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Getinge Year End Report 2021: “Healthy order growth, improved EBITA margin and strong cash flow”

Press release Gothenburg, Sweden on January 28, 2022

Getinge Year End Report 2021: “Healthy order growth, improved EBITA margin and strong cash flow”

“The organic order intake increased 6.4% in the fourth quarter following growth in all business areas and regions”, says Mattias Perjos, President & CEO at Getinge. “Excluding currency effects, our order bookings are more than 20% larger compared with one year ago.”

As expected, Getinge’s net sales declined compared with Q4 2020 which saw large deliveries of ICU ventilators. Demand for products for life supporting ECMO therapy and Sterile Transfer remains strong, while other parts of the operations are demonstrating a stable recovery. In particular, this applies to Surgical Workflows, which also displayed robust margin expansion. Sales of products for planned cardiovascular procedures also increased despite continuing challenges related to COVID-19.

“We are continuing to implement our strategy – focusing on our most attractive growth areas”, says Mattias Perjos, President & CEO at Getinge. “An example of this is the acquisition of Talis Clinical, a US-based leading innovator of High Acuity cloud-based software solutions. Talis’ offering is the perfect complement to our strong offering in surgery, critical care support and ECMO therapy.”

Improvements to the operations are continuing to generate effects in the form of a high EBITA margin and strong cash flows, meaning that Getinge is consolidating its solid financial position and also have scope for attractive acquisitions.

Getinge expects the organic sales growth to be in the upper part of the range of 4-6% for the full-year 2022.

October - December 2021 in brief

  • The order intake increased organically by 6.4% and net sales declined organically by 9.6%.
  • Adjusted gross profit amounted to SEK 4,150 M (4,556) and the gross margin was 52.0% (51.5).
  • Adjusted EBITA amounted to SEK 1,723 M (1,817) and the EBITA margin was 21.6% (20.6).
  • Adjusted earnings per share amounted to SEK 4.54 (4.58).
  • Cash flow after net investments amounted to SEK 1,313 M (2,283)
  • After the end of the quarter: Elin Frostehav was appointed President Acute Care Therapies and Eric Honroth President Life Science, starting April 1, 2022.

January – December 2021 in brief

  • The order intake declined organically by 3.0% and net sales declined organically by 4.8%.
  • Adjusted gross profit amounted to SEK 14,392 M (15,874) and the gross margin was 53.2% (53.2).
  • Adjusted EBITA amounted to SEK 5,212 M (5,724) and the EBITA margin amounted to 19.3% (19.2).
  • Adjusted earnings per share amounted to SEK 13.22 (14.43).
  • Cash flow after net investments amounted to SEK 5,946 M (6,207).
  • A dividend of SEK 4.00 (3.00) per share is proposed.

Phone Conference

A conference call will be held on January 28, 2022, at 10:00-11:00 am CET hosted by Mattias Perjos, President & CEO, and Lars Sandström, CFO. Please see dial in details below to join the conference:

SE: +46 850 558 357
UK: +44 333 300 92 60
US: +1 646 722 49 03

During the conference call a presentation will be held. To access the presentation through webcast, please use this link: https://tv.streamfabriken.com/getinge-q4-2021  

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-q4-2021

Media contact:

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. The information was submitted for publication, through the agency of the contact person set out above, on January 28, 2022, at 08:00 am CET.

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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