Getinge AB Announces Unaudited Consolidated and Parent Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Full Year of 2018
January 29, 2018 at 02:00 am EST
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Getinge AB announced unaudited consolidated and parent earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, on consolidated basis, the company reported net sales of SEK 7,371 million against SEK 7,434 million a year ago. Operating profit (EBIT) was SEK 845 million against SEK 1,308 million a year ago. Profit after financial items was SEK 718 million against SEK 1,181 million a year ago. Net profit for the period from continuing operations was SEK 960 million or SEK 3.50 per share against SEK 872 million or SEK 3.57 per share a year ago. Net profit for the period attributable to shareholders from continuing and discontinued operations was SEK 1,047 million or SEK 3.84 per share against SEK 943 million or SEK 3.90 per share a year ago. Cash flow from operating activities was SEK 1,080 million against SEK 1,783 million a year ago. EBITDA was SEK 1,448 million against SEK 1,816 million a year ago.
For the year, on consolidated basis, the company reported net sales of SEK 22,495 million against SEK 22,170 million a year ago. Operating profit (EBIT) was SEK 1,493 million against SEK 1,506 million a year ago. Profit after financial items was SEK 933 million against SEK 979 million a year ago. Net profit for the period from continuing operations was SEK 1,117 million or SEK 4.37 per share against SEK 723 million or SEK 2.89 per share a year ago. Net profit for the period attributable to shareholders from continuing and discontinued operations was SEK 1,376 million or SEK 5.49 per share against SEK 1,188 million or SEK 4.91 per share a year ago. Cash flow from operating activities was SEK 2,763 million against SEK 3,671 million a year ago. Return on equity as on December 31, 2017 was 6.6% against 6.0% as at December 31, 2016. EBITDA was SEK 3,459 million against SEK 3,454 million a year ago.
For the quarter, on parent basis, the company reported operating loss was SEK 19 million against operating profit of SEK 261 million a year ago. Loss after financial items was SEK 826 million against profit after financial items of SEK 1,579 million a year ago. Net loss for the period was SEK 632 million against net profit for the period of SEK 1,663 million or SEK 3.57 per share a year ago.
For the year, on parent basis, the company reported operating loss was SEK 251 million against SEK 164 million a year ago. Profit after financial items was SEK 3,228 million against SEK 144 million a year ago. Net profit for the period was SEK 3,129 million against SEK 222 million a year ago.
The company provided earnings guidance for the full year of 2018. Organic sales growth is expected to be slightly positive in 2018. Currency transaction effects are expected to have a negative impact of approximately SEK 100 million on the Group's 2018 EBIT.
Getinge AB is the world's leader in producing and marketing medical equipment intended to health care facilities (clinics, hospitals, rest homes, etc.). Net sales break down by family of products as follows:
- medical systems (57.4%): equipment for operating rooms (primarily tables and lighting systems), ventilators and heart and lung machines, etc.;
- hospital sterilization equipment (29.4%);
- contamination prevention equipment (13.2%): in the fields of biopharmaceutical production, biomedical research, manufacturing of medical devices and laboratory applications.
Net sales break down by source of income into sales of equipment (45.3%), consumables (37.1%), services and spare parts (17.6%).
At the end of 2021, the group had 20 production sites worldwide.
Net sales are distributed geographically as follows: Sweden (1.8%), Europe/Middle East/Africa (35.8%), Americas (37.9%) and Asia/Pacific (24.5%).
Getinge AB Announces Unaudited Consolidated and Parent Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Full Year of 2018