November 10, 2017 / 7:02 AM / 2 years ago

UPDATE 1-Getinge sets new financial targets ahead of Arjo listing

(Adds detail, background)

Nov 10 (Reuters) - Swedish medical technology firm Getinge on Friday announced new financial targets following the proposed distribution and separate listing of its patient & post-acute care business, now called Arjo.

* Says ‍focus is on organic growth and Getinge foresees an organic market growth of 2-4 pct on average during 2017-2020 in addressable market​

* Says ‍Getinge’s organic growth in net sales is expected to increase gradually during 2018 and move closer to expected market growth on a run-rate basis by end of 2018​

* Says targets ‍average growth in organic net sales of 2-4 pct​

* Says ‍target average earnings per share growth: >10%​

* Says ‍dividend policy: 30-50% of net income

* Says priority for Getinge going forward is to strengthen the product and service offering in prioritized segments for the customers within the business areas Acute Care Therapies and Surgical Workflows

* Says “furthermore, the company will put additional focus and continue to develop an attractive offering towards selected parts of the growing value segment”

* Says also has the intention to introduce Life Science as a separate Business Area as from January 1, 2018

* Says Arjo’s shares of series B will be listed on Nasdaq Stockholm on December 12, 2017

* Says ‍Arjo’s board of directors has adopted following medium term financial targets:​

* -Average annual organic sales growth of at least 2-4 percent​ -Average annual EBITDA growth of at least 10 percent​ -Cash conversion exceeding 70 percent ​ Source text for Eikon: Further company coverage: (Reporting by Johannes Hellstrom)

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