Getinge AB (OTCPK:GNGBF) Q3 2024 Earnings Conference Call October 18, 2024 4:00 AM ET
Company Participants
Mattias Perjos – President & CEO
Agneta Palmer – CFO
Conference Call Participants
Erik Cassel – Danske Bank
Mattias Vadsten – SEB
Kristofer Liljeberg – Carnegie Investment Bank
David Johansson – Nordea Markets
Aisyah Noor – Morgan Stanley
Oliver Reinberg – Kepler Cheuvreux
David Adlington – JPMorgan
Sten Gustafsson – ABG Sundal Collier
Rickard Anderkrans – Handelsbanken
Aisyah Noor – Morgan Stanley
Kristofer Liljeberg – Carnegie Investment Bank
Operator
Welcome to the Getinge Q3 Report 2023. [Operator Instructions]. Now I will hand the conference over to the speakers, CEO, Mattias Perjos; and CFO, Agneta Palmer. Please go ahead.
Mattias Perjos
Thank you very much, and thanks, everyone, for joining today. We can move directly to Page 2 and the key takeaways from the quarter, please.
So we look back at a quarter where we continue to see strong global market momentum for our products. Order intake growth for Getinge as a whole increased by 10 percentage points, of which organic growth amounted to 7.4%, and this is thanks to positive development in all business areas, except for life science, and it’s a good geographic spread as well when it comes to the order intake. Net sales increased by 3.5% in the quarter, where organic growth was flat to last year.
Adjusted gross margin in Life Science and Surgical Workflows improved in the quarter. However, it decreased in Acute Care Therapies and also for the group as a consequence of this, and this is mainly due to negative mix, inflation and under-absorption. This was partly mitigated then by healthy price increases, which signals that our products are attractive to customers. And even for financial leverage has increased somewhat after the acquisition of Paragonix, our financial position remains solid.
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