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Getinge Interim / Quarterly Report 2025

Oct 21, 2025

2917_10-q_2025-10-21_81adaef6-1833-4b60-9c31-60e2a6ecd303.pdf

Interim / Quarterly Report

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Financial Report

Comments from Mattias Perjos, CEO

High organic sales growth and stronger margins despite geopolitical headwinds

We demonstrated strength in the third quarter with significant organic growth, improved profitability and cash flow – despite stronger headwinds from tariffs and negative currency effects. Acute Care Therapies continued to meet the higher demand for ventilators, in the wake of the ongoing market consolidation. Order intake and sales of ECLS consumables were also significant. Both Life Science and Surgical Workflows set sales records for the third quarter, mainly due to persistently robust growth in Sterile Transfer and the strong demand for operating tables in Surgical Workplaces.

One year has now passed since Paragonix became part of Getinge and the company is included organically from September. It is encouraging to see the organization's success at conducting business and we now look forward to increasing the pace of expansion initiated in selected markets outside the US.

During the quarter, we got the CE Mark back for our intra-aortic balloon pump Cardiosave and deliveries are expected to resume in the fourth quarter. Recently, also our V12 balloon expandable covered stent received approval for three further indications, which is key to strengthening our position in the European market.

Adjusted EBITA increased in the quarter, despite tariff costs and currency effects totaling SEK -236 M compared with last year. Our price adjustment strategy remains successful, but short term we need to absorb a large share of the tariff costs. However, intensified efforts to improve cost efficiency and boost productivity are generating results and in general, we are successfully keeping material cost development under control. In some product categories in Life Science, we have been able to reduce lead time and cost of goods sold significantly.

We are now entering a fourth quarter with tough comparative figures, but we are essentially well positioned to manage these geopolitical challenges by leveraging our leading position in key niches that meet long-term increasing healthcare needs on a global level. Considering the tariff levels to date, we have therefore chosen to reiterate our financial target.

Finally, I would like to thank all our customers and employees for their important efforts in creating value for clinical staff and patients.

July – September 2025 in brief

  • Net sales increased organically by 9.5% (0.2) and the order intake rose by 4.7% organically (7.4).
  • Adjusted gross profit amounted to SEK 4,051 M (3,799) and the margin was 49.2% (48.3).
  • Adjusted EBITA amounted to SEK 1,079 M (903) and the margin was 13.1% (11.5).
  • Adjusted earnings per share amounted to SEK 2.42 (2.24).
  • Free cash flow amounted to SEK 793 M (357).

January – September 2025 in brief

  • Net sales increased organically by 6.6% (3.0) and the order intake rose by 4.0% organically (5.9).
  • Adjusted gross profit amounted to SEK 12,570 M (11,805) and the margin was 50.7% (49.8).
  • Adjusted EBITA amounted to SEK 3,071 M (2,726) and the margin was 12.4% (11.5).
  • Adjusted earnings per share amounted to SEK 6.84 (6.45).
  • Free cash flow amounted to SEK 1,462 M (1,590).

Outlook 2025: Net sales for 2025 are expected to increase by 2–5% organically. (unchanged)

Summary of financial performance1)

Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
SEK M 2025 2024 2025 2024 2024
Order intake 8,477 8,486 25,470 24,959 34,232
Organic change, % 4.7 7.4 4.0 5.9 6.3
Net sales 8,226 7,870 24,783 23,688 34,759
Organic change, % 9.5 0.2 6.6 3.0 4.9
Adjusted gross profit 4,051 3,799 12,570 11,805 17,409
Margin, % 49.2 48.3 50.7 49.8 50.1
Adjusted EBITDA 1,501 1,343 4,353 4,014 6,646
Margin, % 18.2 17.1 17.6 16.9 19.1
Adjusted EBITA 1,079 903 3,071 2,726 4,869
Margin, % 13.1 11.5 12.4 11.5 14.0
Adjusted EBIT 986 821 2,776 2,528 4,549
Margin, % 12.0 10.4 11.2 10.7 13.1
Operating profit (EBIT) 952 184 2,418 1,769 2,854
Margin, % 11.6 2.3 9.8 7.5 8.2
Profit before tax 789 32 1,938 1,371 2,282
Net profit for the period 576 8 1,407 986 1,654
Adjusted net profit for the period 668 618 1,880 1,768 3,211
Margin, % 8.1 7.9 7.6 7.5 9.2
Adjusted earnings per share, SEK 2.42 2.24 6.84 6.45 11.73
Earnings per share, SEK 2.08 0.01 5.10 3.58 6.01
Cash flow from operating activities 1,084 680 2,395 2,538 4,577
Free cash flow 793 357 1,462 1,590 3,284
1) See page 3 for calculations of adjusted performance measures.
  1. See page 3 for calculations of adjusted performance measures.

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  • The organic order intake for Acute Care Therapies increased mainly due to ventilators in Critical Care and ECLS consumables.
  • Life Science reported double-digit growth in the organic order intake for the quarter due to the very strong performance in Sterile Transfer.
  • The organic order intake for Surgical Workflows declined in the quarter despite a strong trend for operating tables and consumables in Infection Control.
  • Geographically, the organic order intake trend was positive in both EMEA and Americas. It declined slightly in APAC, mainly due to higher order intake last year in Australia.
  • Acute Care Therapies increased its net sales organically, mainly due to the continued very strong performance in ventilators, ECLS therapy and Cardiac Surgery.
  • Organic net sales for Life Science reported a double-digit increase due to healthy growth in Sterile Transfer and WIS.
  • In Surgical Workflows, organic net sales rose due to growth in Infection Control and operating tables in Surgical Workplaces.
  • Positive organic growth in all regions, with particularly high growth in APAC and EMEA following the strong performance in for example China and Germany.
  • Recurring revenues increased in the quarter, with sales contributions from consumables in ECLS Therapy, Cardiac Surgery, Sterile Transfer and Vascular Interventions among others. Sales of capital goods also increased in the quarter, mainly attributable to ventilators and operating tables.
  • Net sales increased by SEK 356 M, corresponding to +4.5%.
  • Net sales from acquisitions had an impact of SEK +203 M, corresponding to +2.6%.
  • Exchange rates had an impact of SEK -596 M on sales, corresponding to -7.6%.
  • Successful efforts with price adjustments and volumes had an impact of SEK +749 M on sales, corresponding to +9.5%.

Group performance

Order intake

Order intakebusiness areas, SEK M Jul-Sep2025 Jul-Sep2024 Org∆,% Jan-Sep2025 Jan-Sep2024 Org∆,% Jan-Dec2024
Acute Care Therapies 4,375 4,238 6.5 13,682 12,797 6.6 17,719
Life Science 1,232 1,064 21.9 3,264 3,388 0.2 4,601
Surgical Workflows 2,869 3,183 -3.6 8,524 8,773 1.7 11,912
Total 8,477 8,486 4.7 25,470 24,959 4.0 34,232
Order intakeregions, SEK M Jul-Sep2025 Jul-Sep2024 Org ∆, % Jan-Sep2025 Jan-Sep2024 Org ∆, % Jan-Dec2024
Americas 3,781 3,807 2.8 11,634 11,071 4.5 15,188
APAC 1,615 1,835 -3.8 4,782 5,150 -1.8 7,031
EMEA 3,080 2,844 12.5 9,053 8,737 6.7 12,013
Total 8,477 8,486 4.7 25,470 24,959 4.0 34,232

Net sales

Net salesbusiness areas, SEK M Jul-Sep2025 Jul-Sep2024 Org∆,% Jan-Sep2025 Jan-Sep2024 Org ∆, % Jan-Dec2024
Acute Care Therapies 4,339 4,022 11.4 13,594 12,423 9.1 17,948
Life Science 1,097 1,003 15.9 3,171 3,060 7.8 4,552
Surgical Workflows 2,789 2,845 4.7 8,018 8,205 2.3 12,258
Total 8,226 7,870 9.5 24,783 23,688 6.6 34,759
Net salesregions, SEK M Jul-Sep2025 Jul-Sep2024 Org ∆, % Jan-Sep2025 Jan-Sep2024 Org ∆, % Jan-Dec2024
Americas 3,723 3,677 4.7 11,617 11,003 5.0 15,516
APAC 1,655 1,560 15.9 4,849 4,611 11.3 7,061
EMEA 2,848 2,633 12.4 8,317 8,074 6.0 12,182
Total 8,226 7,870 9.5 24,783 23,688 6.6 34,759
Net sales specified bycapital goods andrecurringrevenue, SEK M Jul-Sep2025 Jul-Sep2024 Org Δ, % Jan-Sep2025 Jan-Sep2024 Org ∆, % Jan-Dec2024
Capital goods 2,675 2,591 10.5 7,785 7,734 5.6 12,421
Recurring revenue 1) 5,551 5,279 9.1 16,999 15,954 7.0 22,338
Total 8,226 7,870 9.5 24,783 23,688 6.6 34,759

1) Consumables, service and spare parts

Net sales – bridge between Q3 2024 and Q3 2025

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  • Currency effects impacted adjusted gross profit by SEK -332 M and adjusted EBITA by SEK -128 M compared with last year.
  • The gross margin increased due to acquisitions, price adjustments and a favorable product mix.
  • Adjusted EBITA rose by SEK 176 M, despite tariff effects of approximately SEK -108 M and negative currency effects compared with last year. The margin improved by 1.6 percentage points.
  • Acquisition and restructuring costs are mainly related to the ongoing rationalizations in the organization.
  • Net financial items amounted to SEK-163 M, mainly as a result of higher net debt year-on-year.
  • The year-to-date tax rate was 27.4%.

Earnings trend

OFKM Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
SEKM 2025 2024 2025 2024 2024
Net sales 8,226 7,870 24,783 23,688 34,759
Adjusted gross profit 4,051 3,799 12,570 11,805 17,409
Margin, % 49.2 48.3 50.7 49.8 50.1
Adjusted operating expenses -2,550 -2,456 -8,217 -7,792 -10,764
Adjusted EBITDA 1,501 1,343 4,353 4,014 6,646
Margin, % 18.2 17.1 17.6 16.9 19.1
Depreciation, amortization and write-downs of
intangible assets and tangible assets 1) -422 -440 -1,282 -1,288 -1,776
Adjusted EBITA 1,079 903 3,071 2,726 4,869
Margin, % 13.1 11.5 12.4 11.5 14.0
Α Amortization and write-down of acquired
intangible assets 1) -93 -82 -294 -198 -320
Adjusted EBIT 986 821 2,776 2,528 4,549
Margin, % 12.0 10.4 11.2 10.7 13.1
В Acquisition and restructuring costs -33 -155 -359 -276 -898
С Other items affecting comparability 2) - -482 - -482 -797
Operating profit (EBIT) 952 184 2,418 1,769 2,854
Net financial items -163 -152 -480 -398 -571
Profit before tax 789 32 1,938 1,371 2,282
Adjusted profit before tax
(adjusted for A, B and C) 916 751 2,591 2,328 4,298
Margin, % 11.1 9.5 10.5 9.8 12.4
Taxes -214 -24 -531 -385 -628
D Tax on adjustment items 2) -35 -109 -180 -175 -459
Adjusted net profit for the period (adjusted for A, B, C and D) 668 618 1,880 1,768 3,211
Margin, % Of which, attributable to Parent Company 8.1 7.9 7.6 7.5 9.2
shareholders 658 611 1,863 1,756 3,195
Average number of shares, thousands 272,370 272,370 272,370 272,370 272,370
Adjusted earnings per share, SEK (adjusted for A, B, C and D) 2.42 2.24 6.84 6.45 11.73
· ·

1) Excluding items affecting comparability (see Note 4 Depreciation, amortization and write-downs).

Adjusted EBITA per business area1)

SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Acute Care Therapies 763 637 2,624 2,247 3,554
Margin, % 17.6 15.8 19.3 18.1 19.8
Life Science 141 101 318 315 608
Margin, % 12.9 10.1 10.0 10.3 13.4
Surgical Workflows 263 251 453 420 1,090
Margin, % 9.4 8.8 5.6 5.1 8.9
Group functions and other (incl. eliminations) -89 -86 -323 -256 -383
Total 1,079 903 3,071 2,726 4,869
Margin, % 13.1 11.5 12.4 11.5 14.0

1) See Note 4 Depreciation, amortization and write-downs and Note 6 Adjustment items for other items affecting comparability.

Adjusted EBITA – bridge between Q3 2024 and Q3 2025

  • Life Science's adjusted EBITA increased by SEK 40 M and the margin by 2.8 percentage points.
  • Adjusted EBITA for Surgical Workflows rose by SEK 12 M and the margin by 0.6 percentage points.
  • Costs in Group functions and other were largely unchanged year-on-year.

2) See Note 6 Adjustment items

Adjusted EBITA for Acute Care Therapies rose by SEK 126 M and the margin increased by 1.8 percentage points.

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  • Adjusted operating expenses for selling and administration increased organically by 4.0%, mainly due to higher sales activities. Inorganically, these expenses increased by 2.2%.
  • The year-on-year difference for other operating income and expenses was mainly attributable to currency effects related to operating receivables and liabilities in foreign currency.
  • Exchange-rate fluctuations, meaning translation and transaction effects, impacted adjusted gross profit by SEK -332 M compared with last year, of which SEK -233 M in translation effects and SEK -99 M in transaction effects and hedging outcome.
  • The change in adjusted EBITA attributable to currency effects was SEK -128 M, of which SEK -66 M arose from translation effects and SEK -62 M from the net of transaction effects, hedging outcome, and revaluation of operating receivables and liabilities in foreign currency.
  • Compared with last year, free cash flow was positively impacted by higher operating profit. Working capital increased, but to a lesser extent compared with the third quarter last year, due to, for example, lower inventories.
  • The financial position remains solid, although net interest-bearing debt has increased after the acquisition of Paragonix Technologies, Inc.

Adjusted operating expenses

(excluding depreciation, amortization and write-downs and other items affecting comparability)1)

Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
SEK M 2025 2024 2025 2024 2024
Selling expenses -1,256 -1,242 -3,978 -3,941 -5,355
Administrative expenses -990 -955 -3,100 -3,005 -4,240
Research and development costs -286 -302 -913 -935 -1,332
Other operating income and expenses -17 44 -226 90 164
Total -2,550 -2,456 -8,217 -7,792 -10,764

1) See Note 4 Depreciation, amortization and write-downs and Note 6 Adjustment items for other items affecting comparability.

Currency impact

Jul-Sep Jan-Sep
SEK M 2025 2025
Net sales -596 -1,193
Adjusted gross profit -332 -633
Adjusted EBITDA -148 -412
Adjusted EBITA -128 -369
Adjusted EBIT -124 -363

Cash flow and financial position1)

Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
SEK M 2025 2024 2025 2024 2024
Cash flow before changes in working capital 1,141 801 3,327 2,931 5,036
Changes in working capital2) -56 -120 -932 -393 -459
Net investments in non-current assets -292 -323 -933 -948 -1,294
Free cash flow 793 357 1,462 1,590 3,284
Net interest-bearing cash/debt 11,061 11,284 10,467
In relation to adjusted EBITDA1) R12M,multiple 1.6 2.0 1.6
Net interest-bearing cash/debt, excl.pension provisions 8,582 8,627 7,766
In relation to adjusted EBITDA1) R12M,
multiple 1.2 1.5 1.2

1) See Note 6 Adjustment items for items affecting comparability and Note 8 for alternative performance measures.

Costs for R&D were 5.4% lower yearon-year.

  • Capitalized development costs were 6.4% lower compared with last year.
  • The year-on-year difference was mainly due to lower costs for qualityrelated improvements.
  • Depreciation and write-downs amounted to SEK -98 M (-102), of which write-downs SEK -4 M (0).

Research and development

SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Research and development costs -434 -459 -1,407 -1,434 -1,992
Amortization, depreciation and write-downs -21 -17 -55 -50 -99
Research and development costs, gross -454 -476 -1,462 -1,484 -2,091
In relation to net sales, % 5.5 6.0 5.9 6.3 6.0
Capitalized development costs 147 157 494 499 660
In relation to net sales, % 1.8 2.0 2.0 2.1 1.9
Research and development costs, net -307 -319 -968 -985 -1,431
Amortization and write-down of capitalizeddevelopment costs1) -98 -102 -297 -293 -707

1) Capitalized development projects

2) Non-cash financial items were reclassified to operating liabilities for the 2024 comparative figures.

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  • CO2 emission has decreased, mainly due to a higher share of renewable electricity and gas.
  • Water consumption is mainly related to facilities management and testing in production of washers and sterilizers and varies over time depending on production volume. The outcome showed a rising trend due to higher degree of testing in production and increase in water for facilities at one of our sites.
  • The employee engagement index was updated with the results of the survey in Q2 2025. The score was 73, up 2 points compared with the previous survey, reflecting a positive trend in engagement. This resulted in an outcome of 72 on a rolling 12 months basis.
  • It was discovered in the reporting process that data for WRAR had been incorrectly reported. The error affected the number of hours worked and has been corrected. Action has been taken to reduce the risk of errors occurring in the future. The previously reported figure for WRAR for the full-year 2024 was 0.92 and this has now been corrected to 0.99.
  • The regulatory compliance KPI improved compared with the fullyear 2024 since the first quarters of 2024 included a higher number of audit findings per audit.
  • The KPI for product quality was based on the number of new field actions.
  • The positive trend for online customer training was maintained.
  • A positive trend over time for the business ethics KPI.
  • As noted in the 2024 Sustainability Report, the genders of the employees in Paragonix were not correctly registered. This has been updated from the Q2 report.
  • KPIs for Q1 2025 and beyond have been adjusted. Water consumption has been added. Sick leave has been replaced with work-related accidents in relation to working hours (Work Related Accident Rate, WRAR) The KPIs for waste and for workers in the value chain are presented every year in the Sustainability Report but are not reported every quarter.
  • CO2 and energy data for the companies Ultra Clean, Healthmark and Paragonix is not included in the ongoing quarterly reporting since these companies were acquired less than 24 months ago. Full-year figures for these companies, and for Quadralene, will be reported in the 2025 Sustainability Report.

Sustainability developments

This interim report reflects Getinge's double materiality assessment and is based on the ESRS structure to present the company's impact, risks and opportunities from a social, environmental and governance perspective. The aim is to continuously work to minimize the negative impact on people and the environment and to generate sustainable value for customers, employees and other stakeholders.

Key areas R12 Sep20251) R12 Sep20241) Δ, %2) Jan-Dec2024 Δ, %3)
Environment, Climate & Energy
Scope 1 & 2 GHG emissions in production,ton CO2 equivalents7) 3,656 4,841 -24.5 4,163 -12.2
Total energy consumption in production,MWh7) 76,439 78,805 -3.0 77,117 -0.9
Percentage of renewable energy of totalenergy, %7) 74 66 8.0* 70 4.0*
Water consumption in sites located in waterscarce areas, m3 4) 100,737 87,802 14.7 93,115 8.2
Social
Own workforce
Employee engagement, %5) 72 71 1.0* 71 1.0*
Percentage of female employees, %6) 37.9 37.2 0.7* 37.7 0.2*
Percentage of female managers, %6) 34.3 33.9 0.4* 34.5 -0.2*
Work Related Accident Rate, WRAR 0.85 0.88 -3.0 0.99 -13.8
Consumers and end-users
Regulatory compliance, audit findings peraudit for quality systems7,8) 1.6 2.2 -27.9 2.5 -37.8
Product quality, field actions per SEK billionin net revenue7) 1.1 1.4 -23.9 1.2 -10.0
Online customer training7) 50,862 46,047 10.5 48,486 4.9
Governance
Business ethics
Percentage of employees who completedtraining in business ethics, % 92 90 2.0* 90 2.0*
  • *) Change in percentage points
    1. R12 = Rolling 12 months
    1. Index R12 Sep 2025/R12 Sep 2024
    1. Index R12 Sep 2025/Jan-Dec 2024
    1. Eight manufacturing sites were in the scope of the 2024 Sustainability Report. A more detailed investigation has revealed that one of these sites was outside the area of water stress defined as "high" and "extremely high" by the WRI Water Risk Atlas tool Aqueduct. Accordingly, this site is no longer included in the reporting. The annual and quarterly figures have been adjusted and will also be updated retroactively in the 2025 Sustainability Report.
    1. Measured and updated every six months
    1. Amount at end of period
    1. Data was recalculated in 2024. See Getinge's 2024 Sustainability Report for more details
    1. Getinge has updated the reporting of its results to better reflect the timing of audit reports, which means that data is reported with a delay of one quarter.

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Acute Care Therapies

Acute Care Therapies offers world-leading solutions for life support in acute health conditions. The offering includes solutions for cardiovascular procedures, efficient handling of organs for transplantation and a broad selection of products and therapies for intensive care.

  • The organic order intake for Acute Care Therapies increased, mainly due to ventilators in Critical Care and ECLS consumables.
  • Geographically, the organic order intake increased in all regions following growth in almost all countries.
  • Acute Care Therapies increased its net sales organically, mainly due to the continued very strong performance in ventilators, ECLS therapy and Cardiac Surgery.
  • Sales increased organically in all regions, with a particularly favorable performance continuing in EMEA.
  • Recurring revenue noted a strong organic performance, with contributions from both consumables and service. Capital goods also increased organically.
  • The adjusted gross margin improved by 1.8 percentage points, largely due to higher volumes, price and favorable product mix.
  • Adjusted selling and administrative expenses increased organically by 6.2%, mainly as a result of higher sales activities. Inorganically, these expenses rose by 7.9%.
  • Adjusted EBITA increased by SEK 126 M due to volumes and a favorable product mix despite tariffs and negative currency effects. The margin increased by 1.8 percentage points.
  • Currency effects impacted sales by SEK -343 M, adjusted gross profit by SEK -215 M and adjusted EBITA by SEK -97 M compared with last year.

Order intake and net sales

Order intake Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
regions, SEK M 2025 2024 Org Δ, % 2025 2024 Org Δ, % 2024
Americas 2,261 2,125 6.5 7,380 6,480 9.1 9,120
APAC 964 972 8.1 2,785 2,805 5.0 3,897
EMEA 1,150 1,141 5.1 3,516 3,512 3.1 4,702
Total 4,375 4,238 6.5 13,682 12,797 6.6 17,719
Net salesregions, SEK M Jul-Sep2025 Jul-Sep2024 Org Δ, % Jan-Sep2025 Jan-Sep2024 Org Δ, % Jan-Dec2024
Americas 2,289 2,103 8.9 7,357 6,470 8.9 9,223
APAC 922 915 10.6 2,837 2,748 9.3 3,983
EMEA 1,128 1,004 17.2 3,400 3,205 9.2 4,742
Total 4,339 4,022 11.4 13,594 12,423 9.1 17,948
Net sales specified bycapital goods andrecurringrevenue, SEK M Jul-Sep2025 Jul-Sep2024 Org Δ, % Jan-Sep2025 Jan-Sep2024 Org Δ, % Jan-Dec2024
Capital goods 890 870 11.8 2,873 2,719 11.9 4,318
Recurring revenue1) 3,449 3,152 11.2 10,722 9,704 8.3 13,631
Total 4,339 4,022 11.4 13,594 12,423 9.1 17,948

1) Consumables, service and spare parts

Earnings trend1)

Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
SEK M 2025 2024 2025 2024 2024
Net sales 4,339 4,022 13,594 12,423 17,948
Adjusted gross profit 2,456 2,205 7,951 7,193 10,417
Margin, % 56.6 54.8 58.5 57.9 58.0
Adjusted EBITDA 972 867 3,271 2,922 4,474
Margin, % 22.4 21.6 24.1 23.5 24.9
Depreciation, amortization and write-downs of
intangible assets and tangible assets -209 -231 -647 -675 -920
Adjusted EBITA 763 637 2,624 2,247 3,554
Margin, % 17.6 15.8 19.3 18.1 19.8

1) See Note 4 Depreciation, amortization and write-downs and Note 6 Adjustment items for other items affecting comparability.

Events in the business area in the quarter

  • Getinge received the CE Mark back for Cardiosave Intra-Aortic Balloon Pump. The reinstatement is subject to certain conditions, which Getinge is committed to fulfilling.
  • Getinge and Philips have joined forces to offer hospitals in CE markets an integrated anesthesia workstation for the operating room (OR). The new solution unites precise anesthesia delivery and state-of-the-art patient monitoring.
  • Further progress was made in EU MDR certification. The most recent milestone was approval of further indications for our V12 balloon expandable covered stents. The approval of three different indicators (BEVAR, FEVAR and IBD) represents a key enabler for growth in the European endovascular market.

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Life Science

Life Science offers a comprehensive range of equipment, technical expertise and consultation to prevent contamination in pharmaceutical and medical device production and with the aim to strengthen integrity of results in biomedical research.

  • Life Science reported double-digit growth in the organic order intake for the quarter due to the very strong performance in Sterile Transfer.
  • The trend in Bio-Processing remained weak, with a particularly challenging situation in Americas.
  • Both EMEA and APAC reported double-digit growth for their organic order intake following a positive trend in most product categories.
  • Organic net sales for Life Science reported a double-digit increase due to healthy growth in Sterile Transfer and WIS.
  • Organic sales increased substantially in APAC and EMEA, but declined in Americas due to Bio-Processing.
  • Capital goods increased in all product categories in the quarter. The trend in recurring revenue was also favorable, driven by strong growth in Sterile Transfer and a continued positive performance in Service.
  • The adjusted gross margin declined by 2.0 percentage points, mainly due to tariffs and currencies.
  • Adjusted selling and administrative expenses declined organically by 3.6% due to a continued focus on productivity. Inorganically, these expenses fell by 8.8%.
  • Adjusted EBITA rose by SEK 40 M and the margin increased by 2.8 percentage points.
  • Currency effects impacted sales by SEK -65 M, adjusted gross profit by SEK -31 M and adjusted EBITA by SEK - 9 M compared with last year.

Order intake and net sales

Order intakeregions, SEK M Jul-Sep2025 Jul-Sep2024 Org Δ, % Jan-Sep2025 Jan-Sep2024 Org Δ, % Jan-Dec2024
Americas 414 534 -16.3 1,124 1,455 -18.6 1,862
APAC 145 120 30.7 399 415 1.5 573
EMEA 673 410 69.2 1,742 1,518 17.8 2,166
Total 1,232 1,064 21.9 3,264 3,388 0.2 4,601
Net sales Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
regions, SEK M 2025 2024 Org Δ, % 2025 2024 Org Δ, % 2024
Americas 391 443 -4.0 1,179 1,349 -7.8 1,937
APAC 192 142 45.0 438 340 35.7 559
EMEA 514 418 27.0 1,553 1,371 16.3 2,057
Total 1,097 1,003 15.9 3,171 3,060 7.8 4,552
Net sales specified bycapital goods andrecurringrevenue, SEK M Jul-Sep2025 Jul-Sep2024 Org Δ, % Jan-Sep2025 Jan-Sep2024 Org Δ, % Jan-Dec2024
Capital goods 460 376 29.2 1,274 1,191 11.1 1,970
Recurring revenue1) 638 627 7.8 1,897 1,868 5.7 2,582
Total 1,097 1,003 15.9 3,171 3,060 7.8 4,552

1) Consumables, service and spare parts

Earnings trend1)

Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
SEK M 2025 2024 2025 2024 2024
Net sales 1,097 1,003 3,171 3,060 4,552
Adjusted gross profit 401 386 1,208 1,191 1,808
Margin, % 36.5 38.5 38.1 38.9 39.7
Adjusted EBITDA 197 154 484 471 818
Margin, % 18.0 15.3 15.3 15.4 18.0
Depreciation, amortization and write-downs of
intangible assets and tangible assets -56 -53 -167 -156 -211
Adjusted EBITA 141 101 318 315 608
Margin, % 12.9 10.1 10.0 10.3 13.4

1) See Note 4 Depreciation, amortization and write-downs and Note 6 Adjustment items for other items affecting comparability.

Events in the business area in the quarter

A steadfast focus on productivity resulted in further efficiency improvements. For example, the lead time for GSS/GEV sterilizers has been reduced by more than 20% and COGS for certain capital goods in WIS by about 10%.

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Surgical Workflows

Surgical Workflows offers products and solutions to serve as an end-to-end partner for optimizing the quality, safety and capacity usage of the sterile supply departments and operating rooms.

  • The organic order intake for Surgical Workflows declined in the quarter, despite a strong trend for operating tables and consumables in Infection Control. The decline was primarily attributed to capital goods in Infection Control.
  • Growth remained high in North America. APAC had challenging comparative figures for Australia and Japan. The development was however positive in China.
  • In Surgical Workflows, organic net sales rose due to growth in Infection Control and operating tables in Surgical Workplaces.
  • Geographically, APAC reported strong growth in all product categories. EMEA also performed well, while sales in the Americas were largely unchanged.
  • There was solid growth in both recurring revenue and capital goods in the quarter.
  • The adjusted gross margin increased by 0.3 percentage points, primarily as a result of price and volumes, while tariffs and inflation negatively impacted the margin.
  • Adjusted selling and administrative expenses increased organically by 2.3%, as a result of higher sales activities. Inorganically, these expenses fell by 3.8%.
  • Adjusted EBITA rose by SEK 12 M and the margin strengthened by 0.6 percentage points, mainly due to higher gross profit.
  • Currency effects impacted sales by SEK -188 M, adjusted gross profit by SEK -85 M and adjusted EBITA by SEK -24 M compared with last year.

Order intake and net sales

Order intakeregions, SEK M Jul-Sep2025 Jul-Sep2024 Org Δ, % Jan-Sep2025 Jan-Sep2024 Org Δ, % Jan-Dec2024
Americas 1,106 1,148 4.9 3,130 3,135 5.7 4,206
APAC 506 742 -25.0 1,598 1,931 -12.4 2,561
EMEA 1,257 1,293 1.2 3,796 3,707 5.6 5,145
Total 2,869 3,183 -3.6 8,524 8,773 1.7 11,912
Net salesregions, SEK M Jul-Sep2025 Jul-Sep2024 Org Δ, % Jan-Sep2025 Jan-Sep2024 Org Δ, % Jan-Dec2024
Americas 1,043 1,131 0.3 3,081 3,183 2.4 4,356
APAC 540 503 17.5 1,575 1,523 9.5 2,519
EMEA 1,206 1,211 3.4 3,363 3,499 -0.9 5,383
Total 2,789 2,845 4.7 8,018 8,205 2.3 12,258
Net sales specified bycapital goods andrecurringrevenue, SEK M Jul-Sep2025 Jul-Sep2024 Org Δ, % Jan-Sep2025 Jan-Sep2024 Org Δ, % Jan-Dec2024
Capital goods 1,325 1,345 4.3 3,638 3,824 -0.6 6,133
Recurring revenue1) 1,465 1,500 5.0 4,380 4,382 4.8 6,125
Total 2,789 2,845 4.7 8,018 8,205 2.3 12,258

1) Consumables, service and spare parts

Earnings trend1)

Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
SEK M 2025 2024 2025 2024 2024
Net sales 2,789 2,845 8,018 8,205 12,258
Adjusted gross profit 1,194 1,208 3,410 3,422 5,185
Margin, % 42.8 42.5 42.5 41.7 42.3
Adjusted EBITDA 419 406 915 870 1,728
Margin, % 15.0 14.3 11.4 10.6 14.1
Depreciation, amortization and write-downs of
intangible assets and tangible assets -155 -155 -463 -450 -638
Adjusted EBITA 263 251 453 420 1,090
Margin, % 9.4 8.8 5.6 5.1 8.9

1) See Note 4 Depreciation, amortization and write-downs and Note 6 Adjustment items for other items affecting comparability.

Events in the business area in the quarter

Sweden's first fully automated Central Sterile Supply Department (CSSD) at Malmö University Hospital has been inaugurated, with Getinge's T-DOC providing the software intelligence that optimizes sterile supply management. By enhancing quality, patient safety, cost efficiency and the human work environment, T-DOC is a critical enabler of successful CSSD optimization. The facility is set to be fully operational in early 2026. Since pioneering the world's first automated CSSD in 2011, T-DOC has been implemented in several sterile supply automation projects across Europe and Asia, strengthening its role as a leader in CSSD optimization.

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Other information

Events after the end of the reporting period

There are no significant events to report.

Seasonal variations

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

Transactions with related parties

Getinge carried out normal commercial transactions with companies in the Carl Bennet AB sphere, which comprised the sale and purchase of goods and services. In addition, no other significant transactions with related parties occurred during the period other than transactions with subsidiaries.

Forward-looking information

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

Getinge's financial targets 2024–2028 and dividend policy

  • Average adjusted earnings per share growth: >12%*
  • Getinge's dividend policy is to pay dividends of 30-50% of net profit to shareholders.

Getinge's sustainability targets

Environment

  • Reduce Scope 1 and 2 emissions by 90% by 2030**
  • Reduce Scope 3 emissions by 25% by 2030, and by 90% by 2050**
  • Reduce energy consumption in production by 20% by 2030**
  • Reduce water consumption in sites located in water scarce areas by 20% by 2030**
  • No waste to landfill by 2030, excluding material required by local regulations to be landfilled

Social

  • Employee engagement: >70%
  • Reduce work-related accidents in relation to working hours (Work Related Accident Rate, WRAR) to less than 1 by 2025
  • Ensure equal employment opportunity and non-discrimination across all levels of the organization Follow-up % female vs male managers and employees
  • Quality regulatory compliance, audit results/inspection: <1.5 deviation

Governance

All employees are properly trained in Business ethics

*Base year 2023

** Base year 2021

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Nomination Committee ahead of 2026 Annual General Meeting

Ahead of the Annual General Meeting, the Nomination Committee shall, in accordance with the principles adopted at the 2020 Annual General Meeting, be composed of members appointed by the four largest shareholders in terms of voting rights, based on a list of owner-registered shareholders from Euroclear Sweden AB or other reliable ownership information, as of August 31 of each year, and the Chairman of the Board of Directors. In addition, if the Chairman of the Board in consultation with the member appointed by the largest shareholder in terms of voting rights deems it appropriate, it shall include an, in relation to the company and its major shareholders, independent representative of the minority shareholders as a member of the Nomination Committee.

Getinge's Nomination Committee ahead of the 2026 Annual General Meeting has been appointed and comprises the company's Chairman Johan Malmquist, and representatives from the following owners, listed by size.

  • Carl Bennet AB: Carl Bennet, Chairman of the Nomination Committee
  • Fourth Swedish National Pension Fund: Jannis Kitsakis
  • AMF Pension & Fonder: Sophie Larsén
  • Carnegie fonder: Anna Strömberg

Shareholders who wish to submit proposals to Getinge's 2026 Nomination Committee can contact the Nomination Committee by e-mail at [email protected] or by mail to the following address: Getinge AB, Att: Nomination Committee, Box 8861, SE-402 72 Gothenburg, Sweden. Proposals must be received by the Nomination Committee no later than January 16, 2026 in order to ensure that they are addressed by the Committee.

2026 Annual General Meeting

Getinge AB's Annual General Meeting will be held on April 21, 2026 in Halmstad, Sweden. Shareholders who wish to have a matter addressed at the Annual General Meeting may submit their proposal to Getinge's Board Chairman via e-mail: [email protected], or by mail to the following address: Getinge AB, Att: Bolagsstämmoärenden, Box 8861, SE-402 72 Gothenburg, Sweden. To ensure inclusion in the notice and the agenda of the AGM, proposals must be received by the company no later than March 3, 2026.

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Risk management

External risks

Description Potential consequences Management
External shocks,such as geopoliticalrisks, naturaldisasters, terrorism,pandemics, etc. Rapidly emerging situations, whichcould affect large geographical areas,a single country, a region or a specificfacility. The primary risk of such events isthat employees could be injured. Inaddition, operations can bedisrupted, which could have anegative impact on sales andearnings. Price increases forcustomers is another scenario. Active business intelligence can identify some of these risks at an early stage, whichenables the Group to adapt to the changed circumstances. The Group is workingactively on continuity risks. This also includes scenarios based on external shocksas part of Getinge's proactive risk management.Getinge conducts operations in Russia in accordance with international sanctionsand regulations via a small sales company. The activities in the country arecurrently limited to fulfilling existing customer commitments. However, thecircumstances for conducting operations in the country have graduallydeteriorated. Getinge does not conduct any manufacturing operations in eitherRussia or Ukraine and has no major suppliers in these countries. When Russiainvaded Ukraine in 2022, the Group's sales in Russia and Ukraine represented lessthan 1% of the Group's total net sales and equity. Despite the limited direct impactthat the invasion has had on Getinge's operations in Russia and Ukraine, theRussian invasion of Ukraine may nevertheless have a negative impact on thedevelopment of the Group's earnings and position. However, it is difficult at thecurrent time to assess the future consequences of the conflict and its impact onthe Group.Getinge is monitoring and actively adapting its operations based on escalatingdevelopments in spring 2025 regarding higher trade barriers, such as tariffs. TheGroup has a good overview of its supply chain and thus also the impact of tariffs
and other trade barriers. Getinge has a geographically diversified purchasing andproduction strategy which partly can help to mitigate any negative consequences.
Interruptions insupply chains /dependence onexternal suppliers Critical components manufacturedby external suppliers are a vital partof Getinge's production chain.Serious production disruptionsmay arise if these components arenot supplied on schedule. As a consequence, vital equipment maynot be delivered to customers, whichmay make it difficult or impossible toprovide necessary healthcare. Getinge can state that there is a risk of temporary business interruptions, forexample, due to supply constraints for key components such as semiconductors,as a result of the uncertain global security situation.Getinge actively monitors critical suppliers, starting as early as when thepartnership is established and continuing with routine evaluations. ThePurchasing organization has tools for assessing risk and receives regular trainingin this area. The Group also works on ensuring that it has adequate levels ofcritical components in stock, in its own operations or with the relevant supplier.Interruptions of critical deliveries are managed as an important part of activitiesrelated to business continuity risks. See "Business interruptions."
Risks related tohealthcarereimbursementsystems Political decisions can change theconditions for healthcare throughchanged reimbursement models forhealthcare providers. Changes to reimbursement systemscould have significant effects onspecific markets, with budget cuts ordeferred funding potentially impactingthe operations. Although it is difficult to influence this risk directly, since decisions are outside theGroup's control, it is mitigated by the presence in a large number of markets,which reduces the overall impact of individual changes.
New competitorsand newtechnologies Certain markets and productsegments have niche players whooffer solutions outside customarymarket behavior. These competitors could capturemarket shares from establishedcompanies, including Getinge, whichcould result in lower sales andearnings. Through continuous innovative development and market analysis, Getinge strivesto be at the forefront, identify potential competitors and adapt to technologicalchanges. The industry is also considered to have high barriers to entry sincemedical devices are subject to extensive regulatory requirements.
Increasedexpectations andnew laws andregulationsrelated tosustainability The sustainability requirements andexpectations placed on Getinge as acompany are changing, and the scopeis increasing rapidly. Getinge's failure to meet the ever-morestringent environmental, social andgovernance requirements could havenegative consequences on thecompany's reputation, operations andfinancial earnings. It may also impactthe company's ability to recruit andretain competent staff, and riskdisqualifying the company fromparticipating in tenders with specificrequirements. By engaging with stakeholders and improving its materiality assessment and ERMprocess, Getinge increases its understanding of the expectations placed on thecompany. It is also beneficial that the company has adopted the focus areas thatare to be prioritized moving forward. In addition, the company has developed itssustainability framework, focusing on the products and solutions placed on themarket to ensure quality and corporate responsibility. This also leads to employeeengagement. The company reports annually on its performance in sustainability ina transparent manner and is making preparations ahead of the forthcoming CSRD.
Increasingcompetition forpublic funds Reduced public budgets for investingin medical devices impacts the totalmarket potential. Increased competition for limitedpublic funds may lead to reducedfunding for medical device investments,which in turn negatively impactsGetinge's sales figures. Getinge works actively to offer solutions that improve the efficiency of healthcare,which is believed to generate healthy demand even where budgets areconstrained.

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Operational risks

Description Potential consequences Management
Quality risks from aregulatoryperspective A large part of Getinge's product rangeis subject to strict legislation requiringextensive assessments, qualitycontrols and detailed documentation. It cannot be ruled out that Getinge'soperations, financial position andearnings may be negatively impacted inthe future if the company is unable tocomply with regulatory requirements orif these requirements change. To limit these risks, Getinge conducts extensive quality and regulatory activities.The Quality Compliance, Regulatory & Medical Affairs function has arepresentative in the Getinge Executive Team and also on the management teamsof each business area, and in all R&D and production units. In addition, Getinge'ssales force and service technicians receive quality and regulatory training everyother year, and then have their certification renewed, which is a requirement forrepresenting the company.Getinge conducts extensive research and development to ensure that the productportfolio meets all existing and future quality and regulatory requirements.The majority of the production facilities have ISO 13485 and/or ISO 9001certification. In summary, Getinge invests significant resourcesin quality and regulatory matters, which is a top priority of the Group's strategy.As previously reported in the first quarter of 2023, the notifying body TÜV SÜDdecided to temporarily suspend the CE certificate for Getinge's HLS and PLS setsfor ECLS therapy and for Getinge's intra-aortic balloon pumps. As a result, thecompany initiated corrective actions to regain CE certification for these products.At the end of September 2024, TÜV SÜD reinstated Getinge's CE certificate for HLSand PLS sets, with certain conditions. The temporary suspension of Getinge'sCardiosave Intra-Aortic Balloon Pump, effective from March 2024, was extendeduntil July 1, 2025. At the beginning of August 2025, TÛV SÛD reinstated Getinge'sCE mark under certain conditions which Getinge has promised to fulfill. On May 8,2024, the FDA sent a letter to healthcare providers in the US. The letter does notrefer to any new field actions, but healthcare providers are encouraged to movefrom using Getinge's Cardiosave, Cardiohelp and HLS sets to alternative productsand to continue to use Getinge's products only if no other options are available. Asa result of the FDA's letter, Getinge has decided to suspend marketing activities forthe relevant products in the US until outstanding actions related to qualityimprovements have been taken and approved. Sales of these products arerestricted to customers who do not have any other alternatives.On November 15, 2024, the FDA published a Letter to Health Care Providers on itswebsite, reminding them of the voluntary medical device removal and supplyconcerns related to all of Getinge's VasoView Hemopro Endoscopic VesselHarvesting (EVH) Systems. Actions are being taken as agreed with the FDA.
Product quality froma customerperspective In certain cases, Getinge's products donot meet customer expectations. Product quality shortcomings couldlead to customer seeking outalternative suppliers, which in turncould negatively impact sales andprofitability over time. Getinge applies a far-reaching quality process to ensure a high and even level ofquality, which is an ongoing process that results in continuous improvements.When quality fails, it is important to rapidly rectify the fault during the first servicevisit. Getinge closely monitors the "first-time fix" factor of its services operationsand works actively to make improvements.
Product liability risks Healthcare suppliers run a risk, likeother players in the healthcareindustry, of being subject to productliability and other legal claims. Such claims can involve large amountsand significant legal expenses. Getingecarries the customary indemnity andproduct liability insurances, but there isa risk that this insurance coverage maynot fully cover product liability andother claims. The most important way of managing these risks is the extensive quality-relatedand regulatory activities performed by the Group. Sources of potential futureclaims for damages are monitored through active incident reporting. Correctiveand protective action (CAPA) is initiated when necessary to investigate theunderlying cause, after which the product design may be corrected to remedy thefault.The settlement process regarding the Multidistrict Litigation (MDL) for surgicalmesh implants, which Getinge announced previously, has been completed andpayment of the majority of the settlement amount was made in the first quarter of2023. The settlement is not an admission of liability or wrongdoing by the company.Getinge will continue to defend against any litigation that cannot be resolvedunder the final agreement. Costs for such processes are not expected to bematerial.
Information and datasecurity Leaks of confidential information orhacking into the Group's IT systemresulting in restricted availability orinterruptions of business-criticalsystems. In this context, extortion orsabotage cannot be excluded either. Hacking into IT systems could lead tobusiness interruptions. A loss ofsensitive information may adverselyaffect confidence in the company.Leaks of personal data could lead tohigh fines. Getinge has global IT services that ensure efficiency, coordination and security.Getinge's IT structure in production is largely decentralized, which reduces theconsequences of certain cyber risks by spreading the risks across differentsystems. Getinge has centralized identity management and conducts extensivesurveillance and monitoring of the central infrastructure to quickly detect andcounteract security threats via its security operations center (SOC). Getingeregularly trains all employees to reduce cyber risks based on human factors.
Deficiencies incybersecurity Security deficiencies in the Group'sdigital offering, such as connectedmachines at customer sites andstricter legal requirements forprocessing personal data. In thiscontext, extortion or sabotage cannotbe excluded either. Restricted availability of equipmentdelivered by Getinge to its customers,which could result in interruptions tothe hospital operations and it not beingpossible to offer patients sufficient carein critical situations. Getinge works diligently and systematically, following a risk-based approach, toensure the integrity of its connected equipment. By continuously evaluating andprioritizing security risks, we can effectively protect both our systems and ourcustomers' data. Comprehensive access testing is carried out before thesesolutions are offered to the Group's customers so as to identify and rectifypotential vulnerabilities.
Businessinterruptions Unforeseen events, such as naturaldisasters or fires, etc. can causedisruptions to production or thesupply chain. Such events may result in costly ordelayed deliveries or non-delivery ofproducts to Getinge's customers, whichmay adversely affect the Group'searnings. Getinge takes continuous preventive action to ensure a high level of availabilityand delivery reliability, including regular inspections of the production facilitieswith the help of external expertise.
Non-compliance withlaws and regulationsmainly on businessethics Breaches of laws and regulationsrelated to, for example, competition,anti-corruption, AI, cyber security,data protection or trade restrictions. Breaches of these regulations could leadto fines, sanctions and have a negativeimpact on the Getinge brand. Getinge has previously provided information about ongoing investigations andagreements with the authorities regarding anti-competitive procedures in the saleof medical devices in Brazil. The process with the Brazilian federal authority,Comptroller General of the Union (CGU), is still ongoing. During the third quarter of2024, Getinge made, in line with applicable accounting standards, a provision ofSEK 482 M related to anticipated costs related to this process. The provision is theresult of an ongoing constructive dialogue to reach a conclusion in thenegotiations with the CGU. The final and definitive costs will be determined oncethe negotiations have been concluded, and such an amount could be lower orhigher than the provision that has now been made. No information emerged in theperiod that would cause a change in the provision.

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In addition to the investigations with CGU, Getinge has previously communicated that settlement agreements have been reached with the Brazilian Federal Prosecutor's Office (Ministério Público Federal) in 2018 and the competition authority, Administrative Council for Economic Defense (CADE) in 2019, both related to anti-competitive practices relating to the sale of medical devices. It cannot be ruled out that any further agreements with authorities may have a material impact on the company's financial earnings and position, but cannot currently be estimated neither in terms of amount nor timing. Getinge has a zero tolerance policy when it comes to contraventions of these regulations. The Group's Code of Conduct is very clear in this respect.

The EVP Sustainability, Legal & Compliance represents the Ethics & Compliance function on the Getinge Executive Team, which highlights the high priority of these issues. A training program in business ethics is provided on an ongoing basis and the aim is for all employees to undergo such training at least once a year. The regulations also apply to external distributors who sell Getinge products.

Dependence on meeting climate targets

Getinge is dependent on meeting the climate targets set to reach net zero emissions by 2050 that were approved by the SBTi. Getinge's analysis shows that the majority of emissions come from the purchases of goods, logistics and the use of sold products. As a result, the company does not have full control over its emissions and cannot therefore directly control their reduction.

If Getinge does not meet its climate targets, it could have a significant negative impact on the company's reputation and operations, in addition to negative climate impacts.

Getinge is dependent on meeting the climate targets set to reach net zero emissions by 2050 that were approved by the SBTi. Getinge's analysis shows that the majority of emissions come from the purchases of goods, logistics and the use of sold products. As a result, the company does not have full control over its emissions and cannot therefore directly control their reduction.

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Strategic risks

Description Potential consequences Management
Lack of future skills Risk of dependency on key peopleincluding lack of successionplanning and ineffective processesto identify and spread criticalknow-how within the organization.Also the risk of being unable toattract and retain the right talentand skills. A lack of future skills could lead tohigher staff turnover, operationaldisruptions and damage the Getingebrand. In the future, it may have anegative impact on Getinge's long-termsustainability and growth, andultimately affect Getinge's ability toattract and retain talent. Getinge is continuously improving the succession planning process to ensure theglobal development of talent. Getinge is focusing on talent mobility andknowledge sharing and strives to create a culture and leadership that attractsboth new and existing talent. Getinge's aim is to be a company where everyonecan thrive and grow.
Digitization andinnovation Getinge's future growth dependson successful productdevelopment, particularly indigitalization. Innovation is crucialfor maintaining and strengtheningthe company's leading position. Innovation efforts are costly and it isnot possible to guarantee thatdeveloped products will becommercially successful, whichcould result in impairment. In thelong term, the Group's marketposition could be negativelyaffected if Getinge is unsuccessful inthis area. As a means of maximizing the return on investments in research and development,the Group applies a structured selection and planning process that includescareful analyses of the market, technological progress, choice of productionmethod and selection of subcontractors. The actual development work is alsoconducted in a structured manner and each project undergoes a number of fixedcontrols. Getinge is particularly concerned with ensuring access to theright skills, retaining key individuals, being an attractive employer to recruit talentexternally, and identifying and developing talent within the organization.
Fragmented productportfolio Getinge's product portfolioconsists, to a certain extent, of alarge number of acquisitions thatwere made throughout the yearswithin a variety of productcategories. An offering to our customers that, incertain parts, is too diverse could leadto Getinge lacking the critical massneeded to conduct fully efficientoperations in all product categories. Efforts are being made to enhance the efficiency of the customer offering underthe framework of the ongoing strategic activities in each business area. Theintroduction of the new EU Medical Device Regulation means priorities need to bemade regarding the certification of products under the new regulatory framework.Products have been selected that, over the long term, will be a part of thecustomer offering, which will lead to increased concentration as well asstreamlining.
Risks related tointellectual propertyrights Getinge's leading positions inmany product segments are basedon patent and trademark rights,which could lead to disputes withcompetitors. Costly disputes over intellectualproperty rights could reduce the returnon investment in research anddevelopment. It cannot be ruled outthat the costs that could ariseassociated with this could be material. Getinge closely monitors the activities of its competitors and actively defends itsintellectual property rights through legal processes if necessary.
Financial risks Getinge is exposed to a numberof financial risks in itsoperations. Financial risksprincipally pertain to currencyrisks, interest-rate risks, andcredit and counterparty risks. Fluctuations in exchange rates andinterest rates and changes incounterparties' credit profiles couldadversely affect the Group's incomestatement and balance sheet. Risk management is regulated by the finance policy adopted by the Board and aTreasury directive decided by the Getinge Executive Team based on the financepolicy. The ultimate responsibility for managing the Group's financial risks anddeveloping methods and principles of financial risk management lies with theGetinge Executive Team and the treasury function. For more detailed informationconcerning these risks, refer to Note 18 of the Annual Report.
Profitability dependenton certain productsand markets Some products and marketscontribute more to overallprofitability. If sales volumes in these marketswere to decrease, it could have anegative impact on the Group'sprofitability. Getinge works actively to monitor profitability per product and market in order toensure profitability over time. To reduce the sensitivity of profitability, the Groupactively works on ensuring that it has the right cost level in relation to the currentprice levels in the market. Getinge also works actively to establish itself in newmarkets.
Transferring theproduct portfolio Long lead times in research anddevelopment due tocomprehensive regulations andlong validation processes arehampering rapid development tomore sustainable product andpackaging solutions. The medicaldevice marketis strictly regulated, partly toensure patient safety, which canaffect how quickly Getinge'sproducts can become sustainable. If it is not possible to transfer Getinge'sproduct and packaging solutions tomore sustainable solutions quicklyenough, there is a risk that Getinge'sreputation and competitiveness coulddecline. Getinge will always prioritize patient safety and follow applicable regulations.Without impacting our fundamental approach, the company has expanded theimplementation of eco-design principles into its development process and hasbegun to carry out life cycle assessments of its product and packaging solutionsto ensure that advances can be made when the opportunity arises.

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Assurance

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

Gothenburg, October 21, 2025

Johan Malmquist Chairman,

AGM-elected Board member

Carl Bennet

Johan Bygge AGM-elected Board member

Vice Chairman, AGM-elected Board member

Cecilia Daun Wennborg

AGM-elected Board member

Ulrika Dellby AGM-elected Board member Dan Frohm

AGM-elected Board member

Mattias Perjos President & CEO,

Malin Persson AGM-elected Board member

Kristian Samuelsson AGM-elected Board member

AGM-elected Board member

Metalworkers' Union

Fredrik Brattborn Board member Representative of the Swedish

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

15 | Q3 2025 Report

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AUDITOR'S REPORT

Getinge AB (publ), reg. no. 556408-5032

Introduction

We have reviewed the condensed interim report for Getinge AB (publ) as at September 30, 2025 and for the nine months period then ended. The Board of Directors and the Managing Director are responsible for the preparation and presentation of this interim report 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.

Scope of review

We conducted our review in accordance with the International Standard on Review Engagements, ISRE 2410 Review of Interim Financial Statements Performed by the Independent Auditor of the Entity. 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 International Standards on Auditing 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.

Conclusion

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 in accordance with the Swedish Annual Accounts Act regarding the Parent Company.

Gothenburg, October 21, 2025

Ernst & Young AB

Fredrik Norrman Authorized Public Accountant

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Consolidated financial statements

Condensed consolidated income statement

Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
SEK M Note 2025 2024 2025 2024 2024
Net sales 2, 3 8,226 7,870 24,783 23,688 34,759
Cost of goods sold -4,411 -4,315 -12,932 -12,589 -18,606
Gross profit 2, 3, 4 3,815 3,556 11,851 11,099 16,153
Selling expenses -1,416 -1,401 -4,476 -4,362 -5,979
Administrative expenses -1,090 -1,059 -3,405 -3,315 -4,654
Research and development costs -307 -319 -968 -985 -1,431
Acquisition costs -11 -29 -14 -45 -50
Restructuring costs -23 -126 -345 -231 -848
Other operating income and expenses -17 -438 -226 -392 -336
Operating profit (EBIT) 3, 4 952 184 2,418 1,769 2,854
Net financial items 3 -163 -152 -480 -398 -571
Profit after financial items 3 789 32 1,938 1,371 2,282
Taxes -214 -24 -531 -385 -628
Net profit for the period 576 8 1,407 986 1,654
Attributable to:
Parent Company shareholders 566 2 1,390 974 1,638
Non-controlling interests 10 7 17 12 16
Net profit for the period 576 8 1,407 986 1,654
Earnings per share, SEK1) 2) 2.08 0.01 5.10 3.58 6.01
Weighted average number of shares for calculation ofearnings per share (000s) 272,370 272,370 272,370 272,370 272,370

1) Before and after dilution

Consolidated statement of comprehensive income

SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Net profit for the period 576 8 1,407 986 1,654
Other comprehensive income
Items that cannot be restated in profit for the period
Actuarial gains/losses pertaining to defined-benefit pension plans -4 -31 75 37 31
Tax attributable to items that cannot be restated in profit 1 6 -23 -9 -3
Items that can later be restated in profit for the period
Translation differences -190 -1,042 -3,508 249 2,063
Hedging of net investments -35 -191 -651 63 393
Cash flow hedges 6 0 -8 -4 12
Tax attributable to items that can be restated in profit 6 39 136 -12 -83
Other comprehensive income for the period, net after tax -216 -1,218 -3,980 324 2,412
Total comprehensive income for the period 360 -1,209 -2,573 1,310 4,066
Comprehensive income attributable to:
Parent Company shareholders 351 -1,219 -2,578 1,291 4,038
Non-controlling interests 8 10 5 19 28
Total comprehensive income for the period 360 -1,209 -2,573 1,310 4,066

2) Attributable to Parent Company shareholders

{17}------------------------------------------------

Condensed consolidated balance sheet

SEK M Note September 302025 September 302024 December 312024
Intangible assets 34,420 36,822 39,242
Tangible assets 3,526 3,740 3,902
Right-of-use assets 1,446 1,732 1,795
Financial assets 33 33 47
Deferred tax assets 800 953 770
Total non-current assets 40,225 43,280 45,757
Inventories 6,736 7,258 6,590
Accounts receivable 4,837 4,695 6,348
Other current receivables 2,142 2,141 2,263
Cash and cash equivalents 7 2,847 2,241 2,961
Total current assets 16,563 16,334 18,162
TOTAL ASSETS 56,789 59,614 63,918
Equity 29,375 30,467 33,210
Provisions for pensions, interest-bearing 7 2,479 2,657 2,700
Lease liabilities, long-term 7 1,017 1,283 1,309
Interest-bearing liabilities, long-term 7 8,545 5,916 6,971
Deferred tax liabilities 1,889 2,095 2,172
Other provisions, long-term 607 400 615
Other non-interest-bearing liabilities, long-term 519 1,581 1,892
Total long-term liabilities 15,056 13,932 15,660
Lease liabilities, current 7 439 453 491
Interest-bearing liabilities, current 7 1,428 3,216 1,956
Other provisions, current 1,644 1,574 1,714
Accounts payable 1,924 2,114 2,398
Other non-interest-bearing liabilities, current 6,923 7,859 8,488
Total current liabilities 12,358 15,215 15,047
TOTAL EQUITY AND LIABILITIES 56,789 59,614 63,918

Changes in equity for the Group

Other Non Total
SEK M Share capital capitalprovided Reserves1) Retainedearnings Total controllinginterests equity
Opening balance at January 1, 2025 136 6,789 5,752 20,328 33,005 205 33,210
Total comprehensive income for the period - - -4,019 1,442 -2,578 5 -2,573
Dividend - - - -1,253 -1,253 -10 -1,262
Closing balance at September 30, 2025 136 6,789 1,733 20,517 29,175 200 29,375
Opening balance at January 1, 2024 136 6,789 3,380 19,861 30,166 237 30,403
Total comprehensive income for the period - - 288 1,002 1,291 19 1,310
Dividend - - - -1,198 -1,198 -17 -1,215
Transactions with non- - - - - - -31 -31
controlling interests
Closing balance at September 30, 2024 136 6,789 3,668 19,665 30,258 209 30,467
Opening balance at January 1, 2024 136 6,789 3,380 19,861 30,166 237 30,403
Total comprehensive income for the period - - 2,372 1,665 4,038 28 4,066
Dividend - - - -1,198 -1,198 -29 -1,228
Transactions with non
controlling interests - - - - - -31 -31
Closing balance at December 31, 2024 136 6,789 5,752 20,328 33,005 205 33,210

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

{18}------------------------------------------------

Condensed consolidated cash flow statement

SEK M Note Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Operating activities
Operating profit (EBIT) 952 184 2,418 1,769 2,854
Add-back of depreciation, amortization and write-downs 4 515 522 1,596 1,486 2,421
Other non-cash items1) 5 487 22 484 808
Add-back of restructuring costs2) 23 126 326 231 523
Paid restructuring costs -57 -95 -187 -168 -288
Financial items3) -127 -138 -390 -399 -542
Taxes paid -171 -286 -457 -472 -742
Cash flow before changes in working capital 1,141 801 3,327 2,931 5,036
Changes in working capital
Inventories 78 -197 -883 -769 46
Operating receivables -132 168 834 849 -712
Operating liabilities3) 4) -2 -90 -882 -472 208
Cash flow from operating activities 1,084 680 2,395 2,538 4,577
Investing activities
Acquisition of operations 9 - -2,788 -1,580 -3,087 -3,256
Investments in intangible assets and tangible assets -297 -325 -944 -956 -1,309
Divestment of non-current assets 5 1 12 8 15
Cash flow from investing activities -292 -3,111 -2,513 -4,035 -4,549
Financing activities
Change in interest-bearing liabilities 317 2,457 1,495 2,579 2,207
Depreciation of lease liabilities -123 -127 -375 -369 -506
Change in long-term receivables 3 32 3 29 31
Dividend paid -3 -5 -1,263 -1,215 -1,227
Cash flow from financing activities 193 2,357 -140 1,024 504
Cash flow for the period 986 -73 -258 -472 532
Cash and cash equivalents at the beginning of the period 1,945 2,286 2,961 2,728 2,728
Translation differences -83 27 144 -15 -299
Cash and cash equivalents at the end of the period 2,847 2,241 2,847 2,241 2,961

1) The provision for field actions for Cardiosave had an impact of SEK 297 M and negotiations with CGU in Brazil had an impact of SEK 482 M in 2024.

  1. Excluding write-downs on non-current assets

3) Non-cash financial items were reclassified to operating liabilities for the 2024 comparative figures.

4) Whereof received and paid interests amounts to SEK -120 M (-127) and other financial items SEK -7 M (-11). Accumulated received and paid interests amounts to SEK -372 M (-379) and other financial items SEK -19 M (-20). For the full year 2024 received and paid interests amounted to SEK -517 M and other financial items SEK -25 M

{19}------------------------------------------------

Note 1 Accounting policies

The Group's interim report has been prepared in accordance with IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act. For the Parent Company, the report has been prepared in accordance with the Swedish Annual Accounts Act and RFR 2. The accounting policies adopted are consistent with those applied for the 2024 Annual Report and should be read in conjunction with that Annual Report.

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

Note 2 Net sales

Total revenue recognized at a point in time and over time 8,226 7,870 24,783 23,688 34,759
Total revenue recognized over time 1,102 911 3,132 2,708 3,968
Total Surgical Workflows 540 430 1,552 1,299 1,855
Other revenue recognized over time 39 11 99 89 134
Profit from ongoing projects 37 2 98 50 96
Service 464 418 1,356 1,160 1,625
Surgical Workflows
Total Life Science 266 194 737 615 973
Other revenue recognized over time 0 3 0 31 38
Profit from ongoing projects 203 98 539 321 580
Life ScienceService 63 93 198 263 356
Other revenue recognized over timeTotal Acute Care Therapies 23296 15287 66843 66794 1,140
96
Profit from ongoing projects 0 0 - 0 0
Service 273 272 777 727 1,045
Revenue recognized over timeAcute Care Therapies
Total revenue recognized at a point in time 7,124 6,959 21,652 20,980 30,791
Surgical Workflows 2,249 2,415 6,466 6,906 10,403
Life Science 831 810 2,434 2,445 3,579
Acute Care Therapies 4,043 3,735 12,752 11,629 16,808
Revenue recognized at a point in time
Net sales, SEK M 2025 2024 2025 2024 2024
Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
Total recurring revenueTotal 5,5518,226 5,2797,870 16,99924,783 15,95423,688 22,33834,759
Service assignments incl. spare parts 1,678 1,660 4,983 4,833 6,750
Product sales 3,873 3,619 12,016 11,121 15,588
Recurring revenue
Capital goods 2,675 2,591 7,785 7,734 12,421
Net sales, SEK M 2025 2024 2025 2024 2024
Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec

For further information about the distribution of sales for each business area, see pages 6-8.

{20}------------------------------------------------

Note 3 Segment overview

Net sales, SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Acute Care Therapies 4,339 4,022 13,594 12,423 17,948
Life Science 1,097 1,003 3,171 3,060 4,552
Surgical Workflows 2,789 2,845 8,018 8,205 12,258
Total 8,226 7,870 24,783 23,688 34,759
Gross profit, SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Acute Care Therapies 2,339 2,078 7,586 6,825 9,615
Life Science 370 358 1,117 1,108 1,696
Surgical Workflows 1,107 1,120 3,148 3,166 4,842
Total 3,815 3,556 11,851 11,099 16,153
Operating profit (EBIT), SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Acute Care Therapies 690 208 2,157 1,718 2,065
Life Science 125 80 261 257 526
Surgical Workflows 238 14 337 102 703
Group functions and other (incl. eliminations)1) -100 -118 -337 -308 -440
Operating profit (EBIT) 952 184 2,418 1,769 2,854
Net financial items -163 -152 -480 -398 -571
Profit after financial items 789 32 1,938 1,371 2,282

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

Net sales, SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
EMEA 2,848 2,633 8,317 8,074 12,182
of which, Sweden 116 166 439 434 617
Americas 3,723 3,677 11,617 11,003 15,516
of which, USA 3,371 3,293 10,500 9,865 13,929
APAC 1,655 1,560 4,849 4,611 7,061
Total 8,226 7,870 24,783 23,688 34,759

Note 4 Depreciation, amortization and write-downs

SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Acquired intangible assets -93 -82 -294 -198 -320
Intangible assets -148 -160 -462 -460 -928
Right-of-use assets -128 -132 -392 -390 -534
Tangible assets -147 -148 -448 -437 -639
Total -515 -522 -1,596 -1,486 -2,421
Write-downs included in total -4 1 -23 - -357
SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Cost of goods sold -235 -243 -719 -706 -960
Selling expenses -160 -158 -498 -421 -625
Administrative expenses -100 -104 -305 -310 -414
Research and development costs -21 -17 -55 -50 -99
Restructuring costs 0 - -19 - -325
Total 515 -522 -1,596 -1,486 -2,421
Write-downs included in total -4 1 -23 - -357

{21}------------------------------------------------

Note 5 Quarterly results

SEK M Jul-Sep2025 Apr-Jun2025 Jan-Mar2025 Oct-Dec2024 Jul-Sep2024 Apr-Jun2024 Jan-Mar2024 Oct-Dec2023
Net sales 8,226 8,238 8,320 11,071 7,870 8,305 7,513 9,903
Cost of goods sold -4,411 -4,296 -4,225 -6,018 -4,315 -4,394 -3,880 -5,617
Gross profit 3,815 3,941 4,095 5,053 3,556 3,911 3,632 4,286
Operating expenses -2,863 -3,074 -3,497 -3,969 -3,372 -3,081 -2,877 -3,149
Operating profit (EBIT) 952 867 598 1,084 184 830 755 1,137
Net financial items -163 -147 -170 -173 -152 -130 -117 -152
Profit after financial items 789 721 428 911 32 700 638 986
Taxes -214 -194 -124 -243 -24 -187 -174 -267
Net profit for the period 576 527 304 668 8 513 464 719

Note 6 Adjustment items

Adjusted EBITA, SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Acute Care Therapies 763 637 2,624 2,247 3,554
Life Science 141 101 318 315 608
Surgical Workflows 263 251 453 420 1,090
Group functions and other (incl. eliminations) -89 -86 -323 -256 -383
Total 1,079 903 3,071 2,726 4,869
Adjustments of EBITA, SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Specification of items affecting comparability that impact EBITA
Restructuring costs, Acute Care Therapies -16 -97 -282 -151 -715
Restructuring costs, Life Science -3 -6 -16 -26 -35
Restructuring costs, Surgical Workflows -4 -19 -48 -47 -91
Provision for investigations with CGU in Brazil, Acute Care Therapies1) - -289 - -289 -289
Provision for investigations with CGU in Brazil, Surgical Workflows1) - -193 - -193 -193
Provision for field actions for Cardiosave, Acute Care Therapies2) - - - - -297
Other, Acute Care Therapies - - - - -18
Group functions and other (incl. eliminations) -11 -32 -14 -52 -57
Total -33 -637 -359 -759 -1,695
Items affecting comparability per segment
Acute Care Therapies -16 -387 -282 -440 -1,319
Life Science -3 -6 -16 -26 -35
Surgical Workflows -4 -212 -48 -240 -284
Group functions and other (incl. eliminations) -11 -32 -14 -52 -57
Total -33 -637 -359 -759 -1,695

1) Reported in Other operating income and operating expenses

2) Reported in Cost of goods sold

EBITA, SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Acute Care Therapies 748 250 2,342 1,806 2,235
Life Science 138 95 302 289 573
Surgical Workflows 260 39 405 180 806
Group functions and other (incl. eliminations) -100 -118 -337 -308 -440
Total 1,045 266 2,712 1,968 3,174
Effect of adjustment of tax, SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Amortization and write-down of acquired intangible assets1) 93 82 294 198 320
Items affecting comparability 33 637 359 759 1,695
Adjustment items, total 127 719 653 957 2,016
Tax on adjustment items2) -35 -109 -180 -175 -459
Adjustment for tax items affecting comparability - - - - -
Total -35 -109 -180 -175 -459

1) Excluding write-downs classified as items affecting comparability

2) Tax effect on tax deductible adjustment items

{22}------------------------------------------------

Note 7 Consolidated net interest-bearing debt

SEK M September 302025 September 302024 December 312024
Interest-bearing liabilities, current 1,428 3,216 1,956
Interest-bearing liabilities, long-term 8,545 5,916 6,971
Provisions for pensions, interest-bearing 2,479 2,657 2,700
Lease liabilities, current 439 453 491
Lease liabilities, long-term 1,017 1,283 1,309
Interest-bearing liabilities 13,908 13,525 13,428
Less cash and cash equivalents -2,847 -2,241 -2,961
Net interest-bearing cash/debt 11,061 11,284 10,467

Note 8 Key figures for the Group

Financial and operative key figures Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Key figures based on Getinge's financial targets
Adjusted earnings per share1), SEK 2.42 2.24 6.84 6.45 11.73
Growth in adjusted earnings per share1), % 7.9 -15.8 6.1 5.9 27.6
Other operative and financial key figures
Organic growth in order intake, % 4.7 7.4 4.0 5.9 6.3
Organic growth in net sales, % 9.5 0.2 6.6 3.0 4.9
Gross margin, % 46.4 45.2 47.8 46.9 46.5
Selling expenses, % of net sales 17.2 17.8 18.1 18.4 17.2
Administrative expenses, % of net sales 13.2 13.4 13.7 14.0 13.4
Research and development costs, gross as a % of net sales 5.5 6.0 5.9 6.3 6.0
Operating margin, % 11.6 2.3 9.8 7.5 8.2
EBITDA, SEK M 1,468 706 4,014 3,255 5,275
Average number of shares, thousands 272,370 272,370 272,370 272,370 272,370
Number of shares at the end of the period, thousands 272,370 272,370 272,370 272,370 272,370
Interest-coverage ratio, multiple 11.6 11.4 12.3
Net debt/equity ratio, multiple 0.38 0.37 0.32
Net debt/Rolling 12m adjusted EBITDA, multiple 1.6 2.0 1.6
Capital employed, SEK M 41,417 39,379 40,952
Return on capital employed, % 11.6 9.6 11.1
Return on equity, % 6.8 5.4 5.2
Equity/assets ratio, % 51.7 51.1 52.0
Equity per share, SEK 107.85 111.86 121.93
Number of employees 11,794 11,848 11,791

1) Before and after dilution

{23}------------------------------------------------

Alternative performance measures

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

Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
Calculation of organic net sales 2025 2024 2025 2024 2024
Net sales 8,226 7,870 24,783 23,688 34,759
Add-back of:
Currency translation 596 286 1,193 387 423
Acquired operations -203 -535 -734 -1,500 -1,794
Net sales, organic 8,619 7,621 25,242 22,575 33,387
Adjusted gross profit, SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Gross profit 3,815 3,556 11,851 11,099 16,153
Add-back of:
Depreciation, amortization and write-downs of intangible assets and
tangible assets 235 243 719 706 960
Other items affecting comparability - - - - 297
Adjustment for write-downs included in other items affecting
comparability - - - - -
Adjusted gross profit 4,051 3,799 12,570 11,805 17,409
Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
Adjusted EBITDA, SEK M 2025 2024 2025 2024 2024
Operating profit (EBIT) 952 184 2,418 1,769 2,854
Add-back of:
Depreciation, amortization and write-downs of intangible assets and
tangible assets 422 440 1,302 1,288 1,823
Amortization and write-down of acquired intangible assets 93 82 294 198 320
Other items affecting comparability - 482 - 482 797
Acquisition and restructuring costs 33 155 359 276 898
Adjustment for write-downs included in other items affecting
comparability and restructuring costs 0 - -19 - -46
Adjusted EBITDA 1,501 1,343 4,353 4,014 6,646
Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
Adjusted EBITA, SEK M 2025 2024 2025 2024 2024
Operating profit (EBIT) 952 184 2,418 1,769 2,854
Add-back of:
Amortization and write-down of acquired intangible assets 93 82 294 198 320
Other items affecting comparability - 482 - 482 797
Acquisition and restructuring costs 33 155 359 276 898
Adjusted EBITA 1,079 903 3,071 2,726 4,869
Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
Adjusted EBIT, SEK M 2025 2024 2025 2024 2024
Operating profit (EBIT)Add-back of: 952 184 2,418 1,769 2,854
Other items affecting comparabilityAcquisition and restructuring costs -33 482155 -359 482276 797898
Adjusted EBIT 986 821 2,776 2,528 4,549
Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec
Adjusted net profit for the period, SEK M 2025 2024 2025 2024 2024
Net profit for the period 576 8 1,407 986 1,654
Add-back of:
Amortization and write-down of acquired intangible assets 93 82 294 198 320
Other items affecting comparability - 482 - 482 797
Acquisition and restructuring costs 33 155 359 276 898
Tax items affecting comparability - - - - -
Tax on add-back items -35 -109 -180 -175 -459

Adjusted net profit for the period 668 618 1,880 1,768 3,211

{24}------------------------------------------------

The calculation of adjusted earnings per share,before and after dilution, attributable to Parent Company shareholders,is based on the following information:Earnings (numerator), SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Adjusted net profit for the period 668 618 1,880 1,768 3,211
Adjusted net profit for the period attributable to non-controlling interest -10 -7 -17 -12 -16
Adjusted net profit for the period attributable to the Parent Companyshareholders, which form the basis for calculation of adjusted earningsper share 658 611 1,863 1,756 3,195
Number of shares (denominator)Weighted average number of ordinary shares for calculation of adjusted Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
earnings per share (thousands) 272,370 272,370 272,370 272,370 272,370
Adjusted earnings per share, SEK 2.42 2.24 6.84 6.45 11.73

Note 9 Acquisitions

No acquisitions took place during the third quarter that had a material impact on the Group's financial earnings and position. The acquisition analyses of Paragonix Technologies, Inc. and Getinge Aseptic Solutions LLC were completed during the quarter.

Contingent considerations

Getinge signed agreements on contingent considerations in connection with acquisitions of assets and subsidiaries. Liabilities for these additional purchase prices are measured at fair value through profit or loss at Level 3 of the fair value hierarchy. The additional purchase prices are contingent on securing government approval for the acquired product development projects and contingent on the earnings performance of the acquired businesses. Future cash flows are discounted if the planned payment date exceeds 12 months. Assessments of future cash flows related to the contingent consideration are regularly reviewed by company management and recognized at fair value. The discount effect is recognized in profit or loss under financial items on an ongoing basis.

September 30 September 30 December 31
Contingent considerations 2025 2024 2024
Opening balance 3,280 498 498
Business combinations - 2,967 3,112
Dissolution of provision - -13 -13
Fair value adjustments recognized in profit or loss 5 - 11
Payments -1,599 -359 -512
Discount effect 60 12 32
Translation differences -401 -97 152
Closing balance 1,344 3,009 3,280

{25}------------------------------------------------

Parent Company financial statements

Condensed Parent Company's income statement

SEK M Jul-Sep2025 Jul-Sep2024 Jan-Sep2025 Jan-Sep2024 Jan-Dec2024
Net sales 75 68 257 224 293
Administrative expenses -86 -93 -282 -243 -328
Operating loss -11 -25 -25 -19 -35
Result from participations in Group companies1) 43 2 2,134 1,731 1,743
Interest income and other similar income2) 8 15 45 25 37
Interest expenses and other similar expenses2) -54 -56 -167 -163 -218
Profit/loss after financial items -14 -62 1,987 1,576 1,527
Appropriations - - - - 139
Taxes 2 4 -6 -5 -39
Net profit/loss for the period3) -12 -59 1,981 1,570 1,627

1) Primarily refers to dividends from Group companies that take place on an ongoing basis throughout the year.

Condensed Parent Company's balance sheet

SEK M September 302025 September 302024 December 312024
Assets
Intangible assets - 0 -
Tangible assets 1 2 2
Participations in Group companies 31,572 29,492 29,582
Deferred tax assets 104 102 99
Current receivables from Group companies 1,222 1,468 1,244
Current receivables 80 95 18
Cash and bank balances 2 1 0
Total assets 32,981 31,160 30,946
Equity and liabilities
Equity 26,397 25,612 25,669
Long-term liabilities 5,793 4,094 3,595
Other provisions 25 14 16
Current liabilities to Group companies 8 2 7
Current liabilities 758 1,437 1,660
Total equity and liabilities 32,981 31,160 30,946

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

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

{26}------------------------------------------------

Definitions

Financial terms

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

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

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

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

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

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

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

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

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

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

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

EBIT: Operating profit.

EBITA margin: EBITA in relation to net sales.

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

EBITDA margin: EBITDA in relation to net sales.

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

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

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

Free cash flow: Cash flow from operating activities and investing activities, excluding acquisitions and divestment of operations.

Gross margin: Gross profit in relation to net sales.

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

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

Net debt/equity ratio: Net interest-bearing debt in relation to equity.

Operating liabilities: Accounts payable, other provisions and other non-interestbearing liabilities (contract liabilities, noninterest-bearing provisions for pensions and similar obligations, accrued expenses and deferred income as well as other liabilities).

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

Operating receivables: Accounts receivable and other current receivables (contract assets, prepaid expenses and accrued income, and other receivables).

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

Recurring revenue: Revenue from sales of products that are continuously consumed as well as service, spare parts and similar items.

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

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

Sustainability terms

Double materiality assessment: The process of identifying an organization's impacts on people and the environment and the sustainability-related financial risks and opportunities for the organization. The results are also used to determine whether

a sustainability topic is to be included in the company's sustainability report.

Employee engagement: The engagement score in Getinge's employee survey.

ESRS: European Sustainability Reporting Standards.

Online customer training: The number of training courses held for customers. The total number of times a customer has completed an e-learning course or participated in a training webinar.

REC (Renewable Energy Certificates): Used to certify that electricity was generated from renewable sources.

Scope 1 & 2: Carbon emissions from production (in ton CO2 equivalents). Scope 1 includes emissions from oil and gas consumption. Emissions from Getinge's vehicle fleet are excluded in the interim report but the amounts for the full-year are presented in the Sustainability Report. Scope 2 includes emissions from electricity, heating and cooling. Emissions from leased premises are excluded in the interim report but the amounts for the full-year are presented in the Sustainability Report.

Scope 3: Includes other indirect emissions, both upstream and downstream in the value chain, arising from activities such as freight transport, purchased goods and services, as well as emissions from the use of products sold.

WRAR (Work Related Accident Rate): The number of work-related accidents divided by the number of hours worked, normalized by multiplying by 200,000 hours.

Medical terms

Cardiopulmonary: Pertaining or belonging to both heart and lung.

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

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

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

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

Endovascular: Vascular treatment using catheter technologies.

EVH Endoscopic Vessel Harvesting is a minimally invasive technique for removing blood vessels, for example during coronary artery bypass surgery.

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Extracorporal life support (ECLS):

Oxygenation of the patient's blood outside the body (extracorporeal) using advanced medical technology.

Grafts: Artificial vascular implants.

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

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

NAVA: Neurally Adjusted Ventilatory Assist (NAVA) identifies the electric activity that

activates the diaphragm and using these signals adapts the ventilation to the patient's respiratory rhythm.

Perfusionist: A healthcare professional who operates the heart-lung machine during surgery.

Stent: A tube for endovascular widening of blood vessels.

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

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

Ventilator: Medical device to help patients breath.

Vessel harvesting: The name of the process for removing blood vessels from the body.

WIS: Product category Washers Isolators Sterilizers.

Geographic areas

Americas: North, South and Central America.

APAC: Asia and Pacific (excluding Middle East).

EMEA: Europe, Middle East and Africa.

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Teleconference

A teleconference with President & CEO Mattias Perjos and CFO Agneta Palmér will be held on October 21, 2025 at 10:00–11:00 a.m. CEST.

Fund managers, analysts and the media are invited to the teleconference.

Register via https://events.inderes.com/getinge/q3-report-2025/dial-in to participate in the teleconference. After registering, you will receive a telephone number and a conference ID to log in to the teleconference. You can ask questions verbally at the teleconference.

A presentation will be held during the telephone conference. To access the presentation, clink on https://getinge.events.inderes.com/q3-report-2025. A recording will be available at https://getinge.events.inderes.com/q3-report-2025 for three years.

Financial information

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

January 27, 2026 Q4 Report 2025 April 21, 2026 Q1 Report 2026

April 21, 2026 Annual General Meeting

Contact

David Kördel, Head of Investor Relations +46 (0)10 335 0077 [email protected]

This information is such that Getinge AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on October 21, 2025 at 8:00 a.m. CEST.

With a firm belief that every person and community should have access to the best possible care, Getinge provides hospitals and life science institutions with products and solutions that aim to improve clinical results and optimize workflows. The offering includes products and solutions for intensive care, cardiovascular procedures, operating rooms, sterile reprocessing and life science. Getinge employs about 12,000 people worldwide and the products are sold in more than 135 countries.

Getinge has been listed on Nasdaq OMX Stockholm, Nordic Large Cap since 1993.

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