Siemens Healthineers, Medical Imaging, Q4/3 2019 Sales Results

Siemens Healthineers AG, the German-based healthcare company, announced it’s consolidated financial results earlier today for its fourth fiscal quarter 2019, which ended September 30th. These results include reporting on its medical imaging business unit, which offers diagnostic imaging products and a broad portfolio of advanced imaging and ultrasound solutions. The results show that sales revenue continued to grow and accelerated during the fourth fiscal quarter. The sales revenue from medical imaging reached €2.59 billion, compared with €2.28 billion in 2018, an increase of +13.5% year-on-year (YoY). On a calendar year-to-date basis, sales revenue reached €6.92 billion, compared with €6.21 billion in 2018, an increase of +11.4% YoY.

According to the quarterly earnings release, the sales growth throughout this year has primarily been driven by higher equipment sales of computed tomography (CT), magnetic resonance (MRI) and molecular imaging (MI) systems. Sales growth from its service business relating to these modalities has also materially contributed toward this growth. The ratio between equipment (including software) and service revenues has historically been 60:40 for the imaging business, although services are a core and growing part of Siemens Healthineers business model. Sales growth from its X-ray systems portfolio were also strong in the first calendar quarter, which includes its range of general radiography, fluoroscopy, mammography and urology imaging systems.

From a geographical perspective, the company achieved sales revenue growth across all three major regions; America’s, Asia and EMEA, with significant growth in the Americas as well as Asia and Australia and strong growth in EMEA.

The historical segmentation of external sales revenue for FY 2017, segmented by the location of customers as well as imaging modality are presented below.

Source: IPO Prospectus

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