Siemens Healthineers (SHL) investor relations material

Strategic direction and business model

• Focus on four major non-communicable diseases: neurodegenerative, cardiovascular, stroke, and cancer, leveraging strengths in imaging, precision therapy, and healthcare AI, with a new strategic phase of 'Elevating Health Globally.'

• Diagnostics business granted more autonomy, with transformation and Atellica platform driving innovation and margin expansion.

• Value partnerships and value programs are key growth drivers, with a €6bn order backlog and expansion in emerging markets and large healthcare systems.

• No major M&A in consumables/devices or radiopharmaceutical IP planned; focus remains on partnerships, core strengths, and disciplined tuck-in acquisitions.

• New reporting structure introduces the 'Precision Therapy' segment, aligning with strategic focus areas.

Financial guidance and performance

• FY25 revenue reached €23.4bn with adjusted EBIT of €3.9bn and a 16.5% margin; Imaging contributed €12.1bn, Diagnostics €4.3bn, and Precision Therapy €6.8bn.

• Achieved ~11% adjusted EPS growth and ~6.5% revenue growth from 2022-2025, with significant margin improvements in Diagnostics.

• FY26 guidance: revenue growth of 5–6% and adjusted EPS of €2.20–2.40, with a transition year before returning to double-digit EPS growth by 2030.

• Midterm (2027-2030) group revenue growth targeted at 5%-7% CAGR, with Imaging and Precision Therapy segments to grow 6%-9% annually, Diagnostics mid-single digit growth, and double-digit group EPS growth.

• High share of recurring revenues (~50% in Imaging/Precision Therapy, ~90% in Diagnostics) supports reliable cash flow and dividend continuity.

Innovation, technology, and operational excellence

• Continued investment in R&D (8%-9% of revenue or €2bn+ p.a.), with over 1,300 AI-related patent families and 13,000 R&D employees.

• Pioneering photon-counting CT, helium-free MRI, and AI-driven automation, reducing workflow and reporting times by over 50%.

• Healthcare AI is deeply integrated, with a global AI factory, large-scale data infrastructure, and over 100 AI-powered medical devices approved in the U.S.

• AI-enabled products (e.g., Deep Resolve, auto-contouring, smart scheduling) are commercialized as options or embedded features, driving differentiation and new revenue streams.

• Atellica franchise in Diagnostics drives margin expansion and platform evolution, with >40% installed base growth and >300 modular configurations.