Siemens Healthineers: shares fall after margin drop
(CercleFinance.com) - German medical technology company Siemens Healthineers posted a 12% fall in first-quarter net profit on Monday, missing expectations and sending its shares down.
By 11 am (CET), its shares were 5% lower at 40.3 euros, underperforming a 0.7% rise in the German MDAX midcap index.
The group - which makes in-vitro diagnostic and image-guided therapy systems - said revenue rose by 8.7% to 3.58 billion euros in the first quarter of fiscal year 2020 that ended 31 December 2019.
Comparable revenue growth was 5.5%, due to the strong performance of its imaging unit, which posted a 6.7% growth, it said.
However, the group's adjusted EBIT margin reached 13.5%, down from 16.4% last year, impacted by a temporary dip in the imaging division and a fall in diagnostics.
The Erlangen-based company confirmed its outlook for fiscal year 2020, saying that it still expects comparable revenue growth of 5% to 6% compared to fiscal year 2019.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
By 11 am (CET), its shares were 5% lower at 40.3 euros, underperforming a 0.7% rise in the German MDAX midcap index.
The group - which makes in-vitro diagnostic and image-guided therapy systems - said revenue rose by 8.7% to 3.58 billion euros in the first quarter of fiscal year 2020 that ended 31 December 2019.
Comparable revenue growth was 5.5%, due to the strong performance of its imaging unit, which posted a 6.7% growth, it said.
However, the group's adjusted EBIT margin reached 13.5%, down from 16.4% last year, impacted by a temporary dip in the imaging division and a fall in diagnostics.
The Erlangen-based company confirmed its outlook for fiscal year 2020, saying that it still expects comparable revenue growth of 5% to 6% compared to fiscal year 2019.
Copyright (c) 2020 CercleFinance.com. All rights reserved.