* Sees group EBITA margin of 22 pct only in 2015
* Sees Q1 profit down, repeats full-year outlook
* Targets Infection Control margin above 17 pct in 3-5 yrs
* Shares fall 3.4 percent
STOCKHOLM, Feb 8 Swedish medical technology
group Getinge has pushed back its profit margin
target by one to two years, blaming weaker-than-expected demand
and a new tax in the United States.
The maker of surgical theatre equipment such as heart-lung
support and anaesthesia systems said on Friday it now expected
to reach its target for a 22 percent margin on earnings before
interest, tax and amortisation (EBITA) in 2015.
"Market demand has experienced a weaker recovery than
expected, the currency scenario has become more challenging and
new costs have arisen due to the introduction of the so-called
medical device tax in the U.S," Getinge said.
In 2012, the margin was 19.1 percent and the company had
hoped to reach the 22 percent target in 2013 to 2014.
At 1115 GMT, Getinge shares were down 3.4 percent at 192.2
Feeling the pain from government spending cuts in Europe,
Getinge said profits in the current quarter would be lower than
a year ago.
However, it stood by a full-year outlook for profit growth,
excluding restructuring costs, helped by strong demand in
"(Profit) growth is expected to become stronger during the
second half of the year compared with the first six months," it
Getinge said a restructuring programme for its struggling
infection control division - the group's smallest - aimed to
boost the unit's EBITA margin to more than 17 percent within 3
to 5 years, from 12 percent currently.
The programme would cost about 440 million crowns ($68.4
million) over four years, it said.
($1 = 6.4326 Swedish crowns)
(Reporting by Anna Ringstrom; Editing by Mark Potter)