Strong performance in its Varian and Diagnostics business segments propelled Siemens Healthineers to 7% comparable revenue growth in its third quarter.
For the period (end-June 30), Siemens had 5.423 million euros ($5.87 billion U.S.), up 4.3% from the 5.201 billion euros ($5.63 billion) generated in the third quarter of 2023. The company had third-quarter net income of 472 million ($510.9 million) in net income, compared with net income of 451 million euros ($488.2 million) a year ago.
Following on sharp revenue growth in the third quarter of 2023, the vendor’s imaging segment produced 2.977 million euros ($3.22 billion) in adjusted revenue in the 2024 third quarter, representing 4% growth and 3.8% comparable sales growth compared with 2.863 billion euros ($3.1 billion U.S.) a year ago. Molecular imaging sales led the way.
Significant comparable sales growth was achieved in the Americas region, while the Europe, Middle East, and Africa (EMEA) region also produced strong growth, according to the vendor. Revenue growth dipped slightly, however, in the Asia-Pacific Japan region and declined in China by a low double-digit percentage rate.
Siemens’ Imaging segment produced adjusted earnings before interest and taxes (EBIT) of 594 million euros ($643 million), down from 628 million euros ($679.8 million) in the third quarter of 2023.
The company’s Varian radiation therapy segment had 927 million euros ($1.003 billion) in adjusted revenues, up 10.4% and up 9.6% on a comparable basis from the 840 million euros ($909.3 million) in the same period last year.
Siemens highlighted the “very sharp” performance of Varian in the Americas region, “very strong” performance of the EMEA region, and “strong” performance of the Asia Pacific Japan region. Temporarily delayed customer orders led to a mid-double-digit percentage decline in China, however.
Adjusted EBIT was 154 million euros ($166.7 million), up from 102 million euros ($110.4 million) in the third quarter of 2023.
