Getinge Ab Class B · OMXSTO:GETI_B

Getinge Ab Class B — Investor Day (February 2013)

25 slides from Getinge Ab Class B's investor day presentation, Feb 8, 2013

  1. Slide 1: Getinge Group Financials - Capital Market Day

    GETINGE GROUP FINANCIALS Capital Market Day Stockholm, 8 February 2013 Ulf Grunander, CFO Getinge Group

  2. Slide 2: Agenda: financial results, cash flow, working capital, restructuring, net debt, currency

    1 FINANCIAL RESULTS 2012 2 CASH FLOW 3 WORKING CAPITAL 4 PLANNED RESTRUCTURING CHARGES 5 NET DEBT 6 GROUP CURRENCY EFFECTS CAPITAL CAPITAL MARKET MARKET DAYDAY 2013 2013

  3. Slide 3: Trends in organic order intake 2012

    Trends in organic order intake 2012 . MeSy EC IC TOTAL Cap Eq Rec Rev -10 % 3% Western Europe -4.9 % -2.6 % -2.3 % -3.5 % USA and Canada 6.1 % -8.4 % 0.6 % 0.7 % -6 % 5% Rest Of the World 16.2 % 10.8 % 6.1 % 13.1 % 15 % 9% Total: 6.1 % -2.4 % 1.0 % 2.7 % 1% 5% CAPITAL CAPITAL MARKET MARKET DAYDAY 20

  4. Slide 4: Financials Getinge Group

    Financials Getinge Group MSEK 2012 YTD 2011 YTD Change % Net sales 24 248 21 854 11.0 Organic Revenue Growth 2.8 % 4.2 % -1.4 EBITA 4 849 4 571 6.1 EBITA % 20.0% 20.9% -0.9 CAPITAL CAPITAL MARKET MARKET DAYDAY 2013 2013

  5. Slide 5: Agenda: cash flow

    1 FINANCIAL RESULTS 2012 2 CASH FLOW 3 WORKING CAPITAL 4 PLANNED RESTRUCTURING CHARGES 5 NET DEBT 6 GROUP CURRENCY EFFECTS CAPITAL CAPITAL MARKET MARKET DAYDAY 2013 2013

  6. Slide 6: Cash conversion in target range

    Cash conversion in target range 100% 90% 90% 81% 80% 70% 65% 64% Target range: 60 – 70% 60% 50% 46% 40% 30% 2008 2009 2010 2011 2012 CAPITAL CAPITAL MARKET MARKET DAYDAY 2013 2013

  7. Slide 7: Key Operating Cash Flow achievements in 2012

    4 Key Operating Cash Flow achievements in 2012 □ Overall favorable Accounts Receivable management especially in Italy and USA □ Improved collection of overdue Accounts Receivable □ Successful finished goods inventory management and improved logistics efficiency □ Production consolidation & successfu

  8. Slide 8: Operating cash flow (MSEK)

    Operating cash flow (MSEK) 5 000 4 000 4 124 Comments 4 000 3 687 3 496  Solid operating cash flow progress in 2012 +5,3% vs. 2011 3 000 2 000 1 774 1 000 0 2008 2009 2010 2011 2012 CAPITAL CAPITAL MARKET MARKET DAYDAY 20138 2013

  9. Slide 9: Agenda: working capital

    1 FINANCIAL RESULTS 2012 2 CASH FLOW 3 WORKING CAPITAL 4 PLANNED RESTRUCTURING CHARGES 5 NET DEBT 6 GROUP CURRENCY EFFECTS CAPITAL CAPITAL MARKET MARKET DAYDAY 2013 2013

  10. Slide 10: Solid Working Capital Development

    Solid Working Capital Development Average WCap (bars) WCap Days (line) Going forward MSEK Days 9000 135  Efforts in 2013 to render improvements in 300 – 400 MSEK range 130 Comments 8000 122 125  Continued Working Capital progress despite challenging environment 7000 120 117  Working Capital devel

  11. Slide 11: Solid Working Capital Development (inventory, receivable, payable days)

    Solid Working Capital Development Inventory Days (DIO) Receivable Days (DSO) Payable Days (DPO) Days Days Days -6 days - 1 day + 1 day 143 74 54 141 142 73 52 139 72 50 137 72 135 136 71 48 71 133 47 70 46 131 46 69 44 129 127 68 42 125 67 40 YE11 YE12 YE11 YE12 YE11 YE12 CAPITAL CAPITAL MARKET MARK

  12. Slide 12: Capital Expenditure (Capex)

    Capital Expenditure (Capex) Capex Value (bars) Capex to Revenue (line) MSEK Percent Top Investments 1500 5,0%  Construction Atrium 100 m 4,0% 4,1% 4,0%  ERP system AH 90 m 3,5% 3,5% 1000 915 3,0% 989  SAP MESY 80 m 3,0% 766  ERP system INCO 50 m 667 659 2,0%  USCI 20 m 500 Comments 1,0%  Targe

  13. Slide 13: Agenda: planned restructuring charges

    1 FINANCIAL RESULTS 2012 2 CASH FLOW 3 WORKING CAPITAL 4 PLANNED RESTRUCTURING CHARGES 5 NET DEBT 6 GROUP CURRENCY EFFECTS CAPITAL CAPITAL MARKET MARKET DAYDAY 2013 2013

  14. Slide 14: Planned Restructuring Charges

    Planned Restructuring Charges (incl TSS & Atrium) Business 2013 2014 2015 2016 MSEK Area Medical 40 - - - Atrium: 15 Systems Others: 25 Extended 240 50 20 - TSS: 70 Care Others: 240 Infection 190 30 60 160 Others: 440 Control Total 470 80 80 160 expenses: Cash 480 140 - 130 payments: CAPITAL CAPITAL

  15. Slide 15: Agenda: net debt

    1 FINANCIAL RESULTS 2012 2 CASH FLOW 3 WORKING CAPITAL 4 PLANNED RESTRUCTURING CHARGES 5 NET DEBT 6 GROUP CURRENCY EFFECTS CAPITAL CAPITAL MARKET MARKET DAYDAY 2013 2013

  16. Slide 16: Net debt

    Net debt MSEK 2012 2011 Net Debt 18 382 17 109 Change in Net Debt currency adjusted/acquisition -604 - 929 Net Debt / EBITDA 3.08 3.10 Net gearing 1.21 1.17 CAPITAL CAPITAL MARKET MARKET DAYDAY 2013 2013

  17. Slide 17: Interest bearing financial liabilities as of December 31, 2012

    Interest bearing financial liabilities as of December 31, 2012 millions Local currency MSEK Interest Rate Average Interest Rate 2012 Actual Forecast 2013 weighted USD 1 788 11 647 EUR 357 3 074 CAD 30 197 SEK 1 991 1 991 GBP 40 420 Other 196 Total 17 525 3,0% 3,1-3,2% CAPITAL CAPITAL MARKET MARKET D

  18. Slide 18: Getinge Average Interest Rate Debt Portfolio 2010-2013

    Getinge Average Interest Rate Debt Portfolio 2010-2013 2013 MSEK 2010 2011 2012 Estimate Average Interest Rate 3,40% 3,20% 3,0% 3,1-3,2% Hedge ratio fixed vs floating 80% 75% 80% 75% CAPITAL CAPITAL MARKET MARKET DAYDAY 2013 2013

  19. Slide 19: Maturity of debts

    Maturity of debts Lender/Facility 2013 2014 2015 2016 2017 2018 2019 2020 Syndicated Credit Facility with 10 banks 1 200 MEUR July July July Term loan Mediobanca October 135 MEUR 825 MEUR Swedish Bond Loan May 1 000 MSEK/140 MUSD Nordic Investment Bank Sep Sep 90 MUSD Mizuho Term Loan May 75 MUSD 60

  20. Slide 20: Agenda: group currency effects

    1 FINANCIAL RESULTS 2012 2 CASH FLOW 3 WORKING CAPITAL 4 PLANNED RESTRUCTURING CHARGES 5 NET DEBT 6 GROUP CURRENCY EFFECTS CAPITAL CAPITAL MARKET MARKET DAYDAY 2013 2013

  21. Slide 21: Group currency effects 2012 – 2013

    Group currency effects 2012 – 2013 Estimates 2013 Actual 2012 USD 6.65 6.78 EUR 8.65 8.71 GBP 10.70 10.74 JPY 8.30 8.50 Translation -55 +35 Hedging -130 +95 Financial net +15 +/-0 Total -170 +130 CAPITAL CAPITAL MARKET MARKET DAYDAY 2013 2013

  22. Slide 22: Currency effects per Business Area 2012 – 2013

    Currency effects per Business Area 2012 – 2013 Medical Medical Extended Extended Infection Infection Systems Systems Care Care Control Control Est 2013 Act 2012 Est 2013 Act 2012 Est 2013 Act 2012 Translation -36 7 -11 19 -8 9 Hedging -30 49 -20 28 -80 18 Total -66 56 -31 47 -88 27 CAPITAL CAPITAL M

  23. Slide 23: Net currency effects 2013 by major P/L line

    Net currency effects 2013 by major P/L line MSEK Gross profit -253 EBITA before restructuring -191 EBIT -185 Profit before tax -170 CAPITAL CAPITAL MARKET MARKET DAYDAY 2013 2013

  24. Slide 24: Currency exposure 2013

    Currency exposure 2013 Currency rates used for Net remaining currency Currency exposure at group estimates 2013 exposure volumes in 5% change in currency 2013, million rates, MSEK USD 6.65 USD 170 +/- 55 EUR 8.65 EUR 125 +/- 55 GBP 10.70 GBP 60 +/- 30 JPY 8.30 JPY 1 160 +/- 5 CAPITAL CAPITAL MARKET

  25. Slide 25: Getinge Group - Q&A

    GETINGE GROUP \ Q&A

Getinge — Investor Day (February 2013) on 6ix