Siemens Healthineers Ag · XETR:SHL

Siemens Healthineers — Q1 2018 Earnings Presentation

14 slides from Siemens Healthineers's earnings presentation, Feb 1, 2018

  1. Slide 1: Siemens Healthineers: Shaping the future of healthcare

    Q1 FY 2018 Siemens Healthineers: Shaping the future of healthcare Page 0 | Unrestricted © Siemens Healthcare GmbH, 2018

  2. Slide 2: Notes and forward looking statements

    Notes and forward looking statements This presentation has been prepared solely for use at this meeting. By attending the meeting where this presentation is made or accessing this presentation, you agree to be bound by the following limitations. This material is given in conjunction with an oral pre

  3. Slide 3: Q1 2018 – Fully in line with expectations

    Q1 2018 – Fully in line with expectations • Comparable revenue up more than 2% driven by Imaging & Advanced Therapies • Strong growth especially in EMEA and China • Excellent operational performance at Imaging and Advanced Therapies • As expected, performance at Diagnostics impacted by transition to

  4. Slide 4: Solid performance in Q1 2018

    Solid performance in Q1 2018 Revenue (€m) Adj. Profit1) (€m) Adj. net income1) (€m) Comparable +2.3% Margin 19.3% 17.1% growth 3,327 3,198 642 547 397 352 Q1 FY 2017 Q1 FY 2018 Q1 FY 2017 Q1 FY 2018 Q1 FY 2017 Q1 FY 2018 • Strong comparable growth in Advanced • Margin decrease significantly driven b

  5. Slide 5: Strong Advanced Therapies and Imaging business

    Strong Advanced Therapies and Imaging business Imaging Diagnostics Advanced Therapies Comparable growth +3.8% ‐1.1% +8.5% Total revenue (€m) 1,983 1,943 1,007 929 361 368 Q1 FY 2017 Q1 FY 2018 Q1 FY 2017 Q1 FY 2018 Q1 FY 2017 Q1 FY 2018 Margin (%) 21.1% 19.5% 14.1% 10.9% 24.7% 22.4% Adj. Profit1) (€

  6. Slide 6: 2018 guidance reaffirmed

    2018 guidance reaffirmed 2017 (IFRS 15) 2018E Comments on 2018E Revenue (€m) 13,677 slightly down • Comparable revenue growth on a q‐o‐q basis can fluctuate significantly • Significant FX headwinds in 2018E expected resulting in slightly decreasing 3.8%1) 3‐4% reported revenue Comparable growth (%)

  7. Slide 7: Appendix

    Appendix Page 6 | Unrestricted © Siemens Healthcare GmbH, 2018

  8. Slide 8: Detailed P&L statement

    Detailed P&L statement Position (€m) Q1 FY 2017 Q1 FY 2018 Revenue 3,327 3,198 Cost of sales (1,913) (1,870) Gross profit 1,414 1,328 Research and development expenses (294) (306) Selling and general administrative expenses (536) (538) Other operating income 1 16 Other operating expenses (4) (11) In

  9. Slide 9: Reported to adjusted net income reconciliation

    Reported to adjusted net income reconciliation Position (€m) Q1 FY 2017 Q1 FY 2018 Reported net income 361 310 Effective tax rate 30.7% 26.4% Severance (pre‐tax) 11 15 Severance tax impact at effective tax rate (3) (4) IPO costs (pre‐tax) ‐ 8 IPO costs impact at effective tax rate ‐ (2) PPA (pre‐tax

  10. Slide 10: Income before income taxes to adjusted EBITDA reconciliation

    Income before income taxes to adjusted EBITDA reconciliation Position (€m) Q1 FY 2017 Q1 FY 2018 Income before income taxes 521 421 Financial income (expenses), net 63 70 Financial income part of operations1) 7 (0) PPA amortization 41 33 Siemens Healthineers Profit 631 524 Reversal of financial inco

  11. Slide 11: Overview of severance and IPO costs by segment

    Overview of severance and IPO costs by segment Position (€m) Q1 FY 2017 Q1 FY 2018 Severance (Group) 11 15 Imaging 2 8 Diagnostics 7 3 Advanced Therapies 0 0 Central and Reconciliation 2 4 IPO costs (Group) 0 8 Imaging 0 0 Diagnostics 0 0 Advanced Therapies 0 0 Central and Reconciliation 0 8 Page 10

  12. Slide 12: Detailed balance sheet

    Detailed balance sheet Assets Liabilities and equity Position (€m) Q4 FY 2017 Q1 FY 2018 Position (€m) Q4 FY 2017Q1 FY 2018 Cash and cash equivalents 184 326 Short‐term debt & current maturities of long‐term debt 55 56 Trade and other receivables 2,308 2,225 Trade payables 1,120 1,070 Other current

  13. Slide 13: Detailed cash flow statement (1/2)

    Detailed cash flow statement (1/2) Position (€m) Q1 FY 2017 Q1 FY 2018 Cash flows from operating activities Net income 361 310 Adjustments to reconcile net income to cash flows from operating activities Amortization, depreciation and impairments 141 124 Income tax expenses 160 111 Interest expenses,

  14. Slide 14: Detailed cash flow statement (2/2)

    Detailed cash flow statement (2/2) Position (€m) Q1 FY 2017 Q1 FY 2018 Cash flows from financing activities Change in short‐term debt and other financing activities (7) (1) Interest paid (2) (1) Profit and loss transfers with Siemens Group ‐ ‐ Dividends paid to Siemens Group (122) (230) Dividends pa

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