STOCKHOLM, Nov 22 (Reuters) - Swedish medical equipment
supplier Getinge on Monday raised its financial
targets for 2022-2025 as positive effects of the COVID-19
pandemic are felt across its business.
Getinge Chief Executive Mattias Perjos said hospitals taking
on surgeries postponed due to the coronavirus pandemic,
infection control becoming increasingly important, and the
COVID-19 vaccination roll-out would help drive sales, as well as
underlying demand growth seen already before the pandemic.
"We have tried to see through all the moving parts and dust
that the pandemic has stirred up and form an opinion on our
end-markets," Perjos told Reuters.
"On average we see that growth is accelerating and our
entire portfolio is gravitating towards higher-growth markets
such as ECMO, sterile transfer and biopharmaceutical research
and production," he added.
Getinge said in a statement ahead of investor presentations
that it aimed to grow adjusted earnings per share by 10%
annually on the back of a widening of its operating profit
before amortisation margin to 21% or more by the end of the
period, and annual like-for-like sales growth of 4-6%.
Getinge's previous targets were for a 10% rise in earnings
per share and organic sales growth of 2-4%. In the 20182020
period, organic sales were up 9.9%, while earnings grew 22.4%.
In 2020, Getinge's organic sales jumped 14% due to strong
demand for advanced intensive care unit ventilators and products
such as extracorporeal membrane oxygenation (ECMO) machines - a
kind of artificial lung used in the treatment of COVID patients.
Its earnings per share roughly doubled to 14.43 crowns,
while the margin increased to 19.2% from 12.5%.
Shares in Getinge were up 0.4% at 1510 GMT.
(Reporting by Anna Ringstrom; Editing by Niklas Pollard and