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Siemens Healthineers raises 2022 outlook on demand for COVID-19 tests

Reuters
·1-min read

BERLIN (Reuters) - U.S.-German medical device maker Siemens Healthineers raised its 2022 targets on Wednesday due to increased demand for rapid COVID-19 antigen tests, and reported a rise in first-quarter revenue and earnings.

The company said it now expected its diagnostics segment to generate around 1.3 billion euros ($1.37 billion) in revenue with rapid COVID-19 antigen tests, up from some 700 million euros previously.

As a result, it expected comparable revenue growth of between 5.5% and 7.5%, up from 3% to 5% previously, and adjusted basic earnings per share of between 2.25 and 2.35 euros, up from 2.18 to 2.30 euros previously.

"Our business continues to show great resilience in the face of unprecedented challenges. On this foundation, and thanks to high demand for our rapid antigen tests, we are raising our outlook for the current financial year," CEO Bernd Montag said.

($1 = 0.9510 euros)

(Writing by Paul Carrel, Editing by Miranda Murray)