Swedish medical technology company Getinge AB on Tuesday reported strong third-quarter sales growth and improved profitability, navigating significant headwinds from tariffs and currency fluctuations.
Net sales grew 9.5% on an organic basis, which excludes acquisitions and currency effects, while order intake rose 4.7%, the company said.
Adjusted earnings before interest, taxes, and amortization (EBITA) rose to 1.08 billion Swedish kronor from 903 million kronor a year earlier, despite a negative impact of 236 million kronor from tariffs and currency effects.
"We demonstrated strength in the third quarter with significant organic growth, improved profitability and cash flow despite impacts from tariffs and negative currency effects," said President and CEO Mattias Perjos.
The company attributed the performance to high demand for ventilators and record sales in its Life Science and Surgical Workflows divisions.
During the quarter, Getinge regained the European CE Mark for its Cardiosave intra-aortic balloon pump, with deliveries expected to resume in the fourth quarter.
The company reiterated its financial targets, citing successful cost efficiency efforts and control over material costs.
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Swedish medical technology company Getinge AB on Friday reported higher second-quarter sales and improved margins, even as it absorbed significant new tariff costs.