Getinge AB

Latest Results (17.05.2026):

Getinge AB — Q1 2026 summary: In Q1 2026 Getinge reported net sales of SEK 7,443 M (organic +0.8%) and order intake of SEK 7,939 M (organic +3.9%). Adjusted EBITA was SEK 824 M (margin 11.1%; adjusted EPS SEK 1.80). Free cash flow strengthened to SEK 842 M and cash flow from operating activities was SEK 1,106 M. Management maintained the 2026 outlook of organic sales growth of 3–5%.

Key financial snapshot

Net sales: SEK 7,443 M (organic +0.8%). Order intake: SEK 7,939 M (organic +3.9%). Adjusted gross profit: SEK 3,828 M (margin 51.4%). Adjusted EBITDA: SEK 1,222 M (margin 16.4%). Adjusted EBITA: SEK 824 M (11.1%). Adjusted EPS: SEK 1.80 (vs SEK 2.18 a year ago).

Profitability drivers and headwinds

Adjusted EBITA margin declined ~1 percentage point vs prior year to 11.1%. Management says tariffs and currency were meaningful headwinds — excluding tariffs and currency effects the adjusted EBITA margin would have been ~12.6%. Price actions, productivity and cost control supported underlying structural profitability.

Cash flow and financial position

Free cash flow improved sharply to SEK 842 M (Q1 2025: SEK 160 M). Cash flow from operating activities was SEK 1,106 M. Net interest‑bearing cash/debt reported at SEK 9,268 M (R12 multiple vs adjusted EBITDA ~1.5x) and equity/assets ratio ~53.5%.

Segment: Acute Care Therapies

Net sales SEK 4,012 M (organic -4.0%); order intake SEK 4,256 M (organic -1.2%). Adjusted EBITA fell by SEK 249 M year‑on‑year, with margin down ~2.2 pp — driven by lower ventilator volumes (market consolidation), negative currency and tariff effects; recurring ECLS consumables showed stable growth.

Segment: Life Science

Net sales SEK 1,003 M (organic +16.0%). Order intake grew (Nuclear and Bio‑Processing recovery); adjusted EBITA rose by ~SEK 44 M and margin improved ~4.1 pp, driven by favorable mix and price adjustments. Company launched a new steam sterilizer in the quarter.

Segment: Surgical Workflows

Net sales SEK 2,428 M (organic +4.0%); order intake SEK 2,774 M (organic +13.3%). Adjusted EBITA increased (margin +1.2 pp), supported by price actions and higher volumes—strong momentum in consumables and OR equipment, especially in the US and EMEA.

Currency, tariffs and one‑time items

Currency translation and transaction effects lowered net sales by SEK -901 M versus prior year and reduced adjusted EBITA by SEK -122 M. Tariff costs also weighed on profitability (company quantified ~SEK -104 M impact to adjusted EBITA). Adjustment items (restructuring, acquisitions etc.) were limited in Q1 (SEK -30 M).

Outlook and governance updates

Getinge kept its 2026 organic sales guidance at +3–5% (adjusted for phase‑out of Surgical Perfusion). The company updated its definition of “organic change” to also adjust for product category phase‑outs to better reflect underlying growth.

Notable non‑financial milestone

Important regulatory approvals: CE mark for Cardiohelp II (new ECLS system) and EU MDR approval for Intergard Synergy vascular graft — both cited as strategically relevant for future growth in prioritized product categories.