Getinge AB (GNGBF) Q2 2024 Earnings Call Transcript

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Getinge AB (OTCPK:GNGBF) Q2 2024 Earnings Conference Call July 18, 2024 4:00 AM ET

Company Participants

Mattias Perjos – President and Chief Executive Officer
Agneta Palmer – Chief Financial Officer

Conference Call Participants

Erik Cassel – Danske Bank
Rickard Anderkrans – Handelsbanken
Mattias Vadsten – SEB
Oliver Reinberg – Kepler Cheuvreux
Kristofer Liljeberg – Carnegie
David Adlington – JPMorgan

Operator

Welcome to the Getinge Q2 Report 2024. For the first part of the conference call, the participants will be in listen-only mode. [Operator Instructions]

Now I will hand the conference over to the speaker CEO, Mattias Perjos; and CFO, Agneta Palmer. Please go ahead.

Mattias Perjos

Thank you very much. Thanks for joining today’s conference. With me, I have our CFO, Agneta Palmer, who will present the financials in a moment, but let’s get started. We can move directly over to page number two, please, and let’s start by looking at some of the highlights and key takeaways from the second quarter of 2024.

Net sales increased by 15.7% in the second quarter and the organic growth part of this was 8.9%. Order intake for Getinge increased by 14.4% and the organic part here was 7.8%, thanks to positive development in all our three business areas.

Adjusted gross margins improved in all business areas and the adjusted EBITDA margin for the Group improved 4.9 percentage points year-on-year. This is mainly coming from the weak comp from last year plus a healthy growth mix and price, mitigating the negative effects from inflation that we still see.

These are effects that we continuously address through productivity improvements and structural changes when and where needed. All-in-all, this contributes to a solid financial position that enables investments in profitable growth also going forward.

We can then move over to page number three, please. So let’s take

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