Published by Global Banking and Finance Review
Posted on July 30, 2025
By Marleen Kaesebier
(Reuters) -Siemens Healthineers expects U.S. tariffs to have an impact of up to 500 million euros ($578 million) on 2026 results, its finance chief said on Wednesday, after the European Union and U.S. reached a framework trade agreement on Sunday.
The German medical technology company estimates a 400-500 million euro hit in the "most realistic case" for the financial year starting in October, CFO Jochen Schmitz told journalists.
He flagged a 200-250 million euro net impact from import duties on the current year. In May, the company had said it expected a 300 million euro hit in the second half of 2025.
Its Dutch med-tech peer Philips also slashed its estimated tariff impact for this year on Tuesday.
The EU-U.S. deal sets out a 15% import tariff on most EU goods from next month, lower than the 30% U.S. President Donald Trump had threatened to apply earlier in July.
With 10% tariffs having already been in place, Schmitz said Siemens Healthineers took a 100 million euro hit in the third quarter, the results of which it reported on Wednesday.
Over the medium term, Schmitz said he believed the company would be able to "manage away" all tariff effects.
"That will be a combination partly of pricing, but also value-add structure changes under certain circumstances," he said. However, he added that it was too early to make structural decisions as many aspects of the tariff deal were still unclear.
Siemens Healthineers also cited the tariff deal when slightly raising its full-year outlook.
It expects annual comparable revenue growth of 5.5% to 6%, after previously guiding for 5-6%, and adjusted basic earnings of 2.30-2.45 euros per share, versus 2.20-2.50 euros expected in May.
Its revenue was 5.66 billion euros in the third quarter, slightly above analysts' consensus.
The company's shares were up 1.6% in Frankfurt as of 0835 GMT.
($1 = 0.8656 euros)
(Reporting by Marleen Kaesebier in Gdansk and Alexander Huebner in Munich; editing by Milla Nissi-Prussak)
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