Getinge 2022 Annual Report
Getinge 2022 Annual Report
Introduction
Strategy
Corporate Governance
Annual Report
Sustainability Report
Other information
Contents
The performance by the CEO during the reported financial year - long-term variable remuneration
Criteria for determination of long-term variable remuneration for the CEO and outcome, SEK 000s
Executive
Mattias Perjos, CEO
Long-term incentive program (LTI)
Performance target¹)
Outcome of performance target
LTI 2020-2022
LTI 2020-2022
LTI 2020-2022
Adjusted earnings per share 2020
Adjusted earnings per share 2021
Adjusted earnings per share 2022
SEK 13.19
SEK 12.11
SEK 10.75
LTI 2021-2023
LTI 2021-2023
LTI 2022-2024
Adjusted earnings per share 2021
Adjusted earnings per share 2022
Adjusted earnings per share 2022-2024
Variable remuneration per
performance target²)
_3)
SEK 12.11
SEK 10.75
3,847
0
1) The performance targets in the Group's long-term variable remuneration schemes are earnings per share, adjusted for acquisitions, divestments, restructuring costs and other material non-recurrent costs.
2) At the end of the year, the total provision for earned LTI-bonus to the CEO amounted to SEK 7,786 K, whereof SEK 3,939 K will be paid during 2023. The vesting period for the group's long-term incentive scheme is three years and the remuneration is
conditioned by the CEO remaining at his position at the end of the vesting period. In 2021, before the rule was added to the remuneration guidelines, the Board of Directors discretionarily decided in 2021 to apply one additional limitation on payment
of LTI-bonus to the CEO, meaning that payment of short-term and long-term variable remuneration together shall not exceed 100% of the base salary. The bonus that has been vested in LTI 2019-2021 but that could not be paid in 2022 due to the limitation
rule will however be payable in 2023 with an amount of SEK 3,939 K.
3) Refers to the total provisions for the incentive scheme LTI 2020-2022. Payment of LTI-bonus is during a three-year period capped at an amount corresponding to one year's base salary, and this maximum amount was reached
after payment of LTI 2019-2021, which means that there will be no payment for LTI 2020-2022 in 2023.
4) Refers to the total provisions for LTI 2021-2023.
5) Since the three-year performance period for the performance target for the incentive program LTI 2022-2024 has not ended, there is no earned compensation for the incentive program and therefore no outcome for the performance target is reported.
Comparative information regarding the company's result and changes in the remuneration
Five-year overview of changes in remuneration and performance")
Changes in remuneration to the CEO, SEK K²)
Changes in average remuneration to employees of Getinge AB, SEK K³)
Changes in operating profit for the Group, SEK M
2018 compared
with 2017
8,710 (35.1%)
61 (5.3%)
-1,777 (-119.0%)
2019 compared
with 2018
12,483 (37.2%)
440 (36.4%)
2,656 (935.2%)
1) In the above table, changes of remuneration and result between the years are presented. The changes are presented in both actual amounts and percentage.
2) Remuneration to the CEO relates to the total remuneration to CEO including base salary, short- and long-term incentive program, pension expenses and other benefits.
3) Remuneration to the Senior Executives excluded.
4) Refers to the outcome for year 2022.
Gothenburg, March 2023
The Board of Directors of Getinge AB (publ)
71
2020 compared
with 2019
20,663 (44.9%)
-34 (-2.1%)
2,412 (101.7%)
2021 compared
with 2020
-7,082 (-10.6%)
-340 (-21.1%)
2022 compared
3,8474)
_5)
with 2021
20224)
-16,378 (-27.5%)
43,245
-244 (-19.2%)
1,030
-413 (-8.6%)
-745 (-17.0%)
3,626View entire presentation