Getinge lifts adjusted profit margin to 15.1%, beats forecasts despite slower sales growth
Key Facts
Sweden's Getinge raised its adjusted earnings margin before interest, taxes and amortisation to 15.1% in the third quarter of 2026, according to its earnings statement, beating profit forecasts despite slower sales growth. The medical equipment maker reported adjusted earnings on this measure of 1,278 million Swedish crowns for the quarter. Comparable earnings were 1,079 million crowns in the third quarter of 2025, according to figures released by the company. Analysts had forecast adjusted earnings of 1.19 billion crowns on average, according to a company-provided poll reported by Reuters. The profit margin rose from 13.1% a year earlier, with earnings improving despite slower business growth.
Reported net sales totalled 8,446 million Swedish crowns in the third quarter, according to the company's financial report, compared with 8,226 million crowns in the same period a year earlier. Organic net sales growth was 2.1% during the period, according to the earnings statement, which showed sales continuing to increase. That followed organic growth of 9.5% in the third quarter of 2025, marking a slowdown from the corresponding period. Getinge recorded organic order growth of 2.6% in the third quarter of the current year. Orders had grown organically by 4.7% a year earlier, meaning their growth rate also eased alongside slower organic sales growth.
Chief Executive Mattias Perjos attributed the improvement in profitability to product, pricing and productivity factors, according to his comments in the company's quarterly earnings statement. He said the improvement was underpinned by a "favourable product mix, pricing discipline and productivity improvements", identifying the operational drivers that supported the quarter's performance. Alongside these factors, the profit margin benefited from tariff refunds worth 45 million Swedish crowns, according to the financial report. Currency movements also had a positive year-on-year impact on adjusted earnings before interest, taxes and amortisation. This positive contribution amounted to about 36 million crowns in the third quarter, alongside the impact of tariff refunds on profitability.
Excluding tariff refunds and the year-on-year impact of currency movements, the adjusted earnings margin before interest, taxes and amortisation was 14.3%, according to the financial report. On liquidity, Getinge recorded free cash flow of 1,302 million Swedish crowns in the third quarter of 2026. Free cash flow in the corresponding period a year earlier was 793 million crowns, according to the comparison provided in the company's earnings statement. The improvement in results extended to adjusted earnings per share, which reached 3.10 Swedish crowns for the quarter, according to the financial report. That compared with adjusted earnings of 2.42 crowns per share a year earlier, alongside increased free cash flow and higher adjusted quarterly earnings.
As part of its business activities, Getinge announced in its investor presentation the launch of the "Cardiohelp 2" platform in countries that recognise the CE mark, as well as in Hong Kong. On its currency exposure, the company said in its pre-close note that a stronger dollar generally benefits it. It linked this to its net dollar exposure against the Swedish crown and the euro, which it discussed in the context of the impact of currency movements on its business. In trading on 21 October 2026, Getinge shares rose 1.9%, according to Reuters, following the release of quarterly results that beat profit forecasts. The shares were showing that gain at 07:50 GMT, the time specified by the agency for its account of the market reaction to the results.
For the full year 2026, Getinge maintained its organic net sales growth forecast at 3–5%, according to its third-quarter financial report. The company applies this range after adjusting for the impact of the phase-out of its "Surgical Perfusion" business, in line with the basis it specified for its annual sales outlook. Over the medium term, Getinge targets an adjusted earnings margin before interest, taxes and amortisation of 16–19%, according to its investor presentation. The company set the end of 2028 as the deadline for this target, as part of its medium-term adjusted profit margin guidance. It is scheduled to publish fourth-quarter and full-year 2026 results on 26 January 2027, according to the reporting calendar in its pre-close note.