Coloplast delivers 8% organic growth and solid performance across all business areas
14 August 2019 - 12:03PM
Coloplast delivers 8% organic growth and solid performance across
all business areas
In addition to solid organic revenue growth, EBIT
increased by 13% to DKK 1,438m, corresponding to an EBIT margin of
31%, in the third quarter of the 2018/19 financial year.
The company maintains its financial guidance for
2018/19. In the third quarter of its financial year,
Coloplast delivered 8% organic revenue growth, and reported revenue
in DKK was up by 9% to DKK 4,599 million. This is mainly due to a
favourable development in USD against DKK. For the 9M 2018/19
reporting period, organic revenue growth was also 8%, while
reported revenue in DKK was up by 9% to DKK 13,321 million.
“We see strong performance in Europe driven by all business
areas, double-digit growth in the US, and improved momentum in
Emerging Markets driven by solid performance in China. Finally, I
would like to highlight our 8% organic growth, year to date, in our
Wound Care business and our double-digit growth, year to date, in
the Interventional Urology business,” says CEO Kristian Villumsen,
Coloplast, and continues:
“We deliver solid growth rates across all business areas, driven
by our product launches and commercial investments, and we continue
to invest in commercial initiatives to drive future growth.”
Organic growth rates by business area in the third quarter were
8% in Ostomy Care, 7% in Continence Care, 10% in Interventional
Urology, and 7% in Wound & Skin Care.
Looking at sales by geographies in the third quarter, the
European markets contributed with 5% growth, Other developed
markets delivered 12% revenue growth, and Emerging Markets provided
a 14% increase.
EBIT amounted to DKK 4,077m for the first nine months, an 11%
increase in DKK, corresponding to an EBIT margin of 31% against 30%
last year. ROIC after tax before special items was 45% in the first
nine months against 42% in the same period last year.
French price reformFollowing a reimbursement
review, the French Ministry of Health has published new
classifications and prices within Ostomy Care, Continence Care, and
Wound Care in France. For Coloplast, the price reform represents an
average reduction in prices in France for Ostomy Care and
Continence Care of ~9% as of 1 July 2019, and Wound Care of ~2% as
of 1 June 2019.
Unchanged financial guidance for 2018/19
Coloplast continues to expect organic revenue growth of ~8% at
constant exchange rates and a reported growth in DKK of ~9%.
Coloplast continues to expect an EBIT margin of 30-31% at constant
exchange rates and a reported EBIT margin of ~31% in DKK.
CONTACTS Lina DanstrupSenior Media Relations
Manager, Corporate Communications+45 49 11 26
07dklina@coloplast.com |
Ellen BjurgertVice
President, Investor Relations+45 49 11 33
76dkebj@coloplast.com |
Financial highlights and key ratios (DKKm) |
2018/199M |
2017/189M |
Change |
Revenue |
13,321 |
12,215 |
9% |
EBIT |
4,077 |
3,676 |
11% |
EBIT margin(at constant exchange rates) |
31% |
- |
|
EBIT margin(in DKK) |
31% |
30% |
|
Profit for the period |
3,080 |
2,806 |
10% |
Sales performance by business
areaDKKm |
2018/199M |
2017/189M |
Organic growth |
Reported growth |
Ostomy Care |
5,317 |
4,943 |
7% |
8% |
Continence Care |
4,811 |
4,406 |
8% |
9% |
Interventional Urology |
1,476 |
1,308 |
10% |
13% |
Wound & Skin Care |
1,717 |
1,558 |
9% |
10% |
Revenue |
13,321 |
12,215 |
8% |
9% |
Financial guidance |
Guidance for 2018/19 |
Guidance for 2018/19 (DKK) |
Sales growth |
~8% (organic) |
~9% |
EBIT margin |
30-31% (at constant exchange rates) |
~31% |
Capital expenditure |
- |
~700 |
Tax rate |
- |
~23% |
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