Medical gear maker Getinge beats Q2 core profit expectations (updated)

Getinge publ AB

18/07/2024 07:13

(Adds Q2 earnings, background from paragraph 2)
       July 18 (Reuters) - Swedish medical equipment maker
Getinge  GETIb.ST  reported bigger-than-expected core earnings
for the second quarter on Thursday, as its order intake grew
organically despite prolonged problems with its product
packaging and heart products.
    Its earnings before interest, tax and amortisation (EBITA),
adjusted for items affecting comparability, were 981 million
Swedish crowns ($93 million) in the quarter, nearly doubling
from the 495 million crowns it reported a year earlier. 
    That beat analysts' expectations of 829 million crowns, a
company-provided consensus poll showed.
    Getinge has struggled to resolve quality problems with its
heart pumps and with sterile packaging of products for
heart-lung support systems, which have squeezed its margins and
knocked its shares since the second quarter last year.
($1 = 10.5502 Swedish crowns)

 (Reporting by Greta Rosen Fondahn in Gdansk; editing by Milla
Nissi)
 ((Greta.RosenFondahn@thomsonreuters.com))