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Getinge announces preliminary results for 2012 and gave a profit warning

Friday, 11 January 2013
Demand for the Getinge Group’s products weakened during the final quarter of 2012, which had an adverse impact on orders received and invoicing volume. The company has been forced to give profit warning for full year 2012.

Getinge which is a provider of various heath care related products some with the brand ArjoHuntleigh, GETINGE and MAQUET, reports in a press release on Friday that full-year, orders received and invoicing rose organically by nearly 3 percent, lower than the expected volume growth. Demand for capital goods was particularly weak in Western Europe and Eastern Europe, the company writes in a press release.

According analysts and market expectations, a lower average forecast of organic growth in order intake of 7.7 percent was expected. Also analysts consensus compilation was that of lower expectations for profit before tax for the year of Skr3.638 million which was.

Due to lower invoicing volumes during the final quarter of the year, consolidated net profit before tax fell short of expectations, totalling approximately Skr 3,600 million for the full-year, excluding acquisition and restructuring costs related to TSS. The company adds that, as previously announced, acquisition and restructuring costs of Skr 170 million associated with the purchase of TSS will be charged to Getinge’s profit for 2012.
by Scancomark.com Team

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