Getinge AB (STO:GETIB)
Reporting period January - June
• Orders received declined by 7.2% to SEK 10,395 M (11,204) but increased organically by 2.2%
• Net sales declined by 8.4% to SEK 9,634 M (10,512) but increased organically by 1.1%
• Profit before tax declined by 0.3% to SEK 1,223 M (1,227)
• Net profit increased by 1.7% to SEK 905 M (890)
• Earnings per share increased by 1.5% to SEK 3.78 (3.72)
• Orders received grew organically by 3.3% during the second quarter
• Favourable EBITA margin growth during the period
• The Group is raising the objective for the EBITA margin from 20% to 22%
• New credit agreement totalling EUR 1,200 M
• Continued favourable earnings outlook for 2011
Second quarter 2011
Orders received
Orders received by the Group continued to improve and increased organically during the quarter by 3.3%. Medical Systems and Infection Control, which noted strong growth in order bookings during the corresponding period in the preceding year, both developed favourably, with organic order growth of 4.5% and 7.7%, respectively. Extended Care reported a 2.6% decline in organic order growth. Extended Care's weak growth in orders received was due to the business trend in the UK, which was weaker than anticipated during the first six months of the year.
From a geographic perspective, the orders received by the Group during the quarter developed as expected in relation to business development during the corresponding quarter in the preceding year, with the exception of Extended Care's activities in the UK.