Getinge

Quarterly Report • Jul 16, 2021

Interim report

January – June 2021

Comments from Mattias Perjos, President & CEO

Strong recovery in products for surgery

"In the second quarter we saw a rapidly growing need for cardiovascular surgery products in North America and acute needs for advanced ICU ventilators in India to treat COVID-19 patients. In addition, the high delivery pace of our world-leading ECMO therapy products continued. The demand for products for laboratory environments and Sterile Transfer to pharmaceutical companies, which was intensified during the pandemic, was consistently strong. Order intake is also recovering in Surgical Workflows, which is expected to result in stronger net sales going forward. In total, sales increased by 3.6% organically compared with the second quarter 2020, and the order intake declined by 6.1% organically compared with 2020 when we received very large orders of advanced ICU ventilators. Currency effects had a negative impact on sales and earnings in the quarter. However, margins strengthened due to a higher capacity utilization in our manufacturing sites and in the service organization, as well as improved productivity. Cash flow remained strong and net debt in relation to EBITDA declined further. During the quarter, we completed the first version of the Getinge Ethics & Compliance Report and we issued a social sustainable bond directed to institutional investments, which was rapidly fully subscribed with very attractive borrowing costs for us.

We are continuing to implement our strategy – focusing on product development, growth and profitability – in full speed. One of the products launched in the quarter was Torin Artificial Intelligence, which helps our customers to efficiently plan their surgeries, which is particularly relevant at the moment due to long surgery backlogs resulting from COVID-19. Three products in our portfolio of advanced ICU ventilators also received FDA clearance for sale in the US, which further strengthens our position. The consolidation of manufacturing sites in New Jersey, USA, is proceeding according to plan and scheduled for completion at the end of the year, which is expected to help improve productivity development. Finally, I would like to thank our customers, our employees, suppliers and other business partners for the excellent cooperation shown during the quarter. Let's continue on this path in the quarters ahead!"

April – June 2021 in brief

• Net sales increased organically by 3.6% and the order intake declined by 6.1% organically.
• Adjusted gross profit amounted to SEK 3,624 M (3,723) and the margin was 55.0% (53.4).
• Adjusted EBITA amounted to SEK 1,250 M (1,218) and the margin was 19.0% (17.5).
• Adjusted earnings per share amounted to SEK 3.04 (3.07).
• Cash flow after net investments amounted to SEK 1,228 M (1,368).

January – June 2021 in brief

• Net sales increased organically by 7.8% and the order intake declined by 15.1% organically.
• Adjusted gross profit amounted to SEK 6,909 M (6,940) and the margin was 54.2% (53.4).
• Adjusted EBITA amounted to SEK 2,329 M (1,879) and the margin was 18.3% (14.4).
• Adjusted earnings per share amounted to SEK 5.72 (4.48).
• Cash flow after net investments amounted to SEK 3,254 M (2,357).

Outlook 2021

For 2021, we estimate that sales will strengthen based on 2019's level to a minimum of SEK 27 billion as health care returns to normal capacity. In the long term, we expect 2-4% organic annual growth in net sales.

Summary of financial performance1)

	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
SEK M	2021	2020	2021	2020	2020
Order intake	6,934	8,081	13,550	17,533	30,568
Organic change, %	-6.1	17.5	-15.1	31.6	15.6
Net sales	6,587	6,971	12,756	13,004	29,819
Organic change, %	3.6	9.1	7.8	6.6	14.3
Adjusted gross profit	3,624	3,723	6,909	6,940	15,874
Margin, %	55.0	53.4	54.2	53.4	53.2
Adjusted EBITDA	1,629	1,669	3,089	2,745	7,487
Margin, %	24.7	23.9	24.2	21.1	25.1
Adjusted EBITA	1,250	1,218	2,329	1,879	5,724
Margin, %	19.0	17.5	18.3	14.4	19.2
Adjusted EBIT	1,183	1,091	2,195	1,622	5,261
Margin, %	18.0	15.7	17.2	12.5	17.6
Operating profit (EBIT)	1,205	757	2,164	1,261	4,784
Margin, %	18.3	10.9	17.0	9.7	16.0
Profit before tax	1,157	677	2,060	1,103	4,485
Net profit for the period	806	497	1,459	774	3,273
Adjusted net profit for the period	838	839	1,576	1,229	3,965
Margin, %	12.7	12.0	12.4	9.5	13.3
Adjusted earnings per share, SEK	3.04	3.07	5.72	4.48	14.43
Earnings per share, SEK	2.93	1.81	5.29	2.81	11.89
Cash flow from operating activities	1,461	1,638	3,495	2,883	7,199

1) See page 3 for calculations of adjusted performance measures.

Every care has been taken in the translation of this Financial Report. In the event of discrepancies, the Swedish original will supersede the English translation. Figures in tables and diagrams in Getinge's financial statements are not rounded off. This was done for practical reasons and has no material impact on the information presented.

Group performance

Order intake

April – June 2021

Order intake business areas, SEK M	Apr-Jun 2021	Apr-Jun 2020	Org Δ, %	Jan-Jun 2021	Jan-Jun 2020	Org Δ, %	Jan-Dec 2020
Acute Care Therapies	3,785	5,285	-20.7	7,586	12,219	-30.9	19,208
Life Science	978	824	27.9	1,908	1,477	40.1	3,413
Surgical Workflows	2,171	1,972	18.8	4,056	3,837	14.1	7,948
Total	6,934	8,081	-6.1	13,550	17,533	-15.1	30,568

Order intake regions, SEK M	Apr-Jun 2021	Apr-Jun 2020	Org Δ, %	Jan-Jun 2021	Jan-Jun 2020	Org Δ, %	Jan-Dec 2020
Americas	2,523	2,970	-3.7	4,981	6,714	-15.3	11,601
APAC	1,814	1,722	15.6	3,420	3,817	-1.8	6,603
EMEA	2,597	3,389	-19.2	5,149	7,002	-22.2	12,364
Total	6,934	8,081	-6.1	13,550	17,533	-15.1	30,568

Net sales

April – June 2021

Net sales business areas, SEK M	Apr-Jun 2021	Apr-Jun 2020	Org Δ, %	Jan-Jun 2021	Jan-Jun 2020	Org Δ, %	Jan-Dec 2020
Acute Care Therapies	3,930	4,300	1.3	7,704	8,017	6.7	18,719
Life Science	882	698	36.5	1,649	1,302	37.2	2,854
Surgical Workflows	1,774	1,973	-3.2	3,402	3,685	-0.2	8,246
Total	6,587	6,971	3.6	12,756	13,004	7.8	29,819
Net sales regions, SEK M	Apr-Jun 2021	Apr-Jun 2020	Org Δ, %	Jan-Jun 2021	Jan-Jun 2020	Org Δ, %	Jan-Dec 2020
Americas	2,576	2,654	10.3	4,973	5,216	8.8	11,394
APAC	1,535	1,422	18.6	2,890	2,710	16.5	6,329
EMEA	2,475	2,895	-10.0	4,892	5,078	2.0	12,096

Net sales specified by capital goods & consumables, SEK M	Apr-Jun 2021	Apr-Jun 2020	Org Δ, %	Jan-Jun 2021	Jan-Jun 2020	Org Δ, %	Jan-Dec 2020
Capital goods	2,770	3,425	-11.9	5,634	5,793	6.3	15,473
Consumables	3,817	3,546	18.5	7,121	7,211	8.9	14,346
Total	6,587	6,971	3.6	12,756	13,004	7.8	29,819

Net sales – bridge between April-June 2020 and April-June 2021

• The order intake in Acute Care Therapies declined organically as a result of challenging comparative figures due to large orders of advanced ICU ventilators in Q2 2020. Healthy organic growth in all of the business area's other product categories. The strong performance in APAC was mainly due to ventilator orders to India in the quarter.
• Very strong growth in many product categories in Life Science, with a particularly positive trend in APAC.
• Surgical Workflows significantly increased its order intake compared with the very low level last year.
• Life Science increased its net sales in all product categories and the largest increase was in Sterile Transfer.
• Organic growth in Acute Care Therapies despite highly challenging comparative figures in advanced ICU ventilators. The business area reported a positive trend in cardiovascular surgery products and continued high deliveries in ECMO therapy products. Large deliveries of ventilators to India contributed to healthy growth in APAC.
• Net sales in Surgical Workflows were negatively affected by lower order intake in the preceding quarters in Surgical Workplaces and Infection Control. Healthy growth in Americas but weaker recovery in APAC and EMEA.
• Strong growth in consumables after a number of quarters with very strong development in capital goods (mainly due to high sales of ventilators).
• Net sales declined by SEK 384 M, corresponding to -5.5%.
• Net sales for Quadralene, which was acquired at the end of 2020, accounted for SEK 11 M, corresponding to 0.2%.
• Exchange rates had a negative impact of SEK 642 M on sales, corresponding to -9.2%.

• Volume, mix and other items positively affected sales by SEK 247 M, corresponding to 3.6%.

• Currency effects impacted adjusted gross profit by SEK -371 M and adjusted EBITA by SEK -161 M.

• The gross margin increased, primarily due to a higher capacity utilization in plants and in the service organization and improved productivity.
• Adjusted operating expenses fell by 2.9% compared with Q2 2020. The new ways of working that have been introduced continued to make a positive contribution at the same pace.
• Adjusted EBITA rose by SEK 32 M year-on-year and the margin increased by 1.5 percentage points to 19.0%.
• Acquisition and restructuring costs and other items affecting comparability totaled SEK 21 M, and primarily comprised a capital gain of SEK 34 M on the divestment of a property in Mahwah, New Jersey (USA).
• Net financial items improved by SEK 32 M as a result of lower net debt and interest expenses.

Underlying earnings trend

SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Net sales	6,587	6,971	12,756	13,004	29,819
Adjusted gross profit	3,624	3,723	6,909	6,940	15,874
Margin, %	55.0	53.4	54.2	53.4	53.2
Adjusted operating expenses	-1,995	-2,054	-3,819	-4,195	-8,387
Adjusted EBITDA	1,629	1,669	3,089	2,745	7,487
Margin, %	24.7	23.9	24.2	21.1	25.1
Depreciation, amortization and write-downs of
intangible assets and tangible assets 1)	-379	-451	-761	-866	-1,763
Adjusted EBITA	1,250	1,218	2,329	1,879	5,724
Margin, %	19.0	17.5	18.3	14.4	19.2
A Amortization and write-down of acquired
intangible assets1)	-67	-126	-133	-257	-463
Adjusted EBIT	1,183	1,091	2,195	1,622	5,261
Margin, %	18.0	15.7	17.2	12.5	17.6
B Acquisition and restructuring costs	-13	-168	-103	-170	-177
C Other items affecting comparability2)	34	-167	72	-190	-300
Operating profit (EBIT)	1,205	757	2,164	1,261	4,784
Net financial items	-48	-80	-104	-158	-299
Profit before tax	1,157	677	2,060	1,103	4,485
Adjusted profit before tax	1,202	1,138	2,225	1,721
(adjusted for A, B and C)					5,425
Margin, %	18.3	16.3	17.4	13.2	18.2
Taxes	-351	-179	-602	-329	-1,213
D Adjustment of tax 2)	-14	-119	-47	-162	-248
Adjusted net profit for the period (adjusted for A, B, C and D)	838	839	1,576	1,229	3,965
Margin, %	12.7	12.0	12.4	9.5	13.3
Of which, attributable to Parent Company
shareholders	829	836	1,559	1,220	3,931
Average number of shares, thousands	272,370	272,370	272,370	272,370	272,370
Adjusted earnings per share, SEK (adjusted for A, B, C and D)	3.04	3.07	5.72	4.48	14.43

1) Excluding items affecting comparability (see Note 3 for depreciation, amortization and write-downs).

2) See Note 5.

Adjusted EBITA per business area1)

	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
SEK M	2021	2020	2021	2020	2020
Acute Care Therapies	1,211	1,287	2,280	2,187	5,831
Margin, %	30.8	29.9	29.6	27.3	31.1
Life Science	151	97	302	145	393
Margin, %	17.2	13.9	18.3	11.1	13.8
Surgical Workflows	-4	-70	-69	-273	-127
Margin, %	-0.2	-3.5	-2.0	-7.4	-1.5
Group functions and other (incl. eliminations)	-109	-96	-184	-181	-374
Total	1,250	1,218	2,329	1,879	5,724
Margin, %	19.0	17.5	18.3	14.4	19.2

1) See Note 3 for depreciation and write-downs and Note 5 for other items affecting comparability.

Adjusted EBITA – bridge between April-June 2020 and April-June 2021

Acute Care Therapies reduced its adjusted EBITA by SEK 75 M, due to negative currency effects of SEK 136 M. The margin improved by 0.9 of a percentage point, due to a favorable product mix.

• Life Science's adjusted EBITA rose by SEK 55 M and the margin increased by 3.3 percentage points, mainly due to higher sales volumes.

• Surgical Workflows' adjusted EBITA improved by SEK 66 M compared with Q2 2020 and the margin improved by 3.3 percentage points. This was despite lower volumes resulting from COVID-19.

• Adjusted operating expenses fell by 2.9% compared with Q2 2020.

• The new ways of working that have been introduced continued to make a positive contribution at the same pace. But compared with last year (which was affected by extensive lockdowns and restrictions) adjusted operating expenses increased organically by 5.9%.
• One-third of the organic increase in adjusted operating expenses was attributable to the revaluation of operating receivables and liabilities in foreign currency. In addition, the organic trend was impacted by increased customer activities and expenses related to ramping up production capacity.
• Adjusted gross profit was negatively impacted by translation effects of SEK 290 M and negatively impacted by transaction effects and hedging outcome of SEK 81 M.
• Adjusted EBITA was negatively impacted by translation effects of SEK 114 M and negatively by the net of transaction effects, hedging outcome and revaluation of operating receivables and liabilities in foreign currency of SEK 47 M.
• Cash flow after net investments remained strong, mainly due to positive operating profit and continued effective control of working capital.
• A dividend of SEK 817 M was paid to shareholders in the quarter (last year's dividend was paid in the third quarter).
• Net debt was positively affected by the strong cash flow, and net debt in relation to adjusted EBITDA R12M continued to improve compared with last year.
• Amortization and write-downs related to R&D fell by SEK 180 M compared with the preceding year. There were no write-downs during the quarter.
• Gross expenses for R&D declined by SEK 168 M or 35.4%. The difference was due to higher amortization and write-downs in Q2 2020.
• Capitalized development costs declined SEK 33 M or 27% compared with the year-earlier period.

Adjusted operating expenses

(excluding depreciation, amortization and write-downs and other items affecting comparability)1) SEK M Apr-Jun 2021 Apr-Jun 2020 Jan-Jun 2021 Jan-Jun 2020 Jan-Dec 2020 Selling expenses -965 -1,037 -1,975 -2,245 -4,497 Administrative expenses -781 -784 -1,466 -1,580 -3,048 Research and development costs -205 -206 -396 -394 -770 Other operating income and expenses -44 -28 17 24 -72 Total -1,995 -2,054 -3,819 -4,195 -8,387

1) See Note 3 for depreciation and write-downs and Note 5 for other items affecting comparability.

Currency impact

	Apr-Jun	Jan-Jun
SEK M	2021	2021
Net sales	-642	-1,280
Adjusted gross profit	-371	-789
Adjusted EBITDA	-186	-382
Adjusted EBITA	-161	-330
Adjusted EBIT	-153	-314

Cash flow and financial position1)

SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Cash flow before changes in working capital	1,336	1,453	2,586	2,157	6,352
Changes in working capital	125	185	909	726	847
Net investments in non-current assets	-233	-270	-241	-526	-993
Cash flow after net investments	1,228	1,368	3,254	2,357	6,207
Net interest-bearing debt			5,254	10,925	7,509
In relation to adjusted EBITDA1) R12M, multiple			0.7	1.8	1.0
Net interest-bearing debt, excl. pension provisions			2,040	7,432	4,150
In relation to adjusted EBITDA1) R12M, multiple			0.3	1.2	0.6

1) See Note 5 for items affecting comparability and Note 7 for alternative performance measures.

Research and development

	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
SEK M	2021	2020	2021	2020	2020
R&D costs, gross	-306	-474	-591	-780	-1,462
In relation to net sales, %	4.6	6.8	4.6	6.0	4.9
Capitalized development costs	89	122	174	228	429
In relation to net sales, %	1.4	1.7	1.4	1.8	1.4
Research and development costs, net	-216	-353	-418	-552	-1,033
Amortization and write-downs of
capitalized R&D	-90	-270	-189	-398	-783
Of which write-downs	0	-117	0	-117	-206

Acute Care Therapies

Acute Care Therapies offers world-leading solutions for life support in acute health conditions. The offering includes solutions for cardiovascular procedures and a broad selection of products and therapies for intensive care. The addressable market, excluding the effects of the COVID-19 pandemic, amounts to SEK 85 billion with expected long-term organic growth of 2-4% per year.

Order intake and net sales

Order intake regions, SEK M	Apr-Jun 2021	Apr-Jun 2020	Org Δ, %	Jan-Jun 2021	Jan-Jun 2020	Org Δ, %	Jan-Dec 2020
Americas	1,734	2,196	-10.2	3,470	5,223	-23.9	8,483
APAC	982	1,039	4.3	1,879	2,538	-18.5	3,912
EMEA	1,069	2,051	-44.5	2,237	4,458	-46.3	6,814
Total	3,785	5,285	-20.7	7,586	12,219	-30.9	19,208
Net sales regions, SEK M	Apr-Jun 2021	Apr-Jun 2020	Org Δ, %	Jan-Jun 2021	Jan-Jun 2020	Org Δ, %	Jan-Dec 2020
Americas	1,777	1,916	5.9	3,475	3,712	7.2	8,431
APAC	921	791	29.0	1,770	1,618	20.2	3,722
EMEA	1,232	1,594	-18.0	2,460	2,686	-2.2	6,566
Total	3,930	4,300	1.3	7,704	8,017	6.7	18,719
Net sales specified by
capital goods &	Apr-Jun	Apr-Jun		Jan-Jun	Jan-Jun		Jan-Dec
consumables, SEK M	2021	2020	Org Δ, %	2021	2020	Org Δ, %	2020
Capital goods	1,175	1,755	-26.2	2,642	2,843	2.4	8,593
Consumables	2,756	2,546	20.3	5,063	5,174	9.0	10,126
Total	3,930	4,300	1.3	7,704	8,017	6.7	18,719

Underlying earnings trend1)

SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Net sales	3,930	4,300	7,704	8,017	18,719
Adjusted gross profit	2,519	2,715	4,829	5,001	11,536
Margin, %	64.1	63.1	62.7	62.4	61.6
Adjusted EBITDA	1,414	1,550	2,691	2,679	6,833
Margin, %	36.0	36.0	34.9	33.4	36.5
Depreciation, amortization and write-downs of intangible assets and tangible assets	-203	-263	-411	-492	-1,002
Adjusted EBITA	1,211	1,287	2,280	2,187	5,831
Margin, %	30.8	29.9	29.6	27.3	31.1

1) See Note 3 for depreciation and write-downs and Note 5 for other items affecting comparability.

Events in the business area

• Getinge received US FDA 510(k) clearance for three products in the US, which expands availability of the Servo ventilator platform. In addition to the clearance for several new software options for the Servo-u and Servo-n ventilators across all patient categories (adult, pediatric and neonatal), Getinge also received clearance for the new Servo-u MR ventilator for the MRI room. The new options and the Servo-u MR ventilator are expected to be available in the US in July 2021.
• In April, Getinge reached an important milestone with the commercial availability of HL 40 in Germany, the Netherlands, Italy, France and Spain, followed by Sweden, Australia, UK and Ireland. Getinge's HL 40 heart-lung machine is designed to increase safety and ensure maximum uptime in cardiac surgery.

• A property in Mahwah, New Jersey, USA, was divested during the quarter as part of the ongoing consolidation of production facilities in the state. Capital gains on sales amounted to SEK 34 M and are recognized as an item affecting comparability during the quarter. The consolidation, which involves the relocation of production in Fairfield (this property was divested and communicated in Q1 2021) and Mahwah to the nearby Wayne plant, is scheduled to be completed by the end of 2021.

• The lower organic order intake was due to very strong comparative figures in ventilators in Q2 2020. Other product categories made a strong recovery and achieved solid growth for the quarter.

• Growth in APAC was mainly the result of larger ventilator orders in India, which was severely affected by the pandemic during the quarter.
• Strong organic growth in cardiovascular surgery products as a result of high volumes of surgeries, primarily in North America.
• Continued healthy growth in ECMO therapy products.
• Challenging comparative figures in ventilators in Q2 2021 contributed to a sharp decline in organic net sales for this product category. This was despite significant deliveries to India during the quarter.
• The adjusted gross margin rose 1.0 percentage point in relation to the year-earlier quarter, primarily as a result of a favorable product mix in the form of higher sales of products for cardiovascular procedures. Increased productivity due to previously completed rationalization and new ways of working contributed positively to the performance.
• Adjusted operating expenses fell by 5.2%. These expenses increased organically by 4.6%, mainly as a result of customer activities, productivity-enhancing measures related to quality and increased product development.
• A favorable product mix and lower operating expenses contributed to the adjusted EBITA margin strengthening 0.9 of a percentage point compared with the preceding year.
• Currency effects contributed SEK -426 M to sales, SEK -264 M to adjusted gross profit and SEK -136 M to adjusted EBITA.

Life Science

Life Science offers a comprehensive range of equipment, technical expertise and consultation to prevent contamination in pharmaceutical and medical device production and with the aim to strengthen integrity of results in biomedical research. The addressable market, excluding the effects of the COVID-19 pandemic, amounts to SEK 33 billion with expected long-term organic growth of 8–10% per year.

Order intake and net sales

Order intake regions, SEK M	Apr-Jun 2021	Apr-Jun 2020	Org Δ, %	Jan-Jun 2021	Jan-Jun 2020	Org Δ, %	Jan-Dec 2020
Americas	324	361	-0.4	602	629	7.2	1,336
APAC	250	138	95.9	507	234	135.7	558
EMEA	404	324	30.4	798	613	37.3	1,518
Total	978	824	27.9	1,908	1,477	40.1	3,413
Net sales regions, SEK M	Apr-Jun 2021	Apr-Jun 2020	Org Δ, %	Jan-Jun 2021	Jan-Jun 2020	Org Δ, %	Jan-Dec 2020
Americas	318	267	33.4	626	566	24.1	1,103
APAC	167	112	62.1	277	182	64.5	473
EMEA	397	319	30.2	746	555	41.6	1,278
Total	882	698	36.5	1,649	1,302	37.2	2,854
Net sales specified by
capital goods &	Apr-Jun	Apr-Jun		Jan-Jun	Jan-Jun		Jan-Dec
consumables, SEK M	2021	2020	Org Δ, %	2021	2020	Org Δ, %	2020
Capital goods	675	490	48.0	1,238	900	48.5	2,029
Consumables	207	207	9.4	411	402	11.9	825
Total	882	698	36.5	1,649	1,302	37.2	2,854

Underlying earnings trend1)

SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Net sales	882	698	1,649	1,302	2,854
Adjusted gross profit	367	285	696	538	1,176
Margin, %	41.6	40.9	42.2	41.3	41.2
Adjusted EBITDA	186	130	371	210	522
Margin, %	21.1	18.6	22.5	16.1	18.3
Depreciation, amortization and write-downs of intangible assets and tangible assets	-35	-33	-69	-65	-128
Adjusted EBITA	151	97	302	145	393
Margin, %	17.2	13.9	18.3	11.1	13.8

1) See Note 3 for depreciation and write-downs and Note 5 for other items affecting comparability.

Events in the business area

• In the quarter, Life Science focused on further streamlining and increasing production capacity to meet the high and persistent demand that exists in all product categories. One of the ongoing projects for achieving higher capacity is the establishment of production of DPTE BetaBags® in Merrimack, USA. The project is proceeding according to plan and production in Merrimack is expected to start in the latter part of 2021 after validation of processes and products.

• Getinge supported scientists at the Delft University of Technology in the Netherlands in their research driven by the fight against climate change. By developing an automated Applikon bioreactor, tailored to improve the studies of genetically modified cells in the quest to replace petrochemicals (which can be included in everything from food to fuel) with plant-based materials, science has been able to transform a sustainable solution into practice. Applikon is already a supplier of bioreactors to a Dutch hamburger chain, which produces "real" meat based on stem cells. This manufacturing method, adapted for bioreactors, has far less negative effect on the environment compared to what the regular meat industry can offer.

• Sharp increase in order intake in most product categories, particularly APAC.

• The healthy growth in Sterile Transfer products is continuing.
• Strong organic growth in bioreactors from Applikon, which was acquired at the start of 2020. Sterilizers and service also increased strongly.
• Strong organic growth in net sales in Sterile Transfer products, washerdisinfectors and bioreactors from Applikon. Invoicing also increased in service and sterilizers, albeit at not as high a rate.
• Robust growth in all regions, with a particularly favorable performance in APAC.
• The robust growth in capital goods was partly due to DPTE Beta Bags® being reported as capital goods.
• The adjusted gross margin strengthened by 0.7 of a percentage point, primarily as a result of higher sales volumes and increased productivity.
• Adjusted operating expenses increased by 16.2%. These expenses increased organically by 28.6% as a result of ramping up production capacity, product development and revaluations of operating receivables and liabilities in foreign currency.
• Increased sales volumes contributed to adjusted EBITA rising by SEK 55 M year-on-year, despite negative currency effects. The margin improved to 17.2%.
• Currency effects impacted sales by SEK -70 M, adjusted gross profit by SEK -46 M and adjusted EBITA by SEK -24 M.

Surgical Workflows

Surgical Workflows offers products and solutions to serve as an end-to-end partner for optimizing the quality, safety and capacity usage of the sterile supply departments and operating rooms. The addressable market, excluding the effects of the COVID-19 pandemic, amounts to SEK 62 billion with expected long-term organic growth of 2–4% per year.

Order intake and net sales

• Significant organic growth in order intake in all regions (from very low levels last year), meaning that order bookings are recovering.
• Growth particularly high in Infection Control.
• Slightly negative organic sales trend, which was caused by long lead times from order to delivery and lower order bookings at the start of the quarter compared with the preceding year.
• Very high growth in Integrated Workflow Solutions for the quarter.
• Organic growth in both North and South America, albeit from low levels.
• The organization's focus on the service and consumables offering made a positive contribution in the quarter.
• The adjusted gross margin increased by 5.0 percentage points, primarily as a result of the product mix and increased productivity. Currency effects and under absorption negatively impacted the margin.
• Adjusted operating expenses fell by 5.7%. These expenses increased organically by 0.9% compared with Q2 2020, mainly as a result of revaluations of operating receivables and liabilities in foreign currency.
• Despite a decline in sales volumes, adjusted EBITA improved by SEK 66 M and the margin strengthened by 3.3 percentage points.
• Currency effects contributed SEK -146 M to sales, SEK -61 M to adjusted gross profit and SEK -6 M to adjusted EBITA.

Order intake regions, SEK M	Apr-Jun 2021	Apr-Jun 2020	Org Δ, %	Jan-Jun 2021	Jan-Jun 2020	Org Δ, %	Jan-Dec 2020
Americas	465	412	27.9	909	861	20.3	1,782
APAC	581	546	16.6	1,033	1,045	7.8	2,134
EMEA	1,124	1,014	16.3	2,114	1,932	14.7	4,032
Total	2,171	1,972	18.8	4,056	3,837	14.1	7,948

Net sales regions, SEK M	Apr-Jun 2021	Apr-Jun 2020	Org Δ, %	Jan-Jun 2021	Jan-Jun 2020	Org Δ, %	Jan-Dec 2020
Americas	481	472	15.4	872	938	6.0	1,860
APAC	447	519	-6.7	843	909	0.3	2,133
EMEA	846	982	-10.3	1,687	1,837	-3.7	4,253
Total	1,774	1,973	-3.2	3,402	3,685	-0.2	8,246

Net sales specified by capital goods & consumables, SEK M	Apr-Jun 2021	Apr-Jun 2020	Org Δ, %	Jan-Jun 2021	Jan-Jun 2020	Org Δ, %	Jan-Dec 2020
Capital goods	920	1,180	-15.5	1,755	2,050	-6.7	4,851
Consumables	854	793	15.1	1,648	1,635	7.8	3,394
Total	1,774	1,973	-3.2	3,402	3,685	-0.2	8,246

Underlying earnings trend1)

SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Net sales	1,774	1,973	3,402	3,685	8,246
Adjusted gross profit	738	722	1,384	1,400	3,163
Margin, %	41.6	36.6	40.7	38.0	38.4
Adjusted EBITDA	134	83	205	31	495
Margin, %	7.6	4.2	6.0	0.8	6.0
Depreciation, amortization and write-downs of
intangible assets and tangible assets	-138	-152	-274	-304	-622
Adjusted EBITA	-4	-70	-69	-273	-127
Margin, %	-0.2	-3.5	-2.0	-7.4	-1.5

1) See Note 3 for depreciation and write-downs and Note 5 for other items affecting comparability.

Events in the business area

• In the quarter, Torin Artificial Intelligence (AI) was launched, which is designed to improve the efficiency of scheduling surgeries. Torin was launched in 2020 to facilitate the planning, management and optimization of surgeries. The introduction of a new set of advanced features for Torin greatly expands capacity in key areas, including predicting surgery duration, managing waiting lists and data security.
• Getinge's newly established Project & Innovation Center in India is performing positively. By the end of Q2, the center had manufactured and delivered 64 modular operating rooms globally, representing an increase of 50% compared to the same period in 2020.
• A large order of Solsus 66, an energy and cost-effective steam sterilizer, was signed in the quarter, further confirming the positive development for the latest launch from the production unit in Suzhou, China.

7 | Interim report Jan – Jun 2021

Other information

Financial impact of COVID-19

The outbreak of COVID-19 was characterized by the WHO as a pandemic on March 11, 2020. In this situation, Getinge is prioritizing the health and safety of its employees and is taking measures to limit the spread of the virus by following the instructions of the relevant authorities. In addition, Getinge has made considerable efforts to enhance production capacity for ventilators and safeguard production of critical and life support products. Getinge has also worked intensively together with hospitals and pharmaceutical companies around the world to combat COVID-19 and assist in manufacturing vaccines.

The order intake for the Acute Care Therapies business area continued to normalize during the second quarter, which entailed an organic decline of 20.7%. The decline was related to advanced ICU ventilators, for which demand increased substantially in the second quarter of 2020 as a result of the COVID-19 pandemic. The business area's other product segments, which were negatively impacted by the pandemic since non-essential surgeries were postponed, made a strong recovery and displayed high growth.

The order intake for the Life Science business area rose organically by 27.9%. This was largely due to the substantial increase in the order intake for the product categories of bioreactors, sterilizers and service, which were negatively affected by the COVID-19 pandemic. The order intake for Sterile Transfer products used to manufacture vaccines continued to display high growth. In Surgical Workflows – the business area that was exclusively negatively affected by the pandemic – the order intake increased organically by 18.8% and all product categories reported positive growth.

It has been possible to continue work on the installation and servicing of products without any major disruptions, and this was not negatively affected by restrictions in key markets. The production operations experienced minor problems with deliveries of components, which could be resolved without any significantly negative consequences arising. A strong recovery in the areas of Acute Care Therapies that are not directly linked to treating patients with COVID-19, and that were negatively impacted by the pandemic, contributed to the improvement in sales and earnings for the business area. Sales of ventilators fell considerably compared with last year, despite significant deliveries to India. The decline was due to challenging comparative figures as a result of COVID-19 related orders in 2020. However, sales for ECMO therapy products continued to display healthy growth.

Life Science's sales and earnings were positively impacted by higher sales growth in the product categories of Sterile Transfer, bioreactors and washer-disinfectors. Sales for Surgical Workflows declined slightly due to long lead times between orders and deliveries, as well as lower order bookings compared with last year. Despite lower sales volumes, earnings

improved as a result of productivity enhancements.

As time passes, the situation regarding the pandemic could result in negative financial effects due to lower demand and disruptions to production. It also cannot be ruled out that installation and service of products at hospitals and care facilities could be limited by restrictions to reduce the spread of the virus. The Group's cash flow could decline as a result of inventory build-up and impaired payment discipline among the Group's customers. Getinge is closely following developments regarding the pandemic and is continuously evaluating the operational and financial effects. Some minor measures to adjust costs were carried out and plans have been made to further adjust costs if necessary.

For 2021, Getinge believes that sales will gradually strengthen from the level in 2019 and will amount to a minimum of SEK 27 billion as health care returns to normal capacity. In the long term, we expect 2-4% organic annual growth in net sales.

Getinge grows with social funding

Getinge has launched a framework for social financing and issued a social bond of SEK 570 M in the second quarter of 2021. The funds will be used to expand the production capacity of products that save lives.

Customer Experience Center to open in Frankfurt

Getinge will open a Customer Experience Center for international customers in Frankfurt, Germany. There, visitors get an opportunity to experience Getinge's product portfolio and take part of the company's combined expertise. The initiative is part of the company's continuous efforts to collaborate with customers and society at large.

Passion for Life in daily work

For much of the quarter, Getinge's service team in India worked around the clock to help hospitals with equipment needed to treat the growing number of COVID-19 patients. The driving force to continue entering dangerous hospital areas originates from Getinge's brand promise – Passion for Life, and people's inherent drive to make a difference to others who are in difficult and vulnerable situations.

Update regarding Consent Decree with the FDA

	Jun 30	Jun 30	Dec 31
SEK M	2021	2020	2020
Provision at beginning of period	89	234	234
Used amount	-40	-61	-136
Provisions	-	-	-
Translation differences	1	1	-9
Provision at close of period	50	174	89

The Consent Decree with the FDA was signed in February 2015 and originally encompassed a total of four production units in the US and Germany. Improvement plans for the identified corrections have been prepared for each unit. Such identified corrections have been completed at the two production units in the US. This work is expected to continue in 2021 at Hechingen. In autumn 2018 and the start of 2019, Getinge's production units in Fairfield and Mahwah received warning letters from the FDA. The reason for the warning letters was routine inspections performed by the FDA at these production units in 2018. The FDA's observations and opinions pertain to procedures and processes linked to demands for supplier checks, processes for the approval of design changes and incident reporting. The same observations were identified by Getinge during internal inspections in the fourth quarter of 2017. The local organization has since worked to correct the shortcomings in the quality management system. Getinge has submitted an action plan, including activities and a related schedule, to the FDA and improvements are proceeding according to plan.

Events after the end of the reporting period

No significant events occurred after the end of the reporting period.

Getinge's primary risks, consequences and management1)

	Description	Potential consequences	Management
New competitors and new technology	Certain markets and product segments have niche players who offer solutions outside customary market behavior.	These competitors could capture market shares from more established companies such as Getinge, resulting in a negative effect on Getinge's sales and earnings.	Getinge's long-term strategy includes active business intelligence of the competitive landscape to react to this type of competitor. The industry is also considered to have high barriers to entry since medical devices are subject to extensive regulatory requirements.
External catastrophes, such as geopolitical risks, natural disasters, terrorism, pandemics, etc.	These are often quickly escalating situations that affect large parts of the world, a country, a region or a specific site.	The primary consequence of this type of risk is that employees could be injured. There is also the risk of business interruptions that could have a negative impact on sales and earnings.	Active business intelligence can detect some of these risks at an early stage and the Group will then have the chance to adapt to the new situation. A process to further enhance the Group's work on continuity risks was started in 2021. As part of this process, scenarios based on external shocks are also included in the risks that Getinge proactively works on.
Profitability dependent on certain products and markets	In certain cases, a relatively large share of the total profitability of a product is linked to sales in a certain market.	The consequence of such a situation is that profitability can be adversely affected if sales volumes were to decline due to a changed competitive situation in the market.	Getinge works actively to monitor profitability per product and market in order to ensure profitability over time. To reduce the sensitivity of profitability, the Group actively works on ensuring that it has the right cost level in relation to the current price levels in the market. Getinge also works actively to establish itself in new markets.
Product quality from a customer perspective	In certain cases, Getinge's products do not meet customer expectations.	Customers experiencing shortcomings in Getinge's product quality could chose other suppliers. This could entail a risk of lower sales and lower profitability over time.	Getinge applies a far-reaching quality process that aims to ensure a high and consistent level of quality to meet customers' requirements. This is an ongoing process that results in continuous improvements. When quality fails, it is important to rapidly bring the right equipment on site to rectify the fault during the first service visit. Getinge closely monitors the "first time fix" factor of its services operations and works extensively to make improvements related to such faults or incidents.
Laws and regulations mainly on business ethics	Contraventions of competition law, anti-corruption, data privacy (GDPR) or trade restrictions.	Could lead to fines or penalties in one or more markets and have a negative impact on the Getinge brand.	Getinge has a zero tolerance policy when it comes to contraventions of these regulations. The Group's Code of Conduct is very clear in this respect. The Ethics & Compliance Group staff function was expanded during the year and the head of the department has been a member of the Getinge Executive Team since 2020 to further demonstrate how highly the organization prioritizes these issues. A comprehensive training program in the Code of Conduct is provided on an ongoing basis and the aim is for all employees to undergo training in the field every year. Getinge's business ethics regulations also apply to external distributors who sell Getinge's products in a large number of countries in which the Group does not have its own presence.
Digitization and innovation	Getinge's future growth depends on the company's ability to develop new and successful products, particularly in the area of digitization. Getinge's ability to innovate is a very important factor in retaining and establishing leading positions for the Group's product segments.	Innovation efforts are costly and it is not possible to guarantee that developed products will be commercially successful, which could result in impairment. In the long term, the Group's position in the market could be negatively affected if Getinge is unsuccessful in this area.	As a means of maximizing the return on investments in research and development, the Group applies a structured selection and planning process that includes careful analyses of the market, technological progress, choice of production method and selection of subcontractors. The actual development work is also conducted in a structured manner and each project undergoes a number of fixed control points. The Group is particularly concerned with ensuring access to the right skills, retaining key individuals, being an attractive employer to recruit talent externally, and identifying and developing talent within the organization.

Other risk areas of major importance to Getinge

	Description	Potential consequences	Management
Risks related to health care reimbursement systems	Political decisions can change the conditions for health care through changed reimbursement models for health care providers.	Changes to the health care reimbursement system can have a major impact on individual markets by reducing or deferring grants.	This is difficult to influence since these decisions are outside Getinge's control but the risk is limited by Getinge being active in a large number of geographical markets.

1) For information regarding risks related to COVID-19 and the ongoing pandemic, refer to the section on "Financial impact of COVID-19" on page 8.

Quality risks from a regulatory perspective	Significant parts of Getinge's product range are covered by legislation stipulating rigorous assessments, quality control and documentation.	It cannot be ruled out that Getinge's operations, financial position and earnings may be negatively impacted in the future by difficulties in complying with current regulations and requirements of authorities and control bodies or changes to such regulations and requirements.	To limit these risks to the greatest possible extent, Getinge conducts extensive work focused on quality and regulatory issues. The Group-wide quality and regulatory compliance function has a representative in the Getinge Executive Team and also a representative on the management teams of each business area, and the function is represented in all R&D and production units. In addition, Getinge's sales force and service technicians receive relevant quality and regulatory training every other year to renew their certification. This is a requirement for representing Getinge. The majority of the Group's production facilities are certified according to the medical device quality standard ISO 13485 and/or the general quality standard ISO 9001. In total, the Group allocates significant resources to quality and regulatory matters in order to best manage this risk exposure, and quality is the overall priority in the Group's strategy.
Product liability risks	Health care suppliers run a risk, like other players in the health care industry, of being subject to product liability and other legal claims.	Such claims can involve large amounts and significant legal expenses. Getinge carries customary indemnity and product liability insurance, but there is a risk that Getinge's insurance coverage may not fully cover product liability and other claims.	Getinge acts as if it does not have any insurance cover. The best way of managing these risks is the extensive quality and regulatory activities performed by the Group. Sources of potential future claims for damages are monitored through active incident reporting. Corrective and protective action (CAPA) is initiated when necessary to investigate the root cause and correct the product design to remedy the fault.
Risks related to intellectual property rights	Getinge's leading positions in many of the Group's product segments are based on patent and trademark rights. These rights could lead to disputes with competitors.	Getinge invests significant resources in product development that results in patent rights. There is a risk that the Group will be involved in costly disputes concerning such rights and thus a risk that invested resources will not generate the expected return if such a dispute is lost.	To secure returns on these investments, Getinge actively upholds its rights and monitors competitors' activities closely. If required, Getinge will protect its intellectual property rights through legal proceedings.
Financial risks	Getinge is exposed to a number of financial risks in its operations. Financial risks principally pertain to risks related to currency risks, interest-rate risks, and credit and counterparty risks.	Fluctuations in exchange rates and interest rates and changes in counterparties' credit profiles could adversely affect the Group's income statement and balance sheet.	Risk management is regulated by the finance policy adopted by the Board and a Treasury directive decided by the Getinge Executive Team based on the finance policy. The ultimate responsibility for managing the Group's financial risks and developing methods and principles of financial risk management lies with the Getinge Executive Team and the treasury function. For more detailed information concerning these risks, refer to Note 28 in the Annual Report 2020.
Information and data security	Leaks of confidential information or hacking into the Group's IT system resulting in restricted availability or interruptions of business critical systems.	Leaks of personal data could lead to high fines. Hacking into IT-systems could lead to business interruptions. Loss of sensitive information may adversely affect confidence in the company.	The Group's IT structure can be considered to be decentralized, which reduces the consequence of any unauthorized access. The Group improved user authentication during the year to prevent hacking. This work will continue in the year ahead. The Group also closely monitors critical systems to prevent hacking.
Deficiencies in cyber security	Security deficiencies in the Group's digital offering, such as connected machines at customer sites.	Restricted availability of equipment delivered by Getinge to its customers, which could result in interruptions to the hospital operations and it not being possible to offer patients sufficient care in critical situations.	The Group works diligently to ensure the integrity of its equipment that is connected to the Internet. In-depth access testing and other measures are carried out before these solutions are offered to customers. This is considered to be a low risk for most products today since the products are not connected when patients are treated and there are only a few cases in which the products process sensitive information. Alongside these efforts to ensure the security of the digital offering, Getinge works with standard preventive measures to raise cyber security throughout the company.
Business interruptions	Unforeseen and sudden events, such as natural disasters, fires, etc. that result in disruptions to production or the supply chain.	Potential interruptions to production could lead to delivery delays or in the worst case non delivery to customers. Such a situation risks negative consequences for the Group's earnings.	The Group continuously works on claims prevention at its plants to ensure a high level of availability and delivery reliability. External experts inspect the Group's plants on a regular basis to identify and take action on potential interruption risks, following a Group-wide standard. Activities to further strengthen the Group's continuity work will be conducted in 2021 and 2022.

Seasonal variations

Getinge's sales and earnings are affected by seasonal variations. The highest net sales are usually generated in the fourth quarter, followed by the second, third and first quarters. The shares of sales derived from capital goods and consumables also normally changes during the year, with a higher share of sales of capital goods toward the end of the year.

Transactions with related parties

Getinge carried out normal commercial transactions with Arjo (which was distributed to shareholders in December 2017) for the sale and purchase of goods and services. In addition, no other significant transactions with related parties occurred during the period other than transactions with subsidiaries.

Forward-looking information

This report contains forward-looking information based on the current expectations of company management. Although management deems that the expectations presented by such forwardlooking information are reasonable, no guarantee can be given that these expectations will prove correct. Accordingly, the actual future outcome could vary considerably compared with what is stated in the forward-looking information, due to such factors as changed conditions regarding finances, market and competition, changes in legal and regulatory requirements and other political measures, and fluctuations in exchange rates.

Getinge's financial targets and dividend policy

• Average annual organic growth in net sales: 2-4%
• Average earnings per share growth: >10%
• Getinge's dividend policy is to pay dividends of 30-50% of net profit to shareholders.

Assurance

The Board of Directors and CEO assure that the interim report provides a true and fair review of the Parent Company and the Group's operations, position and earnings and describes the material risks and uncertainties faced by the Parent Company and the Group.

Gothenburg, July 16, 2021

Johan Malmquist Chairman, AGM-elected Board member

Carl Bennet Vice Chairman, AGM-elected Board member

Johan Bygge AGM-elected Board member

Cecilia Daun Wennborg AGM-elected Board member

Barbro Fridén AGM-elected Board member

Dan Frohm AGM-elected Board member

Sofia Hasselberg AGM-elected Board member

Mattias Perjos President & CEO, AGM-elected Board member

Rickard Karlsson Board member Representative of the Swedish Metalworkers' Union

Malin Persson AGM-elected Board member

Åke Larsson Board member Representative of the Swedish Association of Graduate Engineers

Kristian Samuelsson AGM-elected Board member

This interim report is unaudited.

Consolidated financial statements

Consolidated income statement

	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
					2020
					29,819
					-15,097
					14,722
	-1,092	-1,259	-2,226	-2,680	-5,285
	-892	-893	-1,686	-1,794	-3,498
	-216	-353	-418	-552	-1,033
	-11	0	-12	-2	-8
	-2	-168	-90	-168	-169
	-10	-28	89	24	55
2, 3	1,205	757	2,164	1,261	4,784
2	-48	-80	-104	-158	-299
2	1,157	677	2,060	1,103	4,485
	-351	-179	-602	-329	-1,213
	806	497	1,459	774	3,273
					3,239
					34
	806	497	1,459	774	3,273
					11.89
	272,370	272,370	272,370	272,370	272,370
	Note 2 2, 3	2021 6,587 -3,160 3,427 798 9 2.93	2020 6,971 -3,513 3,458 494 3 1.81	2021 12,756 -6,248 6,507 1,442 17 5.29	2020 13,004 -6,570 6,434 765 9 2.81

1) Before and after dilution

Consolidated statement of comprehensive income

SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Net profit for the period	806	497	1,459	774	3,273
Other comprehensive income
Items that cannot be restated in profit for the period
Actuarial gains/losses pertaining to defined-benefit pension
plans	-5	-136	140	50	-13
Tax attributable to items that cannot be restated in profit	2	39	-33	-18	-1
Items that can later be restated in profit for the period
Translation differences and hedging of net investments	-406	-1,433	594	-31	-2,319
Cash flow hedges	6	-27	-22	-81	-16
Tax attributable to items that can be restated in profit	-4	-22	-6	19	21
Other comprehensive income for the period, net after tax	-408	-1,579	674	-60	-2,327
Total comprehensive income for the period	399	-1,081	2,132	714	946
Comprehensive income attributable to:
Parent Company shareholders	397	-1,060	2,114	705	936
Non-controlling interests	1	-21	18	9	9
Total comprehensive income for the period	399	-1,081	2,132	714	946

Consolidated balance sheet

	June 30	June 30	Dec 31
SEK M Note Assets	2021	2020	2020
Intangible assets	22,437	24,672	22,085
Tangible assets	2,923	3,131	2,956
Right-of-use assets	1,022	940	1,017
Financial assets	1,279	1,660	1,526
Inventories	4,852	5,628	4,513
Accounts receivable	3,997	5,098	5,338
Other current receivables	1,683	2,357	1,524
Cash and cash equivalents 6	3,468	5,850	6,056
Total assets	41,660	49,337	45,014
Equity and liabilities
Equity	22,769	21,272	21,486
Provisions for pensions, interest-bearing 6	3,215	3,493	3,359
Lease liabilities 6	997	912	990
Other interest-bearing liabilities 6	4,511	12,370	9,216
Other provisions	3,154	3,599	3,115
Accounts payable	1,579	2,038	1,446
Other non-interest-bearing liabilities	5,436	5,653	5,402
Total equity and liabilities	41,660	49,337	45,014

Changes in equity for the Group

		Other capital		Retained		Non controlling	Total
SEK M	Share capital	provided	Reserves1)	earnings	Total	interests	equity
Opening balance at January 1, 2020	136	6,789	1,965	11,606	20,496	477	20,973
Total comprehensive income for the period	-	-	-2,288	3,225	936	9	946
Dividend	-	-	-	-409	-409	-24	-433
Closing balance at December 31, 2020	136	6,789	-323	14,422	21,024	462	21,486
Opening balance at January 1, 2021	136	6,789	-323	14,422	21,024	462	21,486
Total comprehensive income for the period	-	-	565	1,549	2,114	18	2,132
Dividend	-	-	-	-817	-817	0	-817
Transactions with non-controlling interests	-	-	-	-	-	-32	-32
Closing balance at June 30, 2021	136	6,789	242	15,154	22,321	448	22,769

1) Reserves pertain to cash flow hedges, hedges of net investments and translation differences.

Consolidated cash flow statement

SEK M	Note	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Operating activities
Operating profit (EBIT)		1,205	757	2,164	1,261	4,784
Add-back of depreciation, amortization and write-downs	3	445	744	894	1,290	2,467
Other non-cash items		-37	3	-70	7	60
Add-back of restructuring costs1)		2	168	90	168	169
Paid restructuring costs		-66	-57	-99	-131	-262
Financial items		-53	-69	-112	-161	-313
Taxes paid		-160	-93	-281	-277	-553
Cash flow before changes in working capital		1,336	1,453	2,586	2,157	6,352
Changes in working capital Inventories		-138	-546	-286	-964	-544
Operating receivables		257	237	1,299	1,232	1,121
Operating liabilities		6	494	-103	458	270
Cash flow from operating activities		1,461	1,638	3,495	2,883	7,199
Investing activities
Acquisition of operations	8	-	-6	-34	-829	-999
Investments in intangible assets and tangible assets		-235	-284	-419	-546	-1,045
Divestment of non-current assets		2	14	178	20	53
Cash flow from investing activities		-233	-276	-275	-1,355	-1,991
Financing activities
Change in interest-bearing liabilities		-2,535	2,645	-4,812	3,311	543
Lease payments		-98	-95	-193	-185	-390
Change in long-term receivables		0	-10	1	-13	-17
Dividend paid		-817	-6	-817	-6	-433
Cash flow from financing activities		-3,450	2,534	-5,821	3,107	-297
Cash flow for the period		-2,222	3,896	-2,601	4,634	4,911
Cash and cash equivalents at the beginning of the period		5,691	1,989	6,056	1,254	1,254
Translation differences		-2	-36	13	-39	-110
Cash and cash equivalents at the end of the period		3,468	5,850	3,468	5,850	6,056

1) Excluding write-downs on non-current assets

Note 1 Accounting policies

The Group's interim report has been prepared in accordance with IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act. For the Parent Company, the report has been prepared in accordance with the Swedish Annual Accounts Act and RFR 2. The accounting policies adopted are consistent with those applied for the 2020 Annual Report and should be read in conjunction with that Annual Report.

For practical reasons, the figures in this interim report have not been rounded off, which is why notes and tables may not total correct amounts. Unless otherwise specified, all figures pertain to SEK M and figures in parentheses pertain to the year-earlier period. The interim report provides alternative performance measures for monitoring the Group's operations.

Note 2 Segment overview

	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Net sales, SEK M	2021	2020	2021	2020	2020
Acute Care Therapies	3,930	4,300	7,704	8,017	18,719
Life Science	882	698	1,649	1,302	2,854
Surgical Workflows	1,774	1,973	3,402	3,685	8,246
Total	6,587	6,971	12,756	13,004	29,819
	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Gross profit, SEK M	2021	2020	2021	2020	2020
Acute Care Therapies	2,408	2,543	4,597	4,687	10,861
Life Science	350	267	662	501	1,102
Surgical Workflows	669	648	1,248	1,246	2,759
Total	3,427	3,458	6,507	6,434	14,722
	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Operating profit (EBIT), SEK M	2021	2020	2021	2020	2020
Acute Care Therapies	1,188	1,013	2,216	1,783	5,312
Life Science	145	90	286	132	337
Surgical Workflows	-9	-250	-141	-471	-489
Group functions and other (incl. eliminations)1)	-120	-96	-196	-182	-375
Operating profit (EBIT)	1,205	757	2,164	1,261	4,784
Net financial items	-48	-80	-104	-158	-299
Profit after financial items	1,157	677	2,060	1,103	4,485

1) Group functions and other refer mainly to central functions such as finance, communication, HR and other items, such as eliminations.

Note 3 Depreciation, amortization and write-downs

SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Acquired intangible assets	-67	-157	-133	-288	-494
Intangible assets	-159	-343	-328	-544	-1,069
Right-of-use assets	-101	-99	-199	-192	-405
Tangible assets	-119	-145	-234	-266	-500
Total	-445	-744	-894	-1,290	-2,467
of which write-downs	0	-167	-1	-167	-257

SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Cost of goods sold	-197	-265	-402	-501	-1,017
Selling expenses	-127	-223	-251	-416	-754
Administrative expenses	-111	-110	-220	-214	-433
Research and development costs	-11	-147	-22	-158	-263
Restructuring costs	-	-	-	-	-
Total	-445	-744	-894	-1,290	-2,467
of which write-downs	0	-167	-1	-167	-257

Note 4 Quarterly results

SEK M	Apr-Jun 2021	Jan-Mar 2021	Oct-Dec 2020	Jul-Sep 2020	Apr-Jun 2020	Jan-Mar 2020	Oct-Dec 2019	Jul-Sep 2019
Net sales	6,587	6,169	8,839	7,976	6,971	6,033	8,498	6,236
Cost of goods sold	-3,160	-3,089	-4,681	-3,846	-3,513	-3,057	-4,442	-3,303
Gross profit	3,427	3,080	4,158	4,130	3,458	2,976	4,056	2,933
Operating expenses	-2,222	-2,120	-2,548	-2,217	-2,701	-2,470	-2,579	-2,500
Operating profit (EBIT)	1,205	960	1,610	1,913	757	505	1,477	433
Net financial items	-48	-56	-69	-72	-80	-78	-112	-118
Profit after financial items	1,157	903	1,541	1,841	677	427	1,365	315
Taxes	-351	-251	-437	-446	-179	-150	-455	-97
Net profit for the period	806	652	1,104	1,395	497	277	910	218

Note 5 Adjustment items

	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Adjusted EBITA, SEK M	2021	2020	2021	2020	2020
Acute Care Therapies	1,211	1,287	2,280	2,187	5,831
Life Science Surgical Workflows	151 -4	97 -70	302 -69	145 -273	393 -127
Group functions and other
(incl. eliminations)	-109	-96	-184	-181	-374
Total	1,250	1,218	2,329	1,879	5,724
Adjustments of EBITA, SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Specification of items affecting comparability that impact EBITA
Acquisition and restructuring costs, Acute Care Therapies	-1	-54	-23	-55	-62
Acquisition and restructuring costs, Life Science	0	0	-3	0	0
Acquisition and restructuring costs, Surgical Workflows	-1	-114	-64	-114	-113
Write-down of R&D, Acute Care Therapies2)	-	-73	-	-73	-73
Write-down of R&D, Life Science2)	-	-	-	-	-29
Write-down of R&D, Surgical Workflows 2)	-	-63	-	-63	-108
Impairment av receivables, Acute Care Therapies3)	-	-	-	-	-47
Impairment av receivables, Acute Care Therapies2)	-	-	-	-	-8
Impairment av receivables, Surgical Workflows2)	-	-	-	-	-7
Write-down of inventories, Acute Care Therapies1)	-	-	-	-	-38
Write-down of inventories, Life Science1)	-	-	-	-	-1
Write-down of inventories, Surgical Workflows1)	-	-	-	-	-92
Restored unutilized provision, Acute Care Therapies3)	-	-	-	-	183
Capital gain on divestment of property, Acute Care Therapies3)	34	-	72	-	-
Other, Acute Care Therapies1)	-	-	-	-2	-2
Other, Surgical Workflows1)	-	-	-	-3	-3
Other, Acute Care Therapies2)	-	-	-	-7	-17
Other, Surgical Workflows2)	-	-	-	-11	-18
Other, Surgical Workflows3)	-	-	-	-	-8
Group functions and other (incl. eliminations)	-11	0	-12	-2	-2
Total	21	-303	-31	-329	-446
Items affecting comparability per segment
Acute Care Therapies	33	-127	48	-136	-65
Life Science	0	0	-3	0	-30
Surgical Workflows	-1	-176	-64	-191	-349
Group functions and other (incl. eliminations)	-11	0	-12	-2	-2
Total	21	-303	-31	-329	-446

1) Reported in Cost of goods sold

2) Reported in Operating expenses

3) Reported in Other operating income and operating expenses

EBITA, SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Acute Care Therapies	1,245	1,160	2,328	2,051	5,766
Life Science	152	97	298	145	363
Surgical Workflows	-5	-246	-133	-463	-476
Group functions and other (incl. eliminations)	-120	-96	-196	-182	-375
Total	1,271	914	2,298	1,550	5,278
Adjustments of EBIT (in addition to the above adjustments of EBITA), SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Specification of items affecting comparability that impact EBIT but not EBITA
Write-down of acquired intangible assets, Acute Care Therapies1)	-	-31	-	-31	-31
Total, Group	-	-31	-	-31	-31
1) Reported in Operating expenses
Adjustments of EBIT, SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Items affecting comparability that impact EBITA (according to above)	21	-303	-31	-329	-446
Items affecting comparability that impact EBIT but not EBITA (according to above)	-	-31	-	-31	-31
Total	21	-334	-31	-360	-477
Adjustment of tax, SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Amortization and write-down of acquired intangible assets1)	67	126	133	257	463
Items affecting comparability	-21	334	31	360	477
Adjustment items, total	45	461	164	617	940
Tax effect on adjustment items2)	-14	119	-47	162	-248
Adjustment for tax items affecting comparability	-	-	-	-	-
Total	-14	119	-47	162	-248

1) Excluding write-downs classified as items affecting comparability

2) Tax effect on tax deductible adjustment items

Note 6 Consolidated net interest-bearing debt

SEK M	Jun 30 2021	Jun 30 2020	Dec 31 2020
Other interest-bearing liabilities, current	515	3,812	2,196
Other interest-bearing liabilities, long-term	3,996	8,558	7,020
Provisions for pensions, interest-bearing	3,215	3,493	3,359
Lease liabilities	997	912	990
Interest-bearing liabilities	8,722	16,775	13,565
Less cash and cash equivalents	-3,468	-5,850	-6,056
Net interest-bearing debt	5,254	10,925	7,509

Note 7 Key figures for the Group

Financial and operative key figures	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Key figures based on Getinge's financial targets
Organic growth in net sales, %	3.6	9.1	7.8	6.6	14.3
Earnings per share1), SEK	2.93	1.81	5.29	2.81	11.89
Other operative and financial key figures
Organic growth in order intake, %	-6.1	17.5	-15.1	31.6	15.6
Gross margin, %	52.0	49.6	51.0	49.5	49.4
Selling expenses, % of net sales	16.6	18.1	17.4	20.6	17.7
Administrative expenses, % of net sales	13.5	12.8	13.2	13.8	11.7
Research and development costs, % of net sales	4.6	6.8	4.6	6.0	4.9
Operating margin, %	18.3	10.9	17.0	9.7	16.0
EBITDA, SEK M	1,650	1,501	3,058	2,552	7,251
Average number of shares, thousands	272,370	272,370	272,370	272,370	272,370
Number of shares at the end of the period, thousands	272,370	272,370	272,370	272,370	272,370
Interest-coverage ratio, multiple			39.6	18.9	30.5
Net debt/equity ratio, multiple			0.23	0.51	0.35
Net debt/Rolling 12m adjusted EBITDA, multiple			0.7	1.8	1.0
Operating capital, SEK M			29,999	33,979	32,374
Return on operating capital, %			19.5	11.0	16.3
Return on equity, %			17.9	9.0	15.1
Equity/assets ratio, %			54.7	43.1	47.7
Equity per share, SEK			83.60	78.10	78.88
Number of employees			10,771	10,788	10,818

1) Before and after dilution

Alternative performance measures

Alternative performance measures refer to financial measures used by the company's management and investors to evaluate the Group's earnings and financial position and that cannot be directly read or derived from the financial statements. These financial measures are intended to facilitate analysis of the Group's performance. Accordingly, the alternative performance measures should be considered a supplement to the financial statements prepared in accordance with IFRS. The financial measures recognized in this report may differ from similar measures used by other companies.

	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Adjusted gross profit, SEK M	2021	2020	2021	2020	2020
Gross profit	3,427	3,458	6,507	6,434	14,722
Add-back of:
Depreciation, amortization and write-downs of intangible assets
and tangible assets	197	265	402	501	1,017
Other items affecting comparability	-	-	-	5	135
Adjustment for write-downs included in other
items affecting comparability	-	-	-	-	-
Adjusted gross profit	3,624	3,723	6,909	6,940	15,874
	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Adjusted EBITDA, SEK M	2021	2020	2021	2020	2020
Operating profit (EBIT)	1,205	757	2,164	1,261	4,784
Add-back of:
Depreciation, amortization and write-downs of intangible assets and
tangible assets	379	587	761	1,002	1,973
Amortization and write-down of acquired intangible assets	67	157	133	288	494
Other items affecting comparability	-34	-	-72	23	59
Acquisition and restructuring costs	13	168	103	170	177
Adjustment for write-downs included in other items affecting
comparability and restructuring costs	-	-	-	-	-
Adjusted EBITDA	1,629	1,669	3,089	2,745	7,487

	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Adjusted EBITA, SEK M	2021	2020	2021	2020	2020
Operating profit (EBIT)	1,205	757	2,164	1,261	4,784
Add-back of:
Amortization and write-down of acquired intangible assets	67	157	133	288	494
Other items affecting comparability	-34	136	-72	159	269
Acquisition and restructuring costs	13	168	103	170	177
Adjustment for write-downs of acquired intangible assets included in other items affecting comparability and restructuring costs	-	-	-	-	-
Adjusted EBITA	1,250	1,218	2,329	1,879	5,724
	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Adjusted EBIT, SEK M	2021	2020	2021	2020	2020
Operating profit (EBIT)	1,205	757	2,164	1,261	4,784
Add-back of:
Other items affecting comparability	-34	167	-72	190	300
Acquisition and restructuring costs	13	168	103	170	177
Adjusted EBIT	1,183	1,091	2,195	1,622	5,261
	Apr-Jun	Apr-Jun	Jan-Jun	Jan-Jun	Jan-Dec
Adjusted net profit for the period, SEK M	2021	2020	2021	2020	2020
Net profit for the period	806	497	1,459	774	3,273
Add-back of:
Amortization and write-down of acquired intangible assets	67	157	133	288	494
Other items affecting comparability	-34	167	-72	190	300
Acquisition and restructuring costs	13	168	103	170	177
Adjustment for write-downs of acquired intangible assets included in other items affecting comparability and restructuring costs	-	-31	-	-31	-31
Tax items affecting comparability	-	-	-	-	-
Tax on add-back items	-14	-119	-47	-162	-248
Adjusted net profit for the period	838	839	1,576	1,229	3,965

Note 8 Acquisitions

Acquisitions in 2021

In the first quarter of 2021, Getinge acquired shares in the subsidiary Pulsion Medical Systems SE for SEK 32 M from non-controlling interests. In addition, SEK 2 M was paid for Quadralene Holdings Ltd, which was acquired in 2020. The total impact of the acquisition on the Group's cash and cash equivalents amounted to SEK 34 M (829) for the January-June 2021 period.

Parent Company financial statements

Parent Company's income statement

SEK M	Apr-Jun 2021	Apr-Jun 2020	Jan-Jun 2021	Jan-Jun 2020	Jan-Dec 2020
Administrative expenses	0	54	-6	-47	-58
Other operating income and expenses	-	38	-	38	38
Operating profit	0	92	-6	-9	-20
Result from participations in Group companies	0	34	0	34	308
Interest income and other similar income	0	0	0	0	1
Interest expenses and other similar expenses	-66	122	-125	-310	-394
Profit/loss after financial items1)	-66	248	-131	-285	-105
Appropriations	-	-	-	-	243
Taxes	-6	-51	-5	51	-22
Net profit/loss for the period2)	-72	197	-136	-234	116

1) Interest income and other similar income and interest expenses and other similar expenses include exchange-rate gains and losses attributable to the translation of receivables and liabilities measured in foreign currencies

2) Comprehensive income for the period corresponds to net profit for the period

Parent Company's balance sheet

	June 30	June 30	Dec 31
SEK M	2021	2020	2020
Assets
Intangible assets	18	29	24
Tangible assets	5	7	6
Participations in Group companies	27,953	28,429	28,090
Deferred tax assets	108	170	106
Receivables from Group companies	554	1,120	295
Current receivables	55	70	28
Cash and cash equivalents	600	1,494	950
Total assets	29,293	31,319	29,499
Equity and liabilities
Equity	20,066	20,669	21,019
Long-term liabilities	570	-	-
Other provisions	47	48	32
Current liabilities to Group companies	8,367	7,202	6,932
Current liabilities	243	3,400	1,516

Definitions

Financial terms

Operating capital. Average total assets with add-back of cash and cash equivalents, other provisions, accounts payable and other non-interest-bearing liabilities.

Return on operating capital. Rolling 12 months' adjusted EBIT in relation to operating capital.

Return on equity. Rolling 12 months' profit after tax in relation to average equity.

Gross margin. Gross profit in relation to net sales.

Adjusted gross profit. Gross profit with add-back of depreciation, amortization and write-downs and other items affecting comparability.

EBIT. Operating profit.

Adjusted EBIT. Operating profit (EBIT) with add-back of acquisition and restructuring costs and other items affecting comparability.

EBITA. Operating profit (EBIT) before addback of amortization and write-down of acquired intangible assets.

Adjusted EBITA. EBITA with add-back of acquisition and restructuring costs and other items affecting comparability.

EBITA margin. EBITA in relation to net sales.

EBITDA. Operating profit (EBIT) with addback of amortization, depreciation and write-downs.

Adjusted EBITDA. EBITDA with add-back of acquisition and restructuring costs and other items affecting comparability.

EBITDA margin. EBITDA in relation to net sales.

Equity per share. Equity in relation to the number of shares at the end of the period.

Cash flow after net investments. Cash flow from operating activities and investing activities, excluding acquisitions and divestment of operations.

Consumables. Products that are continuously consumed as well as service, spare parts and similar items.

Adjusted earnings per share. Adjusted net profit for the period attributable to Parent Company shareholders in relation to average number of shares.

Items affecting comparability. Comprises acquisition and restructuring costs and other items affecting comparability. Other items affecting comparability are significant revenue/expenses that impact comparability between accounting periods. These items include, but are not limited to, write-downs, disputes and major gains and losses attributable to divestments of assets or businesses.

Capital goods. Durable products that are not consumed when used.

Net debt/equity ratio. Net interestbearing debt in relation to equity.

Organic change. A financial change adjusted for currency, acquisitions and divestments of businesses.

Adjusted net profit for the period. Net profit for the period with add-back of amortization and write-down of acquired intangible assets, acquisition and restructuring costs, other items affecting comparability and tax effect of add-back of income-statement items.

Adjusted profit before tax. Profit before tax for the period with add-back of amortization and write-down of acquired intangible assets, acquisition and restructuring costs and other items affecting comparability.

Earnings per share. Net profit attributable to Parent Company shareholders in relation to average number of shares.

Interest-coverage ratio. Rolling 12 months' adjusted EBITDA in relation to rolling 12 months' net interest.

Operating margin. Operating profit (EBIT) in relation to net sales.

Equity/assets ratio. Equity in relation to total assets.

Currency transaction effect. Exchange of current year's volumes of foreign currency at this year's exchange rates, compared with the exchange rates in the preceding year.

Medical terms

Sterilizer. A device to eliminate microorganisms on surgical instruments, usually by high temperature with steam.

DPTE BetaBag®. Bag that ensures contamination-free transfer of components.

ECMO. Extracorporeal membrane oxygenation, meaning oxygenation outside the body through a membrane. Put simply, a modified cardiac and respiratory machine that exchanges oxygen and carbon dioxide, like an artificial lung.

Endoscope. Equipment for visual examination of the body's cavities, such as the stomach.

Endovascular. Vascular treatment using catheter technologies.

EU MDR. A new regulatory framework for medical devices which ensures a high level of safety and health whilst supporting innovation.

Hemodynamic monitoring. Monitoring the balance between blood pressure and blood flow.

Cardiopulmonary. Pertaining or belonging to both heart and lung.

Cardiovascular. Pertaining or belonging to both heart and blood vessels.

Artificial grafts. Artificial vascular implants.

Low temperature sterilization. A device used to sterilize surgical instruments which cannot be sterilized with high temperature steam. It is mainly used for instruments used in the minimal invasive and robotic surgery.

NAVA. Neurally Adjusted Ventilatory Assist (NAVA) identifies the electric activity that activates the diaphragm and using these signals adapts the ventilation to the patient's respiratory rhythm.

Stent. A tube for endovascular widening of blood vessels.

Vascular intervention. A medical procedure conducted through vascular puncturing instead of using an open surgery method.

Ventilator. Medical device to help patients breath.

Geographic areas

Americas. North, South and Central America.

APAC. Asia and Pacific. EMEA. Europe, Middle East and Africa.

Teleconference

Teleconference with President & CEO Mattias Perjos and CFO Lars Sandström on July 16, 2021 at 10:00-11:00 a.m. CEST. Please see dial in details below to join the conference:

SE: +46850558365 UK: +443333009268 US: +16319131422

A presentation will be held during the telephone conference. To access the presentation, please use this link: https://tv.streamfabriken.com/getinge-q2-2021

Alternatively, use the following link to download the presentation: https://www.getinge.com/int/about-us/investors/reportspresentations/

A recording will be available for three years via the following link: https://tv.streamfabriken.com/getinge-q2-2021

Financial information

Updated information on, for example, the Getinge share and corporate governance is available on Getinge's website www.getinge.com. The Annual Report, year-end report and interim reports are published in Swedish and English and are available for download at www.getinge.com. The preliminary dates for financial communication are provided below:

October 20, 2021 Q3 Report 2021 November 22, 2021 Virtual Capital Markets Day (preliminary date) January 28, 2022 Q4 Report 2021

Contact

Lars Mattsson, Head of Investor Relations +46 (0)10 335 0043 lars.mattsson@getinge.com

Jeanette Hedén Carlsson, Executive Vice President, Communications & Brand Management +46 (0)10 335 1003 jeanette.hedencarlsson@getinge.com

This information is such that Getinge AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, on July 16, 2021 at 8:00 a.m. CEST.

With a firm belief that every person and community should have access to the best possible care, Getinge provides hospitals and life science institutions with products and solutions that aim to improve clinical results and optimize workflows. The offering includes products and solutions for intensive care, cardiovascular procedures, operating rooms, sterile reprocessing and life science. Getinge employs over 10,000 people worldwide and the products are sold in 130 countries. Getinge has been listed on Nasdaq OMX Stockholm, Nordic Large Cap since 1993 and is included in the OMXS30 index of the 30 most actively traded shares.

Getinge AB (publ) │ Lindholmspiren 7A, 417 56 Gothenburg, Sweden │Tel: +46 (0)10 335 0000 │E-mail: info@getinge.com │ Corp. Reg. No.: 556408-5032 │ www.getinge.com