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Press release

Siemens Healthineers starts fiscal year with strong margin despite tariff and currency pressure

Siemens Healthineers AG today announces its results for the first quarter of fiscal year 2026 ended December 31, 2025. 
Published on February 5, 2026

Q1 Fiscal Year 2026

  • Very good equipment book-to-bill ratio of 1.12
  • Imaging comparable revenue growth of 5.7%; adjusted EBIT margin of 21.6%
  • Precision Therapy comparable revenue growth of 5.9%; adjusted EBIT margin of 14.9%
  • Diagnostics comparable revenue decline of 3.1% mainly due to a structural change in the China region market environment; adjusted EBIT margin of 2.1%
  • Overall comparable revenue growth of 3.8%
  • Adjusted EBIT margin of 15.0%, on prior-year level
  • Adjusted basic earnings per share of €0.49, almost at prior-year level despite tariff and currency effects
  • Free cash flow of €330 million

Outlook for Fiscal Year 2026

We confirm our expectation of comparable revenue growth of between 5% to 6% compared with fiscal year 2025 and adjusted basic earnings per share to be between €2.20 and €2.40.

Bernd Montag, CEO of Siemens Healthineers AG:

”We had a very good start, with higher profit and profitability in our Imaging and Precision Therapy core despite significant headwinds from foreign-exchange rates and tariffs. Diagnostics continues to feel the effects of a transition phase in the Chinese market.“

Download Quarterly Statement(pdf, 223.13 KB)

Siemens Healthineers 2026

Siemens Healthineers pioneers breakthroughs in healthcare. For everyone. Everywhere. Sustainably. The company is a global provider of healthcare equipment, solutions and services, with activities in more than 180 countries and direct representation in more than 70. The group comprises Siemens Healthineers AG, listed as SHL in Frankfurt, Germany, and its subsidiaries. As a leading medical technology company, Siemens Healthineers is committed to improving access to healthcare for underserved communities worldwide and is striving to overcome the most threatening diseases. The company is principally active in the areas of imaging, diagnostics, cancer care and minimally invasive therapies, augmented by digital technology and artificial intelligence. In fiscal 2025, which ended on September 30, 2025, Siemens Healthineers had approximately 74,000 employees worldwide and generated revenue of around €23.4 billion. Further information is available at siemens-healthineers.com.