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Siemens Healthineers raises 2022 outlook on demand for COVID-19 tests

Siemens Healthineers raises 2022 outlook on demand for COVID-19 tests
Siemens Healthineers raises 2022 outlook on demand for COVID-19 tests   -   Copyright  Thomson Reuters 2022
By Reuters

(Corrects to show revenue rose in second quarter, not first quarter, of 2022 financial year in paragraph 1)

BERLIN – U.S.-German medical device maker Siemens Healthineers raised its targets for the 2022 financial year on Wednesday due to increased demand for rapid COVID-19 antigen tests, and reported a rise in second-quarter revenue and earnings.

The company said it now expected its diagnostics segment to generate around 1.3 billion euros ($1.37 billion) in revenue with rapid COVID-19 antigen tests, up from some 700 million euros previously.

As a result, it expected comparable revenue growth of between 5.5% and 7.5%, up from 3% to 5% previously, and adjusted basic earnings per share of between 2.25 and 2.35 euros, up from 2.18 to 2.30 euros previously.

“Our business continues to show great resilience in the face of unprecedented challenges. On this foundation, and thanks to high demand for our rapid antigen tests, we are raising our outlook for the current financial year,” CEO Bernd Montag said.

(Corrects to show revenue rose in second quarter, not first quarter, of 2022 financial year in paragraph 1)