Siemens Healthineers ups 2022 targets after Q1 beat thanks to COVID test demand

BERLIN (Reuters) – U.S.-German medical device maker Siemens Healthineers raised 2022 targets as it beat quarterly sales and profit expectations on Thursday thanks to increased demand for rapid COVID-19 antigen tests and approval for its tests in the United States.

The company said it expects 2022 comparable revenue growth between 3% and 5% and adjusted basic earnings per share between 2.18 and 2.30 euros ($2.46-$2.60), compared to its previous outlook for ranges of 0%-2% and 2.08-2.20 euros, respectively.

Siemens Healthineers said its first-quarter revenue rose 31% to 5.07 billion euros, and adjusted earnings before interest and taxes (EBIT) rose 22% to 898 million euros.

Analysts polled by Refinitiv had on average expected a turnover of 4.87 billion euros and an EBIT of 774 million euros.

($1 = 0.8850 euros)

(Reporting by Zuzanna Szymanska; Editing by Miranda Murray)