Getinge Ab Class B · OMXSTO:GETI_B
Getinge Ab Class B — Investor Presentation (February 2009)
15 slides from Getinge Ab Class B's investor presentation, Feb 3, 2009
Slide 1: Getinge, Ulf Grunander, CFO
GETINGE 3 February, 2009 Ulf Grunander, CFO GETINGE 2009-02-03
Slide 2: Net Debt (MSEK)
Net Debt (MSEK) 2008 2007 Net Debt 13 468 10 365 Change in Net Debt 3 103 4 790 Increase in Net Debt due to currency impact 1 273 170 Net Debt / EBITDA 3,29 3,22 Net gearing 1,26 1,57 GETINGE 2009-02-03
Slide 3: Interest bearing financial liabilities
Interest bearing financial liabilities 2008-12-31 Local Currency Closing rate SEK Equivalent Interest Rate Average (millions) (2008 average) Loans USD 677 7,75 5 251 4,2% EUR 247 10,94 2 704 5,5% CAD 54 6,30 343 3,9% SEK 3 849 1,00 3 849 5,6% GBP 74 11,25 836 6,0% Other 261 Total 13 244 5,0% GETINGE
Slide 4: Maturity of Debts
MATURITY OF DEBTS Lender/Facility 2009 2010 2011 2012 2013 2014 2015 USA Private Placement 100 MUSD Nov 50 MUSD Nov Bridge Financing Datascope SEB 865 MUSD Mar Syndicated Credit Facility with 7 banks 332,5 MEUR Jun Syndicated Credit Facility with 9 banks 810 MEUR Apr Nordic Investment Bank 500 MSEK
Slide 5: Cash flow (MSEK) cont
Cash flow (MSEK) cont Operating cash flow before restructuring +20% 3 500 +19% 3 064 3 000 2 554 2 500 2 139 2 000 1 500 1 000 500 0 2006 2007 2008 GETINGE 2009-02-03
Slide 6: Cash flow (MSEK)
Cash flow (MSEK) 2008 2007 Operating cash flow before restructuring 3 064 2 554 Restructuring cost cash generated -223 -190 Investments in tangible fixed assets -617 -467 Disposal of tangible fixed assets 22 34 Investments in intangible fixed assets -476 -348 Carried forward 1 770 1 583 GETINGE 2009
Slide 7: Cash flow (MSEK) – Investments in tangible fixed assets
Cash flow (MSEK) Investments in tangible fixed assets Gross capex 617 m 700 = 3,2% of sales Gross capex 467 m 22 600 = 2,8% of sales 500 Gross capex 315 m 34 400 Target 2,5% of sales = 2,4% of sales 300 595 157 Sale of tangible fixed assets 200 433 100 Net investments in tangible fixed 158 assets 0
Slide 8: Cash flow (MSEK)
Cash flow (MSEK) 2008 2007 Brought forward 1 770 1 583 Net acquisition and divestments -5 008 -6 106 Financial net -750 -507 Paid taxes -618 -528 New share issue 3455 0 Dividend -515 -444 Other -1 437 1 212 Change in net debt -3 103 -4 790 GETINGE 2009-02-03
Slide 9: Financial net 2008 vs 2007
Financial net 2008 vs 2007 Consolidated financial income and expenses Actual Actual 2008 2007 MSEK Interest net -728 -488 Other financial intems -22 -19 Financial net -750 -507 GETINGE 2009-02-03
Slide 10: Goodwill & other intangibles (MSEK)
Goodwill & other intangibles (MSEK) Goodwill Goodwill Other Other additions closing intangibles intangibles 2008 balance additions closing 2008 balance Medical Systems 2 349 6 750 2070 2 262 Extended Care - 3 596 - 1055 Infection Control 2 780 46 179 Total 2 351 11 126 2 116 3 496 EBITA before restr
Slide 11: Tax rate
Tax rate 2009 2008 2007 Forecast Tax rate 27% - 28% 28% 29% Tax charge (MSEK) - 603 515 GETINGE 2009-02-03
Slide 12: Currency effects 2007 - 2009
Currency effects 2007 - 2009 Estimates 2009 AC 2008 AC 2007 USD 7,70 6,61 6,76 EUR 10,20 9,62 9,25 GBP 12,00 12,13 13.53 CAD 6,40 6,19 6,30 Translation +187 -18 -27 Hedging +15 -162 -36 Finance, net -57 +4 +4 Total +145 -176 -59 GETINGE 2009-02-03
Slide 13: Currency effects 2009 (MSEK)
Currency effects 2009 (MSEK) 2009 2008 2007 Estimate Actual Actual Medical Systems +94 -79 -38 Extended Care +67 -64 -4 Infection Control +41 -37 -21 Finance Net -57 +4 +4 Total +145 -176 -59 GETINGE 2009-02-03
Slide 14: Currency effects 2009
Currency effects 2009 Currency exposure at Currency rates used Net foreign volumes in 5% change in currency for group estimates 2009 2009, million rates, MSEK USD 7,70 USD 97 +/-37 EUR 10,20 EUR 69 +/-35 GBP 12,00 GBP 40 +/-24 CAD 6,40 CAD 29 +/-9 GETINGE 2009-02-03
Slide 15: Questions & Answers
BUSINESS AREA INFECTION CONTROL HEALTHCARE Questions & Answers GETINGE 2009-02-03