Getinge

Earnings Release • Jan 26, 2010

Getinge Group Q4 Report 2009

Reporting period January – December

• ♦ Orders received rose by 18.5% to SEK 23,036 M (19,447)
• ♦ Net sales increased by 18.4% to SEK 22,816 M (19,272)
• ♦ Profit before tax rose by 23.9% to SEK 2,634 M (2,126)
• ♦ Net profit increased by 25.5% to SEK 1,914 M (1,523)
• ♦ Earnings per share increased by 25.7% to SEK 8.02 (6.39)
• ♦ Dividend per share proposed at SEK 2.75 (2.40), or SEK 655 M (572)
• ♦ EBITA before restructuring increased by 14.8% to SEK 3,934 M (3,428)

Reporting period October – December

• ♦ Orders received during quarter rose by 14.2% to SEK 6,448 M (5,645), corresponding to organic growth of 6.9%
• ♦ Very strong cash flow during fourth quarter
• ♦ Debt/equity ratio further improved to 1.30
• ♦ Earnings outlook remains strong for 2010

Fourth quarter 2009

Demand, which was subdued during much of 2009, continued to show signs of improvement. The earnings trend was satisfactory during the quarter and the Group is strengthened as it enters 2010.

Orders received The trend toward improved orders received, which began during the third quarter, continued to strengthen during the fourth quarter. Organic orders received increased by a robust 6.9%. The order trend was particularly strong in the European and North American markets. In emerging markets, growth was more modest, but must be compared with the strong performance in the region during the year-earlier period.

At the business area level, Medical Systems and Infection Control generated highly favourable organic order growth of 10.6% and 7.6%, respectively. At Extended Care, organic orders received were on par with the year-earlier period.

Results	Consolidated profit before tax increased by 1.3% to SEK 1,070 M (1,056). EBITA excluding restructuring costs rose by 7.6% to SEK 1,534 M (1,426). Given the low underlying growth, which decreased by 0.8% organically, earnings must be considered favourable. Restructuring costs of SEK 193 M (74) were charged to the quarter, of which SEK 109 M was attributable to recent structural measures in the Extended Care and Infection Control business areas. EBITA improved for the Medical Systems and Extended Care business areas during the period. The EBITA margin for the quarter was 22.4%, up marginally on the year earlier period. For the full-year, the EBITA margin was 17.2%.
	The Group's operating cash flow experienced a strong trend during the quarter, up 265% to SEK 1,668 M (456).
	The net debt/equity ratio was 1.30 (1.26) at year-end.
Outlook	Demand for the Group's products is expected to gradually improve, following a period of lower growth. The most important contribution to this favourable volume trend was the continued improvement in the demand scenario in the North American market. Demand in Western Europe, which has been generally favourable during the past year, is expected to decline to some extent in 2010, but is expected to continue growing. In the markets outside Western Europe and North America, demand and growth are expected to improve on 2009.
	In terms of the Group's business areas, Medical Systems is expected to have the best growth opportunities in 2010. New and key product launches combined with revenue synergies from acquisitions in recent years will contribute to Medical Systems' growth. Infection Control is also anticipating improved volume growth in 2010, while Extended Care, which has greater exposure to the elderly-care sector, is expected to experience moderate growth in 2010.
	Major restructuring costs in 2009, which were primarily attributable to the integration of Datascope and the Cardiac and Vascular surgery divisions, will decline considerably, while synergy gains from the actions implemented will contribute to profit growth. Favourable exchange effects are expected to contribute to earnings growth.
	Overall, the Group is expecting a good improvement in the Group's orders received and invoicing growth during the current fiscal year. Measured as profit before tax, profit growth is expected to remain strong.

Business area Medical Systems

Orders received

	2009		2008 Change adjusted fo r	2009		2008 Change adjusted fo r
Orders received per market	Q 4	Q 4 curr.flucs.&co rp.acqs.		12 Mon		12 Mon curr.flucs.&co rp.acqs.
Europe	1 515	1 212	10,7%	5 005	4 026	2,5%
USA and Canada	950	738	11,5%	3 572	2 506	1,4%
Asia and Australia	636	479	10,5%	2 177	1 403	11,8%
Rest of the world	204	170	5,9%	734	625	2,5%
Business area total	3 305	2 599	10,6%	11 488	8 560	3,7%

Organic orders received developed very well during the quarter, rising by 10.6%. The strong orders received must be compared with the robust year-earlier period when orders received increased organically by 16.8%. All geographic regions experienced a favourable trend.

In Europe, orders received increased organically by 10.7%. The trend was particularly strong in the UK and Southern Europe, while other European regions were on par with the year-earlier period.

In North America, orders received increased organically by a healthy 11.5%. Demand for medical technical capital goods, such as consumables, improved.

Growth in emerging markets was strong overall, particularly when considering the robust year-earlier period.

Results

	2009	2008	Change	2009	2008	Change
	Q 4	Q 4		12 Mon	12 Mon
Net sales, SEK m illion	3 549	2 930	21,1%	11 255	8 416	33,7%
adjusted for currency flucs.& corp.acqs			4,8%			2,8%
Gross profit	1 961	1 596	22,9%	6 343	4 723	34,3%
Gross margin %	55,3%	54,5%	0,8%	56,4%	56,1%	0,3%
Operating cost, SEK m illion	-1 174	-883	33,0%	-4 510	-3 140	43,6%
EBITA before restructuring and integration costs	880	773	13,8%	2 231	1 784	25,1%
EBITA margin %	24,8%	26,4%	-1,6%	19,8%	21,2%	-1,4%
Restructuring and integration costs	-84	-13		-197	-72
EBIT	703	700	0,4%	1 636	1 511	8,3%
EBIT margin %	19,8%	23,9%	-4,1%	14,5%	18,0%	-3,5%

Medical Systems EBITA prior to restructuring costs rose by 13.8% to SEK 880 M (773). The EBITA margin was 24.8%, which was somewhat lower than the year-earlier level and was attributable to Datascope's EBITA margins remaining slightly lower that the business area's average. Organic invoicing growth amounted to slightly less than 5%. Restructuring costs of SEK 84 M (13) were charged to the quarter. All of

the divisions included in the business area performed favourably during the quarter.

Activities Integration of Boston Scientific's Cardiac and Vascular Surgery divisions and Datascope

During the quarter, the manufacturing of cardiac surgery products ceased at the Dorado plant in Puerto Rico. All manufacturing has now been moved to the plant in Wayne, New Jersey, thus completing the integration of the Cardiac and Vascular Surgery divisions, which were acquired from Boston Scientific in January 2008.

The integration of Datascope, which has been incorporated in the Group since 1 February 2009, is also nearing completion. The remaining integration work, which has proceeded ahead of schedule, includes incorporating Datascope into the business area's existing IT platform.

Of the total restructuring costs related to the aforementioned integration work, about SEK 20 M remains to be charged to 2010.

Divestment of product rights

After the end of the reporting period, the Getinge Group has completed an agreement regarding the sale of rights to a product called the "Percutaneous Heart Pump" (PHP), to the NASDAQ listed company, Thoratec. PHP is a development project that accompanied the acquisition of Datascope and is incompatible with the Group's future product portfolio and there are alternatives to it in the existing product portfolio in the area of counterpulsation therapy. PHP is a small axial pump, which is placed in the heart chamber through a catheter to temporarily improve the heart's circulation ability. The product is currently available as a prototype. The divestment of PHP will generate a capital gain of SEK 35 to SEK 40 M, which will be booked in the first quarter of 2010.

New market companies

During the quarter, the business area established sales companies in Mexico and Thailand. These new establishments are in line with the Group's strategy of conducting distribution under proprietary management in markets with major potential.

Product launches

The business area's cardiopulmonary support product, Cardiohelp, will be launched commercially in the first six months of 2010. Cardiohelp is an ECMO product that can temporarily assume control of the heart and/or lung functions to ensure a patient's survival or to allow the heart or lungs the opportunity to recover. Cardiohelp is the first cardiopulmonary product to be permitted for deployment in conjunction with air transports.

During the quarter, a new and improved version of the business area's prefabricated modular operating theatre, VARIOP, was launched and the first deliveries have commenced.

The business area is expanding its product portfolio in what is known as "Endoscopic Vessel Harvesting" (EVH), and launched a new generation

of EVH products during the quarter that enables improved and safer handling in conjunction with the procedure. The EVH technique can be deployed to take blood vessels from the leg or arm and subsequently use them in bypass operations on the coronary artery of the heart.

Business area Extended Care

Orders received

	2009		2008 Change adjusted fo r	2009		2008 Change adjusted fo r
Orders received per market	Q 4		Q 4 curr.flucs.&co rp.acqs.	12 Mon		12 Mon curr.flucs.&co rp.acqs.
Europe	943	961	-1,4%	3 676	3 675	-4,6%
USA and Canada	541	528	7,0%	2 020	1 865	-4,9%
Asia and Australia	139	133	-3,9%	586	546	-0,1%
Rest of the world	31	38	-23,6%	124	137	-13,5%
Business area total	1 654	1 660	0,6%	6 406	6 223	-4,5%

The improvement in the business area's orders received was insignificant compared with the year-earlier period. The slower volume recovery at Extended Care, compared with the Group's other operations, is partly attributable to a higher exposure to certain Western European markets, but also to increased exposure to the elderly-care sector.. Products within the elderly care sector are characterised by private input, while financing has a more local nature.

In Western European markets, orders received declined organically by 1.4%. Growth in Southern Europe remained strong, while the Northern European regions declined. Other submarkets in Europe were comparable with the year-earlier period.

In the North American market, orders received continued to improve and rose organically by a healthy 7%.

In emerging markets, growth was primarily lower in Africa and the Middle East.

	2009	2008	Change	2009	2008	Change
	Q 4	Q 4		12 Mon	12 Mon
Net sales, SEK m illion	1 672	1 830	-8,6%	6 467	6 174	4,7%
adjusted for currency flucs.& corp.acqs			-7,8%			-2,8%
Gross profit	782	807	-3,1%	2 964	2 847	4,1%
Gross margin %	46,8%	44,1%	2,7%	45,8%	46,1%	-0,3%
Operating cost, SEK m illion	-484	-534	-9,4%	-2 074	-1 969	5,3%
EBITA before restructuring and integration costs	325	302	7,6%	1 002	992	1,0%
EBITA margin %	19,4%	16,5%	2,9%	15,5%	16,1%	-0,6%
Restructuring and integration costs	-24	-60		-55	-145
EBIT	274	213	28,6%	835	733	13,9%
EBIT margin %	16,4%	11,6%	4,8%	12,9%	11,9%	1,0%

Results

Extended Care's EBITA rose by 7.6% to SEK 325 M (302), despite organic invoicing declining by 7.8%. Further efficiency enhancements in the business area's supply chain and strict cost control contributed to the earnings improvement. Restructuring costs of SEK 24 M (60) were charged to the quarter.

Activities Restructuring activities

During the quarter, Extended Care initiated negotiations with the personnel concerned regarding the merger of the business area's two French sales companies. The costs of the merger are expected to total about SEK 24 M and generate annual earnings improvements of SEK 15 M as of 2011.

Product launches

During the quarter, the business area launched the Alpha Response wound-care mattress. The new mattress prevents pressure ulcers and other tissue damage among bed-ridden patients. The product is equipped with a sensor that recognises when patients are sitting or lying down to ensure good distribution of pressure regardless of the body's position..

Business area Infection Control

Orders received

	2009		2008 Change adjusted fo r	2009		2008 Change adjusted fo r
Orders received per market	Q 4		Q 4 curr.flucs.&co rp.acqs.	12 Mon		12 Mon curr.flucs.&co rp.acqs.
Europe	775	706	9,0%	2 697	2 450	3,8%
USA and Canada	479	436	14,0%	1 659	1 419	1,7%
Asia and Australia	205	201	-6,2%	706	625	1,1%
Rest of the world	29	36	-21,8%	80	171	-54,0%
Business area total	1 488	1 379	7,6%	5 142	4 665	0,7%

Orders received rose organically by a strong 7.6%. The strongest trend was in the more mature Western European and North American markets.

In Europe, orders received increased organically by 9%. With the exception of the Scandinavian region, the volume trend was favourable in all geographic regions.

In the North American markets, orders received continued to improve and increased organically by 14%. Growth in the Life-Science segment was particularly strong.

Orders received weakened in the emerging markets compared with the strong year-earlier period that was led by the Middle East and South America.

Results

.

	2009	2008	Change	2009	2008	Change
	Q 4	Q 4		12 Mon	12 Mon
Net sales, SEK million	1 624	1 664	-2,4%	5 094	4 682	8,8%
adjusted for currency flucs.& corp.acqs			-2,9%			-0,4%
Gross profit	638	657	-2,9%	1 945	1 763	10,3%
Gross margin %	39,3%	39,5%	-0,2%	38,2%	37,7%	0,5%
Operating cost, SEK million	-313	-310	1,0%	-1 261	-1 126	12,0%
EBITA before restructuring and integration costs	329	351	-6,3%	700	652	7,4%
EBITA margin %	20,3%	21,1%	-0,8%	13,7%	13,9%	-0,2%
Restructuring and integration costs	-85,0	0		-85	-3
EBIT	240	347	-30,8%	599	634	-5,5%
EBIT margin %	14,8%	20,9%	-6,1%	11,8%	13,5%	-1,7%

The business area's EBITA prior to restructuring costs declined by slightly more than 6% to SEK 329 M (351). The lower profit was primarily due to the impact of declining invoicing volumes that decreased organically by 2.9%. Restructuring costs of SEK 85 M related to planned production relocations were charged to the quarter. The EBITA margin

was 20.3% during the quarter, which was somewhat lower that the yearearlier level.

Activities Restructuring activities

During the quarter, the business area announced that it was initiating negotiations with the personnel concerned with the aim of discontinuing production in Peiting, Germany and in Lynge, Denmark, and relocating these to Växjö and Getinge in Sweden. These activities are in line with the business area's strategic aim of concentrating production to fewer but more efficient plants. The costs for the planned activities are anticipated to amount to about SEK 85 M and are expected to generate annual savings of about SEK 40 M as of 2011.

New market company

The business area is continuing its global expansion and opened a sales company in Hong Kong after the end of the reporting period.

Other information

Accounting	This interim report was prepared for the Group in accordance with the IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act. For the Parent Company, the report was prepared in accordance with the Swedish Annual Accounts and RFR 2.2. The accounting and calculation principles used in the interim report are identical to those used in the most recent annual report. This report has not been audited by Getinge's auditors.
Dividend	The Board and the CEO propose a payment of dividend of SEK 2.75 (2.40) per share for 2009, amounting to SEK 655 M (572). The proposed record date will be 26 April 2010. VPC expects to pay the dividend to shareholders on 29 April 2010.
Annual General Meeting	Getinge AB's Annual General Meeting will be held on 21 April 2010, at 4:00 p.m., in Kongresshallen, Hotel Tylösand, Halmstad, Sweden. The Annual Report for 2009 will be available about two weeks prior to the Annual General Meeting and will be distributed to all shareholders who have not declined it. Shareholders who intend to participate at the Annual General Meeting must be included in the shareholders' register maintained by VPC AB not later than 15 April 2010 and register their intention to participate with Getinge's head office not later than 15 April 2010.
Risk management	Political decisions altering the healthcare reimbursement system represent the single greatest risk to the Getinge Group. The risk to the Group as a whole is limited by the fact that Getinge is active in a large number of countries. The Group's operational risks are limited, since as a rule its customers' operations are funded directly or indirectly from public funds. The Group's Risk Management team works continuously to minimise the risk of production disruptions.
	Financial risk management. Getinge is exposed to a number of financial risks in its operations. "Financial risks" refer primarily to risks related to currency and interest rates as well as credit risks. Risk management is regulated by a financial policy established by the Board of Directors. The ultimate responsibility for managing the Group's financial risks and developing methods and principles of financial risk management lies with Group management and the treasury function. The main financial risks to which the Group is exposed are currency risks, interest-rate risks, and credit and counterparty risks.
Events after year-end	After the end of the reporting period, the Getinge Group reached an agreement regarding the sale of rights to a product called the "Percutaneous Heart Pump" (PHP), to the NASDAQ listed company, Thoratec. The divestment of PHP will generate capital gains of SEK 35 to SEK 40 M, which will be booked in the first quarter of 2010.
	No other events of material significance took place after year-end.
Forward-looking information	This report contains forward-looking information based on the current expectations of the Getinge Group's management. Although management deems that the expectations presented by such forward looking 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 requirements and other political measures, and fluctuations in exchange rates.
Next report	The next report from the Getinge Group (Q1 2010) will be published on 21 April 2010.
Teleconference	A telephone conference will be held on 26 January at 3:00 p.m. Swedish time. To participate, please call: Within Sweden: 46 (0)8 506 269 30 Outside Sweden: +44 (0) 207 750 99 50 Agenda:
	2.45 p.m. Call the conference number 3.00 p.m. Review of the interim report 3.20 p.m. Questions 4.00 p.m. Conclusion
	A recorded version of the conference will be available for five working days at the following numbers: Sweden: +46 (0)8-506 269 49 Outside Sweden: +44 207 750 99 28 Access code: 238823#
	During the telephone conference, a presentation will be held. To gain access to this presentation, please click on the following link:
	https://www.anywhereconference.com/?Conference=108238823&PIN=33 9805
	The presentation is also available at: http://www.getingegroup.com
	The Board of Directors and CEO ensure that the interim report provides a true and fair overview of the Parent Company and the Group's operations, position and earnings and describes the material risks faced by the Parent Company and the Group.

Getinge 26 January 2010

Carl Bennet Johan Bygge Rolf Ekedahl Chairman

Jan Forslund Carola Lemne Margareta Norell Bergendahl

Bo Sehlin Johan Stern Johan Malmquist CEO

Getinge AB Box 69, SE-310 44 Getinge

Q4 Report Jan-Dec Getinge Group 2009. Page 11 of 21.

Telephone: +46 (0)35-15 55 00. Telefax: +46 (0)35-549 52 E-mail: info@getinge.com Corporate Registration Number: 556408-5032 www.getingegroup.com

The information given here is information that Getinge AB is obligated to publish under the Securities Exchange and Clearing Operations Act and/or the Financial Instruments Trading Act.

Consolidated Income statement

	2009	2008	Change	2009	2008	Change
SEK million	Q 4	Q 4		12 Mon	12 Mon
Net sales	6 845	6 423	6,6%	22 816	19 272	18,4%
Cost of goods sold	-3 464	-3 362	3,0%	-11 564	-9 939	16,3%
Gross profit	3 381	3 061	10,5%	11 252	9 333	20,6%
Gross margin	49,4%	47,7%	1,7%	49,3%	48,4%	0,9%
Selling expenses	-1 221	-1 086	12,4%	-4 957	-3 894	27,3%
Administrative expenses	-620	-503	23,3%	-2 333	-1 822	28,0%
Research & development costs 1	-116	-123	-5,7%	-539	-497	8,5%
Restructuring and integration costs	-193	-74		-336	-221	52,0%
Other operating income and expenses	-14	-15		-17	-22
Operating profit 2	1 216	1 260	-3,5%	3 070	2 877	6,7%
Operating margin	17,8%	19,6%	-1,8%	13,5%	14,9%	-1,4%
Financial Net, SEK 3	-146	-204		-436	-751
Profit before tax	1 070	1 056	1,3%	2 634	2 126	23,9%
Taxes	-282	-298		-720	-603
Net profit	788	758	4,0%	1 914	1 523	25,5%
Attributable to:
Parent company's shareholders	785	757		1 911	1 524
Minority interest	3	1		3	-1
Net profit	788	758		1 914	1 523
Earnings per share, SEK 4	3,29	3,18	3,5%	8,02	6,39	25,7%

1 Development costs totalling SEK 584 (429) million have been capitalised during the year, of which 168 million (124) in the quarter

2 Operating profit is charged with

— amort. Intangibles on acquired companies	-124	-93	-527	-330
— amort. intangibles	-44	-36	-177	-116
— depr. on other fixed assets	-165	-152	-672	-523
	-333	-281	-1 376	-969
3 Financial net income
— currency gains	0	0	228	0
— net of interest incomes, interest
expenses and other financial expenses	-146	-204	-664	-751
	-146	-204	-436	-751

4 There are no dilutions

Comprehensive earnings statement

	2009	2008	2009	2008
SEK million	Q 4	Q 4	12 Mon	12 Mon
Profit for the period	788	758	1 914	1 524
Other comprehensive earnings
Translation differences	109	330	-345	202
Cash-flow hedges	146	-612	1 211	-806
Income tax related to other partial
result items	-51	172	-331	226
Other comprehensive earnings for the
period, net after tax	204	-110	535	-378
Total comprehensive earnings for the period	992	649	2 449	1 146
Comprehensive earnings attributable to:
Parent Company shareholders	992	649	2 449	1 146
Minority interest	-	-	-	-

Quarterly results

	2007	2008	2008	2008	2008	2009	2009	2009	2009
SEK millio n	Q 4	Q 1	Q 2	Q 3	Q 4	Q 1	Q 2	Q 3	Q 4
Net sales	5 156	4 107	4 451	4 291	6 423	5 153	5 524	5 294	6 845
Cost of goods sold	-2 827	-2 040	-2 260	-2 276	-3 362	-2 622	-2 873	-2 605	-3 464
Gross profit	2 329	2 067	2 191	2 014	3 061	2 531	2 651	2 689	3 381
Operating cost	-1 323	-1 500	-1 539	-1 496	-1 801	-2 047	-2 016	-1 953	-2 165
Operating profit	1 006	545	554	518	1 260	484	635	736	1 216
Financial net	-131	-182	-174	-190	-204	46,0	-172	-164	-146
Profit before tax	875	363	380	328	1 056	530	463	572	1 070
Taxes	-263	-103	-108	-93	-298	-148	-130	-160	-282
Profit after tax	612	260	272	235	758	382	333	412	788

Consolidated Balance sheet

	2009	2008
Assets SEK millio n	31 Dec	31 Dec
Intangible fixed assets	20 354	15 879
Tangible fixed assets	3 674	3 257
Financial assets	1 134	1 250
Stock-in-trade	4 156	4 015
Current receivables	6 791	7 125
Cash and cash equivalents	1 389	1 506
Total assets	37 498	33 032
Shareholders' equity & Liabilities
Shareholders' equity	12 562	10 676
Long-term liabilities	19 431	15 847
Current liabilities	5 505	6 509
Total Equity & Liabilities	37 498	33 032

Consolidated Cash flow statement

2009 2008 2009 2008 Q 4 Q 4 12 Mon 12 Mon SEK million Current activities EBITDA 1 550 1 540 4 446 3 846 Restructuring Cost expenses 74 221 193 336 Restructuring costs paid -85 -104 -202 -223 Adjustment for items not included in cash flow 24 -12 41 43 Financial items -146 -204 -436 -751 Taxes paid -311 -148 -653 -618 1 225 1 146 3 532 2 518 Cash flow before changes in working capital Changes in working capital Stock-in-trade 592 77 -6 -575 Current receivables -467 -747 745 -360 Current operating liabilities 318 -20 -271 191 Cash flow from operations 1 668 456 4 000 1 774 Investments Acquisition of subsidiaries -22 66 -5 072 -5 008 Other acqusition expenses -27 -484 Capitalized development costs -169 -124 -585 -429 Rental equipment -82 -89 -249 -228 Investments in tangible fixed assets -259 -201 -907 -642 Cash flow from investments -559 -348 -7 297 -6 307 Financial activities Change in interest-bearing debt -939 -499 2 712 3 715 Change in long-term receivables 6 -266 119 -414 New share issue – 1 962 – 3 453 Dividend paid 0 0 -572 -515 -933 1 197 2 259 6 239 Cash flow from financial activities 176 1 305 -1 038 1 706 Cash flow for the period
	Cash and cash equivalents at begin of the year	1 533	939	1 506	894
-320 -738 921 -1 094 Translation differences
1 389 1 506 1 389 1 506 Cash and cash equivalents at end of the period

Consolidated Net interest-bearing debt

	2009	2008
SEK millio n	31 De c	31 Dec
Debt to credit institutions	16 052	13 244
Provisions for pensions, interest-bearing	1 634	1 730
Less liquid funds	-1 389	-1 506
Net interest-bearing debt	16 297	13 468

Changes to shareholders' equity

		Other
		contributed		Profit brought		Minority	Total
SEK m illion	Share capital	capital	Reserves	forw ard	Total	interests	equity
Opening balance on 1	101	2 525	-194	4 136	6 568	25	6 593
January 2008
Dividend				-515	-515		-515
Total com prehensive
earnings for the period			-378	1 524	1 146	-1	1 145
New share issue	6	3 447			3 453		3 453
Closing balance on 31	107	5 972	-572	5 145	10 652	24	10 676
December 2008
Opening balance on 1 January 2009	107	5 972	-572	5 145	10 652	24	10 676
Increase of share capital	12				12		12
Dividend				-572	-572	-3	-575
Total com prehensive
earnings for the period			535	1 911	2 446	3	2 449
Closing balance on 31	119	5 972	-37	6 484	12 538	24	12 562
December 2009

Key figures

	2009	2008	Change	2007	2009	2008	Change
	Q 4	Q 4		Q 4	12 Mon	12 Mon
Orders received, SEK million	6 448	5 645	14,2%	3 993	23 036	19 447	18,5%
adjusted for currency flucs.& corp.acqs			6,9%				0,4%
Net sales, SEK million	6 845	6 423	6,6%	3 844	22 816	19 272	18,4%
adjusted for currency flucs.& corp.acqs			-0,8%				0,2%
EBITA before restructuring- and integration costs	1 534	1 426	7,6%	500	3 933	3 428	14,7%
EBITA margin before restructuring- and integration costs	22,4%	22,2%	0,2%	13,0%	17,2%	17,8%	-0,6%
Restructuring and integration costs	193	74		110	336	221
EBITA	1 340	1 352	-0,9%	390	3 597	3 207	12,2%
EBITA margin	19,6%	21,0%	-1,4%	10,1%	15,8%	16,6%	-0,8%
Earnings per share after full tax, SEK	3,29	3,18	3,5%	0,66	8,02	6,39	25,7%
Number of shares, thousands	238 323	214 491		201 874	238 323	214 491	11,1%
Interest cover, multiple					5,5	4,0	1,5
Operating capital, SEK million					23 771	22 051	7,8%
Return on operating capital, per cent					13,3%	14,0%	-0,7%
Return on equity, per cent					16,6%	18,3%	-1,7%
Net debt/equity ratio, multiple					1,30	1,26	0,04
Cash Conversion					90,0%	46,1%
Equity/assets ratio, per cent					33,5%	32,3%	1,2%
Equity per share, SEK					52,60	44,70	17,7%

Five-year review

	2009	2008	2007	2006	2005
SEK million	31 De c	31 Dec	31 De c	31 Dec	31 De c
Net Sales	22 816	19 272	16 445	13 001	11 880
Profit before tax	1 914	1 523	1 233	1 259	1 150
Earnings per share	8,02	6,39	5,17	5,28	4,82

Income statement for the parent company

	2009	2008	2009	2008
M kr	Q 4	Q 4	12 Mon	12 Mon
Adm inistrative expenses	-45	-23	-133	-88
Operating profit	-45	-23	-133	-88
Financial net	562	-1 426	1 462	-1 848
Profit after financial items	517	-1 449	1 329	-1 936
Profit before tax	517	-1 449	1 329	-1 936
Taxes	40	458	-149	591
Net profit	557	-991	1 180	-1 345

Balance sheet for the parent company

	2009	2008
Assets SEK millio n	31 De c	31 Dec
Tangible fixed assets	34	12
Shares in group companies	5 685	4 796
Long-term financial receivables	0	19
Deferred tax asset	0	27
Receivable from group com panies	26 089	19 770
Short-term receivables	78	575
Total assets	31 886	25 199
Shareholders' equity & Liabilities
Shareholders' equity	7 382	7 101
Long-term liabilities	15 425	12 269
Current liabilities	9 045	5 829
Total Equity & Liabilities	31 886	25 199

Information pertaining to the Parent Company's development during the January - December 2009 reporting period

• Income statement At the end of the period, receivables and liabilities in foreign currencies were valued at the closing-day rate and an unrealised gain of SEK 632 million is included in the year's net financial items.
• Balance sheet During the first quarter of 2009, Datascope was acquired for a purchase consideration of USD 617 million (SEK 5,072 million). The rise in the Parent Company's long-term liabilities was primarily attributable to the financing of the acquisition.

Companies acquired in 2009

Datascope

In January 2009, Getinge acquired the US company Datascope, which operates in the area of cardiac support and vascular interventions. The acquisition price totalled approximately USD 617 million (SEK 5,072 million). The acquisition was recognised according to the purchase method. Acquisition costs in conjunction with the acqusition amounted to approximately SEK 70 million.

Acquired net assets and goodwill in conjunction with the acquisition

		Balance sheet at
		the time of	Adjustment to
SEK M	Net assets	acquisition	fair value	Fair value
	Intangible assets	99	1 810	1 909
	Tangible assets	365		365
	Other fixed assets	411		411
	Inventories	280		280
	Other current assets	809		809
	Cash and cash equivalents	2 070		2 070
	Provisions	-529	-706	-1 235
	Current liabilities	-1 028		-1 028
		2 477	1 104	3 581
	Goodwill			3 561
	Total acquisitions with cash and cash equivalents

Net outflow of cash and cash equivalents due to the acquisition
Paid cash and cash equivalents for the acquisition	7 142
Cash and cash equivalents in the acquired company at the time of acquisition	-2 070
	5 072

Goodwill that arose in conjunction with the transaction is attributable to future integration synergies within the areas of customer potential, geographical coverage, production, sales and distribution.

The company is included in Getinge's sales and operating profit as of 1 February 2009.

It is not practicable to specify the capital gain for the acquisition since the time of acquisition because an extensive integration was carried out during the quarter.

Definitions

EBIT Operating profit EBITA Operating profit before amortisation of intangible assets identified in conjunction with corporate acquisitions. BRIC Brazil, Russia, India, China