Getinge

Quarterly Report • Jul 16, 2007

• ♦ Orders received up 19% to SEK 7,940 million (6,669)
• ♦ Net sales rose by 22% to SEK 7,444 million (6,123)
• ♦ Profit before tax increased by 4% to SEK 652 million (626)
• ♦ Net profit rose by 1% to SEK 463 million (457)
• ♦ Earnings per share increased 2.2% to SEK 2.29 (2.24)
• ♦ Q2 operating profit (EBITA) before restructuring increased by 41% to SEK 603 million (428)
• ♦ The Q2 operating (EBITA) margin before restructuring rose by 1.4 percentage points to 15.0% (13.6%)
• ♦ Integration of Huntleigh proceeding according to plan
• ♦ Earnings outlook for the year remains favourable

Second quarter 2007

Excluding restructuring costs connected to the integration of Huntleigh, all business areas reported strong ongoing earnings growth and rising operating margins. Demand remains favourable. The integration of the newly acquired Huntleigh, which has entered a more intensive phase, is proceeding as planned.

Orders received	Orders received by the Group grew organically by a healthy 5.1% during the period compared with the strong second quarter of the preceding year, when orders received rose organically by 13.0%.
	For Medical Systems, orders received remained favourable, despite organically increasing by a mere 0.8% compared with the extremely strong second quarter of 2006.
	Organic growth in orders received for Infection Control rose by favourable 9.5% in the period. Orders received by Infection Control in the corresponding period of the preceding year were also highly positive. The volume trend was particularly favourable in the markets in Europe.
	Within Extended Care, the positive trend in orders received continued. During the quarter, orders received increased organically by 7.6%. The trend was strong in most geographic regions. The new acquisition, Huntleigh, which is consolidated as of February of the current year, is not included in the calculation of organic orders received. Orders received by the Huntleigh operations during the period increased according to plan.
Results	Consolidated profit before tax was on a par with profit in the preceding year and amounted to SEK 366 million (364). The Group's operating profit (EBITA) rose 24.8% to SEK 533 million (427). Restructuring costs

	of SEK 70 million relating to the Huntleigh acquisition are charged against earnings for the period. Excluding restructuring costs, the Group's EBITA increased by 40.9% and the EBITA margin rose by 1.4 percentage points to 15.0%.
	Medical Systems increased its EBITA by a healthy 12.2% to SEK 221 million (197). The improvement was mainly an effect of strong invoicing growth. The EBITA margin improved somewhat during the quarter.
	Infection Control's EBITA amounted to SEK 141 million (120), an increase of 17.5%. Cost control during the period was excellent. The EBITA margin for the business area strengthened during the period and amounted to 13.2%, an increase of 1.8 percentage points compared with the corresponding period of the preceding year.
	Extended Care's EBITA improved sharply, amounting to SEK 170 million (105), an increase of 61.9%. Excluding SEK 70 million in restructuring costs related to the integration of Huntleigh, EBITA rose by 128.6%. Extended Care's operating profit and operating margin excluding Huntleigh continued to improve, as an effect of completed production efficiency enhancements and better volume growth. Huntleigh's operating profit is developing according to plan.
Outlook	The demand situation for the Group's products is still considered to be excellent in most geographic regions and for most product areas. In Europe, demand has been gradually improving and stabilising for some time. In North America, the strong demand is seen to be ongoing and orders received are expected to improve during coming quarters. From a historical perspective, the Group's order backlog is at an excellent level.
	Medical Systems anticipates a continued favourable volume trend during the year as a result of strong demand, a strengthening of the product range and an expanded marketing organization. The gross and operating margins are rising as a result of newly launched products with a better price picture, as well as production efficiency enhancements in Cardiopulmonary.
	Infection Control also forecasts favourable volume growth. As with Medical Systems, the marketing organisation has been gradually expanded over the past few years. Several products currently being launched will contribute to the growth. The integration of La Calhène, now complete, will lead to a reduction in nonrecurring costs while synergies from the acquisition will simultaneously contribute to growth in earnings. The EBITA margin is expected to rise during the year.
	In Extended Care, the underlying growth is improving and becoming stabilised. Due to the effects of the major deliveries to Ontario, Canada, and to the US, in the wake of the FDA embargo in the early part of the preceding year, there has been only modest visible growth in invoicing. The gross margin and the operating margin improved after the restructuring carried out in patient handling in the preceding year. The Huntleigh acquisition, consolidated as of February this year, is expected to contribute to consolidated pre-tax profit during the current year. The restructuring and integration of Huntleigh will lead to SEK 250–260 million in nonrecurring costs for the current year.

On the whole, the Group's assessment of its earnings outlook has not changed since the most recent report and the outlook for 2007 is deemed favourable. The Group continues to invest in expanding its market organisation and in developing new products, albeit at a somewhat lower pace than in 2006.

The EBITA-margin will improve for the group as a whole also including Huntleigh, but excluding restructuring and integration costs related to the Huntleigh integration.

Business area Medical Systems

Market development

	2007	2006 Change adjusted fo r		2007	2006 Change adjusted fo r
Orders received per market	Q 2	Q 2 curr.flucs.&co rp.acqs.		6 Mon	6 Mon curr.flucs.&co rp.acqs.
Europe	854	947	-9.3%	1,652	1,711	-2.5%
USA and Canada	272	279	5.1%	511	619	-9.7%
As ia and Aus tralia	278	226	29.7%	480	420	21.1%
Rest of the world	85	75	24.6%	175	173	2.4%
Bus ines s area total	1,489	1,527	0.8%	2,818	2,923	-0.3%

Orders received during the period were favourable, taking into account the strong trend in the corresponding period of the preceding year, when orders received rose organically by 16.7%.

The lower level of orders received in Europe was due entirely to the large orders registered in the second quarter of the preceding year in Russia. In German-speaking markets, orders received were marginally lower than in the corresponding period of the preceding year, while other markets in Western Europe improved compared with last year. Orders received in Eastern Europe were on a par with the second quarter of 2006.

In North America, orders received improved in both the US and Canada. For Critical Care, the volume trend remained healthy.

In emerging markets, volume growth was favourable across the board, particularly in the large markets of China, India and Brazil. The situation regarding orders received was also excellent in Japan.

Results

	2007	2006	Change	2007	2006	Change	2006
	Q 2	Q 2		6 Mon	6 Mon		FY
Net sales, SEK m illion	1,413	1,316	7.4%	2,685	2,578	4.2%	5,542
adjusted for currency flucs.& corp.acqs			10.7%			7.5%
Gross profit	724	665	8.9%	1,428	1,282	11.4%	2,784
Gross margin %	51.2%	50.5%	0.7%	53.2%	49.7%	3.5%	50.2%
Operating cost, SEK m illion	-505	-469	7.7%	-1,010	-925	9.2%	-1,895
EBITA before restructuring and integration costs	221	197	12.2%	422	360	17.2%	896
EBITA margin %	15.6%	15.0%	0.6%	15.7%	14.0%	1.7%	16.2%
Restructuring and integration costs	–	–	100.0%	–	–	100.0%	–
EBIT EBIT margin %	219 15.5%	196 14.9%	11.7% 0.6%	418 15.6%	357 13.8%	17.1% 1.8%	889 16.0%

EBITA increased by 12.2% during the period to SEK 221 million (197). The EBITA margin amounted to a strong 15.6%, an improvement of 0.6 percentage points over the corresponding quarter of the preceding year. The increase in profit was primarily an effect of excellent invoicing growth. The gross margin remained healthy, due to a favourable product mix and continuing efficiency enhancements. Increased overheads in the period reflect projected investments and the acquisitions carried out in the second half of the preceding year.

Activities Product development and product launches

As part of an effort to strengthen long-term growth in the business area, significant ongoing investments in product development are under way. The investments in the Critical Care and the Cardiopulmonary divisions are particularly substantial.

The ongoing launch of the NAVA ventilator technology is proceeding according to plan. At present, a large number of clinical trials are being launched at eight locations in Western Europe, aimed at demonstrating that the use of the NAVA Technology can significantly shorten the duration of medical treatment, thereby reducing medical expenses. NAVA technology has already had a positive impact on sales of servoventilators, since these are the only ventilators that can use the NAVA technology.

Significant investments are also being undertaken within Critical Care, to develop a new generation of anaesthesia machines. The new product programme is expected to have the potential to successfully compete in a market valued at approximately SEK 5,500 million – a market in which Medical Systems has ambitious plans to eventually capture market share. The product will be presented toward the end of the current year. It is believed the deliveries of the new product on a commercial scale can begin during the second half of next year.

The launch of a new programme of oxygenators in the Cardiopulmonary division is proceeding according to plan, and until the end of 2008 these

will replace existing oxygenator modules. The new product programme, which has a modular structure, will combine better performance with lower costs. Development of a new generation of heart–lung machines has commenced in this division. The new product will not only replace existing heart–lung machines, but will also have completely new applications within cardiology and acute cardiac care.

Production in China

The expansion of the business area's local production in China is proceeding according to plan. The new production unit that is to be built in China for Medical Systems will be deployed at the beginning of next year and will facilitate an expansion of local production. At present, local Chinese manufacturing is focusing on ceiling service units. Production of surgical lights is expected to commence before the end of the current year. In 2008, the range produced will also include basic surgical tables.

Business area Infection Control

Market development

	2007	2006 Change adjusted fo r		2007		2006 Change adjusted fo r
Orders received per market	Q 2		Q 2 curr.flucs.&co rp.acqs.	6 Mon	6 Mon curr.flucs.&co rp.acqs.
Europe	646	552	17.8%	1,272	1,117	14.8%
USA and Canada	345	398	-7.0%	645	755	-6.6%
Asia and Australia	130	133	-0.9%	240	239	2.9%
Rest of the world	49	5	274.5%	59	31	90.0%
Business area total	1,170	1,088	9.5%	2,216	2,142	7.0%

During the period, the trend of orders received was favourable, increasing organically by 9.5% compared with the strong second quarter of the preceding year.

The volume trend was excellent in Europe, particularly in Eastern Europe. In Western Europe, orders received were better than in the preceding year in several markets. Orders received were very strong in Southern European countries.

Orders received in the North American market declined during the quarter, particularly in the US. The volume decline must be considered in the light of the strong second quarter in the preceding year in the US, and the outlook for the year remains favourable.

In the more volatile emerging markets, orders received were mixed, with a weak trend in Southeast Asia, but strong growth in Latin America and the Middle East.

Results

	2007	2006	Change	2007	2006	Change	2006
	Q 2	Q 2		6 Mon	6 Mon		FY
Net sales, SEK m illion	1,065	1,055	0.9%	1,917	1,949	-1.6%	4,262
adjusted for currency flucs.& corp.acqs			3.7%			2.0%
Gross profit	400	398	0.5%	733	748	-2.0%	1,605
Gross margin %	37.6%	37.7%	-0.1%	38.2%	38.4%	-0.2%	37.7%
Operating cost, SEK m illion	-263	-282	-6.7%	-511	-547	-6.6%	-1,043
EBITA before restructuring and integration costs	141	120	17.5%	230	209	10.0%	577
EBITA margin %	13.2%	11.4%	1.8%	12.0%	10.7%	1.3%	13.5%
Restructuring and integration costs	–	-1	-100.0%	–	-6	-100.0%	-10
EBIT	137	115	19.1%	222	195	13.8%	552
EBIT margin %	12.9%	10.9%	2.0%	11.6%	10.0%	1.6%	13.0%

Operating profit (EBITA) amounted to SEK 141 million (120) during the period, an increase of 17.5% compared with the preceding year. The profit growth was mainly attributable to strong cost control and volume growth. La Calhène, now fully integrated in the operations, contributed to the earnings growth. The EBITA margin for the quarter improved by 1.8 percentage points to 13.2%. The somewhat lower gross margin was mainly an effect of adverse currency effects.

Activities Logistics project

Infection Control's logistics project, which is aimed at enhancing the efficiency of order and delivery procedures as well as reducing tied-up capital, is proceeding as planned. When fully implemented, the project will result in annual savings of about SEK 50 million.

Production in China

The construction in China of a local unit for production of pressure vessels for sterilizers is a key step toward further increasing competitiveness for the Chinese market. The production of pressure vessels in China will commence during the final quarter of the current year.

New business area president

In an effort to better coordinate and integrate Infection Control's operations, currently divided into a supply division and a market division, a new president of the business area has been appointed. The new president will be in charge of Infection Control's entire global operations. The purpose of the new combined organization under new management is to further increase the pace of integration and growth in the business area.

Christer Ström has been appointed president of the "new" Infection Control business area. Christer has had a long and dynamic international career with the Unilever Group and most recently the Berendsen Group, where he served as CEO. Berendsen, which has net sales of about SEK 5.5 billion and 7,000 employees, is a leader in Europe in the leasing and cleaning of textiles for hotels, restaurants, healthcare, etc.

Business area Extended Care

Market development

	2007	2006 Change adjusted fo r		2007	2006 Change adjusted fo r
Orders received per market	Q 2	Q 2 curr.flucs.&co rp.acqs.		6 Mon		6 Mon curr.flucs.&co rp.acqs.
Europe	945	463	7.7%	1,822	951	6.8%
USA and Canada	411	242	9.7%	798	584	-4.3%
Asia and Australia	138	32	-10.0%	219	52	-1.4%
Rest of the world	50	0	210.4%	67	2	-23.8%
Business area total	1,544	737	7.6%	2,906	1,589	2.5%

Orders received by the business area increased organically by 7.6% during the quarter.

The volume trend in Europe was generally stable, particularly in the UK and the Benelux region. In North America, orders received remained favourable, particularly in the US.

For the Huntleigh operations, which are consolidated in the Group as of February of this year, orders received are growing as planned.

Results

	2007	2006	Change	2007	2006	Change	2006
	Q 2	Q 2		6 Mon	6 Mon		FY
Net sales, SEK m illion	1,552	773	100.8%	2,843	1,581	79.8%	3,183
adjusted for currency flucs.& corp.acqs			3.6%			-0.4%
Gross profit	699	357	95.8%	1,326	719	84.4%	1,500
Gross margin %	45.0%	46.2%	-1.2%	46.6%	45.5%	1.1%	47.1%
Operating cost, SEK m illion	-489	-257	90.3%	-951	-508	87.2%	-977
EBITA before restructuring and integration costs	240	105	128.6%	429	218	96.8%	539
EBITA margin %	15.5%	13.6%	1.9%	15.1%	13.8%	1.3%	16.9%
Restructuring and integration costs	-70	–	100.0%	-120	-41	192.7%	-35
EBIT	140	101	38.6%	255	170	50.0%	488
EBIT margin %	9.0%	13.1%	-4.1%	9.0%	10.8%	-1.8%	15.3%

Extended Care's operating profit (EBITA) improved by 61.9% in the period and amounted to SEK 170 million (105). EBITA includes SEK 70 million of restructuring and integration costs relating to the Huntleigh integration. Excluding the restructuring costs of SEK 70 million, EBITA increased by 128.6%.

The improvement is an effect of a contribution to earnings from the Huntleigh acquisition, as well as a significant improvement in Extended Care's underlying profit following production efficiency enhancements carried out in the preceding year.

Activities Product development and product launches

The development of a new generation of passive patient lifts is proceeding according to plan. The new product family is based on three platforms and replaces seven existing product platforms. The new product family is expected to offer significantly improved performance and increased competitiveness. The launch of the new patient lift programme will be initiated in the second half of the year and completed in 2008.

Huntleigh integration

The integration of Huntleigh, which commenced during the early part of the year, is proceeding according to plan. Since the end of the first quarter, a joint organisation with a common management group has been established for the new business area. The purpose of the new organisation is to optimise the cost structure and contribute to the full development of all possible synergies in terms of sales. The integration activities completed or initiated to date comprise the following:

• Winding-up of the Head Office of Huntleigh in Luton, in the UK.
• The merger of Huntleigh's and Extended Care's wound care operations in the US.
• The amalgamation of Huntleigh's and Extended Care's wound care operations in the UK.
• The winding-up of Huntleigh's and Extended Care's manufacturing of wound care mattresses in Luton and Waterlooville and relocation to the production unit in Poznan, Poland.
• Negotiations to wind up Huntleigh's bed manufacturing operations in Wednesbury, UK, and relocation of the operations to Poznan, Poland.
• The merger of Huntleigh's and Extended Care's distribution companies in Germany, Austria, Switzerland, Scandinavia, Spain and Ireland.

In the short term, integration efforts will focus primarily on creating a costeffective, competitive structure. As of 2008, the focus will gradually shift to developing sales synergies that are expected to become apparent starting in the middle of the next financial year.

Cost synergies are expected to exceed SEK 300 million annually when fully developed, in 2009/2010. Restructuring costs are expected to total approximately SEK 400 million, of which SEK 250–260 million will be charged against earnings for the current year.

The business area expects to be able to reach its financial targets for the merged operations in 2009, implying an EBITA margin of not less than 19% and organic growth of 7%.

Other information

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.
Accounting	This interim report was prepared in accordance with IAS 34 Interim Financial Reporting. The accounting and calculation principles used in the interim report are identical to those used in the most recent annual report.
	This report is unaudited.
Forward-looking information	This report contains forward-looking information based on the current expectations of Getinge's Group 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 business cycles, 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 (third quarter of 2007) will be published on 18 October 2007.
Teleconference	A teleconference will be held today at 9:30 a.m. Swedish time. To participate, please call: from Sweden: 08-50520 114, password: Getinge from the UK: +44-20-7162 0125, password: Getinge
	A recorded version of the conference will be available for five working days on the following numbers: Sweden: 08-505 203 33, access code: 757656 UK: +44-(0)20 7031 4064, access code: 757656

The Board of Directors and the President hereby declare that this interim report presents a true and fair picture of the Group's operations, position and earnings, and describes the primary risks and uncertainty factors facing the Group.

Getinge 16 July 2007

Carl Bennet Johan Bygge Rolf Ekedahl Chairman Arild Karlsson Carola Lemne Margareta Norell Bergendahl Bo Sehlin Johan Stern Johan Malmquist CEO

Getinge AB Box 69, 310 44 Getinge Telefon 035-15 55 00. Telefax 035-549 52 e-post info@getinge.com Organisationsnummer 556408-5032 www.getinge.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.

Income statement

	2007	2006	Change	2007	2006	Change	2006
SEK million	Q 2	Q 2		6 Mon	6 Mon		FY
Net sales	4,029	3,148	28.0%	7,444	6,123	21.6%	13,001
Cost of goods sold 4	$-2,206$	$-1,726$	27.8%	$-3,957$	$-3,370$	17.4%	$-7,107$
Gross profit	1,823	1,422	28.2%	3,487	2,753	26.7%	5,893
Gross margin	45.2%	45.2%	0.0%	46.8%	45.0%	1.8%	45.0%
Selling expenses 4	$-793$	$-625$	26.9%	$-1,508$	$-1,220$	23.6%	$-2,467$
Administrative expenses 4	$-394$	$-298$	32.2%	$-785$	$-598$	31.3%	$-1,191$
Research & development costs
1)	$-78$	$-71$	9.9%	$-180$	$-153$	17.6%	$-282$
Restructuring and integration
costs	$-70$	$-1$		$-120$	$-47$		-45
Other operating income and
expenses	8	-9		$\mathbf{2}$	$-6$		28
Operating profit 2)	496	418	18.7%	896	729	22.9%	1,936
Operating margin	12.3%	13.3%	$-10%$	12.0%	11.9%	0.1%	14.9%
Financial net	$-130$	$-54$		$-244$	$-103$		$-208$
Profit before tax	366	364	0.5%	652	626	4.2%	1,728
Taxes	$-106$	$-98$		$-189$	$-169$		-469
Net profit	260	266	$-2.3%$	463	457	1.3%	1,259
Attributable to:
Parent company's shareholders	260	265		463	452		1,254
Minority interest	$\mathbf{0}$	1		$\mathbf{0}$	5		5
Net profit	260	266		463	457		1,259
Earnings per share, SEK 3)	1.29	1.31	$-1.5%$	2.29	2.24	2.2%	6.21

1) Developm ent costs totalling SEK 142 (82) m illion have b een capitalised during the year, of which 87.4 (50.3) m illion were capitalised during the quarter.

2) Operating profit is charged with

— amort. Intangibles on
acquired companies	-37	-9	-65	-18	-37
— amort. intangibles	-16	-10	-34	$-20$	-47
— depr. on other fixed assets	$-122$	-63	$-218$	$-1.34$	-250
	-175	-82	-317	$-172$	$-334$

3) There are no dilutions

4) Due to reclassification of certain costs, som e transfer have b een m ade in the com parision from cost of goods sold to selling- and adm inistration expenses.

Quarterly results

	2005	2005	2005	2006	2006	2006	2006	2007	2007
SEK millio n	Q 2	Q 3	Q 4	Q 1	Q 2	Q 3	Q 4	Q 1	Q 2
Net sales	2,739	2,728	3,888	2,975	3,148	2,883	3,995	3,415	4,029
Cost of goods sold	-1,518	-1,525	-2,163	-1,644	-1,726	-1,618	-2,120	-1,751	-2,206
Gross profit	1,221	1,203	1,725	1,331	1,422	1,265	1,875	1,664	1,823
Operating cost	-867	-856	-986	-1,020	-1,004	-898	-1,035	-1,264	-1,327
Operating profit	354	347	739	311	418	367	840	400	496
Financial net	-50	-55	-47	-49	-54	-53	-52	-114	-130
Profit before tax	304	292	692	262	364	314	788	286	366
Taxes	-85	-82	-197	-71	-98	-85	-215	-83	-106
Profit after tax	219	210	495	191	266	229	573	203	260

Balance sheet

	2007	2006	2006
Assets SEK millio n	30 June	30 June	31 Dec
Intangible fixed assets	10,569	5,444	5,516
Tangible fixed assets	2,297	1,359	1,397
Financial assets	968	729	1,876
Stock-in-trade	3,066	2,310	2,083
Current receivables	4,568	3,524	4,332
Cash and cash equivalents	843	942	673
Total assets	22,311	14,308	15,877
Shareholders' equity & Liabilities
Shareholders' equity	6,110	5,372	6,005
Long-term liabilities	12,139	6,043	6,568
Current liabilities	4,062	2,893	3,304
Total Equity & Liabilities	22,311	14,308	15,877

Cash flow statement

	2007	2006	2007	2006	2006
SEK millio n	Q 2	Q 2	6 Mon	6 Mon	FY
Current activities
Operating profit	496	418	896	729	1,936
Adjustm ent for item s not included in cash flow	205	71	377	158	277
Financial item s	-130	-54	-244	-103	-203
Taxes paid	-171	-111	-296	-242	-387
Cash flow before changes in working capital	400	324	733	542	1,623
Changes in working capital
Stock-in-trade	-122	-51	-507	-245	-75
Rental equipm ent	-74	-3	-85	1	-11
Current receivables	100	182	577	449	-484
Current operating liabilities	-214	62	5	190	451
Cash flow from operations	90	514	723	937	1,504
Investm ents
Acquisition of subsidiaries	-58	9	-5,572	4	-272
Investm ents in intangible fixed assets	-95	-51	-155	-84	-206
Investm ents in tangible fixed assets	-137	-58	-220	-118	-315
Disposal of tangible fixed assets	2	93	7	94	157
Cash flow from investments	-288	-7	-5,940	-104	-636
Financial activities
Change in interest-bearing debt	472	174	4,667	-147	568
Change in long-term receivables	5	-95	1,230	-120	-1,277
Minority redem ption	–	–	–	–	51
Dividend paid	-444	-404	-444	-404	-405
Cash flow from financial activities	33	-325	5,453	-671	-1,063
Cash flow for the period	-165	182	236	162	-195
Cash and cash equivalents at begin of the year	931	689	673	684	684
Translation differences	77	71	-66	96	184
Cash and cash equivalents at end of the period	843	942	843	942	673

Operating cash flow statement

	2007	2006	2007	2006	2006
SEK millio n	Q 2	Q 2	6 Mon	6 Mon	FY
Business activities
Operating profit	496	418	896	729	1,936
Adjustm ent for item s not included in cash flow	206	71	377	158	277
	702	489	1,273	887	2,213
Changes in operating capital
Stock-in-trade	-122	-51.0	-507	-245	-75
Rental equipm ent	-74	-3.0	-85	1	-11
Current receivables	100	182	577	449	-484
Current liabilities	-214	62	5	190	451
Operating cash flow	392	679	1,263	1,282	2,094

Net interest-bearing debt

	2007	2006	2006
SEK millio n	30 June	30 June	31 Dec
Debt to credit ins titutions	9,562	3,940	4,609
Provis ions for pens ions, interest-bearing	1,937	1,660	1,639
Less liquid funds	-843	-942	-673
Net interest-bearing debt	10,656	4,658	5,575

Changes to shareholders' equity

	2007	2006	2006
SEK millio n	30 June	30 June	31 Dec
Shareholders' equity – opening balance	6,005	5,381	5,381
Dividend distributed	-444	-404	-404
Dividend to m inority	–	–	-1
Change of reserve hedge accounting	-55	135	160
Change of m inority	–	–	-51
Translation differences	141	-197	-339
Net profit	463	457	1,259
Shareholders' equity – closing balance	6,110	5,372	6,005
Attributable to:
Parent com pany's shareholders	6,086	5,296	5,983
Minority interest	24	76	22
Total shareholders' equity	6,110	5,372	6,005

Key figures

	2007		2006 Change	2005	2007		2006 Change	2005	2006
	Q 2	Q 2		Q 2	6 Mon	6 Mon		6 mån	FY
Orders received, SEK m illion	4,203	3,355	25.3%	2,883	7,940	6,669	19.1%	5,767	13,316
adjusted for currency flucs.& corp.acqs			5.1%				2.7%
Net sales, SEK m illion	4,029	3,148	28.0%	2,739	7,444	6,123	21.6%	5,264	13,001
adjusted for currency flucs.& corp.acqs			6.6%				3.7%
EBITA before restructuring- and integration
costs	603	428	40.9%	359	1,080	794	36.0%	726	2,018
Restructuring and integration costs	70	1	6900.0%	–	120	47	155.3%	–	45
EBITA	533	427	24.8%	359	960	747	28.5%	726	1,973
EBITA m argin	13.2%	13.6%	-0.4%	13.1%	12.9%	12.2%	0.7%	13.8%	15.2%
Earnings per share after full tax, SEK	1.29	1.31	-1.5%	1.08	2.29	2.24	2.2%	2.16	6.21
Nm b of shares, thousands		201,874 201,874			201,874 201,874 201,874				201,874 201,874
Operating capital, SEK m illion					10,359	10,041	3.2%	8,740	10,217
Return on operating capital, per cent					16.9%	17.9%	-1.0%	18.9%	19.2%
Return on equity, per cent					21.6%	22.6%	-1.0%	26.1%	22.6%
Net debt/equity ratio, m ultiple					1.74	0.87	0.87	1.16	0.93
Interest cover, m ultiple					5.8	8.5	-2.7	7.9	9.0
Equity/assets ratio, per cent					27.4%	37.5%	-10.1%	33.0%	37.8%
Equity per share, SEK					30.15	26.23	14.9%	22.32	29.64
Num ber of em ployees at the period's end					10,495	7,382	42.2%	7,201	7,531

Companies acquired in 2007

Huntleigh Technology PLC.

During the first quarter of 2007, the Getinge Group acquired all of the shares in Huntleigh Technology PLC. Huntleigh operates in the areas of special wound-care mattresses, beds for intensive, specialist and geriatric care, compression products that prevent the occurrence of deep vein thromboses and facilitate the treatment of lymphodema and pressure sores, as well as equipment for embryonic and cardiocirculatory diagnostics.

At the time of the acquisition, the company's assets amounted to approximately SEK 2,400 million and its liabilities to SEK 1,000 million. The contractual purchase consideration for 100% of the shares amounted to approximately SEK 5,600 million. In the purchase price allocation, the surplus value of intangible and tangible assets was estimated at SEK 1,400 million.

Net sales in 2006 totalled approximately SEK 3,000 million, EBIT approximately SEK 390 million and the number of employees was approximately 2,700.

Huntleigh is consolidated as of February 2007.

Definitions

EBIT Operating profit EBITA Operating profit before amortisation of intangible assets identified in conjunction with corporate acquisitions.