Getinge

Quarterly Report • Aug 3, 2015

Interim Report January - June 2015

SECOND QUARTER IN BRIEF

• Order intake increased by 13.0% to SEK 7,516 M (6,651), and declined organically by 0.7%.
• Net sales increased by 13.5% to SEK 7,181 M (6,327). Net sales declined organically by 0.4%.
• Profit before tax declined by 55.7% to SEK 243 M (549).
• Earnings per share amounted to SEK 0.71 (1.67).
• EBITA* declined 21% to SEK 715 M (905).
• Continued focus on quality processes: the remediation program is proceeding according to plan, a Group-wide Quality & Regulatory Compliance function has been established, EBITA was charged with SEK 75 M related to the Consent Decree with the US FDA.

FINANCIAL SUMMARY

	Q2	Q2		Jan-Jun	Jan-Jun			FY
Mkr	2015	2014	Change %	2015	2014	Change %	Rolling 12M	2014
Order intake	7 516	6 651	13,0%	14 708	12 628	16,5%	28 897	26 817
Net sales	7 181	6 327	13,5%	13 893	11 959	16,2%	28 603	26 669
Gross profit	3 331	3 083	8,0%	6 473	5 861	10,4%	13 722	13 110
Gross margin	46,4%	48,7%	-2,3%	46,6%	49,0%	-2,4%	48,0%	49,2%
EBITA*	715	905	-21,0%	1 432	1 575	-9,1%	4 358	4 501
EBITA margin*	10,0%	14,3%	-4,3%	10,3%	13,2%	-2,9%	15,2%	16,9%
Operating profit	428	713	-40,6%	762	419	81,9%	2 989	2 646
Profit before tax	243	549	-55,7%	388	97		2 278	1 987
Net profit	177	401	-55,9%	283	71		1 660	1 448
Earnings per share, SEK	0,71	1,67	-57,5%	1,09	0,29		6,81	6,01
Cash flow from operations	598	901	-33,6%	1 252	1 339	-6,5%	3 386	3 473

* before restructuring, acquisition and integration cost

COMMENTS BY THE CEO

Continued challenging earnings trend – but high activity level and optimism for the future

As I close my first full quarter as President and CEO of Getinge, I am, naturally, dissatisfied with these earnings and with the fact that we did not succeed in breaking the negative trend and reporting improved efficiency. At the same time, I see many opportunities for the Group to continue to grow and improve its profitability. We are managing the short-term challenges and simultaneously concentrating on our long-term agenda. I have initiated a series of measures to increase cost control and in parallel with this we are focusing on the restructuring projects that are underway in all business areas to enhance the efficiency of the business. I am convinced that we are on the right path.

We see a mixed demand profile in our various markets. North America continues to display a cautiously positive trend, while Western Europe weakened during the quarter. In the rest of the world, demand largely remained unchanged at Group level. The order intake declined 0.7% organically and fell short of our expectations. The earnings trend remained negative, primarily due to effects related to the FDA and the low utilization of our capital goods plants.

During the quarter, we announced our intention to relocate the manufacturing of sterilizers from the production unit in Rochester, US, to Poznan, Poland, and thus close the Rochester plant. We implemented an extensive restructuring program for Extended Care's operations in the US that is starting to generate positive effects. Meanwhile, we are investing in emerging markets by expanding the sales force and by launching the "One Getinge" initiative which entails the three business areas working together to create economies of scale and new growth opportunities. We continue to further develop our offer in the emerging markets, with focus on simpler functionality at a lower price. One example is Medical Systems' new turbin ventilator, SERVO-air, which was launched during the quarter.

We are intensifying our focus on quality processes and regulatory compliance by establishing a new Group-wide Quality & Regulatory Compliance function that reports directly to me. We are also launching new Group-wide values and ethical guidelines as part of this work.

We maintained our intense focus on the remediation program for Medical Systems' quality management system and work is progressing according to plan. A third-party inspection of Atrium's production units in Hudson and Merrimack, New Hampshire was carried out and we are waiting for feedback from the FDA. Medical Systems' manufacturing unit in La Ciotat, France, was also inspected by the FDA during the quarter, with no observations noted. This is very gratifying for the organization and confirmation that our focus on quality processes is yielding results.

To strengthen our long-term competitiveness, we will need to make extensive changes. This will involve structural changes in the Group and the plan will be presented at the capital markets day on September 2. Moreover, I am optimistic for the future, and I am convinced that the measures we are carrying out will help make Getinge stronger and more competitive.

Alex Myers, CEO & President

Outlook

The Group expects volumes in the Western European market to remain weak. The North American market is expected to continue to improve, although at a slow rate. The markets outside Western European and North American face challenges related to the BRIC countries that will negatively impact volumes, but in other markets growth prospects are deemed positive and the Group predicts an improvement on current levels in 2015. The Group expects that the recent product launches and product acquisitions will continue to contribute to growth. Overall, volume growth is expected to improve during the second half of the current year.

As previously communicated, the total financial consequences related to the Consent Decree with the US FDA, excluding the costs for the remediation program, are estimated to amount to approximately SEK 500 M and will impact the Group's operating profit for 2015. An additional payment of SEK 50 M may be liable if certain milestones set by the FDA in the enhancement program at Atrium's Hudson, New Hampshire facilities are not completed within six months of the first payment. This SEK 50 M payment is expected to be included in the SEK 500 M stated above.

The net effect of exchange-rate fluctuations in 2015 is expected to have a negative impact of approximately SEK 10 M on the Group's profit before tax, of which currency-transaction effects amount to negative SEK 240 M and exchange-rate translation effects to approximately positive SEK 230 M, based on the prevailing exchange rate scenario.

Restructuring costs for the full-year 2015 are expected to amount to SEK 540 M.

The potential for improving the Group's profitability in the medium term remains favorable. The extensive strategy update that has been made includes initiatives to enhance the efficiency of and streamline the operations and initiatives to ensure long-term organic growth. In addition to the strategy, Getinge will present the outcome of the plan prepared by President and CEO Alex Myers at the capital markets day on September 2, 2015 in Stockholm. New financial targets will also be presented at the capital markets day.

NET SALES AND EBITA MARGIN

Getinge Group – Second quarter 2015

ORDER INTAKE

The Group's order intake fell organically by 0.7% (-0.5) during the quarter. Medical Systems reported a weak quarter with an organic increase of 0.1% (-2.9). Extended Care also noted a weak organic order intake with a decline of -4.1% (4.5). However, Infection Control grew organically by 1.6% (0.9).

RESULTS

The Group's net sales declined organically by 0.4% (1.0). The Medical Systems business area's net sales declined organically by 0.2% (1.3) and Extended Care's net sales also fell organically by 1.0% (0.5). Net sales for Infection Control was in line with the year-earlier period with the business area reporting a decline of 0.1% (7.6).

The gross margin was adversely impacted by, for example, negative currency transaction effects, effects related to the FDA and lower utilization of the Group's capital goods plants.

The Group's costs rose during the quarter, primarily attributable to effects related to the Consent Decree with the FDA and investments for establishing Group-wide functions, such as Shared Services that will assist with improved processes and boost efficiency. Furthermore, Extended Care made significant investments in the sales organization in emerging markets. Extended Care's US company recognized a write-off of assets corresponding to SEK 100 M.

Exchange-rate effects had a positive impact of SEK 63 M on EBITA, of which transaction effects accounted for SEK -61 M and translation effects for SEK 124 M.

EBITA before restructuring, acquisition and integration costs amounted to SEK 715 M (905).

The quarter was charged with restructuring costs amounting to SEK 86 M (27), mainly attributable to the ongoing efficiency enhancement activities at Infection Control.

Consolidated operating cash flow from operating activities totaled SEK 598 M (901), corresponding to a cash conversion of 57.7% (73.1).

KEY EVENTS DURING THE QUARTER

Group-wide Quality & Regulatory Compliance function

The Group established a new Group-wide Quality & Regulatory Compliance function during the quarter. Lena Hagman, former Senior Vice President Quality and Regulatory Management at the Extended Care and Infection Control business areas, was appointed Senior Vice President Group Quality & Regulatory Compliance and will lead the work on developing efficient shared processes for the Group as a whole. The new function became effective on June 1, 2015, and reports to the President and CEO.

Ethics and values

The Group began the implementation of new Group-wide values and appropriate conduct during the quarter to realize its strategy and achieve set targets. During the quarter, work on implementing an updated global anti-corruption and whistle-blowing policy commenced in Brazil, China and the United Arab Emirates through a comprehensive training program. Work will also be carried out in other markets in the Group during the remainder of 2015 and 2016 to ensure understanding of the significance of the policy and compliance with the regulations.

Continued establishment of Shared Services

In line with strengthening the Group's competitiveness and freeing up resources to invest in the Getinge Group's future, Getinge initiated a pilot project in 2014 for Shared Services in the units that are located at Getinge, Sweden. The focus is primarily on financial and administrative support functions and experiences and lessons from the pilot have now contributed to the Group's continued implementation of the Shared Services functions. The establishment process continued in the EMEA region during the quarter and now encompasses a total of 15 of the Group's units in Sweden, Denmark, the UK, Poland, Netherlands and Belgium. These establishments initially involve investments but will lead to savings on the basis of synergies that could not otherwise have been achieved with the previous fragmented structure. An update on the financial effects will be provided at the capital markets day on September 2.

New Group-wide organization in emerging markets

As part of the work on the Group's continued expansion in emerging markets, restructuring has been initiated in selected markets, with the three business areas merging to form one single Groupwide unit per country – "One Getinge". Based on commercial collaboration, the new structures are expected to contribute to higher sales growth for the Group, while economies of scale can be leveraged and create conditions for a more efficient organization. The new organization entails that five regional managers will be responsible for the Group's total offering in their respective regions. The five growth regions are Latin America, Central and Eastern Europe, East Asia, Asia/Pacific and Middle East/Africa. The new organization became effective on July 1, 2015.

FINANCIAL POSITION

Operating cash flow amounted to SEK 1,252 M (1,339) during the first half of the year. Taxes paid for the first two quarters of the year amounted to SEK -526 M (-458). The Group's cash and cash equivalents amounted to SEK 1,392 M compared with SEK 1,482 M in December 2014. Interest-bearing net debt at the end of the period amounted to SEK 23,346 M compared with SEK 22,541 M in December 2014. Cash flow was impacted by dividends to shareholders, including minority shareholders, amounting to SEK -682 M (-989) and by net investments of SEK -510 M (- 598). The equity/assets ratio amounted to 35.2%, compared with 35.4% in December 2014.

NET SALES AND EBITA MARGIN

Medical Systems business area

The Medical Systems business area's product range includes operating room equipment, intensive care units and cath labs, instruments and implants for cardiovascular surgery, anesthesia equipment and ventilators, as well as advanced products for the minimally invasive treatment of cardiovascular diseases.

ORDER INTAKE

Medical Systems' order intake increased organically by 0.1% (-2.9). The order intake continued to improve in the important North American market and the US reported a strong performance with an increase of 4.4% despite the negative effects of the Consent Decree with the FDA. The performance in the US was primarily attributable to a strong order intake in the Cardiovascular division. In the Western European market, the order intake declined in most markets except for the Nordic countries and Italy.

In the markets outside Western Europe and North America, the order intake was flat. Japan performed positivity during the quarter and in the BRIC countries, the trend was favorable in Brazil and India, but weak in China and Russia. The trend in the Middle East was particularly weak, with declining demand for the quarter mainly due to the political situation.

ORDER INTAKE PER MARKET

Order Intake, MSEK	Q2 2015	Q2 2014	Change %*	Jan-Jun 2015	Jan-Jun 2014	Change %*	Rolling 12M	FY 2014
Western Europe	1 047	1 062	-4,3%	2 132	1 976	0,3%	4 415	4 259
USA and Canada	1 514	1 148	4,1%	2 974	2 181	7,0%	5 534	4 741
Rest of the world	1 364	1 210	0,2%	2 519	2 200	-0,1%	5 380	5 061
Business Area total	3 925	3 420	0,1%	7 625	6 357	2,5%	15 329	14 061

*adjusted for currency rates, acquisitions and divestments

RESULTS

Medical Systems' net sales fell organically by 0.2% (1.3), mainly as a result of challenges related to the sales of capital goods in the Surgical Workplaces division and effects related to the Consent Decree with the FDA.

The lower gross margin of 51.4% (55.3) was primarily due to increased effects related to the FDA. In addition, an unfavorable product mix, negative currency transaction effects and weaker capacity utilization in the business area's capital goods plants contributed to a lower gross margin.

The cost trend was stable during the quarter, except for increased selling expenses in the US and higher administrative expenses as a result of investments in the quality organization.

Exchange-rate effects had a positive impact of SEK 71 M on EBITA, of which transaction effects accounted for SEK -33 M and translation effects for SEK 104 M.

The EBITA margin amounted to 13.2% (18.2). EBITA was adversely affected by SEK 75 M attributable to the loss of revenue and increased costs attributable to the Consent Decree with the FDA.

The quarter was charged with restructuring costs amounting to SEK 29 M (14), mainly attributable to reorganization of the Cardiovascular division, investments to strengthen the Group expansion on emerging markets, and the integration of Pulsion.

	Q2 2015	Q2 2014	Change %	Jan-Jun 2015	Jan-Jun 2014	Change %	Rolling 12M	FY 2014
Net sales, MSEK	3 781	3 299	14,6%	7 212	6 118	17,9%	15 199	14 105
Adj. for x-rates, acquisi tions and divestments			-0,2%			0,9%
Gross Profit	1 942	1 823	6,5%	3 725	3 377	10,3%	8 104	7 756
Gross margin, %	51,4%	55,3%	-3,9%	51,6%	55,2%	-3,6%	53,3%	55,0%
Operating costs, MSEK	-1 594	-1 349	18,2%	-3 098	-2 655	16,8%	-5 833	-5 390
EBITA before restructur ing and integration costs	499	600	-16,8%	928	960	-3,3%	2 836	2 868
EBITA margin %	13,2%	18,2%	-5,0%	12,9%	15,7%	-2,8%	18,7%	20,3%
Acquisition expenses	-9	-5	80%	-18	-9	100%	-40	-31
Restructuring and inte gration costs, MSEK	-29	-14	107,1%	-98	-819	-88,0%	-322	-1 043
EBIT	309	455	-32,1%	510	-106		1 908	1 292
EBIT margin %	8,2%	13,8%	-5,6%	7,1%	-1,7%	8,8%	12,6%	9,2%

ACTIVITIES

Consent Decree between Medical Systems and the FDA

As previously announced, a US federal judge approved the terms of a Consent Decree between Medical Systems and the FDA on February 3, 2015. Under the terms of the Consent Decree, certain products manufactured at Medical Systems' Atrium Medical Corporation business unit based in Hudson, New Hampshire were temporarily suspended while corrections are being made. These products will be temporarily unavailable, once existing inventory located at Medical Systems' distribution facilities has been exhausted. However, certain products currently manufactured by Atrium have been deemed medically necessary under the Consent Decree and will continue to be made available to customers inside and outside of the US.

A third-party inspection of Atrium's production units in Hudson and Merrimack, New Hampshire was carried out during the quarter in line with the Consent Decree with the FDA. An inspection was also initiated at Medical Systems' production unit in Wayne, New Jersey, and is expected to be completed during the third quarter of 2015. Two further inspections regarding the Rastatt and Hechingen production units in Germany are planned to begin during the third quarter of 2015.

As previously announced, Getinge committed SEK 995 M in 2014 related to the remediation program for strengthening Medical Systems' quality management system. SEK 101 M of this amount was utilized during the quarter, in addition to the SEK 575 M utilized in 2014 and the first quarter of 2015. The remediation program is progressing according to plan and has already led to major improvements. The total remediation program is expected to be completed by mid-2016.

FDA 2014	SEK million
st quarter Provision, 1	799
th quarter Additional provision, 4	175
Currency effect	21
Total 2014	995
Completed remediation activities 2014, provision utilized	-470
Closing balance December 31st, 2014	525
FDA 2015	SEK million
Completed remediation activities 1st quarter, provision utilized	-105
Closing balance March 31st, 2015	420
Completed remediation activities 2nd quarter, provision utilized	-101
Closing balance June 30th , 2015	319

As previously announced, the total financial consequences related to the Consent Decree, excluding the costs for the remediation program, are estimated to amount to approximately SEK 500 M and will impact the Group's operating profit for 2015.

Of the SEK 500 M stated above, SEK 100 M was charged to the first quarter, of which SEK 50 M for loss of revenue and higher costs, and SEK 50 M for the initial payment to the US Government. The second quarter was charged with SEK 75 M for loss of revenue and higher costs. Of the SEK 500 M stated above, SEK 175 M was charged to the first two quarters of the year.

st quarter, 2015 FDA 1	Mkr
EBITA result	-50
Restructuring charges	-50
Operating profit	-100
FDA 2nd quarter, 2015	Mkr
EBITA result	-75
Restructuring charges	0
Operating profit	-75
TOTAL Operating profit, June 30th 2015	-175

An additional payment of SEK 50 M may be liable if certain milestones set by the FDA in the enhancement program at Atrium's Hudson, New Hampshire facilities are not completed within six months of the first payment. This SEK 50 M payment is expected to be included in the total financial consequences stated above related to the Consent Decree, which are estimated to amount to approximately SEK 500 M.

Ongoing litigation case in the US

Medical Systems' subsidiary Atrium Medical Corporation is involved in litigation related to the sales and marketing of certain products.

A former employee of Atrium filed a complaint in U.S. federal court under seal. The complaint concerns alleged violations of the federal False Claims Act and similar state statutes. The United States Department of Justice and the various States declined to intervene and the case was unsealed. The former employee is litigating the case on her own.

A discovery phase is currently ongoing. Given the nature of the complaint, an adverse outcome of the process may affect the group's result and cash flow. It is, however, too early to assess whether, when and the extent to which such effect may occur and be accounted for. The trial date is currently scheduled for November 7, 2016.

Final phase of relocation of production of vascular implants to La Ciotat

As previously reported, Medical Systems is currently implementing a restructuring program with the aim of enhancing the production of vascular implants. The manufacturing of vascular implants is currently conducted at two plants in the business area. When the restructuring program is completed, all production of textile-based vascular implants will be concentrated to the production unit in the French city of La Ciotat. The move to La Ciotat has now reached the final phase and is expected to be completed in the third quarter of 2015.

Launch of Medical Systems' first turbine ventilator SERVO-air*

The business area launched its first turbine ventilator SERVO-air during the quarter. The ventilator was launched at the Africa Health medical congress held in Johannesburg, South Africa, and can be used at hospitals in parts of the world that do not always have access to air from wall outlets. The new ventilator will be of the same high quality as the other products in the SERVO series. The product has a CE marking and has been developed in close cooperation with physicians and nurses in India, South Africa, Japan and the US.

*Not available in the US.

NET SALES AND EBITA MARGIN

Extended Care business area

The Extended Care Business Area offers products and services geared toward the hospital and elderly care markets. The product range includes solutions for preventing the risk of pressure ulcers and deepvein thrombosis. The business area also features a vast selection of ergonomically designed products that facilitate daily tasks, such as lifting, transferring and patient hygiene.

ORDER INTAKE

Extended Care's organic order intake amounted to -4.1% (4.5) for the quarter. The performance in the North American market remained weak, primarily attributable to the rental operations for therapeutic mattresses, which has been experiencing an industry-wide decline for some time. The trend in Western Europe was slightly weaker than in the preceding year, with a weak performance in the UK partly offset by a healthy order intake in Germany and the Netherlands. In markets outside Western Europe and North America, Africa, Latin America and Australia generally reported solid order intakes for the quarter. In the BRIC countries, China and India performed positively, while a weak trend was reported in Brazil and Russia.

ORDER INTAKE PER MARKET

Order Intake, MSEK	Q2 2015	Q2 2014	Change %*	Jan-Jun 2015	Jan-Jun 2014	Change %*	Rolling 12M	FY 2014
Western Europe	842	817	-4,2%	1 748	1 663	-3,6%	3 475	3 391
USA and Canada	746	672	-9,0%	1 463	1 303	-8,5%	2 849	2 689
Rest of the world	393	328	5,6%	718	561	10,7%	1 295	1 137
Business Area total	1 981	1 817	-4,1%	3 929	3 527	-3,1%	7 619	7 217

*adjusted for currency rates, acquisitions and divestmentss

RESULTS

Extended Care's net sales declined organically by 1.0% (0.5), a trend that was largely attributable to the weaker performance in the US rental market.

The gross margin had a modest increase to 45.7% (45.6).

Cost control for the quarter was favorable and when adjusted for currency effects, both selling and administrative expenses declined.

Exchange-rate effects had a negative impact of SEK -17 M on EBITA, of which transaction effects accounted for SEK -25 M and translation effects for SEK 8 M.

EBITA was also adversely affected by a write-off of assets corresponding to SEK 100 M in the business area's US company. The EBITA margin amounted to 5.9% (9.9). Adjusted for the write-off of SEK 100 M, the EBITA result increased by 25% in the quarter.

Restructuring costs of SEK 13 M (5) were charged to earnings for the quarter.

	Q2 2015	Q2 2014	Change %	Jan-Jun 2015	Jan-Jun 2014	Change %	Rolling 12M	FY 2014
Net sales, MSEK	1 920	1 709	12,3%	3 893	3 404	14,4%	7 653	7 164
Adj. for x-rates, acquisi tions and divestments			-1,0%			-0,5%
Gross Profit	878	779	12,7%	1 788	1 606	11,3%	3 580	3 398
Gross margin, %	45,7%	45,6%	0,1%	45,9%	47,2%	-1,3%	46,8%	47,4%
Operating costs, MSEK	-797	-640	24,5%	-1 514	-1 256	20,5%	-2 752	-2 494
EBITA before restructur ing and integration costs	113	170	-33,5%	341	411	-17,0%	971	1 041
EBITA margin %	5,9%	9,9%	-4,0%	8,8%	12,1%	-3,3%	12,7%	14,5%
Acquisition expenses	-1	0		-1	0		-2	-1
Restructuring and inte gration costs, MSEK	-13	-5		-103	-6		-183	-86
EBIT	66	134	-50,7%	170	344	-50,6%	643	817
EBIT margin %	3,4%	7,8%	-4,4%	4,4%	10,1%	-5,7%	8,4%	11,4%

ACTIVITIES

Restructuring activities

As previously announced, the weak performance of the rental market led to the business area extensively restructuring its rental operations in the US. During the first quarter of the year, the number of rental depots was reduced from 86 to 58 and the number of employees in the sales organization was reduced by about 85 individuals. The restructuring of the sales organization resulted in more efficient processes that are better adapted to the competitive market. Restructuring costs for the first quarter related to the remediation program amounted to about SEK 77 M. Activities are proceeding according to plan and no restructuring costs for activities were charged to the second quarter. The restructuring of the rental operations is expected to generate savings of about SEK 106 M for the full-year 2015 and about SEK 123 M for the full-year 2016. At the end of the second quarter, savings for 2015 totaled SEK 41 M.

As a result of the extensive restructuring activities implemented in the business area's US operations, a write-off corresponding to SEK 100 M was made during the quarter of some of the US company assets.

An additional rental depot in the global rental operations, in Haydock, UK, was closed during the quarter. The operations previously conducted at the Haydock depot will be relocated to one of the business area's other depots. The restructuring cost for the activity amounted to SEK 7 M for the quarter.

Restructuring measures were carried out in the first quarter to optimize the geographic location of the research and development function and to ensure focused project prioritization. These activities have now been completed and the quarter was charged with restructuring costs of approximately SEK 4 M, in addition to the SEK 11 M charged to the first quarter of the year. The restructuring is expected to generate annual savings of about SEK 13 M.

Launch of Citadel Patient Care System

Extended Care launched the Citadel Patient Care System during the quarter. Citadel, which is part of the business area's range of medical beds, is a system that provides flexible patient care for hospitals that demand safety, security and efficiency from their bed frames and therapeutic mattresses in a number of care environments from critical care to medicine and surgery.

NET SALES AND EBITA MARGIN

Infection Control business area

The Infection Control Business Area offers an expansive range of disinfection and sterilization equipment, designed to suit the needs of hospitals, clinics, and within the life science industry. The business area features a full range of accessories to ensure consistent, secure, ergonomic and economic flow and storage of sterile goods.

ORDER INTAKE

The order intake increased organically by 1.6% (-0.9) during the quarter. The order intake was positive in the North American market in both the hospital and life science segments. In Western Europe, mainly the Nordic countries, UK and Benelux region contributed to the positive development. In addition, the markets in southern Europe also reported favorable performances. The order intake for the BRIC countries remained weak, particularly in Russia and Brazil, which declined considerably year-on-year. The trend in other markets in the rest of the world was generally weak. The life science segment performed positively during the quarter. The business area's focus on recurring revenue also performed well and made a positive contribution to the quarter's order intake.

ORDER INTAKE PER MARKET

Order Intake, MSEK	Q2 2015	Q2 2014	Change %*	Jan-Jun 2015	Jan-Jun 2014	Change %*	Rolling 12M	FY 2014
Western Europe	644	595	2,8%	1 269	1 165	2,5%	2 395	2 291
USA and Canada	522	388	6,7%	1 007	791	0,5%	1 893	1 677
Rest of the world	444	432	-4,7%	878	788	0,2%	1 661	1 571
Business Area total	1 610	1 415	1,6%	3 154	2 744	1,3%	5 949	5 539

*adjusted for currency rates, acquisitions and divestments

RESULTS

Net sales declined organically by 0.1% (7.6). Western Europe noted a strong performance for the quarter, particularly in the life science segment, while North America and the markets outside Western Europe and North America performed more weakly. The lower gross margin of 34.5% (36.4) was primarily attributable to lower utilization of the business area's capital goods plants.

The increase in costs for the quarter was primarily due to the previously completed acquisitions of Altrax and Austmel.

Exchange-rate effects had a positive impact of SEK 10 M on EBITA, of which transaction effects accounted for SEK -3 M and translation effects for SEK 13 M.

The EBITA margin fell to 6.9% (10.2) due to a lower gross margin and increase operating expenses. Earnings were charged with restructuring costs of SEK 44 M (9) regarding the business area's efficiency-enhancement program.

	Q2 2015	Q2 2014	Change %	Jan-Jun 2015	Jan-Jun 2014	Change %	Rolling 12M	FY 2014
Net sales, MSEK	1 480	1 320	12,1%	2 788	2 437	14,4%	5 751	5 400
Adj. for x-rates, acquisi tions and divestments			-0,1%			0,7%
Gross Profit	511	481	6,2%	960	878	9,3%	2 038	1 956
Gross margin, %	34,5%	36,4%	-1,9%	34,4%	36,0%	-1,6%	35,4%	36,2%
Operating costs, MSEK	-414	-349	18,6%	-809	-680	19,0%	-1 509	-1 380
EBITA before restructur
ing and integration costs	103	135	-23,7%	162	205	-20,9%	549	592
EBITA margin %	6,9%	10,2%	-3,3%	5,8%	8,4%	-2,6%	9,5%	11,0%
Acquisition expenses	-1	-1		-1	-1		-6	-6
Restructuring and inte gration costs, MSEK	-44	-9		-68	-17		-85	-34
EBIT	53	122	-56,6%	82	180	-54,4%	438	536
EBIT margin %	3,6%	9,2%	-5,6%	2,9%	7,4%	-4,5%	7,6%	9,9%

ACTIVITIES

Restructuring activities

Within the framework of the ongoing efficiency-enhancement program, the following activities were implemented during the second quarter.

The business area announced its intention to relocate the production conducted at the production unit in Rochester, New York, US to the production unit in Poznan, Poland. About 80 employees will be affected by the relocation, which is expected to be completed during the fourth quarter of 2015. The quarter was charged with restructuring costs of SEK 33 M related to this activity, which is expected to lead to annual savings of approximately SEK 45 M from the second quarter of 2016.

To strengthen the Group's continued expansion in emerging markets, activities were also carried out to support the restructuring that has been initiated in selected markets, with the three business areas merging to form a single Group-wide unit. The quarter was charged with restructuring costs of approximately SEK 4 M pertaining to these activities.

During the first quarter, the business area completed negotiations with trade-union representatives regarding the relocation of Getinge's production of flusher-disinfectors from Växjö, Sweden, to Poznan, Poland. The quarter was charged with restructuring costs of approximately SEK 2 M related to this activity, in addition to the SEK 5 M charged to the first quarter of the year. This activity is expected to lead to annual savings of approximately SEK 13 M from the fourth quarter of 2015.

In line with the coordination of the business area's production units, additional activities are being carried out in the supply chain, for which restructuring costs amounted to about SEK 6 M for the quarter.

Other information

KEY EVENTS AFTER THE END OF THE REPORTING PERIOD

There are no key events to report after the end of the reporting period

RISK MANAGEMENT

Healthcare reimbursement system

Political decisions represent the single greatest market risk to the Getinge Group. Changes to the healthcare reimbursement system can have a major impact on individual markets by reducing or deferring grants. Since Getinge is active in a large number of geographical markets, the risk for the Group as a whole is limited.

Customers

Activities conducted by Getinge's customers are generally financed directly or indirectly by public funds and ability to pay is usually very solid, although payment behavior can vary between different countries. All transactions outside the OECD area are covered by payment guarantees, unless the customer's ability to pay is well documented.

Authorities and control bodies

Parts of Getinge's product range are covered by legislation stipulating rigorous assessments, quality control and documentation. It cannot be ruled out that Getinge's operations, financial position and earnings may be negatively impacted in the future by difficulties in complying with current regulations and requirements of authorities and control bodies or changes to such regulations and requirements. To limit these risks to the greatest possible extent, Getinge conducts extensive work focused on quality and regulatory issues. Each business area has an appointed person with overall responsibility for quality and regulatory matters (QRM). In addition, the Group has a Group-wide function for quality and regulatory issues that coordinates and leads work on developing efficient shared processes for the Group as a whole. The majority of the Group's production facilities are certified according to the medical device quality standard ISO 13485 and/or the general quality standard ISO 9001.

Research and development

To a certain extent, Getinge's future growth depends on the company's ability to develop new and successful products. Research and development efforts are costly and it is impossible to guarantee that developed products will be commercially successful. As a means of maximizing the return on research and development efforts, the Group has a very structured selection and planning process to ensure that the company prioritizes correctly when choosing which potential projects to pursue. This process comprises thorough analysis of the market, technical development and choice of production method and subcontractors. The actual development work is also conducted in a structured manner and each project undergoes a number of fixed control points.

Product liability and damage claims

Healthcare suppliers run a risk, like other players in the healthcare industry, of being subject to claims relating to product liability and other legal claims. Such claims can involve large amounts and significant legal expenses. Getinge cannot provide any guarantees that its operations will not be subject to compensation claims. A comprehensive insurance program is in place to cover any property or liability risks (e.g. product liability) to which the Group is exposed.

Protection of intellectual property

The Getinge Group is a market leader in the areas in which it operates and invests significant amounts in product development. To secure returns on these investments, the Group actively upholds its rights and monitors competitors' activities closely. If required, the company will protect its intellectual property rights through legal processes.

Financial risk management

Getinge is exposed to a number of financial risks in its operations. Financial risks principally pertain to risks related to currency and interest-rate risks, as well as credit risks. Risk management is regulated by the finance policy adopted by the Board. The ultimate responsibility for managing the Group's financial risks and developing methods and principles of financial risk management lies with Group management and the treasury function. The main financial risks to which the Group is exposed are currency risks, interest-rate risks and credit and counterparty risks.

SEASONAL VARIATIONS

Getinge's earnings are affected by seasonal variations. The first quarter is normally weak in relation to the remainder of the fiscal year. The third and fourth quarter are usually the Group's strongest quarters.

TRANSACTIONS WITH RELATED PARTIES

Getinge had no significant transactions with related parties other than transactions with subsidiaries.

ACCOUNTING

This interim report has been prepared for the Group 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 and RFR 2. The accounting policies adopted are consistent with those applied for the 2014 Annual Report and should be read in conjunction with that Annual Report.

FORWARD-LOOKING INFORMATION

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

ASSURANCE

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

Gothenburg, July 15, 2015
Johan Bygge	Cecilia Daun Wennborg
Rickard Karlsson	Carola Lemne
Malin Persson	Johan Stern
Maths Wahlström

This interim report is unaudited.

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

Consolidated income statement

	Q2	Q2		Jan-Jun	Jan-Jun		Rolling	FY
MSEK	2015	2014	Change %	2015	2014	Change %	12M	2014
Net sales	7 181	6 327	13,5%	13 893	11 959	16,2%	28 603	26 669
Cost of goods sold	-3 850	-3 244	18,7%	-7 420	-6 098	21,7%	-14 881	-13 559
Gross profit	3 331	3 083	8,0%	6 473	5 861	10,4%	13 722	13 110
Selling expenses	-1 684	-1 448	16,3%	-3 362	-2 832	18,7%	-6 302	-5 772
Administrative expenses	-874	-708	23,4%	-1 730	-1 385	24,9%	-3 169	-2 824
Research & development costs1	-144	-160	-10,0%	-301	-324	-7,1%	-574	-597
Acquisition expenses	-11	-5	120,0%	-20	-9	122,2%	-49	-38
Restructuring and integration costs	-86	-27		-270	-841	-68,0%	-591	-1 162
Other operating income and expenses	-104	-22		-28	-51	-45,1%	-48	-71
Operating profit2	428	713	-40,0%	762	419	81,9%	2 989	2 646
Financial Net	-185	-164	12,8%	-374	-322	16,1%	-711	-659
Profit before tax	243	549	-55,7%	388	97		2 278	1 987
Taxes	-66	-148	-55,4%	-105	-26		-618	-539
Net profit	177	401	-55,9%	283	71		1 660	1 448
Attributable to:
Parent company's shareholders	170	397		259	70			1 433
Non-controlling interest	7	4		24	1			15
Net profit	177	401		283	71			1 448
Earnings per share3	0,71	1,67	-57,5%	1,09	0,29	275,9%	6,81	6,01
Adjusted Earnings per share	1,62	2,27	-28,6%	3,24	3,85	-15,8%	11,14	11,75
Operative key figures %	Q2 2015	Q2 2014		Jan-Jun 2015	Jan-Jun 2014		Rolling 12M	FY 2014
Gross margin	46,4	48,7		46,6	49,0		47,9	49,2
Selling expenses in % of net sales	23,5	22,8		24,2	23,7		22,0	21,6
Administrative expenses in % of net sales	12,2	11,2		12,5	11,6		11,1	10,6
Research & development costs in % of net sales	4,7	4,9		4,7	5,3		2,0	4,8
Operating margin	6,0	11,3		5,5	3,5		10,4	9,9

	Q2	Q2		Jan-Jun	Jan-Jun		Rolling	FY
MSEK	2015	2014	Change %	2015	2014	Change %	12M	2014
1 Research & development costs	-336	-313	7,3%	-647	-634	2,1%	-1 283	-1 270
of which has been capitalised	192	153	25,5%	346	310	11,6%	709	673
	-144	-160	-10,0%	-301	-324	-7,1%	-574	-597

2 Operating profit is charged with depreciations on

	-609	-518	17,6%	-1 210	-1 008	20,0%	-2 321	-2 119
on other fixed assets	-245	-213	15,0%	-489	-421	16,2%	-940	-872
intangibles	-174	-145	20,0%	-342	-281	21,7%	-653	-592
intangibles on acquired companies	-190	-160	18,8%	-379	-306	23,9%	-728	-655

3 There are no dilutions

Comprehensive earnings statement

	Q2	Q2			Rolling	FY
MSEK	2015	2014	Jan-Jun 2015	Jan-Jun 2014	12M	2014
Net profit for the period	177	401	283	71	1 660	1 448
Items that cannot be restated in profit for the period
Actuarial gains/losses pertaining to defined-benefit pen
sion plans	67	-	67	-	-599	-666
Income tax attributable to components in other compre
hensive income	-13	-	-13	-	180	193
Items that can later be restated in profit for the period
Translation differences	-343	681	504	711	1 723	1 930
Cash-flow hedges	483	-289	-36	-477	329	-112
Income tax attributable to components in other compre
hensive income	-107	78	8	129	-91	30
Other comprehensive income/loss for the period, net
after tax	87	470	530	363	1 542	1 375
Total comprehensive income for the period	264	871	813	434	3 202	2 823
Comprehensive income attributable to
Parent Company's shareholders	257	871	789	433	3 156	2 800
Non-controlling interest	7	-	24	1	46	23

Quarterly results

	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2
MSEK	2013	2013	2014	2014	2014	2014	2015	2015
Net sales	5 850	7 757	5 632	6 327	6 224	8 458	6 712	7 181
Cost of goods sold	-2 986	-3 764	-2 854	-3 244	-3 176	-4 279	-3 570	-3 850
Gross profit	2 864	3 993	2 778	3 083	3 048	4 179	3 142	3 331
Operating costs	-2 149	-2 134	-3 072	-2 370	-2 369	-2 641	-2 807	-2 903
Operating profit	715	1 859	-294	713	679	1 538	335	428
Financial Net	-147	-150	-158	-164	-170	-167	-189	-185
Profit before tax	568	1 709	-452	549	509	1 371	146	243
Taxes	-153	-468	122	-148	-140	-376	-39	-66
Net profit	415	1 241	-330	401	369	995	107	177

Segment overview

Net Sales, MSEK	Q2 2015	Q2 2014	Change %	Jan-Jun 2015	Jan-Jun 2014	Change %	Rolling 12M	FY 2014
Medical Systems	3 781	3 298	14,6%	7 212	6 118	17,9%	15 199	14 105
Extended Care	1 920	1 709	12,4%	3 893	3 404	14,4%	7 653	7 164
Infection Control	1 480	1 320	12,2%	2 788	2 437	14,4%	5 751	5 400
Total net sales for the group	7 181	6 327	13,5%	13 893	11 959	16,2%	28 603	26 669

	Q2	Q2		Jan-Jun	Jan-Jun		Rolling	FY
Operating profit, MSEK	2015	2014	Change %	2015	2014	Change %	12M	2014
Medical Systems	309	455	-32,1%	510	-106		1 908	1 292
Extended Care	66	134	-50,7%	170	344	-50,7%	643	817
Infection Control	53	122	-56,5%	82	180	-54,3%	438	536
Operating profit	428	711	-39,8%	762	418	82,3%	2 989	2 645
Financial Net	-185	-164	12,8%	-374	-322	16,1%	-711	-659
Profit before tax for the group	243	547	-55,7%	388	96		2 278	1 986

Consolidated balance sheet

	2015	2014	2014
Assets, MSEK	30-June	30-June	31-Dec
Intangible assets	27 120	23 883	26 561
Capitalised Development Projects	3 602	3 213	3 503
Tangible fixed assets	4 857	4 551	4 971
Financial fixed assets	1 541	801	1 410
Stock-in-trade	5 881	5 061	5 245
Accounts receivable	6 196	5 814	7 362
Other current receivables	2 841	2 559	2 284
Cash and cash equivalents	1 392	1 064	1 482
Total assets	53 430	46 946	52 818
	2015	2014	2014
Shareholders' equity & Liabilities, MSEK	30-June	30-June	31-Dec
Shareholders' equity	18 825	16 284	18 694
Pension Provision	3 145	2 385	3 271
Other interest bearing liabilities	21 593	19 094	20 752
Other Provisions	2 414	2 585	2 578
Accounts Payable - trade	1 915	1 908	2 083
Other non interets-bearing liabilities	5 538	4 690	5 440
Total Equity & Liabilities	53 430	46 946	52 818

Consolidated net interest-bearing debt

MSEK	2015 30-June	2014 30-June	2014 31-Dec
Debt to credit institutions	21 593	19 094	20 752
Provisions for pensions, interest-bearing	3 145	2 385	3 271
Interest bearing liabilities	24 738	21 479	24 023
Less liquid funds	-1 392	-1 064	-1 482
Net interest-bearing debt	23 346	20 415	22 541

FINANCIAL ASSETS AND LIABILITIES MEASURED AT FAIR VALUE

Measurement methods used to calculate fair values in Level 2

Derivatives at Level 2 comprise currency futures and interest-rate swaps, and are used for hedging purposes. Fair value measurements for currency futures are based on published futures rates in an active market. The measurement of interest-rate swaps is based on interest rate futures calculated on the basis of observable yield curves. The discount does not have any material impact on the measurement of derivatives in Level 2.

Fair value hierarchy

At June 30, 2015, the Group held derivatives for hedging purposes at Level 2 in which the assets totaled SEK 235 M and liabilities SEK 1,305 M. The corresponding figures at December 31, 2014 were SEK 304 M and SEK 1,338 M, respectively. Since the Group only holds financial derivatives measured at Level 2, there were no transfers among the measurement categories between the quarters.

	2015	2014	2014
MSEK	30-June	30-June	31-Dec
Long-term liabilities	14 819	12 341	14 036
Current liabilities	6 304	6 793	6 284
Total	21 123	19 134	20 320

Other financial assets and liabilities

The fair value of the financial assets and liabilities listed below is estimated to be equivalent to their carrying amount in all material respects:

• Accounts receivable and other receivables
• Other current receivables
• Bank balances and other cash and cash equivalents
• Accounts payable and other liabilities
• Other assets and liabilities

Disclosures regarding net recognition of financial assets and liabilities

Loans and financial instruments in the Group, recognized gross

MSEK	Assets	Liabilities	Net
Loans	-	-21 123	-21 123
Interest-rate derivatives	-	-540	-540
Fx-derivatives	235	-765	-530
Total	235	-22 428	-22 193

The Group has ISDA agreements for all of its significant counterparties for raising funds and trading in financial instruments. For the financial assets and liabilities that are subject to legally binding offset agreements or similar, each agreement between the company and its counterparties permits the relevant financial assets and liabilities to be offset. The Group has netted the value of the Group's basis swaps against loans in the balance sheet. The value of the netted basis swaps was a negative SEK -470 M at June 30, 2015 (-432 at December 31, 2014).

The Group does not apply net recognition for any of its other significant assets and liabilities.

Consolidated cash-flow statement

	Q2	Q2	Jan-Jun	Jan-Jun	Rolling	FY
MSEK	2015	2014	2015	2014	12M	2014
Current activities
EBITDA	1 037	1 231	1 973	1 427	5 311	4 765
Restructuring Cost expenses	86	27	270	841	591	1 162
Restructuring costs paid	-179	-179	-447	-408	-790	-751
Adjustment for items not included in cash flow	12	32	16	33	30	47
Financial items	-185	-164	-374	-322	-711	-659
Taxes paid	-254	-195	-526	-458	-858	-790
Cash flow before changes in working capital	517	752	912	1 113	3 573	3 774
Changes in working capital
Stock-in-trade	-171	-229	-536	-549	-408	-421
Current receivables	216	191	927	646	239	-42
Current operating liabilities	36	187	-51	129	-18	162
Cash flow from operations	598	901	1 252	1 339	3 386	3 473
Investments
Acquisitions and divestments of business	0	-51	297	-1 022	83	-1 236
Capitalized development costs	-192	-153	-346	-310	-709	-673
Rental equipment	-63	-41	-132	-110	-243	-221
Investments in tangible fixed assets	-190	-316	-378	-488	-835	-945
Cash flow from investments	-445	-561	-559	-1 930	-1 704	-3 075
Financial activities	-519		715
Change in interest-bearing debt		153		2 012	2 786	4 083
Change in long-term receivables	15	6	0	48	-127	-79
Dividend paid	-682	0	-682	-989	-686	-993
Cash flow from financial activities	-1 186	159	33	1 071	1 973	3 011
Cash flow for the period	-1 033	499	726	480	3 655	3 409
Cash and cash equivalents at the beginning of the period	2 027	1 155	1 482	1 148	1 482	1 148
Translation differences	398	-590	-816	-564	-3 327	-3 075
Cash and cash equivalents at the end of the period	1 392	1 064	1 392	1 064	1 810	1 482

Changes in shareholders' equity

MSEK	Share capital	Other Capital provided	Reserves	Retained earnings	Total	Non-controlling interest	Total equity
Opening balance on 1 January 2014	119	5 960	-1 993	12 445	16 531	29	16 560
Total comprehensive earnings for the period	-	-	1 840	960	2 800	23	2 823
Arising in connection with acqusitions	-	-	-	-	-	304	304
Dividend	-	-	-	-989	-989	-4	-993
Closing balance on 31 December 2014	119	5 960	-153	12 416	18 342	352	18 694
Opening balance on 1 January 2015
Total comprehensive earnings for the period	119 -	5 960 -	-153 476	12 416 313	18 342 789	352 24	18 694 813
Dividend	-	-	-	-667	-667	-15	-682

Key figures for the Group

	Q2	Q2		Jan-Jun	Jan-Jun		Rolling	FY
	2015	2014	Change %	2015	2014	Change %	12M	2014
Order intake, MSEK	7 516	6 651	13,0%	14 708	12 628	16,5%	28 897	26 817
Adj. for x-rates, acquisitions and divestments			-0,7%			0,7%
Net sales, MSEK	7 181	6 327	13,5%	13 893	11 959	16,2%	28 603	26 669
Adj. for x-rates, acquisitions and divestments			-0,4 %			0,4%
Gross margin	46,4%	48,8%	-2,4%	46,6%	49,1%	-2,5%	47,9%	49,2%
EBITA before restructuring-, integration- and acquisition costs	715	905	-21,0%	1 432	1 575	-9,1%	4 358	4 501
EBITA margin before restructuring-, integration
and acquisition costs	10,0%	14,3%	-4,3%	10,3%	13,2%	-2,9%	15,2%	16,9%
Restructuring and integration costs	-86	-27		-270	-841	-68,0%	-591	-1 162
Acquisition costs	-11	-5	120,0%	-20	-9	122,2%	-49	-38
EBITA	618	873	29,2%	1 142	725	57,5%	3 718	3 301
EBITA margin	8,6%	13,8%	-5,2%	8,2%	6,1%	2,1%	13,0%	12,4%
Earnings per share after full tax, SEK	0,71	1,67	-57,5%	1,09	0,29		6,81	6,01
Adjusted earnings per share, SEK	1,62	2,27	-28,6%	3,24	3,85	-15,8%	11,14	11,75
Number of shares, thousands	238 323	238 323		238 323	238 323		238 323	238 323
Interest cover, multiple				5,0	6,3	-1,3		5,7
Operating capital, MSEK				39 407	32 910	19,7%		36 529
Return on operating capital, per cent				9,2%	12,7%	-3,5%		8,2 %
Return on equity, per cent				6,6%	10,5%	-3,9%		10,4%
Net debt/equity ratio, multiple				1,24	1,25	-0,01		1,21
Cash Conversion	57,7%	73,1%	-15,4%	63,4%	93,8%	-30,4%	63,8%	72,9%
Equity/assets ratio, per cent				35,2%	34,7%	0,5%		35,4%
Equity per share, SEK				79,0	67,8	16,5%		78,4
Number of employees				15 834	15 399	2,8%		15 747

Five-year review

	2015	2014	2013	2012	2011
MSEK	June 30	June 30	June 30	June 30	June 30
Net Sales	13 893	11 959	11 680	10 858	9 634
Net profit	283	71	641	951	905
Earnings per share	1,09	0,29	2,67	3,98	3,78

Income statement for the Parent Company

MSEK Administrative expenses	Q2 2015 -73	Q2 2014 -47	Change % 55,3%	Jan-Jun 2015 -124	Jan-Jun 2014 -86	Change % 44,2%	FY 2014 -164
Operating profit	-73	-47	55,3%	-124	-86	44,2%	-164
Financial net	745	-741		-819	-415	97,3%	679
Profit after financial items	672	-788		-943	-501	-88,2%	515
Profit before tax	672	-788		-943	-501	-88,2%	515
Taxes	-5	-		-6	-2		-12
Net profit	667	-788		-949	-503	-88,7%	503

Receivables and liabilities in foreign currencies were measured at the closing day rate, and a loss of MSEK 246 (profit: 219) is included in net financial items for the period January-June.

Balance sheet for the Parent Company

Assets, MSEK	2015 30-June	2014 30-June	2014 31-Dec
Tangible fixed assets	60	47	45
Shares in group companies	25 081	24 830	24 869
Deferred tax assets	43	27	43
Receivable from group companies	5 347	3 658	5 716
Short-term receivables	105	111	49
Liquid funds	-	-	801
Total assets	30 636	28 673	31 523
	2015	2014	2014
Shareholders' equity & Liabilities, MSEK	30-June	30-June	31-Dec
Shareholders' equity	6 964	7 581	8 582
Long-term liabilities	15 193	14 670	14 282
Liabilities to group companies	2 255	2 172	2 309
Current liabilities	6 224	4 250	6 350
Total Equity & Liabilities	30 636	28 673	31 523

Acquisitions during 2015

No acquisitions has taken place in 2015.

TELECONFERENCE

Teleconference with CEO Alex Myers and CFO Ulf Grunander on July 15, 2015 at 10.00 am CET

Sweden: +46 (0) 8 5033 6539 UK: +44 (0) 20 3427 1916 US: +1 212 444 0895 Code: 6769502

During the telephone conference, a presentation will be held. To access the presentation, please use this link: http://www.livemeeting.com/cc/premconfeurope/join?id=6769502&role=attend&pw=pw4889

NEXT REPORT

The next report from the Getinge Group (third quarter of 2015) will be published on October 15, 2015.

DEFINITIONS

MEDICAL TERMS

EBIT EBITA	Operating profit Operating profit before amortization of	Cardiovascular	Pertaining or belonging to both heart and blood vessels.
	intangible assets identified in conjunc tion with corporate acquisitions	Cardiopulmonary	Pertaining or belonging to both heart and blood vessels.
EBITDA	Operating profit before depreciation and amortization	Cath lab	Short for "catheterization laboratory" – a laboratory or smaller operating room
Cash conversion	Cash flow from operating activities as a percentage of EBITDA.		that is equipped for interventional car diology/minimally invasive cardiovas
Adj. earningsper share	Net profit for the year adjusted for acquisition, restructuring and integra tion costs, and amortization of intangi ble assets on acquired companies di vided by number of shares (average number).	Sterilizer	cular procedures A type of pressure-cooker for steriliza tion.

CONTACT

Kornelia Rasmussen, Head of Group Communications +46 10 335 5810 kornelia.rasmussen@getinge.com

Getinge AB

Box 8861, SE-402 72 Gothenburg Tel: +46 (0) 10 335 00 00 E-mail: info@getinge.com Corporate registration number 556408-5032 www.getingegroup.com

ABOUT GETINGE

Getinge is a globally leading medical technology company that operates in the areas of surgery, intensive care, infection control, care ergonomics and wound care. Getinge has nearly 16,000 employees in over 40 countries and generates sales of about SEK 27 billion (2014). The Group is divided into three business areas: Medical Systems, Extended Care and Infection Control and operates under the brands of Maquet, ArjoHuntleigh and Getinge.