Getinge publishes Interim Report for January - June 2019

“We show strong growth and improved cash flow during the second quarter”, says Mattias Perjos, President & CEO at Getinge. “However, I am not satisfied with the margins, and we will intensify our efforts to strengthen the profitability of the operations in general.”

Getinge is today reporting an increase in organic sales by 4.0% and an increased order intake of 5.2% organically, which means that Getinge’s growth remains higher than the market average. The positive performance in the US is continuing and the net sales in China increased by more than 30%. During the quarter, Getinge launched the steam sterilizer GSS610H and the most recent version of the Servo-u ventilator is now ready for launch on all markets that require CE marking.

“I am pleased with the development in the business areas Acute Care Therapies and Life Science in the quarter and that our working capital is continuing to decline despite our growth, which has a positive impact on cash flow, “says Mattias Perjos. “ However, I am not satisfied with the margins, which were impacted by the negative development in the business area Surgical Workflows, and we will intensify our efforts to strengthen the profitability of the operations in general and in Surgical Workflows in particular.”

April – June 2019 in brief

•  Net sales increased organically by 4.0% and the order intake rose by 5.2%, despite challenging comparative figures.  
•  Adjusted gross profit amounted to SEK 3,101 M (2,844) and the margin was 49.4% (49.6). IFRS 16 had a positive effect of SEK 29 M on adjusted gross profit. 
•  Adjusted EBITA amounted to SEK 591 M (538) and the adjusted EBITA margin was 9.4% (9.4). IFRS 16 had a positive effect of SEK 4 M on adjusted EBITA. 
•  Adjusted earnings per share amounted to SEK 1.12 (1.21). The effect of IFRS 16 was SEK -0.01 per share.  
•  Introduction of the GSS610H Sterilizer and the upgraded version of the Servo-u ventilator is ready for launch on all markets that require CE marking.  

Telephone conference

A conference call will be held on July 17, 2019, at 10:00-11:00 CEST hosted by Mattias Perjos, President & CEO, and Lars Sandström, CFO. Please see dial in details below to join the conference:

SE: +46 8 519 99 383   
UK: +44 33 3300 9035
US: +1 844 625 1570

During the telephone conference a presentation will be held. To access the presentation through webcast, please use this link: https://tv.streamfabriken.com/getinge-q2-2019.

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

A recorded version can be accessed for 3 years via: https://tv.streamfabriken.com/getinge-q2-2019

Media contact:

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

Jeanette Hedén Carlsson, EVP Communication & Academy
Tel: +46 (0)10 335 1003
Email: jeanette.hedencarlsson@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 17, 2019, 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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