Siemens Healthineers saw strong growth in its Imaging business in the third quarter of fiscal 2018, but the division's financial performance was affected by unfavorable currency exchange rates.
For the quarter (end-30 June), the Imaging unit posted total revenue of 1.976 billion euros, representing growth of 3% after currency adjustment compared with revenues of 1.923 billion euros in the third quarter of fiscal 2017. After currency adjustment, the company would have had revenue growth of 8%, the company reported.
The Imaging group's profit was 333 million euros, compared with 346 million euros in the corresponding quarter of 2017. It's profit margin also fell, however, to 16.8% from 18.0% the same quarter the year before.
The business saw growth driven by its molecular imaging, x-ray products, and MRI divisions. On a regional basis, growth was strong globally, particularly in the U.S. and Germany, the company noted.
