Getinge Saw Demand Weaken In Q4

Getinge Group has issued its preliminary top line results for the final quarter of 2012 and tells us that demand for its  products weakened during the period. In a rather matter of fact way the company’s press release says lower demand had an adverse impact on orders received and invoicing volume.

Overall, for the full-year, orders received and invoicing rose organically by nearly 3%, which was positive, but still lower than the expected volume growth. In common with a few other companies that have thus far reported their results, it seems demand for capital goods was particularly weak in Western Europe and Eastern Europe.

So, further down the income statement the consequences of lower invoicing volumes during the final quarter resulted in  consolidated net profit before tax falling short of expectations. The total profit looks like being SEK 3,600 million for the full-year, excluding acquisition and restructuring costs related to Therapeutic Support Systems (TSS). Taking it on the chin, and as previously announced, acquisition and restructuring costs of SEK 170 million associated with the purchase of TSS will be charged to Getinge’s profit for 2012.

Full results will be published later in January.

In the meantime, Getinge Subsidiary Maquet has released some positive news about its INTERGARD SYNERGY, a so-called next generation antimicrobial graft combining two well- known antimicrobial agents: silver acetate and triclosan. It seems that both INTERGARD SYNERGY and the first generation INTERGARD SILVER showed bactericidal efficacy against MRSA in the standard Kill time test method employed, with the newer graft showing increased colony count reduction and bactericidal efficacy against MRSA.

Source: Getinge Group, Maquet