Siemens Healthineers
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Siemens Healthineers (SHL) investor relations material

Siemens Healthineers Status update summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Status update summary18 Feb, 2026

Q1 2026 financial performance highlights

  • Imaging and Precision Therapy revenue grew 6% with strong margins, maintaining a 15% EBIT margin despite tariff and FX headwinds.

  • Equipment book-to-bill ratio was 1.12, indicating robust demand.

  • Moody's awarded a strong investment grade rating.

  • Diagnostics revenue declined 3.1%, with margin at 2.1% due to structural changes in China.

Diagnostics segment challenges and outlook

  • Diagnostics faced headwinds from volume-based procurement and reimbursement cuts in China, plus unfavorable sales mix.

  • Major distribution and OEM partners in China ordered below expectations, with no catch-up expected.

  • Second half expected to improve with OEM volume recovery, core lab growth, and cost reductions from ongoing transformation.

  • Nearly 70% of core lab revenues now come from Atellica, with strong instrument deliveries and a major win in Brazil.

  • Strategic flexibility for Diagnostics remains intact, with further updates likely this year.

Imaging and Precision Therapy segment performance

  • Imaging and Precision Therapy, representing 80% of group revenue, outperformed expectations.

  • Imaging saw margin expansion despite 250bps headwinds from tariffs and FX, driven by photon-counting CT and radiopharmaceuticals.

  • Radiopharmaceuticals expected to reach $1 billion in revenue, with unique margin structure.

  • Precision Therapy grew nearly 6%, with Varian posting 9% growth and strong profitability.

Update on Diagnostics segment strategic steps
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Frequently asked questions

Siemens Healthineers offers an extensive portfolio of products and solutions for the improvement of patient care. Products include Magnetic Resonance Imaging systems, computed tomography systems, integrated PET-CT scanners, magnetic resonance angiography systems, MR probes, MR signal analyzers and other hardware products for imaging. Siemens Healthineers also provides its products with integrated workflow solutions ranging from advanced imaging software to comprehensive workflow management solutions in a seamless integrated platform. The company is headquartered in Erlangen, Germany.

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