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Siemens Healthineers (SHL) investor relations material
Siemens Healthineers Pre-close call summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 pre-close call summarizes key topics and macro factors ahead of the silent period, with no actual Q2 results disclosed as the quarter ends March 31st.
Trading performance and revenue trends
Translational FX headwinds expected to exceed the 5% seen in Q1, driven by a weaker U.S. dollar compared to last year.
Group revenue growth in Q2 anticipated to be below the 5%-6% outlook range.
Imaging and Precision Therapy segments expected to grow at mid-single and mid- to high-single digits, respectively.
Diagnostics segment faces pronounced revenue decline in Q2 due to tough comps and ongoing market challenges in China.
Profitability and margins
FX and tariff headwinds projected to reduce adjusted EBIT by EUR 200-250 million and EUR 400 million, respectively, in fiscal 2026.
Margins in all segments expected to be below prior year quarter, with Imaging and Precision Therapy most affected.
Precision Therapy margin to decline year-over-year and quarter-over-quarter due to tariffs, FX, and absence of prior special items.
Diagnostics margin to improve sequentially but decline year-over-year due to revenue drop and tariff headwinds.
- Strong Q1 growth, innovation in CT, and resilient outlook despite China and tariff headwinds.SHL
Status update19 Feb 2026 - Strong Q3 growth and raised outlook, with tariffs and innovation shaping 2026 prospects.SHL
Status update19 Feb 2026 - Solid growth and strong order intake continue, with tariff headwinds to be fully mitigated.SHL
Status update19 Feb 2026 - EPS guidance widened on tariff impacts, but strong growth and innovation continue.SHL
Status update19 Feb 2026 - Strong Q4 results, robust 2025 outlook, and innovation in photon counting drive growth.SHL
Status update19 Feb 2026 - Confirmed 2024 outlook with resilient growth, margin expansion, and optimism for China recovery.SHL
Status update19 Feb 2026 - Strong Imaging and Precision Therapy growth offsets Diagnostics' China-driven decline; H2 outlook positive.SHL
Status update19 Feb 2026 - Q2 growth seen near 5% with margin expansion, despite currency and tariff risks.SHL
Pre-Close Call13 Feb 2026 - Strong Q2 growth and margins, but EPS guidance widened amid tariff and trade risks.SHL
Q2 202510 Feb 2026
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