthineers — Q1 FY2022 Earnings Presentation

20 slides from Siemens Healthineers's earnings presentation, Feb 3, 2022

  1. Slide 1: Q1 Analyst Call

    Q1 Analyst Call Bernd Montag, CEO | Jochen Schmitz, CFO February 03, 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: Strong start to FY2022 – Outlook raised

    Strong start to FY2022 – Outlook raised • Very good growth: 9.5% in revenue and equipment book-to-bill at 1.20 • Diagnostics revenue with excellent growth of 20% incl. €329m of rapid antigen sales • Very solid start for Varian with €750m revenue contribution • Imaging continues to be strong with 6%

  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 provi

  5. Slide 5: ...enable breakthrough innovations

    ...enable breakthrough innovations Patient Twinning Precision Therapy MAGNETOM Atellica CorPath GRX Ethos Free.Max CI1900 Advancing into neuro- Taking the lead in Breaking Bringing vascular interventions adaptive barriers Atellica technology into low- cancer in MRI to-mid volume labs and hub therapy

  6. Slide 6: We pioneer breakthroughs in healthcare. For everyone. Everywhere.

    We pioneer breakthroughs in healthcare. For everyone. Everywhere. Comparable revenue growth 6 ─ 8% p.a. Fighting most threatening diseases Enabling efficient operations Expanding access to care Adj. basic EPS growth 12 ─ 15% p.a. Q1 FY2022 Note: The guidance for 2023-25 is based on current foreign e

  7. Slide 7: Varian with a very solid start, strong order backlog further increasing

    Varian with a very solid start, strong order backlog further increasing Very positive revenue growth Strong backlog increasing Strong profitability level Adj. Revenue1 (€m) Adj. EBIT (margin) (€m) Equipment book-to-bill of 1.23 709 750 122 117 591 98 (17.3%) (15.7%) (16.6%) Q3 FY212 Q4 FY21 Q1 FY22

  8. Slide 8: Good underlying revenue growth, significant contribution from rapid antigen revenue on top

    Good underlying revenue growth, significant contribution from rapid antigen revenue on top Revenue (€m) Adjusted basic earnings per share (€) +9.5% Comparable Growth 5,068 +12% 3,868 0.55 0.49 Q1 FY2021 Q1 FY2022 Q1 FY2021 Q1 FY2022 • 9.5% revenue growth in Q1 with growth across the board • Adj. bas

  9. Slide 9: Very good topline across the board, margins with headwinds from FX, procurement and logistics costs

    Very good topline across the board, margins with headwinds from FX, procurement and logistics costs Imaging (€m) Diagnostics (€m) Advanced Therapies (€m) Comparable +5.9% +19.7% +3.3% Growth Adjusted 2,319 2,525 1,183 1,446 412 437 revenue Q1 FY2021 Q1 FY2022 Q1 FY2021 Q1 FY2022 Q1 FY2021 Q1 FY2022

  10. Slide 10: Diagnostics core business progressing according to plan, rapid antigen revenue assumption increased

    Diagnostics core business progressing according to plan, rapid antigen revenue assumption increased DX incl. rapid antigen tests DX ex rapid antigen tests Comparable revenue growth in FY22 • New rapid antigen assumption for FY2 22 of ~€7 m due to momentum in EMEA and EUA approval in the U.S. [before

  11. Slide 11: Profit impacts in the course of fiscal year 2022

    Profit impacts in the course of fiscal year 2022 Adj. EBIT (y-o-y) H1 H2 Accretion from rapid • Very strong H1 expected due to momentum in antigen business ++ -- EMEA and EUA approval in the U.S. • H2 expected to decline y-o-y, vs. strong H2 in PY Impacts from FX -- + • Due to hedging, positive FX i

  12. Slide 12: Outlook FY2022 raised

    Outlook FY2022 raised Comparable revenue growth Adj. basic earnings per share 3 to 5% €2.1 to €2.3 €2. to €2.2 0 to 2% 2022E Old 2022E New 2022E Old 2022E New • Diagnostics with low-single digit negative growth • Diagnostics margin in the low teens (before: in the high (before: mid-teens negative gr

  13. Slide 13: Appendix

    Appendix Q1 FY2022 Unrestricted © Siemens Healthineers AG, 2022 l 13

  14. Slide 14: Strong start in generating free cash flow

    Strong start in generating free cash flow Q1 FY22 Siemens Healthineers EBIT to Free Cash Flow (€m) Imaging 1.0 CCR1 Diagnostics 0.5 Varian 1.9 Adv. Therapies 1.4 CCR1 0.76 1″ 5 238′ -353′ 67′ 139′ 66′ -53′ 692′ 175′ 29′ 663′ 40′ -163′ -40′ 556′ -147′ Healthineers PPA EBIT excl. Depr. of PPE EBITDA C

  15. Slide 15: 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 Dec 31, 2021 Leverage1 3.5x 3.3x Cash and cash equivalents 1.3 1.3 12.8 Current receivables from the 12.3 Pensions 0.9 Siemens Group from financing 0.6 1.2 -0.7 0.1 0.9 activit

  16. Slide 16: SHS loan maturity profile

    SHS loan maturity profile SHS loans with Siemens Group as of Dec 31st, 20211 (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,

  17. Slide 17: Provisions for pensions unchanged

    Provisions for pensions unchanged Q1 FY2022 Key financials – Pensions and similar obligations Q1 in €bn1 FY2018 FY2019 FY2020 FY2021 FY2022 Defined benefit obligation (3.4) (3.8) (3.8) (4.1) (4.1) (DBO) Fair value of plan assets 2.6 2.8 2.8 3.3 3.4 Provisions for pensions and (0.8) (1.0) (1.0) (0.9)

  18. Slide 18: Disclaimer

    Disclaimer Atellica CI1900: Currently under development and not yet commercially available. Its future availability cannot be guaranteed AI-Rad Companion: AI-Rad Companion consists of several health products and medical devices in their own right, and products under development. AI-Rad Companion is

  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: Q1 FY2022 Unrestricted © Siemens Healthineers AG, 2022 l 20

    Q1 FY2022 Unrestricted © Siemens Healthineers AG, 2022 l 20

Siemens Healthineers — Q1 FY2022 Earnings Presentation on 6ix