GETINGE An expanding Medical-Technology group with focus on comprehensive solutions for infection...
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Transcript of GETINGE An expanding Medical-Technology group with focus on comprehensive solutions for infection...
GETINGE
An expanding Medical-Technology group with
focus on comprehensive solutions for infection
control, surgical systems and care of elderly and
disabled people
Customers
Net SalesAssociatesManufacturingDistribution
Acute CareLong term care Industry/Laboratories8.1 billion SEK5 30018 production units in 9 countries80 sales companies in 25 countries Distributors in I00 countries
Infection Control Infection Control Sterilization Disinfection
40%40%
Industry
I0% Acute care
60%Long term care 30%
Surgical SystemsSurgical SystemsSurgical tables Surgical lamps
30%30%
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Business Scope Business Scope
Extended CareExtended CareHygiene Systems Patient Handling
Wound Care 30%30%
Getinge Group ObjectivesGetinge Group Objectives
FinancialFinancialTo increase profit before tax with an To increase profit before tax with an
average of I5% per annumaverage of I5% per annumInternally generated cash flow to Internally generated cash flow to
sustain an external growth rate of I0% sustain an external growth rate of I0% per annumper annum
StrategicStrategicTo develop world leading positions in To develop world leading positions in
prioritized niches of the health care prioritized niches of the health care industryindustry
Infection ControlInfection ControlTo create a customer focused group from afederation of companies acquired over the
last I0years
Extended CareExtended CareFocus on growth from a solid platformthrough product innovation, market
penetrationand geographical expansion
Surgical SystemsSurgical SystemsTo create a global leader in the field of
surgicalwork stations as a platform for further
growth in the surgical systems market
Group Focus 2002 - 2004Group Focus 2002 - 2004
Business Area Extended Business Area Extended CareCare
Patient Patient HandlingHandling
Hygiene SystemsHygiene Systems
Complete solutions for institutional extended care:
Nursing Homes, Hospitals, Assisted Living
Wound CareWound Care
Strategic CornerstonesStrategic Cornerstones
Product leadershipProduct leadershipComplete solutionsComplete solutionsPositive outcomesPositive outcomes
Extended CareExtended CareMarket development Q1 (msek)Market development Q1 (msek)
2002 2001 Change 2002 2001 Changeper market Q 1 Q 1 3 Mon 3 MonUSA and Canada 249 240 4% 249 240 4%Great Britain 201 207 -3% 201 207 -3%Germany 73 69 6% 73 69 6%Other W Europe 153 161 -5% 153 161 -5%Rest of the world 20 20 -2% 20 20 -2%Business area tot. 695 696 0% 695 696 0%
Extended CareExtended CareResults Q1 (msek)Results Q1 (msek)
2002 2001 2002 2001 2001Q 1 Q 1 3 Mon 3 Mon F Y
Net sales 692 663 692 663 2,656 Gross margin % 53.0% 48.9% 53.0% 48.9% 49.2%Operating cost -240 -210 -240 -210 -886 Operating profit 127 115 127 115 421 Operating margin % 18.3% 17.3% 18.3% 17.3% 15.9%
Business area Infection Control Business area Infection Control Health CareHealth Care
DisinfectionDisinfection IT-solutionsIT-solutionsSterilizationSterilization Load Load handlinghandling
Complete Systems for:
Central Processing Departments, Outpatient Surgery, Wards,
Infectious Waste, Microbiology, Pharmacies
Load Load HandlingHandling
WashinWashing g
SterilizatiSterilizationon
Water Water TreatmentTreatment
Complete Systems for:
Production, Research / Laboratories, Animal Care Facilities, Food Industry
Business area Infection Control Business area Infection Control IndustryIndustry
Moving up the Value chainMoving up the Value chain
Service
Provider
Concept
Service
Provider
Concept
Complete
Infection
Control
Solution
Complete
Infection
Control
Solution
SterilizerSterilizerDisinfectorDisinfector
Load handlingLoad handlingLogisticsLogistics
ConsumablesConsumablesInformation Information
ManagementManagementAfter Sales serviceAfter Sales service
EducationEducation
SterilizerSterilizerDisinfectorDisinfector
Load handlingLoad handlingLogisticsLogistics
ConsumablesConsumablesInformation Information
ManagementManagementAfter Sales serviceAfter Sales service
EducationEducation
Strategic CornerstonesStrategic Cornerstones
Cost leadershipCost leadershipComplete solutionsComplete solutions
Service infrastructureService infrastructure
Position the Getinge brand as a Position the Getinge brand as a competent solutions providercompetent solutions provider
Improved production structureImproved production structureOrganizational focusOrganizational focus
Increased focus on R & D Increased focus on R & D - low temp - low temp solutionssolutions
- material - material handling handling
- ergonomy - ergonomy
Service expansionService expansion
Key Activities 2002 - 2003Key Activities 2002 - 2003
Infection ControlInfection ControlMarket development Q1 (msek)Market development Q1 (msek)
2002 2001 Change 2002 2001 Changeper market Q 1 Q 1 3 Mon 3 MonWestern Europe 375 344 9% 375 344 9%USA and Canada 325 299 9% 325 299 9%Asia/Australia 66 63 5% 66 63 5%Rest of the world 36 25 46% 36 25 46%Business area total 803 731 10% 803 731 10%
Infection ControlInfection ControlResults Q1 (msek)Results Q1 (msek)
2002 2001 2002 2001 2001Q 1 Q 1 3 Mon 3 Mon F Y
Net sales 689 682 689 682 3,204 Gross margin % 36.7% 35.7% 36.7% 35.7% 36.0%Operating cost -222 -192 -222 -192 -833 Operating profit 31 51 31 51 321 Operating margin % 4.4% 7.5% 4.4% 7.5% 10.0%
Business area Surgical SystemsBusiness area Surgical Systems
Surgical LightsSurgical LightsSurgical Surgical TablesTables
Ceiling Service Ceiling Service SystemsSystems
Integrated Solutions for Surgical Workstations and ICU’s
Strategic CornerstonesStrategic Cornerstones
Technological leadershipTechnological leadershipIntegrated solutionsIntegrated solutionsExcellence in serviceExcellence in service
ProductionProductionClosure of production facilities in CharlestonClosure of production facilities in Charleston
USA and Oer-Erkenschwick GermanyUSA and Oer-Erkenschwick Germany
DistributionDistributionMerger of sales activities in Germany, USA, Merger of sales activities in Germany, USA,
UK,UK,France, Italy, Spain, Japan and InternationalFrance, Italy, Spain, Japan and International
Reduced overhead costsReduced overhead costs
Synergies of I40 - I50 MSEK annually Synergies of I40 - I50 MSEK annually from 2002from 2002
Restructuring ProgramRestructuring Program
Divestiture of OrtoMaquetDivestiture of OrtoMaquet
Product development initiativesProduct development initiativesMarket penetration tables Market penetration tables USA + JapanUSA + Japan
I5 --> 30% market shares --> 250 I5 --> 30% market shares --> 250 MSEK+MSEK+
Cross-selling opportunities in most Cross-selling opportunities in most marketsmarkets
Own sales companies in major marketsOwn sales companies in major marketsActive participation in the consolidation Active participation in the consolidation
of the surgical systems marketof the surgical systems market
Growth Opportunities in Surgical Growth Opportunities in Surgical SystemsSystems
Surgical systemsSurgical systemsMarket development Q1 (msek)Market development Q1 (msek)
2002 2001 Change 2002 2001 Change
per market Q 1 Q 1 3 Mon 3 MonUSA and Canada 112 100 12% 112 100 12%
Great Britain 55 46.2 18% 55 46.2 18%
Germany 137 149 -8% 137 149 -8%
Other W Europe 169 126 33% 169 126.4 33%
Rest of the world 187 120 56% 187 120 56%
Business area tot. 659 541 22% 659 541 22%
Surgical SystemsSurgical SystemsResults Q1 (msek)Results Q1 (msek)
2002 2001 2002 2001 2001Q 1 Q 1 3 Mon 3 Mon F Y
Net sales 518 556 518 556 2,223 Gross margin % 45.9% 47.8% 45.9% 47.8% 49.9%Operating cost -205 -205 -205 -205 -881 Operating profit 33 61 33 61 228 Operating margin % 6.3% 10.9% 6.3% 10.9% 10.3%
Getinge ABGetinge ABResults Results (Msek)(Msek)
2002 2001 Change 2002 2001 ChangeQ 1 Q 1 3 Mon 3 Mon
Orders received 2,168 1,986 9% 2,168 1,986 9%
Net sales 1,909 1,919 -1% 1,909 1,919 -1%EBITDA 284 315 -10% 284 315 -10%Operating profit 190 228 -17% 190 228 -17%Operating margin 9.9% 11.9% 9.9% 11.9%Profit before tax 146 167 -13% 146 167 -13%
Getinge ABGetinge ABBalance sheets Balance sheets (Msek)(Msek)Assets 2002-03-31 2001-03-31 2001-12-31Subscribed capital unpaid 490Intangible fixed assets 2 621 2 762 2 768Tangible fixed assets 1 283 1 336 1 341Financial assets 470 415 462Stock-in-trade 1 784 1 672 1 719Current receivables 2 702 2 688 2 935Liquid funds 398 377 364Total assets 9 259 9 740 9 589
Shareholders' equity & liabilitiesShareholders' equity 2 948 2 653 2 953Minority interests - 9 -Pension provisions, interest-bearing 1 050 1 033 1 090Restructuring reserve 129 581 149Other provisions 523 464 540Long-term liabilities 3 131 2 127 2 179Current liabilities 1 479 2 874 2 679Total Equity & Liabilities 9 259 9 740 9 589
Turnaround in the earnings trend for Turnaround in the earnings trend for Infection ControlInfection Control
Good overall order situation and Good overall order situation and market outlook for all business areasmarket outlook for all business areas
Incremental synergies in Incremental synergies in Surgical Surgical SystemsSystems
Improving capital utilizationImproving capital utilization
Getinge is well positionedGetinge is well positioned
Short termShort term
Strong market fundamentals in Strong market fundamentals in Extended CareExtended Care
Significant scope for improvement in Significant scope for improvement in operating performance within operating performance within Infection Infection
ControlControl
Opportunities for growth through Opportunities for growth through acquisitions in a fragmented acquisitions in a fragmented Surgical Surgical
SystemsSystems market market
Getinge is well positionedGetinge is well positioned
Long termLong term