Presentation

Company Profile
Getinge is a global hospital provider of products and systems aiming to improve clinical results and optimize workflows, contributing to quality enhancement and cost efficiency within the healthcare and life sciences sector. The company employs more than 10,000 people and have operations in more than 40 countries. Getinge’s manufacturing sites are located in France, China, Germany, Poland, Sweden, Turkey and the US and the head office is in Gothenburg, Sweden.

Recent highlights
While there was still a tail of above average sales of ventilators, Q2 saw a strong recovery in products for surgery in North America. Recovery in elective surgery is important for Getinge as it is the most profitable part of the company. In Q2, order intake decreased by 6.1% organically y/y and amounted to SEK 6,934m. Net sales increased by 3.6% organically y/y and amounted to SEK 6,587m. Adjusted EBITA amounted to SEK 1,250m (1,218m), corresponding to a margin of 19% (17.5%). Order intake continued to be strong for both Surgical Workflow and Life Science. The market expects a turn-around for SW and the order intake growth in H1 2021 bodes well for this to happen.

Outlook
Getinge reiterated its 2021 outlook and net sales is expected to be at least SEK 27bn, as healthcare returns to normal capacity (PAS 28.4bn, Cons 27.8bn). In the longer term, Getinge’s financial targets are to achieve average organic growth in net sales of 2-4% and average EPS growth of 10%.