Third quarter of 2016 in brief
· Order intake decreased 3.0% to SEK 7,176 M (7,397). The order intake
declined organically by 3.2%.
· Net sales increased 0.1% to SEK 6,929 M (6,925). Net sales increased
organically by 0.2%.
· Gross margin increased to 47.3% (46.8).
· EBITA* improved 16.3% to SEK 963 M (828).
· Restructuring costs increased to SEK 732 M (213). SEK 628 M comprises a
provision for the FDA-related remediation program, write-down of an R&D project
and costs for changes among senior executives.
· Profit before tax decreased 146.2% to SEK -110 M (238), due to increased
restructuring costs.
· Earnings per share decreased to SEK -0.36 (0.73).
· Good cost control as a consequence of the efficiency-enhancement program,
Big 5.
· Changes to Getinge Executive Team, Acting CEO, new CFO and HR Director.
· FDA update, SEK 400 M provision related to the remediation program.
· Changed outlook, moderately negative sales growth for the full year.
· Key event after the reporting period, further developed and focused
strategy, and preparation for distribution of Patient & Post-Acute Care to
shareholders of Getinge.
January-September 2016 in brief
· Order intake decreased 2.5% to SEK 21,560 M (22,105). The order intake fell
organically by 0.7%.
· Net sales decreased 2.8% to SEK 20,233 M (20,818). Net sales fell
organically by 1.1%.
· Gross margin amounted to 46.7% (46.7).
· EBITA* improved 4.9% to SEK 2,371 M (2,260).
· Restructuring costs increased to SEK 992 M (483).
· Profit before tax decreased 42.8% to SEK 358 M (626).
· Earnings per share decreased to SEK 1.03 (1.81).
Financial summary
MSEK Q3 Q3 Change Jan-Sep Jan-Sep 2015 Change % FY2015
2016 2015 % 2016
Order intake 7 176 7 397 -3.0% 21 560 22 105 -2.5% 30 431
Net sales 6 929 6 925 0.1% 20 233 20 818 -2.8% 30 235
Gross Profit 3 275 3 240 1.1% 9 453 9 713 -2.7% 14 163
Gross margin 47.3% 46.8% 0.5% 46.7% 46.7% 0.0% 46.8%
EBITA* 963 828 16.3% 2 371 2 260 4.9% 4 179
EBITA 13.9% 12.0% 1.9% 11.7% 10.9% 0.8% 13.8%
margin*
Operating 49 421 -88.4% 838 1 184 -29.2% 2 729
profit
Profit -110 238 -146.2% 358 626 -42.8% 1 997
before tax
Net profit -81 174 -146.6% 261 457 -42.9% 1 457
Earnings per -0.36 0.73 -149.3% 1.03 1.81 -43.1% 5.83
share, SEK
Cash flow 724 0.1% 1 888 1 974 -4.4% 3 458
from 725
operations
* before restructuring, acquisition and integration
cost
For further information, please contact:
Kornelia Rasmussen
Executive Vice President Group Communications
Phone: +46 (0)10 335 58 10
E-mail: kornelia.rasmussen@getinge.com
Getinge Group is a leading global provider of innovative solutions for operating
rooms, intensive-care units, hospital wards, sterilization departments, elderly
care and for life science companies and institutions. Getinge’s unique customer
offering mirrors the hospital’s organization and value chain, and the solutions
are used before, during and after the patients’ hospital stay. Based on first
-hand experience and close partnerships, Getinge provides innovative healthcare
solutions that improve every-day life for people, today and tomorrow.
This information is information 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, at 13:00
p.m. CET on October 18, 2016
Getinge Interim Report January-September 2016
| Source: Getinge AB
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