Getinge (GETI) Q3 2025 earnings summary

Executive summary

• Achieved strong organic net sales growth of 9.5% year-over-year in Q3 2025, with all business areas and regions contributing positively and order intake up 4.7%.

• Recurring revenue products now account for 65% of sales, and high-margin products exceed two-thirds of total sales.

• Financial position remains solid, supported by improved free cash flow and leverage well below internal thresholds.

• Quality improvements led to a significant reduction in field actions relative to sales.

• Strategic focus on increasing recurring revenue, high-margin product sales, and productivity improvements.

Financial highlights

• Q3 2025 organic net sales up 9.5% year-over-year to SEK 8,226M; order intake up 4.7%.

• Adjusted gross profit rose to SEK 4,051M (margin 49.2%), with gross margin up 0.9 percentage points; adjusted EBITA increased to SEK 1,079M (margin 13.1%).

• Free cash flow improved to SEK 793M in Q3, supported by improved operating profits and working capital changes.

• Net debt at quarter-end was SEK 11.1 billion, or SEK 8.6 billion adjusted for debt liabilities; leverage stood at 1.6x adjusted EBITDA, or 1.2x when adjusting for pension liabilities.

• Tariff costs totaled SEK -108 million in Q3 and SEK -218 million year-to-date; currency effects negatively impacted adjusted gross profit by SEK -332M and EBITA by SEK -128M.

Outlook and guidance

• Expect organic net sales growth of 2%-5% for 2025, maintaining long-term EPS growth target above 12%.

• Anticipate a smoother second half of 2025, with balanced performance between Q3 and Q4.

• Priorities include addressing quality in ACT, sustainability, productivity, cost control, and tariff mitigation.