Getinge Interim Report January-June 2021: Strong recovery in products for surgery

“In total, sales increased by 3.6% organically compared with the second quarter 2020, and the order intake declined by 6.1% organically compared with 2020 when we received very large orders of advanced ICU ventilators”, says Mattias Perjos, President & CEO. “Cash flow remained strong and net debt in relation to EBITDA improved further”.

The second quarter was characterized by a rapidly growing need for cardiovascular surgery products in North America and acute needs for advanced ICU ventilators in India to treat COVID-19 patients. In addition, the high delivery rate of Getinge’s world-leading ECMO therapy products continued. The demand for products for laboratory environments and Sterile Transfer to pharmaceutical companies, which was intensified during the pandemic, was consistently strong. Order intake is also recovering in Surgical Workflows, which is expected to result in stronger net sales going forward.

“Currency effects had a negative impact on sales and earnings in the quarter”, says Mattias Perjos, President & CEO at Getinge. “However, margins strengthened due to a higher capacity utilization in our manufacturing sites and in the service organization, as well as improved productivity”.

Getinge is continuing to implement its strategy – focusing on product development, growth and profitability – in full speed. One of the products launched in the quarter was Torin Artificial Intelligence, which helps customers to efficiently plan their surgeries, which is particularly relevant at the moment due to long surgery backlogs resulting from COVID-19. Three products in Getinge’s portfolio of advanced ICU ventilators also received FDA clearance for sale in the US. The consolidation of manufacturing sites in New Jersey, USA, is proceeding according to plan and scheduled for completion at the end of the year, which is expected to help improve productivity development.

April – June 2021 in brief

• Net sales increased organically by 3.6% and the order intake declined by 6.1% organically.
• Adjusted gross profit amounted to SEK 3,624 M (3,723) and the margin was 55.0% (53.4).
• Adjusted EBITA amounted to SEK 1,250 M (1,218) and the margin was 19.0% (17.5).
• Adjusted earnings per share amounted to SEK 3.04 (3.07).
• Cash flow after net investments amounted to SEK 1,228 M (1,368).

Phone Conference

A conference call will be held on July 16, 2021, at 10:00-11:00 am CEST hosted by Mattias Perjos, President & CEO, and Lars Sandström, CFO. Please see dial in details below to join the conference:

SE: +46850558365
UK: +443333009268
US: +16319131422

During the conference call a presentation will be held. To access the presentation through webcast, please use this link: https://tv.streamfabriken.com/getinge-q2-2021 

Alternatively, use the following link to download the presentation: https://www.getinge.com/int/about-us/investors/reports-presentations.

Agenda
09:45    Dial in to the conference
10:00    Presentation
10:30    Q&A
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-q2-2021 

Media contact:

Lars Mattson, Head of Investor Relations
Tel: +46 (0)10 335 0043
Email: lars.mattsson@getinge.com
 

This information is such that Getinge AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, on July 16, 2021, at 08:00 a.m. CEST.

About Getinge

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.

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