Siemens Healthineers Ag · XETR:SHL

Siemens Healthineers — Q3 FY2024 Earnings Presentation

20 slides from Siemens Healthineers's earnings presentation, Jul 31, 2024

1. Slide 1: Q3 Analyst Call

   Q3 Analyst Call Bernd Montag, CEO | Jochen Schmitz, CFO Jul 31, 2024 Q3 FY2024 Unrestricted © Siemens Healthineers AG, 2024 l 1

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: Outlook confirmed despite China still impacting growth

   Outlook confirmed despite China still impacting growth Strong margin expansion in Varian and DX drives adjusted EPS • Revenue growth at 4% on tough comps (PYQ: 10% ex antigen) • Adjusted basic EPS at €0.52 supported by y-o-y margin expansion • Outlook confirmed • Further expansion of strong backlog

4. Slide 4: Sustaining growth from multiple sources

   Sustaining growth from multiple sources Expanding access to healthcare for billions of people Innovating continuously for better diagnosis and treatment The world innovates for us Enabling efficient operations to Novel drugs New theranostic agents improve productivity Robotic treatments More sophist

5. Slide 5: Our sources of value creation

   Our sources of value creation Leveraging the power of our unique, Crystalizing full potential of synergistic portfolio and capabilities growth and profitability Winning together Transforming to win Imaging, Varian, Advanced Therapies Diagnostics Creating value Q3 FY2024 Unrestricted © Siemens Health

6. Slide 6: Fast adoption of novel procedures propels growth of Molecular Imaging

   Fast adoption of novel procedures propels growth of Molecular Imaging Theranostics rapidly expanding Broadest portfolio in the market Novel technique to identify and treat cancers New Biograph Trinion – ultra-fast time Rapid growth in use for prostate cancer (with of flight1, AI-powered workflow, PS

7. Slide 7: Diagnostics transformation well on track

   Diagnostics transformation well on track Transformation measures Transformation program as solid basis for well on track Diagnostics margin expansion Diagnostics adj. EBIT margin Portfolio simplification following CI Analyzer launch finalizing platform reduction Leaner organization and footprint wit

8. Slide 8: Core-lab platform completion: Atellica systems

   With our core-lab platform completion we are in prime position to address market needs With Atellica systems, our goal is simple: Laying the foundation to win do less. • Newest platform in market for small to Atellica mega volume laboratories Solution stress less. • Highly competitive menu at >200 a

9. Slide 9: Revenue growth at 4% on tough comps, China still declining y-o-y

   Revenue growth at 4% on tough comps, China still declining y-o-y Strong margin expansion y-o-y despite FX headwind Revenue (€m) Adjusted basic earnings per share (€) Comparable PYQ1: PYQ1: -4% +4.3% Y-o-y Growth +10% +66% 5,201 5,423 0.55 0.52 Q3 FY2023 Q3 FY2024 Q3 FY2023 Q3 FY2024 • Revenue growth

10. Slide 10: Imaging Q3 on very tough comps, margin with FX headwinds

    Imaging Q3 on very tough comps, margin with FX headwinds Leveraging the power of our unique, Imaging (€m) synergistic portfolio and capabilities Revenue Adj. EBIT (margin) Winning together Comparable +3.8% Margin -190 bps Growth Y-o-Y 628 594 2,863 2,977 (21.9%) (20.0%) Q3 FY2023 Q3 FY2024 Q3 FY2023

11. Slide 11: Varian with very strong revenue growth and margin expansion; Advanced Therapies flat

    Varian with very strong revenue growth and margin expansion Advanced Therapies with flat revenue on very tough comps Varian (€m) Advanced Therapies (€m) Revenue Adj. EBIT (margin) Revenue Adj. EBIT (margin) Comparable Margin Comparable Margin Growth 9.6% Y-o-Y +450 bps Growth +0.4% Y-o-Y -140 bps 15

12. Slide 12: Diagnostics transformation well on track

    Diagnostics transformation well on track Diagnostics (€m) Revenue Adj. EBIT (margin) Transforming to win Comparable +2.1% Margin +690 bps Growth Y-o-Y 82 1,091 1,107 (7.4%) 6 Q3 FY2023 Q3 FY2024 (0.5%) Q3 FY2023 Q3 FY2024 • Solid revenue growth at 2%1 • Y-o-y margin expansion mainly driven by operat

13. Slide 13: Outlook 2024 confirmed

    Outlook 2024 confirmed Siemens Healthineers 2023 2024E Comp. revenue growth 1.2% 4.5% to 6.5% Comp. revenue growth, ex antigen 8.3% 5.0% to 7.0% Adj. basic EPS (€) 2.14 2.10 to 2.30 Main assumptions Comp. revenue growth 2023 2024E Adj. EBIT margin 2023 2024E Imaging 10.9% 4.5% to 5.5%1 Imaging 21.8%

14. Slide 14: Appendix

    Appendix Q3 FY2024 Unrestricted © Siemens Healthineers AG, 2024 l 14

15. Slide 15: EBIT to Free Cash Flow Bridge and cash conversion rates

    EBIT to Free Cash Flow Bridge and cash conversion rates Q3 FY24 Siemens Healthineers EBIT to Free Cash Flow (€m) Imaging 1.0 CCR2 Diagnostics >0 Varian 1.2 Adv. Therapies 1.2 CCR1 1.01 1″019 974′ -79′ 80′ -133′ 177′ 48′ 775′ 199′ 786′ 680′ -185′ 95′ -48′ 546′ -288′ Healthineers PPA EBIT excl. Depr.

16. Slide 16: Loan maturity profile

    Loan maturity profile Loans with Siemens Group as of Jun 30th, 2024 (in €m) Comments Other ▪ Total loan volume ~€14bn equivalent EUR ▪ Average interest rate ~2.12% p.a.3 USD Top 10 loans ranked in € volume Notional Volume Volume Interest 1,756 Maturity Currency in m in €m rate 300 1,5142 1,539 USD $

17. Slide 17: FY24 balance sheet and net debt bridge

    FY24 balance sheet and net debt bridge Net debt overview Capital structure development in FY24 (in €bn) in €bn Sep 30, 2023 June 30, 2024 Leverage1 3.7x 3.6x 13.7 14.4 Cash and cash equivalents3 2.2 2.1 0,6 Pensions 0.5 Short-term and long-term 1.6 (0.6) (0.7) -1.4 financial debt 0.5 Liabilities to

18. Slide 18: Provisions for pensions

    Provisions for pensions Q3 FY2024 Key financials – Pensions and similar obligations Q1 Q2 Q3 in €bn1 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2024 FY2024 Defined benefit (3.4) (3.8) (3.8) (4.1) (3.3) (3.2) (3.5) (3.4) (3.4) obligation (DBO) Fair value of 2.6 2.8 2.8 3.3 2.8 2.8 2.9 3.0 3.0

19. Slide 19: Glossary

    Glossary ‘Revenue’ in this presentation refers for segments to ‘Adjusted revenue‘ 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 allocatio

20. Slide 20: Q3 FY2024 Unrestricted © Siemens Healthineers AG, 2024 l 20

    Q3 FY2024 Unrestricted © Siemens Healthineers AG, 2024 l 20

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