Getinge AB (publ)

Welcome to the Jettinga Q2 Report 2026. During the questions and answers session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to the speakers, CEO Matthias Peerjus and CFO Agneta Palmer. Please go ahead. The live has now started.

Hi everyone and welcome to today's conference call. With me today I have Agneta Palmier, our CFO, and in today's conference we'll go through our performance and some highlights for the second quarter before opening up for a Q&A. So we can move over to page number two, please. And as usual, let's start by looking at the development of our strategic KPIs. We continue to clearly track in line with plan to increase the share of sales from recurring revenue, accelerating the share of sales from high-margin products like, for example, our ECLS offering, consumables in infection control, and beta bags in sterile transfer. This is all supported by solid and effective quality processes and sales from recurring revenue continue to make up about two thirds and high margin products are now at 70%. For quality, the number of field actions in relation to sales has decreased significantly and we're pacing a lot better than last year. These improvements should of course be achieved through responsible leverage and also an attractive long-term return on invested capital. With that we can move over to page number three, please. So if we zoom in on the second quarter and some of the financial key takeaways for the quarter. Overall, we deliver a healthy financial performance in the quarter with solid top line growth. Net sales grew 4.6% organically and with positive development in most of the business areas. Order intake increased by 6.2% organically. Adjusted gross and EBITDA margins were up in the quarter as a result of the tariff refund and also continued positive underlying performance in our business. This led to a strong cash flow and a strong financial position with financial leverage at 1.7 times, so well below the 2.5 times CBTA as we have as our internal threshold. We can then move over to page number four and some of the key events in the quarter. So we take a step back here and look at some of the key events in our business across the second quarter when it comes to the offering and customers. So we continue to be innovative and in the quarter we launched three products which will benefit customers and patients. We have launched the Aquatis Endo 110 which is the next generation of automated endoscope reprocessing while the Fluorbeam LS expands the fluorescence imaging portfolio for small incision surgery. We also launched VasiView Hemopro3, which is the latest evolution of our EVH platform, supporting coronary artery bypass grafting procedures. And in Hamburg, in Germany, we opened a digital OVAR innovation center with the purpose of accelerating the path to a more intelligent perioperative workflow. Furthermore in surgical workflows we strengthened our infection prevention offering in endoscopy by acquiring Penamed, a UK-based distributor of endoscopic consumables.

We of course also monitor the situation in the Middle East closely.