Getinge shares plummet on Q4 profit miss

Getinge publ AB

01/02/2024 08:51

** Shares in medical gear maker Getinge  GETIb.ST  fall 9.8%
after the Swedish company reported Q4 earnings below
expectations
    ** Getinge's Q4 operating profit came in at SEK 1.14 billion
($109.28 million), missing LSEG estimate of 1.36 billion
    ** "Margin was negatively impacted by generally unfavorable
geographic and product-related mix and higher costs for input
goods and employees," President and CEO Mattias Perjos said in
the report
    ** "Sales beat, but disappointing margins brings a 5%
(adjusted) EBITA miss," J.P.Morgan says, adding that a 180bp
miss on margins was impacted by quality issues
    ** Order intake grew 4% on the back of acquisitions and
currency translations, but shrank organically by 2%
     ** Shares in Getinge are on track for their worst day in
seven months and is among worst performers on the pan-European
STOXX 600 index  .STOXX 


($1 = 10.4320 Swedish crowns)

 (Reporting by Elsa Ohlen)
 ((elsa.ohlen@thomsonreuters.com;))