Undoubtedly the pandemic has been overwhelming healthcare facilities across the world. Demand for healthcare equipment has been on the rise since the pandemic began.
German based healthcare technology company Siemens Healthineers AG (ETR: SHL) has increased its financial guidance for the year following the increased demand for medical equipment courtesy of COVID-19.
The company says it has been getting increased supply orders for its rapid antigen tests used to test COVID-19 virus.
Siemens is now expecting to record annual sales growth of between 14 to 17%. Previously the company was expecting to record 8 to 12% annual sales growth rate. The company also adjusted its earnings per share from 1.63 euros to 1.82 euros to 1.90 euros to 2.05 euros.
Additionally, Siemens is now expecting full fiscal year revenue of 750 million euros from rapid antigen tests. This is more than double the 300 million euros to 350 million euros the company had initially given as its estimate on the same.