Getinge Ab Class B · OMXSTO:GETI_B
Getinge Ab Class B — Q1 2014 Earnings Presentation
14 slides from Getinge Ab Class B's earnings presentation, Apr 16, 2014
Slide 1: Interim report January – March 2014
GETINGE GROUP Interim report January – March 2014 April 16, 2014 Johan Malmquist, CEO Ulf Grunander, CFO
Slide 2: Trends in organic order intake
Q1 2014 Trends in organic order intake 2014 Q1 MS EC IC TOT Europe 3.6 % 0.2 % 15.6 % 5.0 % USA and Canada -1.5 % -0.9 % 11.9 % 1.0 % Rest of the world -10.1 % 8.3 % -2.2 % -6.1 % Total -3.4 % 0.9 % 8.9 % 0.3 % Q1 REPORT 2014
Slide 3: Consolidated results
Q1 2014 Consolidated results 2014 2013 Q1 Q1 Change % Net sales, SEK M 5 632 5 664 -0.6% Gross margin 49.3 % 50.3 % -1.0 % Operating cost, SEK M -2 254 -2 210 2.0 % EBITA before restructuring 670 792 -15.4 % EBITA margin 11.9 % 14.0 % -2.1 % Restructuring expenses -814 - 240 Net financial items -158
Slide 4: Medical Systems
Q1 2014 Medical Systems 2014 2013 Q1 Q1 Change % 2 819 2 804 0.5 % Net sales, SEK M 55.1 % 57.1 % -2.0 % Gross margin % Operating cost, SEK M -1 306 -1 288 1.4 % EBITA before restructuring 360 429 -16.1 % EBITA margin 12.8 % 15.3 % -2.5 % Q1 REPORT 2014
Slide 5: Medical Systems Highlights
Q1 2014 - Medical Systems Highlights Medical Systems strengthens its quality management systems A provision of SEK 799 M has been accounted for in the quarter, of which SEK 81 M relates to expenses during the quarter Getinge secured 78.26% of the outstanding shares in Pulsion Medical Systems.
Slide 6: Extended Care
Q1 2014 Extended Care 2014 2013 Q1 Q1 Change % 1 695 1 721 -1.5 % Net sales, SEK M 48.8 % 47.8 % 1.0 % Gross margin % Operating cost, SEK M -616 -559 10.2 % EBITA before restructuring 241 295 -18.3 % EBITA margin 14.2 % 17.1 % -2.9 % Q1 REPORT 2014
Slide 7: Extended Care Highlights
Q1 2014 – Extended Care Highlights Discontinuation of manufacturing facility in Eslöv, Sweden, was completed and production has been moved to Poznan, Poland. Integration of TSS is expected to be completed during H1 and cost synergies will be fully reflected in 2015. Innovative shower trolley,
Slide 8: Infection Control
Q1 2014 Infection Control 2014 2013 Q1 Q1 Change % 1 117 1 139 -1.9 % Net sales, SEK M 35.5 % 37.7 % -2.2 % Gross margin % Operating cost, SEK M -331 -364 -9.1 % EBITA before restructuring 70 69 1.4 % EBITA margin 6.3 % 6.1 % 0.2 % Q1 REPORT 2014
Slide 9: Infection Control Highlights
Q1 2014 – Infection Control Highlights The efficiency-enhancement program to improve the business area’s profitability is proceeding as planned. Negotiations initiated with trade unions to concentrate the production of Life Science sterilizers to Getinge, Sweden, and consequently discontinue the
Slide 10: Financials Q1
Financials Q1 2014 2013 Q1 Q1 Cash flow from operation, SEK M 438 366 Cash conversion, % 44.0 % 42.5 % Net Debt, SEK M 20 171 18 395 Equity, SEK M 15 404 15 052 Equity / assets ratio, % 34.0 % 35.1 % Net debt / equity ratio, multiple 1.31 1.22 Q1 REPORT 2014
Slide 11: Outlook
GETINGE GROUP SSS OUTLOOK 2014
Slide 12: Outlook 2014
Outlook 2014 • Organic revenue growth is expected to be comparable to 2013 levels at approximately 4 %. • Restructuring costs are estimated to amount to approx. SEK 960 M for 2014, of which SEK 799 M is attributable to the costs of consultant support for enhancing the quality management system withi
Slide 13: Q&A
GETINGE GROUP SSS Q&A
Slide 14: Forward-looking information
Forward-looking information This document contains forward-looking information based on the current expectations of the Getinge Group’s management. Although management deems that the expectations presented by such forward-looking information are reasonable, no guarantee can be given that these expec