Getinge (GETI) Q2 2026 earnings summary

Executive summary

• Achieved strong organic growth in Q2 2026, with net sales up 4.6% and order intake up 6.2% organically year-over-year, reflecting robust operational execution.

• Margins improved, supported by a significant $36M USD/SEK 336M tariff refund and operational enhancements.

• Recurring revenue and high-margin products now represent 67% and 70% of sales, respectively.

• Launched three new products and opened a digital OR innovation center in Hamburg.

• Acquired Pennamed to strengthen infection prevention in endoscopy.

Financial highlights

• Q2 2026 net sales: SEK 8,381M (up 4.6% organically); order intake: SEK 8,668M (up 6.2% organically).

• Adjusted EBITA reached SEK 1,478M with a margin of 17.6% in Q2; gross margin rose to 55.4%.

• Free cash flow was SEK 1,001M, supported by improved operating profit and working capital changes.

• Net debt increased to SEK 11.5B due to acquisitions and dividend; leverage at 1.7x adjusted EBITA.

• Adjusted earnings per share: SEK 3.59 (vs. 2.25 last year).

Outlook and guidance

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

• Mid-term guidance targets an adjusted EBITA margin of 16-19% by end of 2028, driven by quality cost release, mix shift, and productivity gains.

• Priorities include addressing Acute Care Therapies challenges, sustainability, productivity, and cost control amid geopolitical uncertainty.

• Margin ambition remains to improve reported margin in 2026, with no detailed guidance provided.