Slide 1: Getinge Group Interim Report January – December 2010
GETINGE GROUP Interim Report January – December 2010 26 January 2011 Johan Malmquist, CEO Ulf Grunander, CFO
Slide 2: Q4 2010 – Summary
Q4 2010 – Summary • Mixed demand situation in Western Europe • Continued strong demand in developing economies • FY EBITA margin near Group target • Restructuring of perfusion production • Promising development of recently launched FLOW-i and Cardiohelp GETINGE GROUP Q4 Report 2010 2
Slide 3: Q4 2010 - Trends in organic order intake
Q4 2010 - Trends in organic order intake 2010 2010 Q4 YTD MS EC IC TOT MS EC IC TOT Europe -5.8% 3.3% -3.7% -2.6% -4.9% -1.8% 0.0% -2.7% USA and Canada -7.8% -4.4% 1.2% -4.7% -3.6% -0.5% 4.1% -1.0% Asia and Australia 8.3% 34.4% 29.3% 16.4% 9.3% 11.6% 37.9% 15.5% Rest of the world -3.1% -29.3% -13.8%
Slide 4: Q4 2010 - Consolidated results
Q4 2010 - Consolidated results 2010 2009 Change 2010 2009 Change Q4 Q4 % YTD YTD % Net sales, SEK million 6 641 6 845 -3.0% 22 172 22 816 -2.8% Gross margin 51.6% 49.4% 2.2% 51.3% 49.3% 2.0% Operating cost, SEK million -1 965 -1 971 -0.3% -7 501 -7 845 -4.4% EBITA before restructuring 1 578 1 534 2,
Slide 5: Medical Systems’ results
Q4 2010 - Medical Systems’ results • FY EBITA margin of 2010 2009 Change 2010 2009 Change 22.3% vs. target of % % Q4 Q4 YTD YTD 22.0% Net sales, SEK million 3 379 3 549 -4.8% 11 195 11 255 -0.5% • PY Q4 positively impacted by swine flu- Gross margin % 58.6% 55.3% 3.3% 58.0% 56.4% 1.6% related produc
Slide 6: Medical Systems’ highlights
Q4 2010 - Medical Systems’ highlights • Cardiohelp and FLOW-i market introduction progressing well • Launch of Trimano 3D orthopaedic support arm • Restructuring of perfusion production leading to SEK 60 million in annual savings from 2012 GETINGE GROUP Q4 Report 2010 6
Slide 7: Extended Care’s results
Q4 2010 - Extended Care’s results 2010 2009 Change 2010 2009 Change • FY EBITA margin of % % 19.5% vs. target of Q4 Q4 YTD YTD 19.0% Net sales , SEK million 1 585 1 672 -5.2% 6 033 6 467 -6.7% Gross margin % 48.3% 46.8% 1.6% 49.3% 45.8% 3.5% Operating cost, SEK million -485 -484 0.2% -1 904 -2 074 -
Slide 8: Extended Care’s highlights
Q4 2010 - Extended Care’s highlights • Merger of sales companies in France completed • Profitability restored – focus on growth GETINGE GROUP Q4 Report 2010 8
Slide 9: Infection Control’s Results
Q4 2010 - Infection Control’s Results 2010 2009 2010 2009 Change Change % Q4 Q4 % YTD YTD Net sales, SEK million 1 677 1 624 3.3% 4 944 5 094 -2.9% Gross margin % 40.5% 39.3% 1.2% 38.5% 38.2% 0.3% Operating cost, SEK million -350 -313 11.8% -1 225 -1 261 -2.9% EBITA before restructuring 332 329 0.9%
Slide 10: Infection Control’s highlights
Q4 2010 - Infection Control’s highlights • Relocation of production from Lynge, Denmark to Getinge, Sweden completed • Relocation of production from Peiting, Germany to Växjö, Sweden on track and to be completed Q1 2011 • New sales companies in Turkey and Korea • Acquisition of STS West USA • MEDICA
Slide 11: Consolidated cash flow statement
Consolidated cash flow statement 2010 2009 2010 2009 SEK million Q4 Q4 YTD YTD EBITDA 1 715 1 550 5 111 4 446 Restructuring cost expenses 117 193 180 336 Restructuring costs paid -53 -85 -163 -202 Adjustments for items not included in cash flow 11 24 38 41 Currency gain 0 0 0 228 Financial items -13
Slide 12: Financials
Financials 2010 2009 2010 2009 Q4 Q4 YTD YTD Cash conversion, % N/A N/A 80.7% 90.0% Net Debt 13 376 16 071 Equity 13 248 12 562 Equity/assets ratio, % 38.3% 33.9% Net debt/equity ratio, multiple 101.0% 126.3% GETINGE GROUP Q4 Report 2010 12
Slide 13: Outlook 2011: Continued good earnings growth
Outlook 2011 Continued good earnings growth • Organic revenue growth 3 – 5 % • Contribution from ongoing plant consolidation and efficiency initiatives • Favourable currency hedges compared with 2010 • Declining restructuring costs • Lower cost of debt • Product launch costs will impact EBITA negati
Slide 14: Questions
GETINGE GROUP \ QUESTIONS
Slide 15: 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