Siemens Healthineers Ag · XETR:SHL

Siemens Healthineers — Q1 2021 Earnings Presentation

20 slides from Siemens Healthineers's earnings presentation, Feb 1, 2021

  1. Slide 1: Q1 Analyst Call

    Q1 Analyst Call Dr. Bernd Montag, CEO | Dr. Jochen Schmitz, CFO February 1, 2021

  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: Strength across the board, supported by pandemic-related demands; Outlook raised

    Strength across the board, supported by pandemic-related demands; Outlook raised for revenue and adjusted EPS • Very strong start into the fiscal year with 13% comparable revenue growth1 in Q1 • Continuous high equipment book-to-bill of 1.16 • Outstanding 23% growth1 in Diagnostics with significant

  4. Slide 4: Industry-leading Imaging business in full swing

    Industry-leading Imaging business in full swing Highlights Attractive fundamentals Healthy growth in Q1 across modalities ~2/3 revenue from innovations1 • Exceptionally strong revenue growth Consistent above market growth with Computed Tomography and X-ray due to continued roll-out of • Equipment re

  5. Slide 5: Diagnostics business normalizing – Rapid Antigen test with significant positive contribution

    Diagnostics business normalizing – Rapid Antigen test with significant positive contribution Core business back to growth COVID-19 portfolio well positioned On track with solid growth Strong uptake of our Rapid & margin recovery SARS-CoV-2 POC Antigen Test1,3 Solid progress on Atellica Continued gro

  6. Slide 6: Very strong revenue growth and high profitability

    Very strong revenue growth and high profitability Revenue (€m) Adjusted basic earnings per share (€) Net Income 304 437 Comparable (€m) +13.3% Growth1 Y-o-Y +37% 3,587 3,868 0.49 0.36 Q1 FY2020 Q1 FY2021 Q1 FY2020 Q1 FY2021 • Significant revenue growth1 of 13% on solid comps (PYQ: 5%) • Adj. basic E

  7. Slide 7: Very strong growth across the board with Diagnostics standing out; Imaging with record Q1 profitability

    Very strong growth across the board with Diagnostics standing out; Imaging with record Q1 profitability Imaging (€m) Diagnostics (€m) Advanced Therapies (€m) Comparable +9.3% +23.5% +6.3% Growth1 Adjusted 2,221 2,319 1,013 1,183 404 412 revenue Q1 FY2020 Q1 FY2021 Q1 FY2020 Q1 FY2021 Q1 FY2020 Q1 FY

  8. Slide 8: Diagnostics – Accretion from Antigen test assumed to decline in H2 FY21

    Diagnostics – Accretion from Antigen test assumed to decline in H2 FY21 DX incl. COVID-19 tests DX excl. COVID-19 tests Comparable revenue growth1 in FY21 • Good uptake of Antigen tests, sales of €130 m in Q1 • Updated Antigen revenue assumption for FY21 at €300-350 m, easy comps front-loaded due to

  9. Slide 9: Testing and examination normalized despite volatility in COVID-19 incidence

    Testing and examination normalized despite volatility in COVID-19 incidence Central lab test volumes1 Magnetic resonance exams2 China China Typical Typical COVID-19 cases test level exam level COVID-19 cases # of tests # of exams 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Jan Feb Mar Apr

  10. Slide 10: Raised outlook for FY2021 (ex Varian)

    Raised outlook for FY2021 (ex Varian) Comparable revenue growth1,3 Adj. basic EPS2,3 (€) Comp.4 adj. 8% to 12% +10% to +18% ~16% to ~28% EPS growth: 1.63 to 1.82 5% to 8% 1.58 to 1.72 2021E Old 2021E New 2021E Old 2021E New • Higher Growth in FY21 due to faster recovery and higher than • Higher adj.

  11. Slide 11: We are well on track to complete a transformative acquisition

    We are well on track to complete a transformative acquisition Q1 FY21 results Post Q1 Annual Shareholders’ Post Q1 Q2 FY21 results Capital Market and Analyst Call roadshows Meeting conferences and Analyst Call Day Feb 1, 2021 Feb 2/3, 2021 Feb 12, 2021 thru Mar, 2021 May 3, 2021 Autumn 2021 Integrat

  12. Slide 12: Sustainability – an inherent element of our purpose and our leadership model

    Sustainability – an inherent element of our purpose and our leadership model >> ESG targets part of Innovating to sustainably enable healthcare the LTI compensation for everyone everywhere for MBM and eligible senior management Improve quality Contribute to a Advance diversity of live through regene

  13. Slide 13: Set for further structural and innovation-driven growth

    Set for further structural and innovation-driven growth Syngo Carbon Photon Counting1 The connecting Introducing a new element that gives era of Computed rise to knowledge Tomography Today MAGNETOM CI19001 Corindus2 Free.Max1 Bringing Atellica Tomorrow Continued market Breaking Barriers technology i

  14. Slide 14: A compelling investment case

    A compelling investment case 1 22 3 4 Attractive structural Sector leading margins Expanding portfolio Resilient performance and innovation with further upside into adjacent growth at all times driven growth markets • Leading positions in attractive, • Scope for further expansion • Varian: New level

  15. Slide 15: Appendix

    Appendix Q1 FY2021 Unrestricted © Siemens Healthineers AG, 2021 l 15

  16. Slide 16: Strong cash conversion in a strong revenue quarter

    Strong cash conversion in a strong revenue quarter Q1 FY21 Siemens Healthineers EBIT to Free Cash Flow (€m) Imaging 1.2 CCR2 Diagnostics 0.7 Adv. Therapies 0.9 CCR1 1.04 -61′ 925′ 889′ 12′ -52′ 167′ 137′ 749′ 30′ 683′ 722′ -146′ 668′ -30′ 39′ -111′ Healthineers PPA EBIT excl. Depr. of PPE EBITDA Cha

  17. Slide 17: Q1 balance sheet and net debt bridge

    Q1 balance sheet and net debt bridge Net debt overview Capital structure development in Q1 (in €bn) in €bn Sep 30, 2020 Dec 31, 2020 Leverage1 0.9x 0.7x 2.5 Cash and cash equivalents 0.7 0.6 Current receivables from the 2.1 Siemens Group from financing 3.3 4.0 Pensions 1.0 activities Short-term and

  18. Slide 18: SHS loan maturity profile

    SHS loan maturity profile SHS loans with Siemens Group as of 31.12.20201 (in €m) Comments 1,856 ▪ Total loan volume ~€5 bn equivalent Other 85 ▪ Average interest rate ~0.7%3 EUR USD 1,5142 1,000 Top 5 loans 807 Volume Interest 6672 Currency Volume Maturity in € rate USD $1,689 €1,5142 0.26%2 FY 2027

  19. Slide 19: Funded status unchanged

    Funded status unchanged Q1 FY2021 Key financials – Pensions and similar obligations Q1 in €bn1 FY2018 FY2019 FY2020 FY2021 Defined benefit obligation (DBO) (3.4) (3.8) (3.8) (3.9) Fair value of plan assets 2.6 2.8 2.8 2.9 Provisions for pensions and similar (0.8) (1.0) (1.0) (1.1) obligations2 Disco

  20. Slide 20: Q1 FY2021 Unrestricted © Siemens Healthineers AG, 2021 l 20

    Q1 FY2021 Unrestricted © Siemens Healthineers AG, 2021 l 20

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