Getinge (GETI) Q1 2026 earnings summary

Executive summary

• Achieved organic net sales growth of 0.8% and organic order intake growth of 3.9% year-over-year, led by strong performance in Life Science and Surgical Workflows, despite a decline in Acute Care Therapies.

• Margins were pressured by SEK 226 million in currency and tariff headwinds, but underlying profitability and structural performance improved.

• Strong cash flow and a solid financial position were maintained, with financial leverage at 1.5x EBITDA (1.1x excluding pension liabilities).

• Regulatory milestones included CE approval for Cardiohelp II and EU MDR certification for Intergard Synergy vascular graft.

• Life Science and Surgical Workflows segments delivered double-digit organic growth in order intake, with recurring revenue share rising to 66%.

Financial highlights

• Adjusted gross profit was SEK 3,828 million, with gross margin at 51.4% (down 0.7 percentage points), and adjusted EBITA/EBITDA margin at 11.1% (12.6% excluding currency and tariffs).

• Free cash flow reached SEK 1.2 billion in Q1 2026, supported by improved operating profit and working capital management.

• Net debt decreased to SEK 9.3 billion (SEK 7 billion excluding pension liabilities), with cash at SEK 4 billion.

• Rolling 12-month net sales reached SEK 34,092 million.

• Operating return on invested capital at 11.4% on a rolling 12-month basis.

Outlook and guidance

• Reiterated 2026 guidance for organic net sales growth of 3%-5%, adjusted for the phase-out of the Surgical Perfusion category.

• Long-term adjusted EBITDA margin target of 16%-19% by 2028 remains on track despite external headwinds.

• No margin guidance for 2026 due to ongoing global uncertainties.