"Order intake and net sales declined organically by 5% and 7.5% respectively in the quarter, which however ended with increased order intake," says Mattias Perjos, President & CEO. "Our customers are planning for a normal flu season in the second half of the year, which is expected to result in a recovery in ICU products".
The performance for the quarter as a whole was impacted by reduced production of COVID-19 vaccines and the number of patients requiring life support in Intensive Care Units (ICUs) declining significantly more than both the health care sector and Getinge had predicted, combined with a milder flu season. In addition, Getinge was impacted negatively by the Russian invasion of
"Acute Care Therapies decreased its net sales organically, while both Life Science and Surgical Workflows grew," says Mattias Perjos, President & CEO. "Net sales increased in products for elective cardiovascular procedures, infrastructure for ORs and sterile supply departments in hospitals and products for drug manufacturing".
During the quarter, Getinge completed an internal investigation related to potential violations of German Medical Device Act. Five current and former Getinge employees are being investigated for these potential violations by the public prosecution office in
Getinge noted favorable currency effects on earnings in the quarter, but margins remained intact even excluding this, given lower volumes, unfavorable mix effects and negative effects from supply chain challenges.
April - June 2022 in brief- Net sales declined organically by 7.5% and the order intake declined organically by 5.0%.
-
Adjusted gross profit amounted to
SEK 3,355 M (3,624) and the margin was 50.3% (55.0). -
Adjusted EBITA amounted to
SEK 956 M (1,250) and the margin was 14.3% (19.0). -
Adjusted earnings per share amounted to
SEK 2.33 (3.04). -
Cash flow after net investments amounted to
SEK 129 M (1,228). -
Changes to Getinge Executive Team:
Lena Hagman will leave Getinge and her role as EVP Quality Compliance, Regulatory & Medical Affairs by the end of the year at the latest. On July 14 , Agneta Palmér was appointed EVP Operational Services. She will take up the position on September 15 .
A conference call will be held on
SE: +46-8-5051-6386
US: +1-412-317-6300
Use the following pin code: 1863734#
During the conference call a presentation will be held. To access the presentation through webcast, please use this link: https://tv.streamfabriken.com/getinge-q2-2022
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-q2-2022
Media contact:
Tel: +46 (0)10 335 0043
Email: lars.mattsson@getinge.com
This information is such that
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.
https://news.cision.com/getinge/r/getinge-interim-report-january-june-2022--recovery-in-elective-surgery-overshadowed-by-external-chal,c3602854
https://mb.cision.com/Main/942/3602854/1605731.pdf
https://mb.cision.com/Public/942/3602854/ae9310a862d2db85.pdf
https://news.cision.com/getinge/i/mattias-perjos---president---ceo-getinge,c3071427
(c) 2022 Cision. All rights reserved., source