Slide 1: Ready to help hospitals with the surgical backlog
Q1 Report 2021 “Ready to help hospitals with the surgical backlog” Mattias Perjos, President and CEO Lars Sandström, CFO April 20, 2021
Slide 2: Key takeaways – a strong quarter from a financial perspective
Key takeaways – a strong quarter from a financial perspective Q1 2021 • Strong organic sales • Improved margins • Strengthened Free Cash Flow • Leverage improved to 0.7x (2.4x) 29,955 53.2 20.5 25,000 15 50 0 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 3: Order trends continue to converge (except in Life Science)
Order trends continue to converge (except in Life Science) Q1 2020-Q1 2021 Critical Care and Decisions to ramp up capacity in advance ICU- ventilators and ECMO Cardiopulmonary Reached the goal to deliver 26,000 (~50% of sales in Acute Care advanced ICU ventilators in 2020 Therapies before COVID-
Slide 4: Expected net sales trends 2021 in relation to 2019
Expected net sales trends 2021 in relation to 2019 A muted H1 in net sales followed by a more intense H2 Cardiopulmonary High demand on products for ECMO therapies expected to continue and capacity expected to increase incrementally throughout the year Critical Care Net sales in Critical Care is
Slide 5: Outlook 2021
Outlook 2021 Net sales is expected to be at least 27 BSEK Long term we expect 2-4% organic annual growth in net sales Getinge Q1 Report 2021 April 20, 2021 Page 5
Slide 6: Key activities and events
Key activities and events Q1 2021 Launches and other activities Improvement journey continues • New holistic system for preparation of multi-use • Restructuring plan in Rastatt, Germany bioreactors - Focus operating tables and cardiopulmonary hardware • Introduction of a state of the art virtual hos
Slide 7: Organic net sales growth in all business areas in Q1
Organic net sales growth in all business areas in Q1 Ventilators, ECMO and Sterile Transfer key drivers behind net sales growth Y-o-Y Global Americas EMEA APAC Organic Order Growth -22.8% Organic Net Sales Growth +12.6% Getinge Q1 Report 2021 April 20, 2021 Page 7
Slide 8: Strong organic order growth in Life Science
Strong organic order growth in Life Science Order Intake – Bridge Q1 2020 - Q1 2021 Organic change -38.8% +55.5% +9.1% -22.8% 277 20 MSEK 9,452 -3,133 6,616 6,173 Q1 2019 Q1 2020 Acute Care Life Science Surgical Q1 2021 Therapies Workflows Getinge Q1 Report 2021 April 20, 2021 Page 8
Slide 9: Life Science and Acute Care Therapies drive organic net sales growth
Life Science and Acute Care Therapies drive organic net sales growth Net Sales – Bridge Q1 2020 - Q1 2021 Organic change +12.9% +38.0% +3.1% +12.6% 162 - 638 Currency impact, MSEK -84 32.7 57 Organic growth, % 6,169 6,033 MSEK 5,548 Q1 2019 Q1 2020 Acute Care Life Science Surgical Q1 2021 -0.3 Thera
Slide 10: Volume and mix had a positive impact on adjusted gross profit and margin
Volume and mix had a positive impact on adjusted gross profit and margin Adjusted Gross Profit – Bridge Q1 2019 - Q1 2021 Adj GM, % Q1 2021 61.2 42.9 39.7 53.3 (Q1 2020) (61.5) (41.9) (39.6) (53.3) (Q1 2019) (58.6) (40.0) (39.3) (50.9) 76 Gross Margin impact -32 23 Volume Product mix 3,218 3,285 MSE
Slide 11: Financial development
Financial development Getinge Q1 Report 2021 April 20, 2021 Page 11
Slide 12: Volume, gross profit and OPEX taking adj EBITA margin to 17.5%
Volume, gross profit and OPEX taking adj EBITA margin to 17.5 % Adjusted EBITA – Bridge Q1 2020 – Q1 2021 17.5% Margin improvement +1.1 pp GP 11.0% +5.4 pp OPEX +0.8 pp D&A +418 -0.8 pp Currency 33 112 10 198 -2 67 - 169 Currency impact, MSEK 1,079 MSEK 661 369 Q1 2019 Q1 2020 Adj Gross Adj Selling
Slide 13: The strong SEK Y-o-Y is having material impact in Q1
The strong SEK Y-o-Y is having material impact in Q1 But the Y-o-Y gap is expected to be smaller in the second half of 2021 Examples on currency pairs having a negative impact USD/SEK EUR/SEK USD/EUR A combination of “small” and volatile currencies/SEK -8.4% 10.5 11.2 -5.1% 0.92 105 -13.1% -16.2% 10
Slide 14: Improved free cash flow, working capital and increasing ROIC
Improved free cash flow, working capital and increasing ROIC Continued efficiency enhancements Improved Free Cash Flow Improvement of WC days Improved Return on Invested Capital +1,038 MSEK 135 36 days 130 20.0% 125 120 115 110 2,283 105 2,026 100 1,567 1,419 1,368 95 7.5% 90 988 587 576 139 5 0 Q2
Slide 15: Strong funding and cash position
Strong funding and cash position Improved net debt … … and leverage 14.0 3.4 5.7 BSEK in cash (March 31) 5.6 0.7x (0.3x excluding pension liabilities) 19-Sep 20-Sep 19-Mar 19-Jun 19-Dec 20-Mar 20-Jun 20-Dec 21-Mar 19-Sep 20-Sep 19-Mar 20-Mar 21-Mar 19-Jun 20-Jun 19-Dec 20-Dec Net debt, BSEK Net debt
Slide 16: Summary
Summary Getinge Q1 Report 2021 April 20, 2021 Page 16
Slide 17: Key takeaways
Key takeaways Summary Q1 2021 • Market moving towards new normal, but a lot of uncertainty remains • Good activity levels and progress on strategy implementation • Growth in organic net sales • Improved margins • Strengthened Free Cash Flow • Leverage improved to 0.7x (2.4x) • Our outlook for 2021 i
Slide 18: Q&A
Q&A Getinge Q1 Report 2021 April 20, 2021 Page 18
Slide 19: Thank you
Thank you Getinge Q1 Report 2021 April 20, 2021 Page 19
Slide 20: Forward looking information
Forward looking information This document contains forward-looking information based on the current expectations of the Getinge’s management. Although management deems that the expectations presented by such forward-looking information are reasonable, no guarantee can be given that these expectation
Slide 21: Getinge – Passion for Life
Se a GETINGE PASSION FOR LIFE