“While the environment remains tough, our synergetic core of Imaging and Precision Therapy is on track with good momentum. We are also taking measures for the future of the company by initiating the next steps to create options for Diagnostics and introducing an evolution of the leadership team,” said CEO, Bernd Montag, as Siemens Healthineers AG reported its financial results for the second quarter of fiscal year 2026 and revised its full-year outlook.
The medtech major delivered overall comparable revenue growth of 3.1 per cent during the quarter, supported by continued strength in its Imaging and Precision Therapy businesses, although performance was weighed down by ongoing challenges in its Diagnostics segment.
The company reported an adjusted EBIT margin of 14.7 per cent, impacted by tariffs and currency effects, while adjusted basic earnings per share came in at €0.53, nearly in line with the prior-year period.
Free cash flow for the quarter stood at €389 million.
A key operational indicator, the equipment book-to-bill ratio, was recorded at 1.02, signalling stable order momentum.
The Imaging business remained a strong growth driver, delivering comparable revenue growth of 6.1 per cent and an adjusted EBIT margin of 22.4 per cent.
Precision Therapy also posted solid results, with comparable revenue increasing 4.7 per cent and adjusted EBIT margin reaching 13.3 per cent.
However, the Diagnostics business continued to face pressure, with comparable revenue declining 6.5 per cent.
The company attributed the decline primarily to structural changes in the Chinese diagnostics market environment.
Adjusted EBIT margin for the segment stood at 0.9 per cent.
Reflecting these headwinds, Siemens Healthineers has lowered its fiscal year 2026 guidance.
The company now expects comparable revenue growth of between 4.5 per cent and 5.0 per cent for FY26, compared with its earlier projection of 5 per cent to 6 per cent.
Adjusted basic earnings per share are now expected to range between €2.20 and €2.30, revised from the previous guidance of €2.20 to €2.40.
The revised outlook reflects the structural market shift in China’s diagnostics sector as well as more pronounced inflation assumptions during the quarter.
Despite the revised guidance, Siemens Healthineers highlighted continued momentum in its core growth engines and ongoing strategic measures aimed at strengthening future performance.
The company said it is taking steps to create strategic options for its Diagnostics business while evolving its leadership structure to position itself for long-term growth in an increasingly complex global healthcare market.
