Getinge Full Year Report 2020: Intense efforts to support health care and pharmaceutical companies
“We have continued to support health care, and the pharmaceutical companies that are rapidly developing and manufacturing COVID-19 vaccines”, says Mattias Perjos, President & CEO at Getinge. “We also achieved our full-year target of delivering 26,000 advanced ICU ventilators, and the demand for our ECMO therapy products remains high”.
During the fourth quarter Getinge also noted a strong order intake in Sterile Transfer linked to COVID-19 vaccine manufacturing, for delivery in 2021. A large part of the business continues to be negatively affected by COVID-19 due to cancelled or postponed surgeries. However, during the quarter products for elective cardiovascular procedures remained at almost 90% of last year’s sales. In addition, the business area Surgical Workflows noted a recovery in the order intake compared to the preceding quarter. In total, the sales for the quarter increased by 11.1% and the order intake by 6.1% organically.
”We are well prepared to continue to support our customers in the second wave of COVID-19, and in the subsequent efforts to manage the growing backlog of surgeries in 2021”, says Mattias Perjos, President & CEO at Getinge. “We are continuing to pursue a long-term approach to create value for our customers and enhance our own productivity, which, combined with higher sales volumes, contributed to a strengthening of the margins and cash flow for both the quarter and the year as a whole. I would again like to thank all hospital staff, our partners and employees for their excellent work during 2020”.
For 2021, Getinge estimates that sales will gradually strengthen, as health care returns to normal capacity, and will amount to a minimum of SEK 27 billion. Long term Getinge expects 2-4% organic annual growth in net sales.
October - December 2020 in brief
- Net sales increased by 11.1% and the order intake by 6.1% organically.
- Adjusted gross profit amounted to SEK 4,556 M (4,304) and the margin was 51.5% (50.6).
- Adjusted EBITA amounted to SEK 1,817 M (1,673) and the margin was 20.6% (19.7).
- Adjusted earnings per share amounted to SEK 4.58 (3.84).
- Cash flow after net investments amounted to SEK 2,283 M (1,419).
January - December 2020 in brief
- Net sales increased by 14.3% and the order intake by 15.6% organically.
- Adjusted gross profit amounted to SEK 15,874 M (13,401) and the margin was 53.2% (50.5).
- Adjusted EBITA amounted to SEK 5,724 M (3,310) and the margin was 19.2% (12.5).
- Adjusted earnings per share amounted to SEK 14.43 (7.02).
- Cash flow after net investments amounted to SEK 6,207 M (2,721).
- The Board of Directors proposes a dividend of SEK 3.00 (1.50) per share, a combined total of SEK 817 M (409).
A conference call will be held on January 28, 2021, at 10:00-11:00 am CET hosted by Mattias Perjos, President & CEO, and Lars Sandström, CFO. Please see dial in details below to join the conference:
During the conference call a presentation will be held. To access the presentation through webcast, please use this link: https://tv.streamfabriken.com/getinge-q4-2020
Alternatively, use the following link to download the presentation: https://www.getinge.com/int/about-us/investors/reports-presentations.
09:45 Dial in to the conference
11:00 End of conference
Recording available for 3 years
A recorded version can be accessed for 3 years via https://tv.streamfabriken.com/getinge-q4-2020
Lars Mattson, Head of Investor Relations
Tel: +46 (0)10 335 0043
This information is information that Getinge AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on January 28, 2021.
With a firm belief that every person and community should have access to the best possible care, Getinge provides hospitals and life science institutions with products and solutions that aim to improve clinical results and optimize workflows. The offering includes products and solutions for intensive care, cardiovascular procedures, operating rooms, sterile reprocessing and life science. Getinge employs over 10,000 people worldwide and the products are sold in more than 135 countries.