In what could be one of its last financial reports as part of parent company Siemens AG, Siemens Healthineers reported rising profitability on essentially flat revenue in the first quarter of fiscal 2017.
For the period, Siemens Healthineers reported revenues of 3.28 billion euros, basically even with revenues of 3.28 billion euros in the first quarter of fiscal 2016. The health division's profit grew to 620 million euros in the first quarter of 2017, compared with a profit of 541 million euros in the same period of 2016. The division's profit margin for the quarter grew to 18.9% compared with 16.5% the year before.
The division reported that moderate order growth was driven by its diagnostic imaging business, with clear growth in Asia including China as well as Australia. Orders for the quarter came in at 3.45 billion euros, up 4% after currency adjustments compared with 3.35 billion euros in the first quarter of 2016.
Siemens is moving to spin off Siemens Healthineers as a separate company; published reports have stated that it will be accepting bids from investment banks for participation in the spin-off as early as April.
