Edition:
United States

Getinge AB (GETIb.ST)

GETIb.ST on Stockholm Stock Exchange

120.40SEK
15 Dec 2017
Change (% chg)

-0.40kr (-0.33%)
Prev Close
120.80kr
Open
120.80kr
Day's High
121.20kr
Day's Low
119.80kr
Volume
909,298
Avg. Vol
1,119,122
52-wk High
182.06kr
52-wk Low
118.50kr

Latest Key Developments (Source: Significant Developments)

Getinge sets new financial targets after distribution of Arjo
Friday, 10 Nov 2017 01:30am EST 

Nov 10 (Reuters) - Getinge :Revised strategy, new financial targets and restated financial information for Getinge (excluding Arjo).Says ‍focus is on organic growth and Getinge foresees an organic market growth of 2-4% on average during 2017-2020 in addressable market​.Says ‍Getinge's organic growth in net sales is expected to increase gradually during 2018 and move closer to expected market growth on a run-rate basis by end of 2018​.Says targets ‍average growth in organic net sales: 2-4%​.Says ‍targets average earnings per share growth: >10%​.Says ‍dividend policy: 30-50% of net income.Getinge is distributing the Patient & Post-Acute Care business area​ into a separately listed company called Arjo.Says Arjo's shares of series B will be listed on Nasdaq Stockholm on December 12, 2017.  Full Article

Getinge Q3 core profit lags expectations, targets PPAC listing by year-end ​
Wednesday, 18 Oct 2017 07:00am EDT 

Oct 18 (Reuters) - Getinge :Q3 ‍order intake increased by 2.2% to sek 7,334 m (7,176). Order intake increased organically by 4.7%.​.Getinge q3 - ‍net sales fell by 3.4% to sek 6,696 m (6,929). Net sales decreased organically by 0.7%.​.Q3 ‍ebita 1* declined by 31.6% to sek 659 m​.Getinge says organic sales growth is expected to be slightly positive in 2017.‍​.Getinge says currency transaction effects are expected to have a positive impact of approximately sek 250 m on getinge’s 2017 ebit‍​.Reuters poll: getinge q3 order intake was seen at 7.2 billion sek, adjusted. Ebita at 904 million.Says ‍net sales were adversely impacted by lower order intake in q2 and higher expenses partly related to work on preparing proposed distribution of patient & post-acute care business area​.Getinge says remainder of 2017 will be challenging, partly because the fourth quarter is our most important quarter in terms of sales and profitability, and partly because we have large-scale projects to complete before the start of 2018‍​.Getinge says aim is to distribute and list ppac division before end of year, on condition of a decision by the board and the approval of an extraordinary general meeting‍​.  Full Article

Getinge sees 2017 organic growth in lower half of 0-2 pct guidance range - CEO
Wednesday, 18 Oct 2017 07:00am EDT 

Oct 18 (Reuters) - Getinge Ab CEO Mattias Perjos in conference call with analysts and media: :says sees f/y 2017 organic sales growth in lower half of 0-2 percent guidance range.  Full Article

Getinge resolves on fully guaranteed 4 bln SEK rights issue
Friday, 18 Aug 2017 05:30am EDT 

Aug 18 (Reuters) - Getinge Ab :says today, the Board of Directors of Getinge AB, with authorization from the Extraordinary General Meeting on August 15, 2017, has resolved on a rights issue of MSEK 4,324 with the purpose to strengthen the group’s balance sheet by reducing leverage and thereby providing improved operational flexibility.says subscription price in rights issue is sek 127 per share.says main shareholder, carl bennet ab has undertaken to subscribe for its portion of rights issue and committed to subscribe for shares that are not subscribed for in rights issue.says fourth swedish national pension fund has expressed its intention to subscribe for its portion of rights issue.says rights issue will, if fully subscribed, increase getinge's share capital by sek 17,023,098, from current sek 119,161,688.50.Getinge announced plans for the rights issue on June 14 nL8N1JB2HV.  Full Article

Getinge to cooperate with Brazilian authorities on cartel probe
Thursday, 3 Aug 2017 10:00am EDT 

Aug 3 (Reuters) - Getinge AB :Getinge says to cooperate with Brazilian authorities on local ongoing investigations.Says it is currently presumed that outcome of ongoing investigations will not have a material financial impact on group.Says that at this early stage of the process impact cannot be excluded.Getinge says investigation is part of ongoing public investigations on cartel activities related to sales of medical equipment and is being carried out by Brazilian authorities.  Full Article

BRIEF-Getinge Q2 core profit lags forecast, makes new provision over Hechingen
Monday, 17 Jul 2017 02:20am EDT 

Repeats to additional alerts:Q2 EBITA before acquisition, restructuring and integration costs increased 9.6% to SEK 864 m (788)..Q2 Order intake increased by 1.1% to SEK 7,539 M (7,460). The order intake declined organically by 3.8%. .Reuters Poll: Getinge Q2 order intake was seen at 7.8 bln SEK, Adj. EBITA at 909 mln.Says restructuring and integration costs amounted to SEK 524 M (133), of which SEK 488 M comprised a provision for improvements in Hechingen in accordance with the Consent Decree with the FDA. .A replanning of the ongoing remediation program has been conducted in Hechingen, Germany, and the Group has decided to make an additional provision of SEK 488 M to make the necessary changes..Net sales rose by 4.5% to SEK 7,241 M (6,927). Net sales decreased organically by 0.5%. .Getinge says organic sales growth is is deemed to be slightly positive in 2017. .Says Lars Sandström has been appointed Chief Financial Officer (CFO) and member of Getinge Executive Team..  Full Article

Getinge makes provision of additional SEK 488 mln over Hechingen
Monday, 17 Jul 2017 02:00am EDT 

July 17 (Reuters) - Getinge :Getinge has replanned the remediation in Hechingen (DE) related to the consent decree with FDA and makes a provision of additional SEK 488 mln.Says costs are primarily attributable to increased staffing and process validation.Says after decided provision group has a total remaining provision of SEK 710 mln.  Full Article

Getinge Q2 core profit lags forecast, makes new provision over Hechingen
Monday, 17 Jul 2017 02:00am EDT 

July 17 (Reuters) - Getinge :Q2 EBITA before acquisition, restructuring and integration costs increased 9.6% to SEK 864 m (788)..Q2 Order intake increased by 1.1% to SEK 7,539 M (7,460). The order intake declined organically by 3.8%. .Reuters Poll: Getinge Q2 order intake was seen at 7.8 bln SEK, Adj. EBITA at 909 mln.Says restructuring and integration costs amounted to SEK 524 M (133), of which SEK 488 M comprised a provision for improvements in Hechingen in accordance with the Consent Decree with the FDA. .A replanning of the ongoing remediation program has been conducted in Hechingen, Germany, and the Group has decided to make an additional provision of SEK 488 M to make the necessary changes..Net sales rose by 4.5% to SEK 7,241 M (6,927). Net sales decreased organically by 0.5%. .Getinge says organic sales growth is is deemed to be slightly positive in 2017. .Says Lars Sandström has been appointed Chief Financial Officer (CFO) and member of Getinge Executive Team..  Full Article

Hanza signs agreement with Getinge
Thursday, 6 Jul 2017 06:40am EDT 

July 6 (Reuters) - HANZA AB :HANZA SIGNS AGREEMENT WITH GETINGE.  Full Article

Getinge says two of its entities investigated by Brazilian authorities
Monday, 26 Jun 2017 01:54am EDT 

STOCKHOLM, June 26 (Reuters) - Getinge :* Says investigation by the Brazilian Administrative Council for Economic Defense comprises two Getinge entities.* Two of Getinge’s entities in Brazil, Maquet Cardiopulmonary do Brasil Indústria e Comércio Ltda and Maquet do Brasil Equipamentos Médicos Ltda, and employees within these companies are being investigated .* Says investigation is part of ongoing public investigations on cartel activities related to the sales of medical equipment and is being carried out by the Brazilian authorities.* Says potential consequences for Getinge are not yet known and too early to comment upon.  Full Article

UPDATE 1-Getinge sets new financial targets ahead of Arjo listing

Nov 10 Swedish medical technology firm Getinge on Friday announced new financial targets following the proposed distribution and separate listing of its patient & post-acute care business, now called Arjo.