Earnings release
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Siemens Healthineers ends 2026 fiscal year with strong fourth quarter November 5, 2026 – Siemens Healthineers AG today announces its results for the fourth quarter of fiscal year 2026 ended September 30, 2026, and the full fiscal year 2026. Fiscal Year 2026 • Very good equipment book-to-bill ratio of 1.14 • Comparable revenue growth of 4.0% • Adjusted EBIT margin of 16.2%; adjusted EBIT of around €3.8 billion • Adjusted basic earnings per share of €2.42 • Free cash flow of around €2.4 billion • Proposed dividend of €1.00 per share (prior year: €1.00) Q4 Fiscal Year 2026 • Very good equipment book-to-bill ratio of 1.15 • Strong comparable revenue growth of 5.9% • Adjusted EBIT margin of 15.9% • Imaging comparable revenue growth of 10.0%; adjusted EBIT margin of 21.9% • Precision Therapy comparable revenue growth of 4.8%; adjusted EBIT margin of 13.8% • Diagnostics comparable revenue decline of 4.2%; adjusted EBIT margin of 5.4% • Adjusted basic earnings per share of €0.69 • Free cash flow of €703 million Outlook for Fiscal Year 2027 For fiscal year 2027, we expect comparable revenue growth between 4.0% and 5.0% over fiscal year 2026. For adjusted basic earnings per share, we expect a range of between €2.20 and €2.40. Bernd Montag, CEO of Siemens Healthineers AG: ”We closed out the last fiscal year with a strong fourth quarter. In this new fiscal year, we are shaping our next phase with a different shareholder structure, and enhancing corporate clarity. Our brand evolution and name will reflect who we are: Healthineers. We are sharpening our portfolio – further strengthening our core, while positioning our Diagnostics business for a successful future and initiating the carve-out process. Our ‘Elevating Health Globally’ strategy is on track, further expanding our innovation leadership with a clear focus on the most prevalent non-communicable diseases, for the benefit of 8 billion people.“
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 2 Business Development Q4 Siemens Healthineers Q4 Q4 % Change (in millions of €) 2026 2025 Act. Comp.¹ Revenue 6,784 6,322 7.3% 5.9% Adjusted EBIT² 1,077 1,098 −2.0% Adjusted EBIT margin 15.9% 17.4% Net income 599 597 0.3% Adjusted basic earnings per share³ 0.69 0.68 1.7% Basic earnings per share 0.53 0.53 0.2% Free cash flow⁴ 703 863 −18.6% 1 Year-over-year on a comparable basis, excluding currency translation and portfolio effects as well as effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. 2 Adjusted EBIT is defined as income before income taxes, interest income and expenses and other financial income, net, adjusted for expenses for portfolio-related measures, severance charges, other expenses in connection with restructuring measures within the meaning of IAS 37 and centrally carried pension service and administration expenses (only excluded from adjusted EBIT of the segments). 3 Adjusted basic earnings per share are defined as basic earnings per share, adjusted for expenses for portfolio-related measures, severance charges, and other expenses in connection with restructuring measures within the meaning of IAS 37, net of tax. 4 Free cash flow comprises the cash flows from operating activities and additions to intangible assets and property, plant and equipment included in cash flows from investing activities. Revenue rose by 5.9% on a comparable basis in the fourth quarter of fiscal year 2026 to just under €6.8 billion. Growth was attributable to very strong revenue development in the Imaging segment and strong revenue growth in the Precision Therapy segment. From a geographical perspective, the Asia Pacific Japan region achieved significant comparable revenue growth, the Americas region recorded strong revenue growth, as in the prior-year quarter, and the EMEA region showed moderate growth in revenue on a comparable basis. Revenue in the China region declined slightly. Equipment order intake clearly exceeded equipment revenue in the fourth quarter, resulting in a very good equipment book-to-bill ratio of 1.15. Adjusted EBIT in the fourth quarter was just under €1.1 billion. The adjusted EBIT margin of 15.9% was below the prior- year quarter. Contributions from revenue growth and special items related to pension plans and tariff refunds* had a positive effect. These were counteracted by negative currency effects, provisions recognized for legal and product-related risks in the Imaging segment, and unusual cost increases in all segments in specific areas. Net income was €599 million, level with the prior-year quarter. The income tax rate was 21.7%, below that of the prior- year quarter. Adjusted basic earnings per share of €0.69 were on par with the prior-year quarter. Negative currency effects were offset by higher financial income, net as well as tariff refunds, a lower income tax rate and increased foreign-currency- adjusted earnings contributions from the operating business. Free cash flow of €703 million was below the prior-year quarter. * Refunds of tariffs imposed under the U.S. International Emergency Economic Powers Act (IEEPA).
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 3 Imaging Q4 Q4 % Change (in millions of €) 2026 2025¹ Act. Comp.² Total adjusted revenue³ 3,729 3,341 11.6% 10.0% Adjusted EBIT 817 756 8.0% Adjusted EBIT margin 21.9% 22.6% 1 Prior-year figures comparable based on the segment structure effective October 1, 2025. 2 Year-over-year on a comparable basis, excluding currency translation and portfolio effects as well as effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. 3 Total adjusted revenue is defined as total revenue adjusted for effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. Neither in the current reporting period nor in the prior- year period such adjustments were made to revenue. Revenue in the Imaging segment rose by 10.0% on a comparable basis in the fourth quarter to around €3.7 billion. Computed Tomography and Molecular Imaging achieved significant revenue growth, and Magnetic Resonance very strong revenue growth. From a geographical perspective, Imaging achieved significant growth in the Americas region. Revenue in the Asia Pacific Japan and EMEA regions both showed very strong growth. The China region recorded slight growth in revenue. The segment’s adjusted EBIT margin of 21.9% was lower than in the prior-year quarter. Contributions from very strong revenue growth, as well as a special item related to pension plans, had a positive effect. This was counteracted by negative currency effects and provisions recognized for legal and product-related risks. Precision Therapy Q4 Q4 % Change (in millions of €) 2026 2025¹ Act. Comp.² Total adjusted revenue³ 1,968 1,859 5.9% 4.8% therein: Varian 1,176 1,088 8.1% 7.3% Adjusted EBIT 273 318 −14.3% therein: Varian 191 214 −11.0% Adjusted EBIT margin 13.8% 17.1% therein: Varian 16.2% 19.7% 1 Prior-year figures comparable based on the segment structure effective October 1, 2025. 2 Year-over-year on a comparable basis, excluding currency translation and portfolio effects as well as effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. 3 Total adjusted revenue is defined as total revenue adjusted for effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. Neither in the current reporting period nor in the prior- year period such adjustments were made to revenue. Revenue in the Precision Therapy segment increased by 4.8% on a comparable basis in the fourth quarter to almost €2.0 billion. This was particularly due to strong growth in Varian. Precision Therapy achieved sharp growth in the Asia Pacific Japan region after a decline in the prior-year quarter. In the China region, revenue increased very strongly. The Americas region showed moderate revenue growth after strong growth in the prior-year quarter. In EMEA, revenue declined slightly. The adjusted EBIT margin in the Precision Therapy segment was 13.8%, below the high level of the prior-year quarter. Earnings contributions from revenue development only partially offset unusual cost increases in specific areas and negative currency effects.
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 4 Diagnostics Q4 Q4 % Change (in millions of €) 2026 2025 Act. Comp.¹ Total adjusted revenue² 1,067 1,098 −2.8% −4.2% Adjusted EBIT 58 82 −29.6% Adjusted EBIT margin 5.4% 7.5% 1 Year-over-year on a comparable basis, excluding currency translation and portfolio effects as well as effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. 2 Total adjusted revenue is defined as total revenue adjusted for effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. Neither in the current reporting period nor in the prior- year period such adjustments were made to revenue. In the Diagnostics segment, revenue declined by 4.2% on a comparable basis in the fourth quarter to just under €1.1 billion in nominal terms. In the Asia Pacific Japan region, Diagnostics’ revenue increased moderately after very strong growth in the prior-year quarter, while revenue development in the EMEA region was flat and in the Americas region revenue declined moderately. The China region recorded a sharp revenue decline, mainly due to a structural change in the market environment. The segment’s adjusted EBIT margin of 5.4% was below the prior-year-quarter level. Lower earnings contributions from declining revenue had a negative effect. Continued cost reductions related to the transformation program and special items related to tariff refunds and pension plans had a positive effect.
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 5 Reconciliation to consolidated financial statements Adjusted EBIT Q4 Q4 (in millions of €) 2026 2025 Total Segments¹ 1,147 1,157 Corporate items, eliminations, other items¹ −71 −58 Adjusted EBIT 1,077 1,098 Amortization, depreciation and other effects from IFRS 3 purchase price allocation adjustments −87 −86 Transaction, integration, retention and carve-out costs −0 −25 Gains and losses from divestments ‐ ‐ Severance charges −50 −24 Other portfolio-related measures ‐ ‐ Other restructuring expenses −92 −81 Total adjustments −229 −216 EBIT 848 882 Financial income, net −83 −111 Income before income taxes 765 770 Income tax expenses −166 −174 Net income 599 597 1 Prior-year figures comparable based on the segment structure effective October 1, 2025. Basic earnings per share Q4 Q4 (in €) 2026 2025 Basic earnings per share 0.53 0.53 Amortization, depreciation and other effects from IFRS 3 purchase price allocation adjustments 0.08 0.08 Transaction, integration, retention and carve-out costs 0.00 0.02 Gains and losses from divestments ‐ ‐ Severance charges 0.04 0.02 Other portfolio-related measures ‐ ‐ Other restructuring expenses 0.08 0.07 Financial income due to portfolio related measures ‐ ‐ Tax effects on adjustments¹ −0.04 −0.04 Adjusted basic earnings per share 0.69 0.68 1 Calculated based on the income tax rate of the respective reporting period. Severance charges rose by €26 million to €50 million. The increase was mainly attributable to personnel measures related to cost-saving initiatives. Other restructuring expenses increased by €11 million to €92 million. Specifically, these included expenses related to the transformation and the preparation of the carve-out of the Diagnostics business, the planned deconsolidation by Siemens AG of its stake in Siemens Healthineers AG, as well as the focusing of the Ultrasound business on interventional imaging. Financial income, net increased by €29 million to -€83 million. Net income rose by 0.3% from the prior-year period to €599 million. The income tax rate was 21.7%, below the tax rate of 22.5% in the prior-year quarter. Adjusted basic earnings per share of €0.69 were on par with the prior-year quarter. Negative currency effects were offset by higher financial income, net as well as tariff refunds, a lower income tax rate and increased foreign-currency- adjusted earnings contributions from the operating business. Adjustments were slightly above the prior-year level.
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 6 Business Development Fiscal Year 2026 Siemens Healthineers Fiscal year Fiscal year % Change (in millions of €) 2026 2025 Act. Comp.¹ Revenue 23,630 23,375 1.1% 4.0% Adjusted EBIT² 3,823 3,855 −0.8% Adjusted EBIT margin 16.2% 16.5% Net income 2,243 2,168 3.5% Adjusted basic earnings per share³ 2.42 2.39 1.1% Basic earnings per share 1.98 1.91 3.4% Free cash flow⁴ 2,446 2,714 −9.9% 1 Year-over-year on a comparable basis, excluding currency translation and portfolio effects as well as effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. 2 Adjusted EBIT is defined as income before income taxes, interest income and expenses and other financial income, net, adjusted for expenses for portfolio-related measures, severance charges, other expenses in connection with restructuring measures within the meaning of IAS 37 and centrally carried pension service and administration expenses (only excluded from adjusted EBIT of the segments). 3 Adjusted basic earnings per share are defined as basic earnings per share, adjusted for expenses for portfolio-related measures, severance charges, and other expenses in connection with restructuring measures within the meaning of IAS 37, net of tax. 4 Free cash flow comprises the cash flows from operating activities and additions to intangible assets and property, plant and equipment included in cash flows from investing activities. Segments Fiscal year Fiscal year % Change (in millions of €) 2026 2025¹ Act. Comp.² Imaging Total adjusted revenue³ 12,506 12,084 3.5% 6.1% Adjusted EBIT 2,884 2,802 2.9% Adjusted EBIT margin 23.1% 23.2% Precision Therapy Total adjusted revenue³ 7,023 6,844 2.6% 6.1% therein: Varian 4,263 4,081 4.5% 8.3% Adjusted EBIT 1,046 1,012 3.3% therein: Varian 719 703 2.4% Adjusted EBIT margin 14.9% 14.8% therein: Varian 16.9% 17.2% Diagnostics Total adjusted revenue³ 4,029 4,347 −7.3% −4.8% Adjusted EBIT 128 333 −61.7% Adjusted EBIT margin 3.2% 7.7% 1 Prior-year figures comparable based on the segment structure effective October 1, 2025. 2 Year-over-year on a comparable basis, excluding currency translation and portfolio effects as well as effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. 3 Total adjusted revenue is defined as total revenue adjusted for effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. Neither in the current reporting period nor in the prior- year period such adjustments were made to revenue. Revenue rose by 4.0% on a comparable basis in fiscal year 2026. This growth was mainly due to strong growth in the Imaging and Precision Therapy segments. From a geographical perspective, the Americas region showed strong growth, after a significant increase in the prior year. The EMEA region also posted strong growth, and the Asia Pacific Japan region slight growth. The China region reported a mid-single-digit percentage revenue decline. Nominal revenue was €23.6 billion. The equipment book-to-bill ratio was a very good 1.14, on par with the prior-year level of 1.15*, which was also very good. * Comparable based on the definition of equipment effective October 1, 2025.
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 7 Adjusted EBIT fell to around €3.8 billion in fiscal year 2026. The adjusted EBIT margin declined slightly from the prior year to 16.2%. Positive effects included earnings contributions from revenue development, tariff refunds in all segments that more than offset the annualization effects of higher tariffs, and cost reductions in connection with the transformation program in the Diagnostics business. These were offset by negative currency effects and unusual cost increases in all segments in specific areas. The adjusted EBIT margin in the Imaging segment was 23.1%, slightly below the prior-year level. Earnings contributions from strong revenue development had a positive effect. Currency effects and provisions recognized for legal and product- related risks had a negative effect. The adjusted EBIT margin in the Precision Therapy segment of 14.9% was slightly above the prior year. Earnings contributions from strong revenue development and a favorable business mix more than offset negative currency effects. The adjusted EBIT margin in the Diagnostics segment of 3.2% was clearly below the prior-year level. Lower earnings contributions from strongly declining revenue development were only partially offset by cost reductions in connection with the transformation program. Net income was around €2.2 billion, up 3.5% from the prior year. The income tax rate was 22.4%, below the prior-year level. Adjusted basic earnings per share of €2.42 were higher than the prior-year figure of €2.39. Increased foreign-currency- adjusted contributions from the operating business, tariff refunds that more than offset the annualization effects of higher tariffs, as well as lower tax expenses more than offset negative currency effects. Adjusted for currency effects, adjusted basic earnings per share rose by 8.2%. Free cash flow of around €2.4 billion was below the prior-year level, mainly due to higher income tax paid.
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 8 Outlook For fiscal year 2027, we expect comparable revenue growth between 4.0% and 5.0% over fiscal year 2026. For adjusted basic earnings per share, we expect a range of between €2.20 and €2.40. The outlook is based on several assumptions. This includes assumptions about exchange rate developments, which currently lead to a slightly positive currency effect on the expected adjusted basic earnings per share for fiscal year 2027 compared with fiscal year 2026. Furthermore, this outlook excludes potential portfolio measures. In addition, the outlook is based on the assumption that developments related to wars and conflicts will not have a material impact on our business activities. The outlook is based on the number of shares outstanding at the end of fiscal year 2026. This outlook is based on the assumption that the current macroeconomic environment, including the interest rate level, will remain largely unchanged. Further charges from legal, tax and regulatory issues and framework conditions, for example changes in the level of tariffs and the resilience of our supply chains, are excluded.
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 9 Notes and forward-looking statements The conference call for journalists with Siemens Healthineers CEO Dr. Bernd Montag and CFO Dr. Jochen Schmitz on the financial figures of the fourth quarter will be broadcast live on the Internet at 10:00 a.m. CET on November 5, 2026: siemens-healthineers.com/press Starting at 08:00 a.m. CET, the conference call for analysts and investors with Dr. Bernd Montag and Dr. Jochen Schmitz can be followed live at: siemens-healthineers.com/investor-relations Recordings of both conferences will be made available afterwards. Financial publications are available for download at: siemens-healthineers.com/investor-relations/presentations-financial-publications Contact for journalists: Georgina Prodhan – Phone: +44 7808 828799; Email: georgina.prodhan@siemens-healthineers.com Ulrich Kuenzel – Phone: +49 162 2433492; Email: ulrich.kuenzel@siemens-healthineers.com This document contains statements related to our future business and financial performance and future events or developments involving Siemens Healthineers that may constitute forward-looking statements. These statements may be identified by words such as “expect”, “forecast”, “anticipate”, “intend”, “plan”, “believe”, “seek”, “estimate”, “will”, “target” or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward- looking statements. Such statements are based on the current expectations, plans and certain assumptions of Siemens Healthineers’ management, of which many are beyond Siemens Healthineers’ control. As they relate to future events or developments, these statements are subject to a number of risks, uncertainties and factors, including, but not limited to those possibly described in the respective disclosures. Should one or more of these or other risks, uncertainties or factors (e.g. events of force majeure, including but not limited to unrest, acts of war, pandemics or acts of God) materialize, plans change or should underlying expectations not occur or assumptions prove incorrect, Siemens Healthineers’ management actions, actual results, performance or achievements of Siemens Healthineers may (negatively or positively) vary materially from those described explicitly or implicitly in the forward-looking statement. This document includes supplemental financial measures that are or may be alternative performance measures not precisely defined in the applicable financial reporting framework. These supplemental financial measures may have limitations as analytical tools and should not be viewed in isolation or as alternatives to measures of Siemens Healthineers’ net assets, financial position and results of operations as presented in accordance with the applicable financial reporting framework. Other companies that report or describe similarly titled alternative performance measures may calculate them differently, and therefore they may not be comparable to those included in this document. For further explanations of our (supplemental) financial measures, please see chapter “A.2 Financial performance system” of the Combined management report and in the Notes to consolidated financial statements, Note 29 “Segment information” of the Annual Report 2025 of Siemens Healthineers. Additional information and reconciliations are included in the Half-Year Financial Report 2026. These documents can be found under the following internet link www.siemens- healthineers.com/investor-relations/presentations-financial-publications. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures to which they refer. For technical reasons, there may be differences in formatting between the accounting records appearing in this document and those published pursuant to legal requirements. This document is an English language translation of the German document. In case of discrepancies, the German language document is the sole authoritative and universally valid version. The information contained in this document is provided as of the date of this document and is subject to change without notice. In the event that the male form is used in this document, the information nevertheless refers to all persons.
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 10 Siemens Healthineers AG Siemensstr. 3 91301 Forchheim, Germany siemens-healthineers.com Investor Relations Phone: +49 (9131) 84-3385 Email: ir.team@siemens-healthineers.com siemens-healthineers.com/investor-relations Press Email: press.team@siemens-healthineers.com siemens-healthineers.com/press © Siemens Healthineers AG, 2026
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Financial Results Fourth quarter of fiscal year 2026
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 12 Additional information Revenue by region (location of customer) Q4 Q4 % Change (in millions of €) 2026 2025 Act. Comp.¹ Europe, C.I.S., Africa, Middle East (EMEA) 2,221 2,120 4.8% 4.3% Therein: Germany 361 360 0.2% 0.2% Americas 2,996 2,745 9.1% 7.3% Therein: United States 2,579 2,369 8.8% 7.6% Asia Pacific Japan² 911 827 10.1% 11.3% China 656 629 4.3% −1.9% Siemens Healthineers 6,784 6,322 7.3% 5.9% 1 Year-over-year on a comparable basis, excluding currency translation and portfolio effects as well as effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. 2 Including India. Revenue by region (location of customer) Fiscal year Fiscal year % Change (in millions of €) 2026 2025 Act. Comp.¹ Europe, C.I.S., Africa, Middle East (EMEA) 7,892 7,555 4.5% 4.5% Therein: Germany 1,225 1,215 0.9% 0.7% Americas 10,502 10,283 2.1% 6.5% Therein: United States 9,081 8,904 2.0% 7.2% Asia Pacific Japan² 2,930 3,055 −4.1% 2.5% China 2,307 2,482 −7.1% −6.6% Siemens Healthineers 23,630 23,375 1.1% 4.0% 1 Year-over-year on a comparable basis, excluding currency translation and portfolio effects as well as effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. 2 Including India. Employees Sept 30, Sept 30, (in thousands) 2026 2025 Number of employees 74.6 73.8 Germany 16.7 16.4 Outside Germany 58.0 57.4
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 13 Consolidated statements of income Q4 Q4 Fiscal year Fiscal year (in millions of €, earnings per share in €) 2026 2025 2026 2025 Revenue 6,784 6,322 23,630 23,375 Cost of sales −4,336 −3,948 −14,516 −14,345 Gross profit 2,448 2,374 9,114 9,030 Research and development expenses −518 −499 −1,969 −1,958 Selling and general administrative expenses −1,076 −975 −3,973 −3,887 Other operating income 5 3 59 12 Other operating expenses −11 −11 −37 −33 Income from investments accounted for using the equity method, net 1 −9 1 −10 Earnings before interest and taxes 848 882 3,196 3,154 Interest income 37 18 114 99 Interest expenses −109 −108 −408 −425 Other financial income, net −11 −21 −13 25 Income before income taxes 765 770 2,890 2,853 Income tax expenses −166 −174 −646 −686 Net income 599 597 2,243 2,168 Thereof attributable to: Non-controlling interests 9 8 29 23 Shareholders of Siemens Healthineers AG 589 588 2,214 2,144 Basic earnings per share 0.53 0.53 1.98 1.91 Diluted earnings per share 0.53 0.52 1.97 1.91
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 14 Consolidated statements of comprehensive income Q4 Q4 Fiscal year Fiscal year (in millions of €) 2026 2025 2026 2025 Net income 599 597 2,243 2,168 Remeasurements of defined benefit plans 47 −47 88 −2 Therein: Income tax effects −16 −11 −24 −30 Remeasurements of equity instruments ‐ ‐ 1 6 Therein: Income tax effects ‐ ‐ ‐ −1 Other comprehensive income that will not be reclassified to profit or loss 47 −47 89 4 Currency translation differences 119 −122 700 −1,169 Cash flow hedges 18 −37 −28 −12 Therein: Income tax effects −6 15 14 5 Cost/Income from hedging −38 29 −92 19 Therein: Income tax effects 16 −12 39 −8 Other comprehensive income that may be reclassified subsequently to profit or loss 99 −130 579 −1,162 Other comprehensive income, net of taxes 146 −177 668 −1,158 Comprehensive income 745 420 2,911 1,009 Thereof attributable to: Non-controlling interests 11 9 31 21 Shareholders of Siemens Healthineers AG 734 411 2,881 988
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 15 Consolidated statements of financial position Sept 30, Sept 30, (in millions of €) 2026 2025 Cash and cash equivalents 2,542 2,175 Trade and other receivables 4,971 4,681 Other current financial assets 413 344 Current receivables from the Siemens Group 25 9 Contract assets 2,257 1,869 Inventories 4,522 4,135 Current income tax assets 136 126 Other current assets 785 760 Total current assets 15,651 14,098 Goodwill 17,477 17,124 Other intangible assets 6,471 6,505 Property, plant and equipment 5,114 4,713 Investments accounted for using the equity method 21 19 Other non-current financial assets 937 956 Deferred tax assets 456 410 Other non-current assets 580 543 Total non-current assets 31,056 30,272 Total assets 46,707 44,370 Short-term financial debt and current maturities of long-term financial debt 277 268 Trade payables 2,556 2,296 Other current financial liabilities 301 245 Current liabilities to the Siemens Group 2,932 3,192 Contract liabilities 3,982 3,641 Current provisions 523 411 Current income tax liabilities 528 675 Other current liabilities 2,122 1,916 Total current liabilities 13,220 12,644 Long-term financial debt 589 487 Provisions for pensions and similar obligations 333 488 Deferred tax liabilities 1,075 1,150 Non-current provisions 146 151 Other non-current financial liabilities 22 22 Other non-current liabilities 461 483 Non-current liabilities to the Siemens Group 10,943 10,855 Total non-current liabilities 13,570 13,635 Total liabilities 26,790 26,279 Issued capital 1,128 1,128 Capital reserve 15,940 15,888 Retained earnings 4,373 3,240 Other components of equity −1,098 −1,676 Treasury shares −495 −539 Total equity attributable to shareholders of Siemens Healthineers AG 19,849 18,040 Non-controlling interests 68 51 Total equity 19,917 18,091 Total liabilities and equity 46,707 44,370
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 16 Consolidated statements of cash flows Q4 Q4 (in millions of €) 2026 2025 Net income 599 597 Adjustments to reconcile net income to cash flows from operating activities: Amortization, depreciation and impairments 325 309 Income tax expenses 166 174 Interest income/expenses, net 72 90 Income/loss related to investing activities 6 37 Other non-cash income/expenses, net 71 43 Change in operating net working capital Contract assets −229 −141 Inventories 239 266 Trade and other receivables −441 −336 Receivables from and payables to the Siemens Group from operating activities ‐ 1 Trade payables 229 197 Contract liabilities 27 7 Change in other assets and liabilities 299 98 Additions to equipment leased to others in operating leases −85 −82 Income taxes paid −311 −150 Interest received 22 15 Cash flows from operating activities 991 1,125 Additions to intangible assets and property, plant and equipment −288 −262 Purchase of investments and financial assets for investment purposes −4 ‐ Acquisitions of businesses, net of cash acquired ‐ −12 Disposal of investments, intangible assets and property, plant and equipment 1 119 Disposal of businesses, net of cash disposed ‐ 3 Cash flows from investing activities −291 −152 Purchase of treasury shares −54 −89 Issuance of long-term debt 87 ‐ Repayment of long-term debt (including current maturities of long-term debt) −47 −43 Change in short-term financial debt and other financing activities 13 7 Interest paid −12 −11 Dividends paid to non-controlling interests −1 ‐ Interest paid to the Siemens Group −204 −184 Other transactions/financing with the Siemens Group Repayment of long-term debt (including current maturities of long-term debt) −66 ‐ Change in short-term financial debt and other financing activities −246 −830 Cash flows from financing activities −529 −1,149 Effect of changes in exchange rates on cash and cash equivalents 12 −23 Change in cash and cash equivalents 182 −199 Cash and cash equivalents at beginning of period 2,360 2,374 Cash and cash equivalents at end of period 2,542 2,175
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 17 Consolidated statements of cash flows Fiscal year Fiscal year (in millions of €) 2026 2025 Net income 2,243 2,168 Adjustments to reconcile net income to cash flows from operating activities: Amortization, depreciation and impairments 1,187 1,296 Income tax expenses 646 686 Interest income/expenses, net 294 326 Income/loss related to investing activities 0 −30 Other non-cash income/expenses, net 156 184 Change in operating net working capital Contract assets −355 −39 Inventories −223 −76 Trade and other receivables −185 −378 Receivables from and payables to the Siemens Group from operating activities −17 7 Trade payables 191 229 Contract liabilities 227 164 Change in other assets and liabilities 225 −175 Additions to equipment leased to others in operating leases −251 −313 Income taxes paid −929 −577 Interest received 77 61 Cash flows from operating activities 3,287 3,532 Additions to intangible assets and property, plant and equipment −842 −818 Purchase of investments and financial assets for investment purposes −8 −2 Acquisitions of businesses, net of cash acquired −44 −216 Disposal of investments, intangible assets and property, plant and equipment 19 128 Disposal of businesses, net of cash disposed ‐ 3 Cash flows from investing activities −875 −906 Purchase of treasury shares −161 −301 Other transactions with owners −10 −13 Issuance of long-term debt 87 ‐ Repayment of long-term debt (including current maturities of long-term debt) −190 −188 Change in short-term financial debt and other financing activities 29 3 Interest paid −40 −48 Dividends paid to shareholders of Siemens Healthineers AG −1,118 −1,066 Dividends paid to non-controlling interests −15 −13 Interest paid to the Siemens Group −373 −401 Other transactions/financing with the Siemens Group Issuance of long-term debt ‐ 61 Repayment of long-term debt (including current maturities of long-term debt) −70 −5 Change in short-term financial debt and other financing activities −240 −1,068 Cash flows from financing activities −2,101 −3,038 Effect of changes in exchange rates on cash and cash equivalents 56 −97 Change in cash and cash equivalents 367 −508 Cash and cash equivalents at beginning of period 2,175 2,683 Cash and cash equivalents at end of period 2,542 2,175
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 18 Overview of segment figures Adjusted external revenue¹ Intersegment revenue Total adjusted revenue¹ Adjusted EBIT² Assets³ Free cash flow Additions to other intangible assets and property, plant and equipment⁴ Amortization, depreciation and impairments Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Sept 30, Sept 30, Q4 Q4 Q4 Q4 Q4 Q4 (in millions of €) 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Imaging⁵ 3,698 3,317 30 24 3,729 3,341 817 756 9,020 8,493 830 803 110 79 44 39 Precision Therapy⁵ 1,967 1,858 1 1 1,968 1,859 273 318 15,404 14,974 200 243 41 30 30 22 Diagnostics 1,067 1,098 0 0 1,067 1,098 58 82 5,796 5,601 71 30 139 140 85 81 Total Segments 6,733 6,273 31 25 6,764 6,298 1,147 1,157 30,219 29,068 1,100 1,076 290 249 159 142 Reconciliation to Consolidated Financial Statements⁵, ⁶ 52 49 −31 −25 20 24 −382 −386 16,488 15,302 −397 −212 183 151 166 166 Siemens Healthineers 6,784 6,322 ‐ ‐ 6,784 6,322 765 770 46,707 44,370 703 863 473 400 325 309 1 Siemens Healthineers: revenue according to IFRS, segments: adjusted external revenue or total adjusted revenue, respectively. Those are adjusted for effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. Neither in the current reporting period nor in the prior-year period such adjustments were made. 2 Siemens Healthineers: income before income taxes. 3 On segment level: net capital employed. 4 Including additions through business combinations, excluding goodwill. 5 Prior-year figures comparable based on the segment structure effective October 1, 2025. 6 Including effects from amortization, depreciation and other effects from IFRS 3 purchase price allocations. Adjusted external revenue¹ Intersegment revenue Total adjusted revenue¹ Adjusted EBIT² Assets³ Free cash flow Additions to other intangible assets and property, plant and equipment⁴ Amortization, depreciation and impairments Fiscal year Fiscal year Fiscal year Fiscal year Sept 30, Fiscal year Fiscal year Fiscal year (in millions of €) 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Imaging⁵ 12,398 11,983 108 101 12,506 12,084 2,884 2,802 9,020 8,493 2,670 2,590 309 447 158 154 Precision Therapy⁵ 7,020 6,840 3 3 7,023 6,844 1,046 1,012 15,404 14,974 956 952 135 141 93 81 Diagnostics 4,028 4,346 1 1 4,029 4,347 128 333 5,796 5,601 2 79 440 513 321 387 Total Segments 23,445 23,169 112 106 23,558 23,275 4,057 4,148 30,219 29,068 3,628 3,621 884 1,101 573 622 Reconciliation to Consolidated Financial Statements⁵, ⁶ 185 206 −112 −106 73 100 −1,168 −1,295 16,488 15,302 −1,183 −907 548 416 614 674 Siemens Healthineers 23,630 23,375 ‐ ‐ 23,630 23,375 2,890 2,853 46,707 44,370 2,446 2,714 1,432 1,517 1,187 1,296 1 Siemens Healthineers: revenue according to IFRS, segments: adjusted external revenue or total adjusted revenue, respectively. Those are adjusted for effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. Neither in the current reporting period nor in the prior-year period such adjustments were made. 2 Siemens Healthineers: income before income taxes. 3 On segment level: net capital employed. 4 Including additions through business combinations, excluding goodwill. 5 Prior-year figures comparable based on the segment structure effective October 1, 2025. 6 Including effects from amortization, depreciation and other effects from IFRS 3 purchase price allocations.
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Quarterly Statement Q4 Fiscal Year 2026 | Siemens Healthineers 19 EBITDA reconciliation Adjusted EBIT Therein adjusted for amortization, depreciation and other effects from IFRS 3 purchase price allocation adjustments Therein adjusted for transaction, integration, retention and carve-out costs Therein adjusted for gains and losses from divestments Therein adjusted for severance charges Therein adjusted for other portfolio- related measures Therein adjusted for other restructuring expenses Amortization, depreciation and impairments EBITDA¹ Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 (in millions of €) 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Imaging² 817 756 ‐ −1 0 −3 ‐ ‐ −11 −5 ‐ ‐ −0 ‐ 44 39 850 787 Precision Therapy² 273 318 −2 −2 −1 −16 ‐ ‐ −5 −6 ‐ ‐ −15 −1 30 22 280 316 Diagnostics 58 82 ‐ ‐ ‐ ‐ ‐ ‐ −13 −12 ‐ ‐ −38 −77 85 81 92 75 Total Segments 1,147 1,157 −2 −2 −0 −19 ‐ ‐ −30 −22 ‐ ‐ −53 −78 159 142 1,221 1,178 Reconciliation to Consolidated Financial Statements² −71 −58 −85 −84 ‐ −7 ‐ ‐ −20 −2 ‐ ‐ −38 −3 166 166 −48 13 Siemens Healthineers 1,077 1,098 −87 −86 −0 −25 ‐ ‐ −50 −24 ‐ ‐ −92 −81 325 309 1,173 1,190 1 Income before income taxes, interest income and expenses, other financial income, net as well as amortization, depreciation & impairments. 2 Prior-year figures comparable based on the segment structure effective October 1, 2025. Adjusted EBIT Therein adjusted for amortization, depreciation and other effects from IFRS 3 purchase price allocation adjustments Therein adjusted for transaction, integration, retention and carve-out costs Therein adjusted for gains and losses from divestments Therein adjusted for severance charges Therein adjusted for other portfolio- related measures Therein adjusted for other restructuring expenses Amortization, depreciation and impairments EBITDA¹ Fiscal year Fiscal year Fiscal year Fiscal year Fiscal year Fiscal year Fiscal year Fiscal year Fiscal year (in millions of €) 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Imaging² 2,884 2,802 ‐ −1 −4 −8 ‐ ‐ −34 −21 ‐ ‐ −0 −1 158 154 3,004 2,926 Precision Therapy² 1,046 1,012 −6 −7 −1 −23 ‐ 0 −21 −17 0 ‐ −18 −6 93 81 1,093 1,041 Diagnostics 128 333 ‐ ‐ ‐ ‐ ‐ ‐ −32 −33 ‐ ‐ −99 −199 321 387 318 488 Total Segments 4,057 4,148 −6 −8 −5 −31 ‐ 0 −87 −71 0 ‐ −117 −206 573 622 4,415 4,455 Reconciliation to Consolidated Financial Statements² −234 −293 −336 −350 ‐ −16 ‐ ‐ −35 −17 41 ‐ −81 −3 614 674 −31 −5 Siemens Healthineers 3,823 3,855 −342 −357 −5 −47 ‐ 0 −122 −88 41 ‐ −198 −209 1,187 1,296 4,383 4,450 1 Income before income taxes, interest income and expenses, other financial income, net as well as amortization, depreciation & impairments. 2 Prior-year figures comparable based on the segment structure effective October 1, 2025.