Q1 2026 Getinge publ AB Earnings Call Transcript
Key Points
- Getinge AB (GNGBY) achieved organic growth in net sales by 0.8% and order intake by 3.9% in Q1 2026, indicating strong underlying business performance.
- The company continues to increase its share of sales from recurring revenue and high-margin products, with recurring revenue making up two-thirds of sales.
- Getinge AB (GNGBY) maintains a solid financial position with a financial leverage of 1.5 times EBITDA, well below the internal threshold of 2.5 times.
- The launch of Cardiohelp II, which has received CE approval, is expected to enhance Getinge AB (GNGBY)'s market leadership in ECLS therapy.
- Strong cash flow was reported, with free cash flow amounting to SEK842 million in the quarter, supported by improved operating profit and changes in working capital.
- Adjusted gross and EBITDA margins were down in the quarter due to strong headwinds from currency fluctuations and tariffs.
- The Acute Care Therapies segment saw a decline in order intake, primarily due to high comparative figures from the previous year in the ventilation market.
- Tariffs and currency impacts resulted in a drag on adjusted EBITDA of more than SEK200 million in Q1 2026.
- The company faces geopolitical uncertainties, particularly in the Middle East, which could impact operations and sales.
- Getinge AB (GNGBY) did not provide specific margin guidance for 2026 due to global uncertainties, maintaining only top-line growth guidance.
Thanks, and welcome, everyone. Thanks for joining the call today. As mentioned in the intro, it's me and our CFO, Agneta Palmer with you today, and in today's conference, we'll go through performance and some of the highlights in the first quarter of 2026 before opening up for Q&A.
So let's move directly to page number two, please. And I'd like to start by looking at the development of some of our strategic KPIs.
And as you can see here, it's evident that we continue to clearly track in line with plan to increase share of sales from recurring revenue, and also accelerating the share of sales for higher (inaudible) products, like for example our ECLS offering, our Consumables in infection control and our beta bags within the Sterile Transfer category.
This is all supported, of course, by solid and effective quality processes. And if we look at the specifics here, you can see that sales from recurring revenue continued to make up 2/3 and high-margin products closing in on about 70% right now.
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