Getinge Interim Report January-March 2024: Higher sales, strong cash flow and new products creating more customer value

“Net sales increased by 5.2% in the first quarter, of which organic net sales was unchanged despite challenging comparative figures,” says Mattias Perjos, President & CEO at Getinge. “We have a strong free cash flow and a solid financial position that enables investments in profitable growth.”

Getinge’s order intake as a whole increased by 7.8%, of which organic growth was 2.5% due to the positive performance of all business areas and regions.

“We are continuing to strengthen the customer offering. During the quarter, we received 510(k) clearance for Hemopro 3, the new generation of our leading endoscopic vessel harvesting technology. In addition, Servo TwinView was launched, allowing medical teams to access and analyze data from the ventilators, without having to step inside the sensitive environment in the intensive care unit. Aquadis Index, a high-performance washer-disinfector for handling of large volumes, was also launched in the quarter and we strengthened our already attractive portfolio of systems and bioreactors for advanced drug development and production,” says Mattias Perjos, President & CEO at Getinge.

After the end of the quarter, Getinge submitted an application for CE certificate approval for new packaging for the ECMO therapy consumable (HLS sets) that generate the highest sales and which has been subject to a suspension of CE-certificate.

“We soon expect to submit an application for the product that generates the second highest sales, our PLS sets. I am convinced that we have thus come much closer to a final solution to these challenges,” Mattias Perjos explains.

The adjusted EBITA margin declined year on year as the result of continued costs for quality improvements in the business area Acute Care Therapies and higher costs for input goods and employees.

“We have a strong free cash flow and a solid financial position that enables investments in profitable growth. I look forward to continuing our work in the quarters ahead to create value for our customers in their important work to deliver more and better healthcare to more patients,” says Mattias Perjos.

January – March 2023 in brief

• Net sales were unchanged organically (0.0%) and the order intake rose by 2.5% organically.
• Adjusted gross profit amounted to SEK 3,855 M (3,734) and the margin was 51.3% (52.3).
• Adjusted EBITA amounted to SEK 842 M (972) and the margin was 11.2% (13.6).
• Adjusted earnings per share amounted to SEK 1.92 (2.34).
• Free cash flow amounted to SEK 944 M (-700).
• Events after the end of the quarter: Application submitted for CE certificate approval for new packaging for ECMO therapy consumables (HLS sets)

Phone Conference

A conference call will be held on April 22, 2024, at 13:00-14:00 a.m. CEST hosted by Mattias Perjos, President & CEO, and Agneta Palmér, CFO.

To participate via teleconference, please register via this link. After registration, you will be provided with telephone numbers and a conference ID to access the conference. You can ask questions verbally via the telephone conference.

During the conference call a presentation will be held. To access the presentation through webcast, please use this link. A recorded version can be accessed here for 3 years.

Contact information:

Lars Mattson, Head of Investor Relations
Phone: +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 April 22, 2024, at 12:00 noon 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 approximately 12,000 people worldwide and the products are sold in more than 135 countries.

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