Getinge AB

Equities

GETI B

SE0000202624

Medical Equipment, Supplies & Distribution

Market Closed - Nasdaq Stockholm Other stock markets 06:59:33 2024-05-08 am EDT			5-day change	1st Jan Change
232.5 ^SEK	-1.23%		-1.06%	+3.66%

May. 08	US FDA advises healthcare facilities to switch from Getinge's heart devices	RE
May. 08	US FDA recommends healthcare providers switch from Getinge's heart devices	RE

Getinge : Presentation Q1 2024

April 22, 2024 at 06:23 am EDT

Higher sales, strong cash flow and new products creating more customer value

Getinge Q1 2024

Mattias Perjos, CEO

Agneta Palmér, CFO

Key takeaways

Q1 2024

Net sales increased by 5.2% whereof 0.0% organically and order intake grew by 7.8% whereof 2.5% organically
Margins negatively impacted by quality related costs and higher costs for employees and input materials
Strengthened Free Cash Flow and solid financial position

34,000						32,199	55

32,000							50


0
	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024

R12M Net Sales, MSEK

Getinge │ Presentation │ Q1 Report 2024

February 1, 2024

				48.6
Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024

R12 Gross Margin (adj) %

					11.7
Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024

R12 EBITA Margin (adj) %

Key activities and events

Q1 2024

Offering and customers

510(k) for Hemopro 3, a new generation of our world-leading endoscopic vessel harvesting technology
Servo TwinView, which allows clinical staff to analyze data from ventilators without having to enter the sensitive environment of the ICU
Aquadis Index, a high-capacitywasher-disinfector
Strengthened our offering within BioProcessing

Sustainability and Quality

Continued quality improvement efforts in Cardiac Assist and Cardiopulmonary
- CE mark temporarily suspended for Intra-Aortic Balloon Pumps
- Submitted for CE mark approval for redesigned packaging of HLS-sets
Positive development within CO2 emissions

Getinge │ Presentation │ Q1 Report 2024

February 1, 2024

Organic order growth in all regions

Soft organic net sales in APAC mainly due to China

Global

Americas EMEA

APAC

+2.5%

Organic Order Growth

0.0%

Organic Net Sales Growth

Getinge │ Presentation │ Q1 Report 2024

February 1, 2024

Outlook 2024

Net sales for 2024 expected

to increase by 2-5% organically

(unchanged)

Getinge │ Presentation │ Q1 Report 2024

February 1, 2024

Organic order growth in all business areas

Order Intake Bridge Q1 2023 - Q1 2024

Organic change		+1.3%	+5.6%	+3.6%	+2.5%
			+7.8%	408

			191
		-17			8,059
	7,476
MSEK

	Q1 2023	Acute Care Therapies	Life Science	Surgical Workflows	Q1 2024

*CA: Cardiac Assist, CP: Cardiopulmonary

Getinge │ Presentation │ Q1 Report 2024

February 1, 2024

Healthy net sales contribution from acquisitions

Net Sales Bridge Q1 2023 - Q1 2024

Organic change		+0.9%	-9.2%	+2.4%	0.0%
			+5.2%	369

			29
		-27			7,513
MSEK	7,141

	Q1 2023	Acute Care	Life Science	Surgical	Q1 2024
		Therapies		Workflows

-95

Currency impact, MSEK

2.3

Organic growth, %

-4.1

Capital Recurring

Goods Revenue

Getinge │ Presentation │ Q1 Report 2024

February 1, 2024

Adj Gross Margin impacted by quality costs and inflation

Adjusted Gross Profit Bridge Q1 2023 - Q1 2024
Adj GM,%		60.2	40.5	41.7	51.3
Q1 2024
(Q1 2023)		(61.6)	(42.6)	(39.5)	(52.3)
			+3.3%	203

		-73	-7
MSEK	3,734				3,855


	Q1 2023	Acute Care	Life Science	Surgical	Q1 2024
		Therapies		Workflows
Getinge │ Presentation │ Q1 Report 2024
February 1, 2024

Gross Margin impact

Product and Geo mix

Supply, Absorption &

Cost inflation

Price

Currency

Adj EBITA margin negatively impacted by higher Adj OPEX

Adjusted EBITA Bridge Q1 2023 - Q1 2024
	13.6%				11.2%
		-13.4%
		121
		-156		40

		-119	-12		-5

MSEK	972					842

	Q1 2023	Adj Gross Adj Selling Adj Admin Adj R&D	Other	D&A	Q1 2024
		profit		OPEX
Getinge │ Presentation │ Q1 Report 2024
February 1, 2024

Margin development

-1.2 pp	Adj GP
-2.1 pp	Adj OPEX
+0.6 pp	FX
+0.3 pp	D&A

+43

Currency impact, MSEK

Stable Free Cash Flow and Working Capital days below 100

Capital efficiency a priority

Healthy Free Cash Flow

		1.1	1.0	0.9
	0.3

-0.7
Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024

Free Cash Flow, BSEK

200

150

100

WC days below 100	ROIC below trend, but still well
	above prepandemic levels

10.1%

7.5%

Q1 2019

Q1 2020

Q1 2021

Q1 2022

Q1 2023

Q1 2024

Q1 2020

Q1 2021

Q1 2022

Q1 2023

Q12024

Working Capital Days, R12M

Operating ROIC, R12M

Free Cash Flow: Cash flow from operating activities and investing activities, excluding acquisitions and divestment of operations Working Capital, as defined on this page, is including accounts receivables, accounts payables and inventory - adjusted for currency

ROIC: Trailing 12 month adjusted EBIT/Invested Capital. Invested capital is defined as Equity + Net debt (excl. pension liabilities) and calculated as (Opening balance + Closing balance of Invested Capital)/2

Getinge │ Presentation │ Q1 Report 2024

February 1, 2024

Attachments

Original Link
Original Document
Permalink

Disclaimer

Getinge AB published this content on 22 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 April 2024 10:22:33 UTC.

Latest news about Getinge AB

US FDA advises healthcare facilities to switch from Getinge's heart devices	May. 08	RE
US FDA recommends healthcare providers switch from Getinge's heart devices	May. 08	RE
Soltech Fires Up New Solar Park in Sweden	May. 03	MT
GETINGE : Q1 24: Investors look beyond the top-line miss	Apr. 24
Nordic Stocks Closed Up Monday; Getinge Series B Climbed Highest	Apr. 22	DJ
Getinge AB Declares A Dividend, Payable on 29 April 2024	Apr. 22	CI
Transcript : Getinge AB, Q1 2024 Earnings Call, Apr 22, 2024	Apr. 22
Medical gear maker Getinge's Q1 core profit beats expectations	Apr. 22	RE
Getinge AB Reaffirms Sales Guidance for the Year 2024	Apr. 22	CI
Getinge AB Reports Earnings Results for the First Quarter Ended March 31, 2024	Apr. 22	CI
Getinge’s Covered Stent System Gets EU Medical Device Regulation Certification	Apr. 11	MT
GETINGE : EPS cut (2023: +3.1%, 2024: -10.5%)	Apr. 04
Getinge AB Announces Barbro Fridén Declines Re-Election from the Board	Mar. 15	CI
Getinge AB Proposes Dividend, Payable on April 29, 2024	Mar. 15	CI
Getinge’s Endoscopic Vessel Harvesting System Gets US FDA 510(k) Clearance	Mar. 08	MT
Getinge Takes A Leap Forward in Cardiovascular Surgery with the 510(k) Clearance for Vasoview Hemopro 3	Mar. 08	CI
Global markets live: Boeing, Bayer, Super Micro Computer, Macy's...	Mar. 04
Getinge's CE Certificate for Cardiac Balloon Pump Temporarily Suspended	Mar. 01	MT
GETINGE : Q4 23: top-line beat is unconvincing	Feb. 05
Nordic Stocks Rose Thursday; Volvo Car Series B Led Increases	Feb. 01	DJ
Transcript : Getinge AB, 2023 Earnings Call, Feb 01, 2024	Feb. 01
U.S. Futures Mixed, European Stocks Fall Ahead of BOE Rate Decision	Feb. 01	DJ
Medical gear maker Getinge's Q4 lags, dividend rises	Feb. 01	RE
Getinge AB Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	Feb. 01	CI
Getinge AB Reports Earnings Results for the Full Year Ended December 31, 2023	Feb. 01	CI

Chart Getinge AB

Duration

Period

More charts

Company Profile

Getinge AB is the world's leader in producing and marketing medical equipment intended to health care facilities (clinics, hospitals, rest homes, etc.). Net sales break down by family of products as follows: - medical systems (57.4%): equipment for operating rooms (primarily tables and lighting systems), ventilators and heart and lung machines, etc.; - hospital sterilization equipment (29.4%); - contamination prevention equipment (13.2%): in the fields of biopharmaceutical production, biomedical research, manufacturing of medical devices and laboratory applications. Net sales break down by source of income into sales of equipment (45.3%), consumables (37.1%), services and spare parts (17.6%). At the end of 2021, the group had 20 production sites worldwide. Net sales are distributed geographically as follows: Sweden (1.8%), Europe/Middle East/Africa (35.8%), Americas (37.9%) and Asia/Pacific (24.5%).

Sector

Medical Equipment, Supplies & Distribution

Calendar

2024-05-15 - Capital Market Day

Related indices

STOXX EUROPE 600 (EUR)

More about the company

Income Statement Evolution

More financial data

Analysis / Opinion

GETINGE : Q1 24: Investors look beyond the top-line miss

April 24, 2024 at 02:06 am EDT

More Strategies

Ratings for Getinge AB

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

232.5 SEK

Average target price

235.5 SEK

Spread / Average Target

+1.29%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Medical Equipment

	1st Jan change	Capi.
GETINGE AB	+3.66%	5.81B
SHOCKWAVE MEDICAL, INC.	+73.46%	12.41B
PENUMBRA, INC.	-16.75%	7.87B
MASIMO CORPORATION	+5.93%	6.37B
JIANGSU YUYUE MEDICAL EQUIPMENT & SUPPLY CO., LTD.	+13.79%	5.36B
APT MEDICAL INC.	+40.99%	4.92B
ASAHI INTECC CO., LTD.	-19.73%	4.02B
INARI MEDICAL, INC.	-34.55%	2.43B
SKAN GROUP AG	+0.74%	2.02B
SHENZHEN YHLO BIOTECH CO., LTD.	+4.94%	1.97B

Medical Equipment