Getinge tops profit estimates, explores ways to lessen tariff hit
Shares of the Swedish group, which makes more than a third of its sales in the United States, were up nearly 7% by 0813 GMT, among top performers on Europe's benchmark STOXX 600 index (.STOXX), opens new tab.
"We were once again successful in adjusting prices, but short term we have been forced to absorb most of the tariff costs," CEO Mattias Perjos said in a statement.
The price increases were 2% on average, Perjos told Reuters, but said there was "a limit to how much can be done with pricing".
"We are also analyzing opportunities to adapt the company's costs and supply chain over time to this new reality," he said in the statement.
Among potential short-term measures, Getinge is looking at whether it can adjust some sourcing of key components or move its products' final assembly to the U.S., Canada or Mexico, depending on how the trade regulations evolve, Perjos added in the interview.
Getinge's adjusted earnings before interest, taxes and amortisation rose 0.8% to 989 million Swedish crowns ($101.7 million) in the quarter. Analysts were expecting 921 million on average, a company-provided poll, opens new tab showed.
The earnings beat was mainly driven by the Surgical Workflows business area, while contributions from acquisitions and price hikes supported margins, analysts from J.P.Morgan said in a note.
The maker of products for surgery, intensive care and sterilisation said the core profit included a nearly 270 million crown loss caused by U.S. President Donald Trump's import duties and negative currency effects compared to last year.
Getinge reiterated its 2025 guidance for organic sales growth of between 2% and 5%.
($1 = 9.7257 Swedish crowns)
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