Q2 2024 Getinge AB Earnings Call Transcript
Key Points
- Net sales increased by 15.7% in the second quarter, with 8.9% organic growth.
- Order intake grew by 14.4%, with 7.8% organic growth.
- Adjusted EBITDA margin improved by 4.9 percentage points year-on-year.
- Launch of new products like the Poladus 150 sterilizer and GEW888 neo washer, contributing to future growth.
- Strong performance in Acute Care Therapies, with 8% organic growth driven by Critical Care, cardiopulmonary, and cardiac surgery.
- Life Science organic net sales decreased by 13.1% in the quarter.
- Higher quality-related costs, with SEK200 million in Q2 compared to SEK100 million in Q1.
- Decline in organic order intake in the Americas due to a softer quarter for Life Science and Surgical Workflows.
- Currency impact resulted in a minus SEK5 million effect on net sales for the group.
- Uncertainty around the impact of the FDA letter on customer behavior and future sales.
Thank you very much. Thanks for joining today's conference. With me I have our CFO, Agneta Palmer, who will present the financials in a moment.
But let's get started. We can move directly over to page number 2 please. Let's start by looking at some of the highlights and key takeaways from the second quarter of 2024. Net sales increased by 15.7% in the second quarter and the organic growth part of this was 8.9%. Order intake for getting increased by 14.4% and the organic part here was 7.8%, thanks to positive development in all our three business areas.
Adjusted gross margins improved in all business areas and the adjusted EBITDA margin for the Group improved 4.9 percentage-points year-on-year. This is mainly coming from the weak comp from last year plus healthy growth mix and price, mitigating the negative effects from inflation that we still see. These are effects that we continuously address through productivity improvements and structural changes when and where needed.
All in all, this contributes to
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