Siemens Healthineers misses Q3 forecasts due to slow China
Writes through with shares, CEO and CFO comments from call
By Marleen Kaesebier and Louis van Boxel-Woolf
July 31 (Reuters) -German medical technology company Siemens Healthineers SHLG.DE said on Wednesday its sales were hit by continued order delays in China in the third quarter, sending its shares more than 6% lower.
Healthcare technology companies are grappling with China's anti-corruption campaign that has made promotional and sales activities harder in the country.
Siemens Healthineers reported a revenue of 5.42 billion euros ($5.87 billion) for the third quarter, while analysts had expected 5.54 billion on average in a poll by Vara Research.
Revenue grew across its other markets, but declined 13% on a comparable basis in China due to temporary delays in orders, it said.
Dutch Peer Philips PHG.AS also reported lower half-year sales in China on Monday, citing the anti-corruption campaign.
Siemens Healthineers' CEO Bernd Montag said on a call that he expected the orders delayed by the campaign to materialise as soon as 2025.
"Structural demand in China is completely intact," Montag said, adding business in the country should stabilise in the fourth quarter.
The company expects more orders for its CT and MRI products from Chinese hospitals and healthcare facilities over the next fiscal year, he said.
It said it had seen signs of China preparing a government stimulus programme to boost investments in the healthcare system, which should help med-tech companies once implemented.
"The question remains when will China improve," Jefferies analysts said in a note, adding an improvement from here would be critical to back the 2025 estimates.
Sales in the group's Medical Imaging unit, which makes up about 55% of its revenue, declined by a low double-digit percentage in China, it said.
The company lowered its revenue outlook for the unit, expecting it to grow by 4.5% to 5.5% this year, compared with the previous forecast of 6% to 8%.
On the group level, annual sales growth is expected to come at the lower end of the guidance range of 4.5% to 6.5%, CFO Jochen Schmitz said during the call.
($1 = 0.9239 euros)
Reporting by Marleen Kaesebier and Louis van Boxel-Woolf in Gdansk and Alexander Hübner in Munich; Editing by Milla Nissi
免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。