Getinge Interim Report January-September 2016

Third quarter of 2016 in brief

  • Order intake decreased 3.0% to SEK 7,176 M (7,397). The order intake declined organically by 3.2%.
  • Net sales increased 0.1% to SEK 6,929 M (6,925). Net sales increased organically by 0.2%.
  • Gross margin increased to 47.3% (46.8).  
  • EBITA* improved 16.3% to SEK 963 M (828).
  • Restructuring costs increased to SEK 732 M (213). SEK 628 M comprises a provision for the FDA-related remediation program, write-down of an R&D project and costs for changes among senior executives.
  • Profit before tax decreased 146.2% to SEK -110 M (238), due to increased restructuring costs.
  • Earnings per share decreased to SEK -0.36 (0.73).
  • Good cost control as a consequence of the efficiency-enhancement program, Big 5.
  • Changes to Getinge Executive Team , Acting CEO, new CFO and HR Director.
  • FDA update , SEK 400 M provision related to the remediation program.
  • Changed outlook , moderately negative sales growth for the full year.
  • Key event after the reporting period , further developed and focused strategy, and preparation for distribution of Patient & Post-Acute Care to shareholders of Getinge.  

January-September 2016 in brief

  • Order intake decreased 2.5% to SEK 21,560 M (22,105). The order intake fell organically by 0.7%.
  • Net sales decreased 2.8% to SEK 20,233 M (20,818). Net sales fell organically by 1.1%.
  • Gross margin amounted to 46.7% (46.7).
  • EBITA* improved 4.9% to SEK 2,371 M (2,260).
  • Restructuring costs increased to SEK 992 M (483).
  • Profit before tax decreased 42.8% to SEK 358 M (626).
  • Earnings per share decreased to SEK 1.03 (1.81).

Financial summary  

MSEK Q3 2016 Q3 2015 Change % Jan-Sep 2016 Jan-Sep 2015 Change % FY 2015
Order intake 7 176   7 397 -3.0% 21 560 22 105 -2.5% 30 431
Net sales 6 929   6 925 0.1% 20 233 20 818 -2.8% 30 235
Gross Profit 3 275   3 240 1.1% 9 453 9 713 -2.7% 14 163
Gross margin 47.3%   46.8% 0.5% 46.7% 46.7% 0.0% 46.8%
EBITA* 963   828 16.3%   2 371   2 260 4.9%   4 179
EBITA margin* 13.9%   12.0% 1.9%   11.7%   10.9% 0.8%   13.8%
Operating profit 49   421 -88.4% 838 1 184 -29.2% 2 729
Profit before tax -110   238 -146.2% 358 626 -42.8% 1 997
Net profit -81   174 -146.6% 261 457 -42.9% 1 457
Earnings per share, SEK -0.36     0.73 -149.3%   1.03   1.81 -43.1% 5.83
Cash flow from operations      725   724 0.1% 1   888 1 974 -4.4% 3 458

* before restructuring, acquisition and integration cost                                        
 
 



For further information, please contact:
Kornelia Rasmussen
Executive Vice President Group Communications
Phone: +46 (0)10 335 58 10
E-mail: kornelia.rasmussen@getinge.com  

Getinge Group is a leading global provider of innovative solutions for operating rooms, intensive-care units, hospital wards, sterilization departments, elderly care and for life science companies and institutions. Getinge’s unique customer offering mirrors the hospital’s organization and value chain, and the solutions are used before, during and after the patients’ hospital stay. Based on first-hand experience and close partnerships, Getinge provides innovative healthcare solutions that improve every-day life for people, today and tomorrow.

This information is information that Getinge AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 13:00 p.m. CET on October 18, 2016  

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Getinge is a global provider of innovative solutions for operating rooms, intensive-care units, sterilization departments and for life science companies and institutions. Based on our first-hand experience and close partnerships with clinical experts, healthcare professionals and medtech specialists, we are improving the every-day life for people, today and tomorrow.

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