Getinge Year-End Report January-December 2016

2017.01.26

FOURTH QUARTER OF 2016 IN BRIEF

  •  Order intake increased by 3.1% to SEK 8,582 M (8,326). The order intake declined organically by 1.1%.
  •  Net sales increased by 1.1% to SEK 9,523 M (9,417). Net sales fell organically by 2.3%.
  •  Gross margin fell to 46.1% (47.2).  
  •  EBITA* improved by 2.6% to SEK 1,970 M (1,920).
  •  Restructuring and integration costs rose to SEK 321 M (174).
  •  Profit before tax decreased by 5.8% to SEK 1,292 M (1 371).
  •  Earnings per share decreased to SEK 3.96 (4.02).
  •  Increased cash flow: SEK 1,783 M (1,483), making the cash conversion 80.4% (68.5). 
  •  Savings of SEK 140-150 M via the Big 5 efficiency-enhancement program.
  •  Mattias Perjos appointed new CEO of the Group. He will take office on March 27, 2017.
  •  After the end of the quarter: New management of Patient & Post-Acute Care appointed, as part of the preparations for the proposed distribution.

JANUARY-DECEMBER 2016 IN BRIEF

  •  Order intake fell by 1.0% to SEK 30,142 M (30,431). The order intake declined organically by 0.8%.
  •  Net sales fell by 1.6% to SEK 29,756 M (30,235). Net sales decreased organically by 1.5%.
  •  Gross margin was 46.5% (46.8).
  •  EBITA* increased by 3.9% to SEK 4,341 M (4,179).
  •  Restructuring and integration costs rose to SEK 1,313 M (657).
  •  Profit before tax decreased by 17.4% to SEK 1,650 M (1,997).
  •  Earnings per share decreased to SEK 4.98 (5.83).
  •  Savings of SEK 395-420 M via the Big 5 efficiency-enhancement program.
  •  Continued remediation activities related to the Consent Decree with the FDA.
  •  Management changes: A new CEO, CFO and EVP HR.  
  •  Preparation of proposed distribution of Patient & Post-Acute Care to shareholders not later than the first quarter of 2018.
  •  A dividend per share of SEK 2.00 (2.80) is proposed, corresponding to SEK 477 M (667). 
  •  Outlook for 2017: Slightly positive organic sales growth for the full-year.

FINANCIAL SUMMARY

MSEK Q4 2016 Q4 2015 Change % Jan-Dec2016 Jan-Dec2015 Change %
Order intake 8 582  8 326  3.1%  30 142  30 431  -1.0% 
Net sales 9 523  9 417  1.1%  29 756  30 235  -1.6% 
Gross Profit 4 387  4 449  -1.4%  13 840  14 163  -2.3% 
Gross margin 46.1%  47.2%  -1.1%  46.5%  46.8%  -0.3% 
EBITA* 1 970 1 920 2.6% 4 341 4 179 3.9%
EBITA margin* 20.7% 20.4% 0.3% 14.6% 13.8% 0.8%
Operating profit 1 449  1 545  -6.2%  2 287  2 729  -16.2% 
Profit before tax 1 292  1 371  -5.8%  1 650  1 997  -17.4% 
Net profit 952  999  -4.7%  1 213  1 457  -16.7% 
Earnings per share, SEK 3.96  4.02  -1.5%  4.98  5.83  -14.6% 
Cash flow from operations 1 783  1   483  20.2%  3 671  3 458  6.2% 

* before restructuring, acquisition and integration cost                                       

 

For further information, please contact:

Joacim Lindoff                                                                                                    Kornelia Rasmussen
Acting President & CEO                                                                                     Executive Vice President Group Communications
Tele: +46 (0)10 335 32 10                                                                                  Phone: +46 (0)10 335 58 10
E-mail: Joacim.lindoff@getinge.com                                                                 E-mail: kornelia.rasmussen@getinge.com 

This information is information 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, at 1:00 p.m. CET on January 26, 2017. 

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