Getinge Q3 Report 2021: "Strong order intake and our remediation measures completed in Germany"

GOTHENBURG, Sweden, Oct. 20, 2021 /PRNewswire/ -- "Organic order intake increased by more than 20% in the third quarter, with a strong performance in all business areas and regions," says Mattias Perjos, President & CEO at Getinge. "Our cash flow remains strong, meaning that we have strengthened our solid financial position."

Getinge's order growth was strong compared with both 2019 and 2020. As expected, net sales declined year on year due to record-breaking deliveries of ICU ventilators in Q3 2020. Compared with Q3 2019, sales increased significantly as a result of continuing high demand for products for life supporting ECMO therapy, bioreactors and products for Sterile Transfer, combined with continuing high sales of ventilators and a general recovery in other areas of the business.

"We achieved a milestone during the quarter when we completed our remediation measures under the Consent Decree with the FDA at our production site in Hechingen, Germany", says Mattias Perjos. "This does not mean that we automatically are out of the Consent Decree, but that all production sites covered by the Consent Decree can focus all their energy on forward-looking activities related to customer value and growth."

Getinge's underlying EBITA margin excluding COVID-19 effects continues to improve due to structural mix shift and enhanced productivity.

July – September 2021 in brief

• The order intake increased organically by 21.8% and net sales declined organically by 20.1%.
• Adjusted gross profit amounted to SEK 3,334 M (4,378) and the gross margin was 52.9% (54.9).
• Adjusted EBITA amounted to SEK 1,160 M (2,028) and the EBITA margin was 18.4% (25.4).
• Adjusted earnings per share amounted to SEK 2.96 (5.37).
• Cash flow after net investments amounted to SEK 1,380 M (1,567).

Phone Conference

A conference call will be held on October 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: + 46 8 566 426 92
UK: + 44 33 33 009 265
US: + 1 646 722 4903

During the conference call a presentation will be held. To access the presentation through webcast, please use this link: https://tv.streamfabriken.com/getinge-q3-2021

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-q3-2021

Media contact:

Lars Mattson, Head of Investor Relations
Tel: +46 (0)10 335 0043
Email: [email protected]

This information is such 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, on October 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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SOURCE Getinge