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Getinge publishes Interim Report for January-June 2018

Gothenburg, Sweden July 17, 2018

Getinge publishes Interim Report for January-June 2018

“Getinge is continuing to generate growth on a broad front”, says Mattias Perjos, President & CEO of Getinge. “The order intake increased by slightly more than 10% during the quarter and net sales 6% organically, meaning that we are adjusting our outlook for the full-year to be well within 2-4% organic growth in net sales. The gross margin was negatively impacted by market and product mix effects as a result of the healthy sales in primarily emerging markets and in capital goods.”

Operating expenses stabilized after a number of quarters of gradual increases, but the company is not ruling out slightly higher operating expenses in future quarters, mainly due to ongoing quality improvements linked to the Consent Decree with the FDA and the need to fill certain positions in the sales and service organization. All in all, Getinge has a confident outlook for the second half of the year with a continued focus on innovation, customers, quality and cost awareness.

April – June 2018 in brief

  •  Order intake increased organically by 10.2%, with a robust performance in capital goods and in emerging markets. 
  •  Net sales increased organically by 6.0% also due to the favorable trend in capital goods and in emerging markets.  
  •  Adjusted EBITA amounted to SEK 538 M (702) with profitability weighed down by lower gross margin due to the product and market mix. 
  •  Currency effects impacted net sales by SEK +40 M, gross profit by SEK -32 M
    and EBITA by SEK -69 M.
  •  Adjusted earnings per share amounted to SEK 1.21 (1.62). 
  •  Agreement signed with Brazilian authority entailing a company fine of SEK 276 M, which is covered by previously communicated provisions. An additional tax provision of SEK 64 M has been made for self correction of tax return. 

Conference call
A conference call is held on July 17 at 10:00 CET hosted by Mattias Perjos, President & CEO, and Lars Sandström, CFO. Please find dial in details to join the conference call here.

For more information, please contact

Jeanette Hedén Carlsson, Executive Vice President Communications & Brand Management

Phone: +46 (0)10 335 1003

Lars Mattsson, Head of Investor Relations
Phone: +46 (0)10 335 0043

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, 2018, at 8:00 a.m. CET.