Press Release July 17, 2017Gothenburg, Sweden
Interim Report January – June 2017
April – June 2017 in brief
- Order intake increased by 1.1% to SEK 7,539 M (7,460). The order intake declined organically by 3.8%.
- Net sales rose by 4.5% to SEK 7,241 M (6,927). Net sales decreased organically by 0.5%.
- Cash flow from operations declined 51.8% to SEK 223 M (463). The cash conversion amounted to 29.1% (44.7).
- EBITA 1* increased 9.6% to SEK 864 M (788).
- Restructuring and integration costs amounted to SEK 524 M (133), of which SEK 488 M comprised a provision for improvements in Hechingen in accordance with the Consent Decree with the FDA.
- Profit after financial items fell to SEK 9 M (311).
- Earnings per share declined to SEK 0.01 (0.93).
- Savings of slightly more than SEK 100 M were achieved via the Big 5 efficiency-enhancement program.
- Plan for guaranteed rights issue of approximately SEK 4 billion.
- A minor acquisition within Surgical Workflows
- After the quarter: Lars Sandström was appointed CFO and the notice of the EGM for the proposed Rights Issue was published.
January – June 2017 in brief
- Order intake increased by 2.8% to SEK 14,788 M (14,384). The order intake declined organically by 1.6%.
- Net sales increased by 4.5% to SEK 13,905 M (13,304), corresponding to an organic change of 0.0%.
- Cash flow from operations fell by 6.2% to SEK 1,091 M (1,163). The cash conversion amounted to 55.3% (59.2).
- EBITA 1* improved by 19.5% to SEK 1,682 M (1,408).
- Restructuring and integration costs amounted to SEK 620 M (260).
- Profit after financial items decreased to SEK 392 M (468).
- Earnings per share declined to SEK 1.17 (1.39).
- Savings of slightly more than SEK 200 M were achieved via the Big 5 efficiency-enhancement program.
Financial summary
| Quarter 2 2017 | Quarter 2 2016 |
Jan-Jun 2017 |
Jan-Jun 2016 |
Rolling 12M |
Full year 2016 |
|
| Order intake, SEK M | 7,539 | 7,460 | 14,788 | 14,384 | 30,546 | 30,142 |
| Net sales, SEK M | 7,241 | 6,927 | 13,905 | 13,304 | 30,357 | 29,756 |
| Gross profit, SEK M | 3,449 | 3,167 | 6,744 | 6,178 | 14,406 | 13,840 |
| Gross margin, % | 47.6 | 45.7 | 48.5 | 46.4 | 47.5 | 46.5 |
| EBITA 1*, SEK M | 864 | 788 | 1,682 | 1,408 | 4,615 | 4,341 |
| EBITA 1* margin, % | 11.9 | 11.4 | 12.1 | 10.6 | 15.2 | 14.6 |
| Operating profit (EBIT), SEK M | 162 | 473 | 702 | 789 | 2,200 | 2,287 |
| Profit after financial items, SEK M | 9 | 311 | 392 | 468 | 1,574 | 1,650 |
| Net profit, SEK M | 7 | 227 | 288 | 342 | 1,159 | 1,213 |
| Earnings per share, SEK | 0.01 | 0.93 | 1.17 | 1.39 | 4.77 | 4.98 |
| Cash flow from operating activities, SEK M | 223 | 463 | 1,091 | 1,163 | 3,599 | 3,671 |
* EBITA 1: EBITA before acquisition, restructuring and integration costs.
For further information, please contact:
Jeanette Hedén Carlsson
EVP Communications & Brand Management
Phone: +46 (0)10 335 1003
Email: jeanette.hedencarlsson@getinge.com
Lars Mattsson
Head of Investor Relations
Phone: +46 (0)10 335 0043
Email: lars.mattsson@getinge.com
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 CET on July 17, 2017.
About Getinge
Getinge is a global provider of innovative solutions for operating rooms, intensive care units, sterilization departments and for life science companies and institutions. Based on our firsthand experience and close partnerships with clinical experts, healthcare professionals and medtech specialists, we are improving the everyday life for people - today and tomorrow.