Press release Göteborg 2016-04-22
Getinge Interim Report January-March 2016
First quarter of 2016 in brief
- Order intake declined by 3.7% to SEK 6,924 M (7,192). The order intake declined organically by 2.0%.
- Net sales fell by 5.0% to SEK 6,377 M (6,712). Net sales fell organically by 3.2%.
- The gross margin increased to 47.2% (46.8).
- EBITA* fell by 13.5% to SEK 620 M (717).
- Restructuring and integration costs amounted to SEK 127 M (183).
- Profit before tax amounted to SEK 157 M (146), corresponding to an increase of 7.5%.
- Earnings per share amounted to SEK 0.46 (0.38).
- Good cost control – adjusted for exchange-rate effects, administrative and selling expenses declined by 4.4%.
- Cash conversion from operating activities amounted to 75.5% (69.8).
- The transformation program is progressing according to plan and efficiency initiatives are starting to generate results.
- New reporting structure for the Group with three new reporting segments based on the three Business Category Units Surgical Workflows, Acute Care Therapies and Patient & Post-Acute Care.
FINANCIAL SUMMARY
| MSEK | Jan-Mar 2016 | Jan-Mar 2015 | Change % | Rolling 12M | FY 2015 |
| Order intake | 6 924 | 7 192 | -3.7% | 30 163 | 30 431 |
| Net sales | 6 377 | 6 712 | -5.0% | 29 900 | 30 235 |
| Gross Profit | 3 011 | 3 142 | -4.2% | 14 032 | 14 163 |
| Gross margin | 47.2% | 46.8% | 0.4% | 46.9% | 46.8% |
| EBITA* | 620 | 717 | -13.5% | 4 082 | 4 179 |
| EBITA margin* | 9.7% | 10.7% | -1.0% | 13.7% | 13.8% |
| Operating profit | 316 | 335 | -5.7% | 2 710 | 2 729 |
| Profit before tax | 157 | 146 | 7.5% | 2 008 | 1 997 |
| Net profit | 115 | 107 | 7.5% | 1 465 | 1 457 |
| Earnings per share, SEK | 0.46 | 0.38 | 21.1% | 5.91 | 5.83 |
| Cash flow from operations | 700 | 654 | 7.0% | 3 504 | 3 458 |
* before restructuring, acquisition and integration cost