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Getinge’s Q2 “broadly in line”

This article was originally published in Clinica

Executive Summary

Swedish medtech firm Getinge may have problems reaching its full-year targets after a weak first half of 2012, according to Jefferies analyst Ingeborg Øie. She described the firm’s second fiscal quarter performance as “mixed”, but “broadly in-line”. The firm reported Q2 group sales of SEK5.61bn ($805.9m), up 13% (+0.4% on constant currency basis) and close to Jefferies estimate of SEK5.598bn, but 1% below consensus analyst expectations. Getinge has reiterated its outlook for full-year 2012, saying it expects to see organic sales growth higher than the 4.2% posted in 2011, as well as profit growth. But Ms Øie cautioned: “Our and consensus organic growth estimates of 4.1% and 4.2%, respectively, would put in question whether the full-year growth target can be reached after these weak results.”

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