Press release Gothenburg, Sweden, on June 14, 2022
Getinge revises down its outlook for 2022 – long-term financial targets unchanged
Getinge is revising down its 2022 outlook for organic net sales growth. The new outlook for organic net sales is expected to be in line with actual net sales 2021. This is a result of accelerated external challenges from the end of the first quarter. Getinge's long-term financial targets for organic growth of 4-6% remain unchanged.
Getinge’s previous outlook for 2022 was at the upper end of 4-6%. Due to external challenges, the outlook is now revised down in line with year 2021 level. The two main challenges are a mild flu season globally, which means reduced demand for products for ECMO therapy and a rapidly reduced production of COVID-19 vaccines, to which Getinge supplies Sterile Transfer products. In addition, revenue growth is negatively impacted by the lockdowns in key parts of China, which have amplified supply chain disruptions, Russia's invasion of Ukraine, and a shortage of health care providers in the field of elective surgery.
Lower volumes and an unfavorable product mix are expected to have a 1-2 percentage points negative impact on the EBITA margin in 2022.
For 2022, Getinge's financial position is expected to remain strong, with low net debt and positive operating cash flow. For the coming years, the underlying demand is expected to be strong and Getinge's long-term financial targets remain unchanged.
This outlook and the figures presented herein have not been reviewed by the company’s auditor. Getinge will publish its Interim Report January – June 2022 on July 19, 2022.
Phone Conference
A conference call will be held on June 14, 2022, at 7:00-7:30 PM CEST hosted by Mattias Perjos, President & CEO, and Lars Sandström, CFO. Please see dial in details below to join the conference:
SE: +46 8 505 583 57
UK: +44 33 33 009 263
US: +1 646 722 4957
During the conference call a presentation will be held. To access the presentation through webcast, please use this link: https://tv.streamfabriken.com/pressconference-june
Alternatively, use the following link to download the presentation: https://www.getinge.com/int/about-us/investors/reports-presentations/
Media contact:
Lars Mattson, Head of Investor Relations
Tel: +46 (0)10 335 0043
Email: lars.mattsson@getinge.com
Anna Appelqvist, Vice President Corporate Communications
Tel: +46 (0)10 335 5906
Email: anna.appelqvist@getinge.com
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 persons set out above, on June 14, 2022, at 6:18 PM 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.