Getinge Interim Report for January-March 2020: Intense Efforts to Help Hospitals in the COVID-19 Pandemic

Author: Getinge / 2023-07-23 21:42 / Source: Getinge

Getinge Interim Report for January-March 2020: Intense Efforts to Help Hospitals in the COVID-19 Pandemic

GOTHENBURG,Sweden,April 22,2020 -- "The quarter was dominated by the COVID-19 pandemic and the huge need for advanced ventilators and ECMO therapy at intensive care units around the world. Our leading global positions in these fields contributed to a 47% organic order growth,says Mattias Perjos,President & CEO Getinge. "We expect to see continuing strong demand in both areas since demand is far outstripping supply".

Consequently,Getinge announced at the start of April an increased production capacity of ventilators by 160% compared with 2019. Getinge expects the high delivery rate to continue into 2021 and subsequently gradually return to past levels. Getinge has also decided to make additional investments to successively increase production capacity for life supporting equipment,also known as extracorporeal membrane oxygenation (ECMO).

At the same time as the order intake significantly increased in Acute Care Therapies,the order intake for the quarter declined in Life Science and Surgical Workflows as a result of COVID-19 and decreased surgeries outside the intensive care units. For this reason,Getinge has made certain cost adjustments and have contingency in place to further adjust costs if necessary.

"All in all,margins were positively impacted by higher volumes,an advantageous product mix,operational leverage and currency effects. The cash flow and cash balances were further strengthened",says Mattias Perjos.

January - March 2020 in brief

Net sales increased organically by 3.8% and the order intake rose by 47.2% organically,as a result of higher demand for products for treating patients diagnosed with COVID-19.

Adjusted gross profit amounted to SEK 3,218 M (2,825) and the margin was 53.3% (50.9).

Adjusted EBITA amounted to SEK 661 M (369) and the margin was 11.0% (6.7).

Adjusted earnings per share amounted to SEK 1.41 (0.64).

Cash flow after net investments amounted to SEK 988 M (139)

Telephone conference

A conference call will be held on April 22,2029,at 09:30-10:30 am CEST hosted by Mattias Perjos,President & CEO,and Lars Sandström,CFO. Please see dial in details below to join the conference:

SE: +46-856642693

UK: +44-3333009268

US: +1-8332498403

During the conference call a presentation will be held. To access the presentation through webcast,please use this link: https://tv.streamfabriken.com/getinge-q1-2020

Alternatively,use the following link to download the presentation: https://www.getinge.com/int/about-us/investors/reports-presentations.

Agenda

09:15 Dial in to the conference

09:30 Presentation

10:00 Q&A

10:30 End of conference

Recording available for 3 years

A recorded version can be accessed for 3 years via https://tv.streamfabriken.com/getinge-q1-2020

Media contact:

Lars Mattson,Head of Investor Relations

Tel: +46 (0)10-335-0043

Email:lars.mattsson@getinge.com

This information is such that Getinge AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication,through the agency of the contact person set out above,on April 22,2019,at 08:00 a.m. CEST.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/getinge/r/getinge-interim-report-for-january-march-2020--intense-efforts-to-help-hospitals-in-the-covid-19-pan,c3093980

The following files are available for download:

https://mb.cision.com/Main/942/3093980/1233641.pdf

Getinge Interim Report January - March 2020

https://news.cision.com/getinge/i/getinge-ab---solna-servo-u,c2776631

Getinge AB - Solna Servo-u

https://news.cision.com/getinge/i/getinge-ab---solna-ventilator-manufacturing,c2776632

Getinge AB - Solna Ventilator manufacturing

https://news.cision.com/getinge/i/getinge-ab---ventilator-service---lei-ming,c2776633

Getinge AB - Ventilator service - Lei Ming

https://news.cision.com/getinge/i/getinge-ab----solna,c2776634