Quarterly figures Q2/2022Russian sanctions depress Siemens' profits
Siemens is discontinuing its business in Russia after around 170 years. The sanctions against the country reduce profits in the second quarter by around 600 million euros.
Siemens Healthineers' 20% growth in order intake and sales growth were supported by portfolio effects resulting from the acquisition of Varian. Siemens Healthineers recorded an increase in volume in all businesses, naturally led by the Diagnostics business, which continued to record a high volume of coronavirus antigen rapid tests from the USA and other countries, thus contributing to the generally very high growth in the Americas region. However, profitability was also impacted by subsequent effects from the purchase price allocation in connection with the Varian acquisition totaling EUR 100 million as well as negative currency effects and higher procurement and logistics costs.