Forecast raisedSiemens earns significantly more
In the past second quarter of fiscal year 2023, Siemens almost tripled its profit compared to the same period of the previous year.
Siemens Healthineers recorded a 14% decline in order intake compared to the same quarter of the previous year. This is attributable to the sharp decline in demand for rapid coronavirus antigen tests in the Diagnostics business, which also recorded charges of €77 million (excluding personnel restructuring) in connection with its transformation program. In contrast, the division recorded sales growth in the Varian, Imaging and Advanced Therapies businesses. However, this was not enough to have a positive impact on earnings: Earnings fell from 875 million euros (Q2/22) to 288 million euros (Q2/23). Profitability was also impacted by impairment losses and other charges totaling EUR 329 million. The charges are attributable to a management decision to realign certain activities in the Advanced Therapies business as well as cost increases, particularly in procurement and logistics.