Getinge

Quarterly Report • Oct 16, 2009

Getinge Group Q3 Report 2009

Reporting period January – September

• ♦ Orders received rose by 20.2% to SEK 16.590 M (13.802)
• ♦ Net sales increased by 24.3% to SEK 15.971 M (12.849)
• ♦ Profit before tax rose by 46.2% to SEK 1.564 M (1.070)
• ♦ Net profit increased by 47.2% to SEK 1.126 M (765)
• ♦ Earnings per share increased by 47.2% to SEK 4.71 (3.20)
• ♦ Q3 EBITA before restructuring costs rose by 49% to SEK 933 M (626)
• ♦ Strong Q3 cash flow
• ♦ Continued favourable earnings outlook for the year

Third quarter 2009

Demand in Western Europe remained strong, while demand in the North American hospital market continued to stabilise. Strong price discipline and cost efficiency contributed to a healthy growth in earnings during the quarter.

Orders received	Orders received by the Group during the quarter rose by 19.1%. Orders received increased organically by 1.1% compared with a highly favourable 10.2% rise in the year-earlier period. During the period, orders received indicated a continued improvement in the demand scenario, compared with the first six months of 2009. In Western Europe, orders received remained at a strong level. In North America, orders received were up compared with the beginning of the year, adjusted for the major orders of a nonrecurring nature secured by Extended Care in the third quarter of 2008 from the Veterans Affairs. In emerging markets, overall orders received by the Group increased.
	Orders received at the business area level were varied. Medical Systems improved its organic orders received by a highly favourable 10.6%. Extended Care and Infection Control experienced an organic decline in orders received of 6.8% and 5.5% respectively.
Results	Consolidated profit before tax increased 74.7% to SEK 572 M (328). Restructuring costs of SEK 68 M (27) were charged to the period. The Group's EBITA excluding restructuring costs rose 49.1% to SEK 933 M (626). The EBITA margin increased 3 percentage points compared with the year-earlier period, up a full 17.6% during the quarter. The highly favourable earnings improvement during the period was attributable to improved invoicing volume, strong price discipline, continued strict cost control and earnings contributions from the Datascope acquisition.

EBITA improved for all business areas, and EBITA margins rose significantly for Medical Systems and Infection Control. Extended Care's EBITA margin remained unchanged during the period year-on-year.

The Group's operating cash flow from current activities rose 50% to SEK 907 M (603) for the period. The Group's net debt/equity ratio continued to improve during the quarter, to a multiple of 1.48 (1.80) at the end of the period.

Outlook Demand for the Group's products remains stable and at a strong level in the Western European market. In the US market, where the volume trend was weak early in the year, particularly in terms of medical technical capital goods, demand is expected to increase gradually. In emerging markets, the demand scenario was mixed, with setbacks in Eastern Europe and Russia, while Asia continued to perform well. The Group's gradual and increasing exposure to acute care disposables has reduced its susceptibility to fluctuations in the demand for medical technical capital goods.

Despite the prevailing demand scenario, Getinge expects to be able to improve profit before tax by about 15% in 2009. This forecast is based on the prevailing currency situation. The profit forecast includes restructuring costs totalling about SEK 250 M, of which approximately SEK 200 M pertains to the integration of Datascope. Getinge expects organic invoicing growth of between 0% and 2% for the year.

Business area Medical Systems

Orders received

	2009	2008 Change adjusted fo r		2009		2008 Change adjusted fo r
Orders received per market	Q 3	Q 3 curr.flucs.&co rp.acqs.		9 M on			9 Mon curr.flucs.&co rp.acqs.
Europe	1 295	941	16,0%	3 490	2 814	-1,0%
USA and Canada	845	590	0,9%	2 622	1 768	-2,8%
As ia and Aus tralia	507	348	5,9%	1 541	924	12,4%
Res t of the world	180	130	27,5%	530	455	1,3%
Bus ines s area total	2 827	2 009	10,6%	8 183	5 961	0,7%

During the quarter, orders received for the business area performed extremely well, rising 10.6% organically, compared with a favourable year-earlier period.

Orders received were particularly strong in Western Europe, where all regions performed well except Benelux, where volumes were in line with the year-earlier period. The Eastern European region also experienced an improvement, while orders received in Russia were considerably lower than in the year-earlier period.

In North America, orders received increased somewhat on the strong year-earlier period. The Critical Care division, which experienced a weak trend in North America during the first six months of the year, performed particularly well.

With the exception of the Middle East and Africa, orders received in emerging markets were generally strong.

	2009	2008	Change	2009	2008	Change	2008
	Q 3	Q 3		9 M on	9 Mon		FY
Net sales , SEK m illion	2 630	1 844	42,6%	7 706	5 486	40,5%	8 416
adjusted for currency flucs.& corp.acqs			10,4%			1,5%
Gros s profit	1 554	1 025	51,6%	4 382	3 126	40,2%	4 723
Gross margin %	59,1%	55,6%	3,5%	56,9%	57,0%	-0,1%	56,1%
Operating cos t, SEK m illion	-1 070	-737	45,2%	-3 337	-2 256	47,9%	-3 140
EBITA before res tructuring and integration cos ts	581	337	72,4%	1 350	1 011	33,5%	1 784
EBITA margin %	22,1%	18,3%	3,8%	17,5%	18,4%	-0,9%	21,2%
Res tructuring and integration cos ts	-65	-14		-113	-59		-72
EBIT	419	274	52,9%	932	811	14,9%	1 511
EBIT margin %	15,9%	14,9%	1,0%	12,1%	14,8%	-2,7%	18,0%

Results

Medical Systems' EBITA excluding restructuring costs was extremely strong, rising 72.4% to SEK 581 M (337). Restructuring costs for the period amounted to SEK 65 M (14). The EBITA margin rose 3.8 percentage points to 22.1% (18.3%). The improvement in profit was

attributable to contributions from the Datascope acquisition, strong price discipline and healthy invoicing growth during the quarter. The Critical Care division experienced a highly favourable trend during the quarter in the wake of supplemental deliveries resulting from the new influenza (H1N1).

Activities Integration of Cardiac and Vascular surgery divisions

Efforts to integrate the Cardiac and Vascular surgery divisions, which were acquired from Boston Scientific in January 2008, will be completed in all essential aspects during the fourth quarter of 2009.

The production of cardiovascular products at the unit in Wayne, New Jersey had already reached significant volumes by the end of the third quarter and the closure of the Dorado plant in Puerto Rico will be completed earlier than previously announced. Efforts to concentrate and coordinate administrative functions from San Jose, California to Wayne also proceeded as planned.

In addition to the aforementioned cost synergies, activities related to the development of sales synergies continued. The sales trend for perfusion product, in the US market remained strong.

Integration of Datascope

The integration of Datascope, which has been incorporated in the Group since 1 February 2009, is also progressing faster than originally announced. Datascope's New Jersey headquarters were discontinued and the corresponding property was divested during the quarter. Efforts to merge the marketing organisations of Datascope and Medical Systems are in the final stages. Cost synergies are expected to total about SEK 170 M as of 2010.

Volume growth of Datascope's products remained strong.

Product development and launches

During the quarter, Medical Systems secured FDA approval of its MEGA balloon catheter, which is deployed in conjunction with Cardiac Assist. MEGA, which has a greater balloon volume, improves blood flow in the patient's coronary artery by up to 25% compared with its predecessor. Balloon catheters are used to improve cardiac oxygen supply of the heart.

Interest for the business area's cardiopulmonary support product, Cardiohelp, remained strong. Clinical trials are currently in progress and the product is expected to reach a broader market during the first six months of 2010.

New market companies

The business area continued its international expansion and has initiated the establishment of new sales companies in Mexico and Thailand.

Divestments

During the period, a number of agreements were reached regarding the divestment of Genisphere, a subsidiary of Datascope Inc. Genisphere is a research company that develops reagents for the Life Science industry. The company, which generates sales of slightly less than USD 2 M, is not considered part of the Group's core operations.

Business area Extended Care

Orders received

	2009	2008 Change adjusted fo r		2009	2008 Change adjusted fo r
Orders received per market	Q 3	Q 3 curr.flucs.&co rp.acqs.		9 M on		9 Mon curr.flucs.&co rp.acqs.
Europe	852	829	-2.8%	2 733	2 707	-5.8%
USA and Canada	512	524	-15.9%	1 479	1 336	-9.7%
As ia and Aus tralia	145	128	4.0%	447	413	1.1%
Res t of the world	42	43	-6.4%	93	99	-9.6%
Bus ines s area total	1 551	1 524	-6.8%	4 752	4 555	-6.4%

The business area's orders received declined by 6.8% organically, compared with a strong year-earlier period.

In Western Europe, orders received in the various sub-regions were on par with the year-earlier period, while orders received in Eastern Europe declined.

In North America, orders received declined significantly. Adjusted for the major orders of a nonrecurring nature secured from the Veterans Affairs worth about USD 16 M during the year-earlier period, organic orders received were highly favourable.

In other geographic regions, the Asian and African markets performed well, while volumes in the Middle East and Latin America declined.

Results

	2009	2008	Change	2009	2008	Change	2008
	Q 3	Q 3		9 Mon	9 Mon		FY
Net sales, SEK million	1 509	1 441	4.7%	4 795	4 344	10.4%	6 174
adjusted for currency flucs.&corp.acqs			-3.6%			-0.8%
Gross profit	696	635	9.6%	2 182	2 040	7.0%	2 847
Gross margin %	46.1%	44.1%	2.0%	45.5%	47.0%	-1.5%	46.1%
Operating cost, SEK million	-513	-461	11.3%	-1 590	-1 435	10.8%	-1 969
EBITAbefore restructuring and integration costs EBITA margin %	211 14.0%	202 14.0%	4.5% 0.0%	678 14.1%	690 15.9%	-1.7% -1.8%	992 16.1%
Restructuring and integration costs	-3	-13		-30	-86		-145
EBIT EBIT margin %	180 11.9%	161 11.2%	11.8% 0.7%	562 11.7%	519 11.9%	8.3% -0.2%	733 11.9%

Extended Care's EBITA improved somewhat during the period, amounting to SEK 211 M (202). Restructuring costs totalled SEK 3 M (13) during the quarter. Invoicing declined organically during the period, and the improvement in earnings was attributable to strict cost control in production and in the marketing organisation.

Activities New Business Area Manager at Extended Care

During the quarter, Alex Meyers was appointed the new manager of the business area. Alex Myers has held a number of senior positions at Unilever and the Carlsberg Group. Most recently, Alex Myers was Senior Vice President at the Carlsberg Group, responsible for Western Europe. He was also a member of Carlsberg's Group management. Alex Myers brings considerable knowledge and experience in the areas of marketing and operational development to Extended Care and the Group.

Product launches

During the quarter, the business area launched the world's smallest passive patient lift, the Maxi Twin Compact, with a lifting capacity of 160 kilograms. The Maxi Twin Compact is easy to manoeuvre in small and confined areas.

Business area Infection Control

Orders received

	2009	2008 Change adjusted fo r		2009	2008 Change adjusted fo r
Orders received per market	Q 3	Q 3 curr.flucs.&co rp.acqs.		9 M on	9 Mon curr.flucs.&co rp.acqs.
Europe	593	569	-1.6%	1 922	1 744	1.7%
USA and Canada	370	331	-2.7%	1 180	983	-3.8%
As ia and Aus tralia	151	155	-14.1%	501	424	4.5%
Res t of the world	16	36	-55.0%	51	135	-62.5%
Bus ines s area total	1 130	1 091	-5.5%	3 654	3 286	-2.2%

Infection Control's orders received declined by 5.5% organically during the quarter.

In the Western European market, the overall trend was favourable with growth in Scandinavia, the German-speaking countries and Benelux. In Southern European markets and the UK, orders received declined somewhat. In Eastern Europe, orders received were weaker during the quarter.

In the North American market, orders received declined somewhat compared with a strong year-earlier period. Directly after the end of the period, Infection Control secured an order worth about SEK 100 M from a government agency in the US. The order, which was anticipated during the third quarter, will now be registered in the business area's orders received for the fourth quarter of 2009.

In other geographic regions, volumes declined with the exception of the Middle East and the Oceanic region.

	2009	2008	Change	2009	2008	Change	2008
	Q 3	Q 3		9 M on	9 Mon		FY
Net sales , SEK m illion	1 155	1 006	14.8%	3 470	3 018	15.0%	4 682
adjusted for currency flucs.& corp.acqs			4.7%			0.9%
Gros s profit	439	354	24.0%	1 307	1 106	18.2%	1 763
Gross margin %	38.0%	35.2%	2.8%	37.7%	36.6%	1.1%	37.7%
Operating cos t, SEK m illion	-303	-270	12.2%	-948	-816	16.2%	-1 126
EBITA before res tructuring and integration cos ts	140	87	60.9%	372	301	23.6%	652
EBITA margin %	12.1%	8.6%	3.5%	10.7%	10.0%	0.7%	13.9%
Res tructuring and integration cos ts	–	-1		–	-3		-3
EBIT	136	83	63.9%	359	287	25.1%	634
EBIT margin %	11.8%	8.3%	3.5%	10.3%	9.5%	0.8%	13.5%

Results

.

The business area generated a strong EBITA during the period totalling SEK 140 M (87), up 60%. Infections Controls' EBITA margin rose 3.5% percentage points to 12.5% (8.6%). The strong profit trend was

attributable to improved invoicing growth, a favourable product mix and enhanced cost efficiency.

Other information

Accounting	This interim report was prepared for the Group in accordance with IAS 34 Interim Financial Reporting and the Annual Accounts Act, and for the Parent Company, in accordance with the Annual Accounts Act. As of 2009, Getinge applies IFRS 8, Operating Segments, for the recognition of operating sectors. The application has not affected the number of sectors presented by Getinge or their presentation. As of 1 January 2009, Getinge also applies IAS 1, Amendment, Presentation of Financial Statements, which entails that a comprehensive earnings statement be presented. The statement is included on page 13 of this report. The application of the IAS 1 Amendment has had no impact on valuation principles. Otherwise, the accounting principles and methods of calculation used in this interim report are identical to those used in the most recent Annual Report.
Nomination Committee prior to 2010 AGM	Pursuant to a resolution by Getinge AB's 2005 Annual General Meeting, the Nomination Commitee comprises Getinge's Chairman and representatives for the five largest shareholders as of 31 August 2009, and a representative for minor shareholders. This means that prior to the 2010 Annual General Meeting, Getinge's Nomination Committee comprises: Carl Bennet, Carl Bennet AB; Marianne Nilsson, Swedbank Robur AB; Bo Selling, Alecta; Anders Oscarsson, AMF; Pontus Bergekrans, SEB Wealth Management and Olle Törnblom, representing minor shareholders.
	Shareholders who wish to submit proposals to Getinge's 2010 Nomination Committee can contact the Nomination Committee by e-mail: valberedningen@getinge.com, or by mail to: Getinge AB, Attn: Nomination Committee, Box 69, SE-310 44 GETINGE, SWEDEN.
AGM	Getinge AB's Annual General Meeting will be held on 21 April 2010 at 4:00 p.m. at the Kongresshallen of Hotell Tylösund in Halmstad, Sweden. Shareholders who would like to have a matter addressed at the Annual General Meeting on 21 April 2010 can submit proposal to Getinge's Chairman by e-mail: arenden.bolagsstamma@getinge.com or by mail to Getinge AB Attn: AGM items, Box 69, SE-310 44 GETINGE, SWEDEN. To ensure inclusion in the announcement for the AGM and thus in the AGM agenda, proposals must be received by Getinge not later than 3 March 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.

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 the economy, 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 (fourth quarter 2009) will be published on 26 January 2010.
Teleconference	A teleconference will be held today at 2:00 p.m. Swedish time. To participate, call: In Sweden + 46 (0)8 506 269 30 Outside Sweden + 44 20 77 509 950 1:45 p.m. Call the conference phone number
	2:00 p.m. Review of the interim report 2:20 p.m. Question-and-answer period 3:00 p.m. Conclusion
	A recorded version of the teleconference will be available for five working days at the following number: Sweden: +46 (0)8 506 269 49, access code: 236188#
	During the teleconference, a presentation will be held. For access to this presentation, please click on the following link:

https://www.anywhereconference.com/?Conference=108236188&PIN=13 7215

The Board of Directors and President 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.

Eslöv 16 October 2009

Carl Bennet Johan Bygge Rolf Ekedahl Chairman

Jan Forslund Carola Lemne Margareta Norell Bergendahl

Bo Sehlin Johan Stern Johan Malmquist President and CEO

Getinge AB Box 69, 310 44 Getinge

Telephone 035-15 55 00. Telefax 035-549 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	2008
SEK millio n	Q 3	Q 3		9 Mon	9 Mon		FY
Net sales	5 294	4 290	23.4%	15 971	12 849	24.3%	19 272
Cost of goods sold	-2 605	-2 276	14.5%	-8 100	-6 577	23.2%	-9 939
Gross profit	2 689	2 014	33.5%	7 871	6 272	25.5%	9 333
Gross margin	50.8%	46.9%	3.9%	49.3%	48.8%	0.5%	48.4%
Selling expenses	-1 193	-908	31.4%	-3 736	-2 808	33.0%	-3 894
Administrative expenses	-560	-441	27.0%	-1 713	-1 319	29.9%	-1 822
Research & development costs 1	-132	-113	16.8%	-423	-374	13.1%	-497
Restructuring and integration costs	-68	-27		-143	-147	-2.7%	-221
Other operating income and expenses	0	-7		-2	-7		-22
Operating profit 2	736	518	42.1%	1 854	1 617	14.7%	2 877
Operating margin	13.9%	12.1%	1.8%	11.6%	12.6%	-1.0%	14.9%
Financial Net, SEK 3	-164	-190		-290	-547		-751
Profit before tax	572	328	74.4%	1 564	1 070	46.2%	2 126
Taxes	-160	-93		-438	-305		-603
Net profit	412	235	75.3%	1 126	765	47.2%	1 523
Attributable to:
Parent company's shareholders	409	234		1 123	763		1 524
Minority interest	3	1		3	2		- 1
Net profit	412	235		1 126	765		1 523
Earnings per share, SEK 4	1.72	0.98	75.5%	4.71	3.20	47.2%	6.39

1 Development costs totalling SEK 416 (305) million have been capitalised during the year, of which 147 million (98) in the quarter

2 Operating profit is charged with

— amort. Intangibles on acquired companies	-129	-79	-403	-237	-330
— amort. intangibles	-47	-27	-133	-80	-116
— depr. on other fixed assets	-161	-127	-507	-371	-523
	-337	-233	-1 043	-688	-969
3 Financial net income
— currency gains	0	0	228	0	0
— net of interest incomes, interest
expenses and other financial expenses	-164	-190	-518	-547	-751
	-164	-190	-290	-547	-751

4 There are no dilutions

Comprehensive earnings statement

	2009	2008	2009	2008
SEK millio n	Q 3	Q 3	9 Mon	9 Mon
Profit for the period	412	234	1 126	765
Other comprehensive earnings
Translation differences	-940	329	-454	-128
Cash-flow hedges	737	-178	1 065	-194
Income tax related to other partial
result items	-194	49	-280	54
Other comprehensive earnings for the
period, net after tax	-397	200	331	-268
Total comprehensive earnings for the period	14	434	1 457	497
Comprehensive earnings attributable to:
Parent Company shareholders	14	434	1 457	497
Minority interest	-	-	-	-

Quarterly results

	2007	2007	2008	2008	2008	2008	2009	2009	2009
SEK m illio n	Q 3	Q 4	Q 1	Q 2	Q 3	Q 4	Q 1	Q 2	Q 3
Net sales	3 845	5 156	4 107	4 451	4 291	6 423	5 153	5 524	5 294
Cos t of goods sold	-2 141	-2 827	-2 040	-2 260	-2 276	-3 362	-2 622	-2 873	-2 605
Gros s profit	1 704	2 329	2 067	2 191	2 014	3 061	2 531	2 651	2 689
Operating cos t	-1 351	-1 323	-1 500	-1 539	-1 496	-1 801	-2 047	-2 016	-1 953
Operating profit	353	1 006	545	554	518	1 260	484	635	736
Financial net	-132	-131	-182	-174	-190	-205	46.0	-172	-164
Profit before tax	221	875	363	380	328	1 055	530	463	572
Taxes	-63	-263	-103	-108	-93	-299	-148	-130	-160
Profit after tax	158	612	260	272	235	757	382	333	412

Consolidated Balance sheet

	2009	2008	2008
Assets SEK m illio n	30 Sep	30 Sep	31 Dec
Intangible fixed as sets	19 941	15 121	15 879
Tangible fixed as sets	3 579	2 914	3 257
Financial as sets	1 434	1 055	1 250
Stock-in-trade	4 622	3 950	4 015
Current receivables	6 164	5 546	7 125
Cash and cash equivalents	1 533	939	1 506
Total assets	37 273	29 525	33 032
Shareholders' equity & Liabilities
Shareholders ' equity	11 561	8 067	10 676
Long-term liabilities	20 150	15 930	15 847
Current liabilities	5 562	5 528	6 509
Total Equity & Liabilities	37 273	29 525	33 032

Consolidated Cash flow statement

	2009	2008	2009	2008	2008
S E K m illio n	Q 3	Q 3	9 M on	9 Mon	FY
Current activities
Operating profit	736	518	1 854	1 617	2 877
Adjus tm ent for item s not included in cash flow	350	230	1 086	772	939
Financial item s	-164	-190	-290	-547	-751
Taxes paid	-103	-114	-342	-470	-618
Cash flow before changes in working capital	819	444	2 308	1 372	2 447
Changes in working capital
Stock-in-trade	-51	-185	-598	-652	-575
Rental equipm ent	-42	-60	-167	-139	-228
Current receivables	45	-281	1 211	388	-360
Current operating liabilities	-194	340	-591	211	191
Cash flow from operations	577	258	2 163	1 180	1 475
Investm ents
Acquis ition of subs idiaries	–	-181	-5 050	-5 074	-5 008
Other acqus ition expenses	-66		-457	–
Inves tm ents in intangible fixed as sets	-191	-112	-496	-333	-476
Inves tm ents in tangible fixed as sets	-151	-175	-567	-413	-595
Cash flow from investments	-408	-468	-6 570	-5 820	-6 079
Financial activities
Change in interes t-bearing debt	-1 510	980	3 750	4 173	3 524
Change in long-term receivables	-55	-163	113	-148	-414
New share is sue Dividend paid	– 0	– 0	– -572	1 491 -515	3 453 -515
	-1 565	817	3 291	5 001	6 048
Cash flow from financial activities
Cash flow for the period	-1 396	607	-1 116	361	1 444
Cash and cash equivalents at begin of the year	1 733	1 081	1 506	894	894
Trans lation differences	1 196	-749	1 143	-316	-832
Cash and cash equivalents at end of the period	1 533	939	1 533	939	1 506

Operating cash flow statement

	2009	2008	2009	2008	2008
S E K m illio n	Q 3	Q 3	9 M on	9 Mon	FY
Business activities
Operating profit	736	518	1 854	1 617	2 877
Res tructuring cos ts	68	28	143	147	221
Adjus tm ent for item s not included in cash flow	347	244	1 060	744	941
	1 151	790	3 057	2 508	4 039
Changes in operating capital
Stock-in-trade	-52	-185	-598	-652	-575
Rental equipm ent	-43	-60	-167	-139	-228
Current receivables	45	-281	1 211	388	-360
Current liabilities	-194	340	-591	211	191
Operating cash flow	907	604	2 912	2 316	3 067
Res tructuring cos t cash generated	-64	-41	-117	-119	-223
Operating cash flow after restructuring
cost	843	563	2 795	2 197	2 844

Consolidated Net interest-bearing debt

	2009	2008	2008
S E K m illio n	30 Sep	30 Sep	31 Dec
Debt to credit ins titutions	16 966	13 650	13 244
Provis ions for pens ions , interes t-bearing	1 660	1 823	1 730
Les s liquid funds	-1 533	-939	-1 506
Net interest-bearing debt	17 093	14 534	13 468

Changes to shareholders' equity

		Other
		contributed		Profit brought		Minority	Total
SEK million	Share capital	capital	Reserves	forward	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 comprehensive
earnings for the period			-268	765	497		497
New share issue		1 492			1 492		1 492
Closing balance on 30	101	4 017	-462	4 386	8 042	25	8 067
September 2008
Opening balance on 1 January 2009	119	5 960	-572	5 145	10 652	24	10 676
Dividend				-572	-572		-572
Total comprehensive
earnings for the period			331	1 126	1 457		1 457
Closing balance on 30	119	5 960	-241	5 699	11 537	24	11 561
September 2009

Key figures

	2009	2008	Change	2007	2009	2008	Change	2007	2008
	Q 3	Q 3		Q 3	9 M on	9 Mon		9 mån	FY
Orders received, SEK m illion	5 509	4 624	19.1%	3 993	16 590	13 802	20.2%	11 933	19 447
adjus ted for currency flucs .& corp.acqs			1.1%				-2.3%
Net sales , SEK m illion	5 294	4 290	23.4%	3 844	15 971	12 849	24.3%	11 288	19 272
adjus ted for currency flucs .& corp.acqs			4.3%				0.6%
EBITA before res tructuring- and integration
cos ts	933	626	49.0%	500	2 400	2 001	19.9%	1 581	3 427
EBITA m argin before res tructuring- and integration cos ts	17.6%	14.6%	3.0%	13.0%	15.0%	15.6%	-0.6%	14.0%	17.8%
Res tructuring and integration cos ts	68	27		110	143	147		230	220
EBITA	865	597	44.9%	390	2 257	1 854	21.7%	1 351	3 207
EBITA m argin	16.3%	13.9%	2.4%	10.1%	14.1%	14.4%	-0.3%	12.0%	16.6%
Earnings per share after full tax, SEK	1.72	0.98	75.5%	0.66	4.71	3.20	47.2%	2.60	6.39
Num ber of shares , thousands	238 323	214 491		201 874	238 323	214 491	11.1%	201 874	214 491
Operating capital, SEK m illion					24 026	16 681	44.0%	10 555	22 051
Return on operating capital, per cent					13.4%	15.4%	-2.0%	19.4%	14.0%
Return on equity, per cent					18.2%	20.9%	-2.7%	19.9%	29.0%
Net debt/equity ratio, m ultiple					1.48	1.80	-0.32	1.70	1.26
Interes t cover, m ultiple					5.0	4.0	1.0	4.7	4.0
Equity/as sets ratio, per cent					31.0%	27.4%	3.6%	27.4%	32.3%
Equity per share, SEK					48.40	37.50	29.1%	29.90	44.70
Num ber of em ployees at the period's end					12 259	11 632	5.4%	10 608	11 623

Five-year review

	2009	2008	2007	2006	2005
SEK million	30 Sep	30 Sep	30 Sep	30 Sep	30 Sep
Net Sales	15 971	12 849	11 288	9 006	7 992
Profit before tax	1 126	765	620	686	654
Earnings per share	4.71	3.20	2.60	2.88	2.74

Income statement for the parent company

Income Statement for the Parent Company
-----------------------------------------	--

	2009	2008	2009	2008	2008
Mkr	Q 3	Q 3	9 Mon	9 Mon	FY
Administrative expenses	-32	-19	-88	-65	-88
Operating profit	-32	-19	-88	-65	-88
Financial net	299	-576	900	-422	-1 848
Profit after financial items	267	-595	812	-487	-1 936
Profit before tax	267	-595	812	-487	-1 936
Taxes	-43	165	-189	133	591
Net profit	224	-430	623	-354	-1 345

Balance sheet for the parent company

Balance Sheets

	2009	2008	2008
Assets SEK million	30 Sep	30 Sep	31 Dec
Tangible fixed assets	34	11	12
Shares in group companies	4 796	4 796	4 796
Long-term financial receivables	3	38	19
Deferred tax asset	27	86	27
Receivable from group companies	24 843	16 582	19 770
Short-term receivables	59	76	575
Total assets	29 762	21 589	25 199
Shareholders' equity & Liabilities
Shareholders' equity	7 248	4 315	7 101
Long-term liabilities	16 283	11 073	12 269
Current liabilities	6 231	6 201	5 829
Total Equity & Liabilities	29 762	21 589	25 199

Information pertaining to the Parent Company's performance January- September 2009

Income statement At the end of the period, claims and liabilities in foreign currencies were measured at the closing date exchange rate, and an unrealised gain of SEK 776 million was included in net financial income for the quarter. Balance sheet During the first quarter of 2009, Datascope was acquired for a purchase consideration of USD 617 million (SEK 5,050 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 5,050 million). The acquisition was recognised according to the purchase method. Acquisition costs in conjunction with the acqusition amounted to approximately SEK 60 million.

		Balance sheet at
		the time of	Adjustment to
SEK M	Net assets	acquisition	fair value	Fair value
	Intangible assets	51	1 807	1 858
	Tangible assets	349		349
	Other fixed assets	412		412
	Inventories	286		286
	Other current assets	810		810
	Cash and cash equivalents	2 070		2 070
	Provisions	-548	-614	-1 162
	Current liabilities	-1 044		-1 044
		2 386	1 193	3 579
	Goodwill			3 541
	Total acquisitions with cash and cash equivalents

Acquired net assets and goodwill in conjunction with the acquisition

Net outflow of cash and cash equivalents due to the acquisition
Paid cash and cash equivalents for the acquisition	7 120

Cash and cash equivalents in the acquired company at the time of acquisition	-2 070
	5 050

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

Review report

We have reviewed this report for the period 1 January 2009 to 30 September 2009 for Getinge AB (publ). The board of directors and the CEO are responsible for the preparation and presentation of this financial information in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review.

We conducted our review in accordance with the Swedish Standard on Review Engagements SÖG 2410, Review of Interim Report Performed by the Independent Auditor of the Entity, issued by FAR SRS. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing in Sweden, RS, and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act, regarding the Group, and with the Swedish Annual Accounts Act, regarding the Parent Company.

Malmö, 16 October 2009

Öhrlings PricewaterhouseCoopers AB

Magnus Willfors Johan Rippe Authorised Public Accountant Authorised Public Accountant Auditor in charge