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Siemens Healthineers ups 2022 targets after Q1 beat thanks to COVID test demand

Siemens Healthineers ups 2022 targets after Q1 beat thanks to COVID test demand
Siemens Healthineers ups 2022 targets after Q1 beat thanks to COVID test demand   -   Copyright  Thomson Reuters 2022
By Reuters

BERLIN – U.S.-German medical device maker Siemens Healthineers raised 2022 targets as it beat quarterly sales and profit expectations on Thursday thanks to increased demand for rapid COVID-19 antigen tests and approval for its tests in the United States.

The company said it expects 2022 comparable revenue growth between 3% and 5% and adjusted basic earnings per share between 2.18 and 2.30 euros ($2.46-$2.60), compared to its previous outlook for ranges of 0%-2% and 2.08-2.20 euros, respectively.

Siemens Healthineers said its first-quarter revenue rose 31% to 5.07 billion euros, and adjusted earnings before interest and taxes (EBIT) rose 22% to 898 million euros.

Analysts polled by Refinitiv had on average expected a turnover of 4.87 billion euros and an EBIT of 774 million euros.

($1 = 0.8850 euros)