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Getinge Interim Report January-March 2021: Ready to support hospitals in managing record-long waiting lines for surgeries

Press release Gothenburg, Sweden on April 20, 2021

Getinge Interim Report January-March 2021: Ready to support hospitals in managing record-long waiting lines for surgeries

“More and more of our customers are heading towards a situation in which managing record-long waiting lines for surgeries is as challenging as COVID-19”, says Mattias Perjos, President & CEO. “This is where we can provide the best possible support to our customers with our products, digital solutions, service and expertise, to shorten the waiting lines and provide patients with the care they need”.

The first quarter featured major deliveries of Sterile Transfer and ECMO therapy products. Getinge also delivered a large number of advanced ICU ventilators during the quarter, but expects sales of ventilators to return to more normal levels for the full-year 2021.

In total, Getinge’s net sales rose organically by 12.6% compared with the first quarter of 2020. The order intake declined organically by 22.8% compared with 2020 when Getinge reported an exceptional COVID-19-related order intake. Demand for the company’s world-leading products for cardiovascular procedures and for capital goods increased successively during the quarter.

“Our EBITA-margin was positively impacted by higher volumes, a favorable product mix, and lower costs for the quarter”, continues Mattias Perjos. “However, currency had a tangible negative effect on sales and earnings. Our cash flow strengthened further and our net debt continued to decline.”

Getinge will invite to a virtual Capital Markets Day on November 22, 2021. Regarding the outlook for the full-year, Getinge has decided not to change the forecast given the continuing risks related to COVID-19.

January – March 2021 in brief

  • Net sales increased organically by 12.6%. The order intake fell by 22.8 organically as a result of a strong comparative quarter related to the outbreak of COVID-19. 
  • Adjusted gross profit amounted to SEK 3,285 M (3,218) and the margin was 53.3% (53.3).
  • Adjusted EBITA amounted to SEK 1,079 M (661) and the margin was 17.5% (11.0).
  • Adjusted earnings per share amounted to SEK 2.68 (1.41).
  • Cash flow after net investments amounted to SEK 2,026 M (988).

Phone Conference

A conference call will be held on April 20, 2021, at 10:00-11:00 am CEST hosted by Mattias Perjos, President & CEO, and Lars Sandström, CFO. Please see dial in details below to join the conference:

SE: +46850558350      
UK: +443333009035    
US: +18335268398

During the conference call a presentation will be held. To access the presentation through webcast, please use this link: https://tv.streamfabriken.com/getinge-q1-2021

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-q1-2021

Media contact:

Lars Mattson, Head of Investor Relations
Tel: +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 and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, on April 20, 2021, 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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