Siemens Healthineers raises sales & profit outlook, sees heightened demand for its rapid antigen tests

On Monday, Siemens Healthineers raised its full-year sales and profit forecast on the back of heightened demand for rapid antigen tests coming from the Wuhan Coronavirus-induced COVID-19 pandemic.

The German health technology company expects its sales to grow by 14% to 17% in the year up to September, up from a previous forecast for 8% to 12% rise. Adjusted basic earnings per share are seen at 1.90 euros to 2.05 euros versus an earlier forecast of 1.63 euros to 1.82 euros.

The improvement in the outlook stems from booming demand for its COVID-19 rapid tests, which are mostly sold within the country and generated sales of $228 million (190 million euros) during the second quarter itself.

In a statement, Siemens Healthineers said, it expects revenues from rapid antigen tests to be around 750 million euros for its full fiscal year, up from 300 million to 350 million from its earlier forecast.

In a statement, Healthineers said sales in its imaging business were up by 7%, driven by double-digit growth in its X-ray products and computed tomography sections.

Siemens Healthineers aims to be a world leader in cancer care therapy following its $16.4 billion acquisition of U.S. peer Varian, which it completed last month. ($1 = 0.8319 euros)



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