Q3 2025 Siemens Healthineers AG Earnings Call Transcript
Key Points
- Siemens Healthineers AG (SMMNY) reported a 7.6% growth in Q3 2025, surpassing their growth target for the full year.
- Adjusted EPS grew significantly by 23% to EUR0.64 per share, driven by strong margin expansion.
- The company raised its outlook for fiscal year 2025, increasing the midpoints of the ranges for comparable revenue growth and adjusted earnings per share.
- Imaging segment showed impressive revenue growth of almost 12% with margins improving to a strong 21%, despite tariff headwinds.
- Free cash flow was strong, bringing the leverage factor below 3 times for the first time since the Varian acquisition.
- Tariffs constituted a roughly EUR100 million headwind in the quarter, with expectations of a EUR200 million to EUR250 million impact on pretax profit for the fiscal year.
- Revenue in China remained stagnant around EUR620 million, with no indication of a sustained market recovery.
- Advanced Therapies segment experienced softer margins due to tariff impacts and foreign exchange headwinds.
- Diagnostics segment faced a slightly declining revenue line due to volume-based procurement impacts in China.
- The company anticipates a significant tariff impact of EUR400 million to EUR500 million for fiscal year 2026, posing a challenge for margin expansion.
Good morning, ladies and gentlemen, and welcome to Siemens Healthineers conference call. As a reminder, this conference is being recorded.
Before we begin, I would like to draw your attention to the safe harbor statement on page 2 of the Siemens Healthineers presentation. This conference call may include forward-looking statements. These statements are based on the company's current expectations and certain assumptions and are, therefore, subject to certain risks and uncertainties.
At this time, I would like to turn the call over to your host today, Mr. Marc Koebernick, Head of Investor Relations. Please go ahead, sir.
Thank you, operator. Good morning, and welcome to our Q3 2025 earnings call. It's great that you are tuning in again today. At 7 AM, we published our Q3 '25 results. Since then, all the related materials for today's results release are available on the IR section of the Healthineers web page.
In a moment, our CEO, Bernd Montag; and our CFO, Jochen
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