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Getinge Group Interim Report January - September 2015

2015-10-15

Getinge Group Interim Report January - September 2015

Third quarter in brief

  • Order intake increased by 15.3% to SEK 7,398 M (6,414), and grew organically by 5.2%.

  • Net sales rose by 11.2% to SEK 6,925 M (6,225). Net sales increased organically by 1.1%.

  • EBITA* declined by 10.0% to SEK 828 M (920).

  • Restructuring costs for the quarter amounted to SEK 213 M (62).

  • Profit before tax declined by 52.9% to SEK 238 M (505), mainly due to increased restructuring costs.

  • Earnings per share amounted to SEK 0.73 (1.54).

  • Continued focus on quality processes: the remediation program is proceeding according to plan, operating profit was charged with SEK 100 M related to the Consent Decree with the US FDA.

  • Comprehensive transformation program focusing on growth, efficiency and a new organization.


Financial summary

MSEK Q3 2015 Q3 2014 Change % Jan-Sep 2015 Jan-Sep 2014 Change % Rolling 12M FY 2014
Order intake 7 398 6 414 15.3% 22 105 19 042 16.1% 29 880 26 817
Net sales 6 925 6 225 11.2% 20 818 18 184 14.5% 29 303 26 669
Gross profit 3 240 3 046 6.4% 9 713 8 907 9.0% 13 916 13 110
Gross margin 46.8% 48.9% -2.1% 46.7% 49.0% -2.3% 47.5% 49.2%
EBITA*  828  920 -10.0% 2 260 2 496 -9.5% 4 265 4 501
EBITA margin* 12.0% 14.8% -2.8% 10.9% 13.7% -2.8% 14.6% 16.9%
Operating profit  421  675 -37.6% 1 184 1 094 8.2% 2 736 2 646
Profit before tax  238  505 -52.9%  626  602 4.0% 2 011 1 987
Net profit  174  368 -52.7%  457  439 4.1% 1 466 1 448
Earnings per share, SEK  0.73          1.54    -52.6%  1.81                 1.83    -1.1%              5.99               6.01   
Cash flow from operations     724  742 -2.4% 1 974 2 081 -5.1%               3 366             3 473

* before restructuring, acquisition and integration cost

MSEK Q3 2015 Q3 2014 Change % Jan-Sep 2015 Jan-Sep 2014 Change % Rolling 12M FY 2014
Order intake 7 398 6 414 15.3% 22 105 19 042 16.1% 29 880 26 817
Net sales 6 925 6 225 11.2% 20 818 18 184 14.5% 29 303 26 669
Gross profit 3 240 3 046 6.4% 9 713 8 907 9.0% 13 916 13 110
Gross margin 46.8% 48.9% -2.1% 46.7% 49.0% -2.3% 47.5% 49.2%
EBITA*  828  920 -10.0% 2 260 2 496 -9.5% 4 265 4 501
EBITA margin* 12.0% 14.8% -2.8% 10.9% 13.7% -2.8% 14.6% 16.9%
Operating profit  421  675 -37.6% 1 184 1 094 8.2% 2 736 2 646
Profit before tax  238  505 -52.9%  626  602 4.0% 2 011 1 987
Net profit  174  368 -52.7%  457  439 4.1% 1 466 1 448
Earnings per share, SEK  0.73          1.54    -52.6%  1.81                 1.83    -1.1%              5.99               6.01   
Cash flow from operations     724  742 -2.4% 1 974 2 081 -5.1%               3 366             3 473
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