(Adds details, share price)
STOCKHOLM Jan 11 Medical equipment company
Getinge AB warned on Friday that its 2012 earnings
had fallen short of expectations due to lower than expected
demand in western and eastern Europe and its shares dropped 9
Getinge sells a wide range of goods for hospitals including
beds, foetal monitoring equipment and disinfectors for infection
control and has been hit by public spending cutbacks in Europe
and, in some areas of its business, the United States.
It said in a statement that demand for its products weakened
during the final quarter of 2012, which hurt orders received and
"The demand for capital goods was particularly weak in
Western Europe and Eastern Europe," it said.
This meant that its full-year 2012 pretax profit had fallen
short of expectations to total 3.6 billion Swedish crowns ($555
million), excluding acquisition and restructuring costs of 170
million crowns related to the acquisition of U.S.-based
Therapeutic Support Systems, which it bought last year.
Analysts' mean forecast for Getinge's 2012 pretax profit was
3.77 billion crowns, according to Reuters Starmine data. In
2011, it made pretax earnings of 3.4 billion crowns.
It said orders received and invoicing rose organically by
nearly 3 percent last year, which was lower than expected.
Getinge shares slid 9.4 percent to 195.70 crowns after the
As a provider to the public sector Getinge has been hit by
cutbacks in parts of Europe and in the United States in some
parts of its business.
(Reporting by Patrick Lannin, editing by Alistair Scrutton)