Siemens Healthineers Ag · XETR:SHL

Siemens Healthineers — Q1 FY2020 Earnings Presentation

18 slides from Siemens Healthineers's earnings presentation, Feb 3, 2020

  1. Slide 1: Q1 Analyst Call

    Q1 Analyst Call Dr. Bernd Montag, CEO | Dr. Jochen Schmitz, CFO February 3, 2020

  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 in topline, outlook confirmed

    Strong start in topline, outlook confirmed • Q1 comparable1) revenue up by 5.5% driven by strong Imaging business with 6.7% and very strong Advanced Therapies with 9.5% growth • Equipment book-to-bill of 1.2 in Q1, the 7th consecutive quarter with book-to-bill >1 • Temporary dip in Q1 Imaging margin

  4. Slide 4: Our priorities

    Upgrading: driving our company to the next level of profitable growth Imaging Diagnostics Advanced Therapies Digital Workflow Procedures Continuously innovating Path to market growth and Transforming to new and expanding workflow levels of profitable making new markets leadership growth Drive share

  5. Slide 5: Executing on Upgrading: strategic segment priorities

    Executing on Upgrading: strategic segment priorities Imaging Diagnostics Advanced Therapies Digital Workflow Procedures Continuously innovating and making Path to market growth and expanding Transforming to new levels of new markets workflow leadership profitable growth • SOMATOM On.site1) • Signifi

  6. Slide 6: Executing on Upgrading: strategic company-wide priorities

    Executing on Upgrading: strategic company-wide priorities Drive share gains in growth markets China: Middle East and Africa: Double-digit equipment order growth1) in Q1 Double-digit equipment order growth1) in Q1 Drive share gains with leading providers Hamilton Health Sciences Moscow Healthcare Dep

  7. Slide 7: Strong revenue growth, adj. basic EPS down on lower adj. EBIT

    Strong revenue growth, adj. basic EPS down on lower adj. EBIT Revenue (€m) Adjusted basic earnings per share (€) Net Income 345 304 Comparable (€m) +5.5% Growth1) Y-o-Y -6% 3,587 0.38 0.35 3,301 Q1 FY2019 Q1 FY2020 Q1 FY2019 Q1 FY2020 • Revenue driven by strong growth in Imaging, solid growth in • A

  8. Slide 8: Strong topline at Imaging and Advanced Therapies, mixed margin picture in segments

    Strong topline at Imaging and Advanced Therapies, mixed margin picture in segments Imaging (€m) Diagnostics (€m) Advanced Therapies (€m) Comparable +6.7% +2.6% +9.5% Growth1) Revenue 2,021 2,221 964 1,013 355 404 Q1 FY2019 Q1 FY2020 Q1 FY2019 Q1 FY2020 Q1 FY2019 Q1 FY2020 Margin Y-o-Y -250 bps -470

  9. Slide 9: Imaging on track for FY20, margin in Q1 with a temporary dip

    Imaging on track for FY20, margin in Q1 with a temporary dip Imaging adjusted EBIT margin 19.9% 17.4% Q1 FY2019 Mix Share comp. OPEX Other Q1 FY2020 FY2020 • Negative effect in Q1 from unfavorable mix of different margin profiles in businesses, geographies and market segments; mix will normalize in

  10. Slide 10: Outlook for FY2020 confirmed

    Outlook for FY2020 confirmed Comparable revenue growth1) Adj. basic EPS growth 5 - 6% +8 to +14%2) ex acquisitions3) 5.8% +6 to +12%2) 1.70 2019 2020E 2019 2020E 1 Y-o-y on a comparable basis, excluding currency translation and portfolio effects | 2 The outlook is based on current foreign exchange r

  11. Slide 11: Appendix

    Appendix Q1 FY2020 Unrestricted © Siemens Healthineers AG, 2020 l 11

  12. Slide 12: Excellent cash generation in Q1, Advanced Therapies cash held back by Corindus transaction

    Excellent cash generation in Q1, Advanced Therapies cash held back by Corindus transaction Q1 Siemens Healthineers EBIT to Free Cash Flow Imaging 1.0 CCR1) Diagnostics <0 Adv. Therapies 0.2 CCR1) 0.87 617′ -4′ -89′ 205′ -66′ 475′ 412′ 16′ -115′ 360′ -115′ 244′ Healthineers Amort., depr. EBITDA 3) Ch

  13. Slide 13: Q1 reconciliations and KPIs for group and segments

    Q1 reconciliations and KPIs for group and segments Q1 FY2020 Q1 FY2019 Advanced Advanced Healthineers Imaging Diagnostics Healthineers Imaging Diagnostics Position (€m) Therapies Therapies Adjusted EBIT 484 386 31 78 542 402 75 70 therein adjusted for: Amortization of intangible -45 -33 assets acqui

  14. Slide 14: Q1 adjusted EBIT to net income and adj. EPS reconciliation

    Q1 adjusted EBIT to net income and adj. EPS reconciliation Position (€m) Q1 FY2020 Q1 FY2019 Adjusted EBIT 484 542 therein adjusted for: Amortization of intangibles assets acquired in business combinations -45 -33 therein adjusted for: Severance charges -17 -13 therein adjusted for: Acquisition-rela

  15. Slide 15: 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. 30th 2019 Dec. 31st 2019 Leverage1) 1.5x 1.9x 5.4 Cash and cash equivalents 0.9 0.9 1.0 Receivables from Siemens Group 0.7 0.4 4.4 (financial cash) 0.0 Pensions 1.0 1.5 Short-term and long

  16. Slide 16: SHS loan maturity profile

    SHS loan maturity profile SHS loans with Siemens Group as of 31.12.20191 (in mio €) Comments 1,866 ▪ Total loan volume ~5’’2 EUR equivalent Other 95 ▪ Average interest rate ~0.8%3 EUR ▪ Majority of maturities exceeding FY 2020 USD 1,5142 1,000 Top 5 loans 881 Volume Interest 6672 Currency Volume Mat

  17. Slide 17: Funded status unchanged

    Funded status unchanged Q1 FY2020 Key financials – Pensions and similar obligations Q1 in €bn1) FY2017 FY2018 FY2019 FY2020 Defined benefit obligation (DBO)2) (4.1) (3.4) (3.8) (3.7) Fair value of plan assets2) 2.4 2.6 2.8 2.8 Provisions for pensions and similar obligations (1.7) (0.8) (1.0) (1.0) D

  18. Slide 18: Q1 FY2020 Unrestricted © Siemens Healthineers AG, 2020 l 18

    Q1 FY2020 Unrestricted © Siemens Healthineers AG, 2020 l 18

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