Q1 2025 Getinge AB Earnings Call Transcript
Key Points
- Getinge AB (GNGBF) reported a solid quarter with a 7.1% increase in order intake and a 10.7% rise in net sales, with 6.2% organic growth.
- The company's adjusted gross and EBITDA margins improved by about 1-percentage-point, driven by volume leverage, acquisitions, price increases, and a positive mix.
- The acquisition of Paragonix has been successful, with the KidneyVault product launch receiving positive feedback.
- Getinge AB (GNGBF) achieved EU MDR approval for the majority of its products, facilitating expansion outside the US.
- The company maintains a strong financial position with a leverage of 1.4 times adjusted EBITDA, well below its internal threshold of 2.5 times.
- Currency fluctuations negatively impacted the EBITDA margin by 1.1-percentage-point in the quarter.
- Free cash flow decreased to SEK0.2 billion, affected by volume-driven inventory increases and lower operating liabilities.
- Life Science order intake was significantly down due to weak orders in the Bio-Processing subsegment.
- The intended phaseout of the Surgical Perfusion product category negatively impacted organic order intake and net sales.
- There is ongoing uncertainty related to tariffs and geopolitical factors, which could impact future financial performance.
Welcome to the Getinge Q1 report 2025. (Operator Instructions)
Now I will hand the conference over to the speakers CEO, Mattias Perjos; and CFO, Agneta Palmer. Please go ahead.
Thank you very much. Welcome, everyone, to today's conference. Today, we'll focus on first, a quick look into our performance in the first quarter and then reflect a bit on the current market situation and our expectations for 2025. So we can jump directly to page number two, please.
Looking at some of the key takeaways when it comes to the performance from the first quarter, we do look back at a solid quarter when it comes to top line. Our order intake grew by 7.1%, and it was 2.9% organic growth out of this. Our net sales increased by 10.7% in the quarter where organic growth was 6.2%.
The positive development was primarily attributed to acute care therapists and from a geographic perspective to the Americas.
When it comes to the adjusted gross and EBITDA margins, they
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