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UPDATE 1-Getinge sees Western Europe upturn, shares rise
January 28, 2014 / 1:25 PM / 4 years ago

UPDATE 1-Getinge sees Western Europe upturn, shares rise

* Getinge sees sales growth in 2014 similar to 2013

* Q4 core profit in line with forecast

* Shares rise 3.5 pct (Adds detail, background)

STOCKHOLM, Jan 28 (Reuters) - Swedish medical technology firm Getinge posted a rise in fourth-quarter core profit in line with expectations on Tuesday and said its markets in western Europe had started to recover.

Getinge’s outlook for a region that accounts for the biggest share of its sales was a touch more positive than in October, and its shares rose 3.5 percent by 1305 GMT, outperforming the Stoxx Europe 600 Healthcare Index which was up 0.3 percent.

The Swedish maker of surgical theatre equipment such as products for heart surgery and anaesthesia systems said it expected sales growth in 2014, adjusted for currency swings and acquisitions, to be on par with the 4.2 percent in 2013.

Earnings before interest, taxes, amortisation and restructuring costs rose to 2.06 billion Swedish crowns ($321 million) from a year-earlier 1.94 billion. The mean forecast in a Reuters poll of analysts was for a rise to 2.10 billion.

Getinge, whose competitors include U.S. medical technology groups Medtronic, Stryker and Steris, also said it saw substantial cost savings which it would present at it capital markets day in the second quarter.

Link to full report:

$1 = 6.4312 Swedish crowns Reporting by Sven Nordenstam; Editing by Niklas Pollard and Stephen Powell

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