Getinge Interim Report January-September 2020: Extraordinary efforts when they were needed the most
“We are continuing to deepen our partnerships with hospitals and pharmaceutical companies around the world to combat COVID-19 and in the third quarter we delivered more advanced ICU ventilators than we normally do in a whole year”, says Mattias Perjos, President & CEO Getinge.
The order intake for ventilators increased in the third quarter, but at a less spectacular level and the capacity will be adjusted accordingly. The strong sales of ECMO therapy products for hospitals and Sterile Transfer products for the pharmaceutical industry continued. All in all, Getinge’s sales increased organically by 33.4% and the order intake fell by 5.3% in the quarter.
Parts of the business continues to be negatively affected by COVID-19. Getinge sees an upcoming need for managing the medical care that is being postponed in connection with COVID-19, even though it’s hard to determine exactly when, and to what extent, this can take place. Surgical Workflows is the business area that was hardest hit in terms of orders and Getinge does not forsee a lasting turnaround until the second half of 2021, given the longer lead times in this business.
In the quarter, Getinge announced its objective to become CO₂ neutral by 2025, which will be achieved by a combination of activities, such as switching to renewable energy sources, new virtual ways of conducting meetings, smarter logistics and sustainable product development.
“I would again like to thank all hospital staff, our partners and my coworkers for your extraordinary efforts when they were needed the most”, ends Mattias Perjos.
July – September 2020 in brief
- Net sales increased organically by 33.4% and the order intake declined by 5.3% organically (despite this, order bookings were higher that at the same time in 2019).
- Adjusted gross profit amounted to SEK 4,378 M (3,171) and the margin was 54.9% (50.8).
- Adjusted EBITA amounted to SEK 2,028 M (677) and the margin was 25.4% (10.9).
- Adjusted earnings per share amounted to SEK 5.37 (1.42).
- Cash flow after net investments amounted to SEK 1,567 M (587).
- Anna Romberg was appointed Executive Vice President Legal, Compliance & Governance and member of the Executive Team.
A conference call will be held on October 16, 2020, 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:
During the conference call a presentation will be held. To access the presentation through webcast, please use this link: https://tv.streamfabriken.com/getinge-q3-2020
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-q3-2020
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 CEST on October 16, 2020.
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.