Getinge Year-End Report January-December 2016

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Getinge Group

26 Jan, 2017, 12:19 GMT

GOTHENBURG, Sweden, Jan 26, 2017 /PRNewswire/ --

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 SEK3.96 (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 thequarter: 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 by3.9% 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                                                                                                                                                       
Acting President & CEO                                                                                                                                             
Tele: +46 (0)10 335 32 10                                
E-mail: Joacim.lindoff@getinge.com 

Kornelia Rasmussen
Executive Vice President Group Communications
Phone: +46 (0)10 335 58 10
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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