Getinge AB Class B · OMXSTO:GETI_B
Getinge AB Class B — Q1 2015 Earnings Presentation
18 slides from Getinge AB Class B's earnings presentation, Apr 20, 2015
Slide 1: Interim Report January – March 2015
Interim Report January – March 2015 Alex Myers, CEO and Ulf Grunander, CFO April 20, 2015
Slide 2: Getinge Group Q1 - Summary
Getinge Group Q1 - Summary ORDER INTAKE, % NET SALES, MSEK (organic) 6712 Order intake on a satisfactory level 2,2 5632 Medical Systems posted positive development, while Extended Care and Infection Control posted weaker performances 0,3 Net sales +19,2% Q1-14 Q1-15 Q1-14 Q1-15 1,4 % when ad
Slide 3: Medical Systems Q1 - Summary
Medical Systems Q1 - Summary Strong order intake in Q1 ORDER INTAKE, % (organic) NET SALES, MSEK Positive development in WE (5,6 %) and 3431 NA (10,3 %) 5,2 2819 Gross margin decrease Low utilization of capital goods plants Q1-14 Q1-15 Q1-14 Q1-15 Negative currency effects Challenges in
Slide 4: Extended Care Q1 - Summary
Extended Care Q1 - Summary ORDER INTAKE, % NET SALES, MSEK Order intake (organic) Weak development in WE (-3,1%) and NA (-8%) Xxxxxxxx RoW +17,8 % 0,9 1695 1973 Gross margin decrease Xxxxxxxxxxxxxxx Product mix Q1-14 Q1-15 Xxxxxxxxxxxxxxxx Negative currency effects Q1-14 Q1-15 EB
Slide 5: Infection Control Q1 - Summary
Infection Control Q1 - Summary ORDER INTAKE, % NET SALES, MSEK (organic) Order intake 8,9 Xxxxxxxx Satisfactory order growth in WE (2,2%) and RoW (6,0%) Xxxxxxxxxxxxxxx BRIC-countries continue to be challenging 1308 Disappointing development in NA (-5,5%) 0,9 1117 Xxxxxxxxxxxxxxxx Lo
Slide 6: FDA Update
FDA Update Consent Decree signed by judge February 3, 2015 Efforts in customer relations incl. clarification of the Consent Decree and Certificate Medical Necessity Remediation program is progressing according to plan Financial impact in Q1 – SEK 100 m (of which SEK 50 m EBITA and SEK 50 m restructu
Slide 7: Initial Priorities & Focus Areas New CEO
Initial Priorities & Focus Areas New CEO Get to know the organization and the people Ensure 2015 plans are delivered Develop a Performance Improvement Plan Present the plan incl. new financial targets on Capital Markets Day
Slide 8: Getinge Group Consolidated Results
Getinge Group Consolidated Results 2015 2014 Q1 Q1 Change % Net sales, SEK M 6 712 5 632 19,2% Gross margin 46,8% 49,3% -2,5 % Operating cost, SEK M -2 615 -2 254 16,1 % EBITA before restructuring 717 670 EBITA margin 10,7% 11,9% Restructuring & integration costs - 183 - 814 Net financial items -189
Slide 9: FDA Financial Impact
FDA Financial Impact First quarter, 2015 SEK million EBITA result -50 Restructuring charges -50 Operating profit -100 2014 SEK million Provision, 1st quarter 799 Currency effect, 3rd quarter 21 Additional provision, 4th quarter 175 Total 995 Completed remediation activities 2014, provision utilized
Slide 10: Restructuring Charges Q1 & FY 2015
Restructuring Charges Q1 & FY 2015 Restructuring charges amount to SEK 183 m in Q1 2015 Medical Systems – SEK 69 million Payment to US Government – Consent Decree (SEK 50 m) Restructuring of R&D within Cardiac Surgery (SEK 10 m) Extended Care – SEK 91 million Resturcturing program for impr
Slide 11: FX effects Q1
FX effects Q1 SEK m Transaction Translation Total effects effects EBITA -46 122 76 EBIT -46 48 2 Profit before tax -46 21 -25
Slide 12: FX effects FY 2015
FX effects FY 2015 SEK m Transaction Translation Total effects effects EBITA -250 510 260 EBIT -250 340 90 Profit before tax -250 240 -10
Slide 13: Financials Q1
Financials Q1 2015 2014 Q1 Q1 Cash flow from operation, SEK million 654 438 Cash conversion, % 69,8% 44% * Net Debt, SEK million 23 526 20 171 Equity, SEK million 18 577 15 404 Equity / assets ratio, % 33,4% 34,0% Net debt / equity ratio, multiple 1,27 1,31 *Adjusted for the provision of SEK 799 m f
Slide 14: Outlook 2015
GETINGE GROUP Outlook 2015
Slide 15: Outlook 2015
Outlook 2015 Organic revenue growth is expected to improve in 2015 The outcome of the ongoing discussions with the US FDA is expected to have a negative financial impact of approx. SEK 500 m on operating profit for 2015. FX effects are expected to negatively impact 2015 pre-tax earnings in the
Slide 16: Getinge Group
GETINGE GROUP
Slide 17: 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
Slide 18: Thank you!
Thank you! Getinge Group is a leading global provider of equipment and systems that contribute to quality enhancement and cost efficiency within healthcare and life sciences. We operate under the three brands of Arjohuntleigh, Getinge and Maquet. Page 18