Getinge (GETI) CMD 2008 presentation summary

Cash flow and working capital

• Operating cash flow before restructuring reached MSEK 2,553 in 2007, up 19% from MSEK 2,139 in 2006.

• Receivables days fell by 5 days in 2007, representing circa MSEK 230; inventory days fell by 6 days, representing circa MSEK 240, both excluding Huntleigh.

• 2007 cash flow included MSEK 467 tangible capex, MSEK 34 proceeds from tangible asset sales, and MSEK 348 intangible capex.

• Cash flow carried forward after operating cash flow and capital expenditure was MSEK 1,772 in 2007 versus MSEK 1,775 in 2006.

Debt and financing

• Net debt was MSEK 10,365 at year-end 2007 versus MSEK 5,575 in 2006; net debt/EBITDA was 3.2 versus 2.4, and net gearing was 1.57 versus 0.93.

• Change in net debt before acquisitions, currency effects, and cash effect of restructuring costs was MSEK -472 in 2007 versus MSEK -744 in 2006.

• Interest-bearing loans totaled MSEK 9,454 at Dec. 31, 2007; MSEK 4,800 funded the Boston acquisition, with bridge financing due to expire in July 2009.

• Loan maturities were 7% in 2008, 7% in 2010, 78% in 2012, 3% in 2013, and 5% in 2015; Boston debt was 100% USD-denominated.

• The board proposed a share issue of approximately SEK 1,500 million to fund near-term business opportunities and repay part of the Boston acquisition loan.

Other financial items

• The 2008 forecast tax rate was 28%, versus 29% in 2007 and 27% in 2006; tax charges were MSEK 514 in 2007 and MSEK 469 in 2006.

• Financial net was MSEK 507 at Dec. 31, 2007, versus MSEK 208 in 2006.