Coloplast A/S - Interim Financial Report, Q1 2023/24

Q1 2023/24Interim financial results, Q1 2023/241 October 2023 - 31 December 2023

Coloplast delivered a solid Q1 with 8% organic growth and an EBIT margin1) of 28%. Reported revenue in DKK grew 8% with 4%-points contribution from Kerecis (underlying growth of around 35%), offset by negative impact from currencies.

  • Organic growth rates by business area: Ostomy Care 8%, Continence Care 8%, Voice and Respiratory Care 7%, Advanced Wound Care 9% (Advanced Wound Dressings 9%) and Interventional Urology 5%.
  • Solid start in Chronic Care, driven by broad-based growth in Emerging markets and Europe. The Ostomy Care business in China posted mid-single digit growth, in line with expectations. Growth in Continence Care was driven by the intermittent catheters portfolio, including contribution from LujaTM, the new male intermittent catheter with a Micro-hole Zone Technology, which is now launched in ten markets.
  • Growth in Voice and Respiratory Care was driven by continued good momentum with high-single digit growth in both laryngectomy and tracheostomy, partly held back by product rationalisation.
  • Strong quarter in Advanced Wound Dressings, driven by broad-based growth across regions from a lower baseline in Q1 last year.
  • Kerecis is off to a good start, in line with plan. Underlying growth in Q1 was around 35%, reflecting continued market share gains. The EBIT margin excl. PPA amortisation was around 10%.
  • Interventional Urology was up against a high baseline in Q1 last year, with growth in the quarter driven by Men’s Health in the US and Endourology.
  • Coloplast is launching Biatain® Silicone Fit in the US, a new silicone foam dressing for pressure injury prevention and wound management, and Peristeen® Light in Europe, a new transanal irrigation device for people with bowel disorders.
  • EBIT1) was DKK 1,822 million, a 3% increase from last year. The EBIT margin1,2) was 28%, against 29% last year, and includes around 100 basis points negative impact from Kerecis, in line with expectations. Currencies also had a negative impact on the EBIT margin.
  • ROIC after tax before special items was 15% against 20% last year, negatively impacted by the acquisition of Kerecis.

FY 2023/24 – unchanged organic revenue growth and EBIT margin guidance

  • The organic revenue growth is still expected around 8% and continues to assume good momentum across business areas and regions. Reported growth in DKK is now expected to be around 11%, from previously around 12%, and assumes around 1%-point negative impact from currencies, mostly the USD and ARS. The impact from the acquisition of Kerecis to reported growth is still expected around 4%-points (11 months).
  • The reported EBIT margin before special items is still expected to be 27-28%. The EBIT margin includes around 100 basis points dilution from Kerecis (incl. around DKK 100 million in PPA amortisation) and negative impact from currencies.
  • Capital expenditures are still expected around DKK 1.4 billion. The effective tax rate is still expected to be around 22%.

“We deliver a good start to the year with 8% organic growth and a 28% EBIT margin in Q1, which is in line with our financial guidance. I want to highlight a strong first quarter in our Chronic Care business, which delivered broad-based growth, as well as a good start to the year for our newest member of the Coloplast family, Kerecis. I am also pleased with our profitability performance in Q1. Finally, we have now kicked off a year of product launches that will help drive our future growth. This quarter, we are launching Biatain Silicone Fit for pressure injury prevention and wound management in the US, as well as Peristeen® Light for people with bowel disorders in Europe. I believe both products will make a significant difference to people living with intimate healthcare needs,” says Kristian Villumsen, President and CEO of Coloplast.

1) before special items of DKK 15 million in Q1 2023/24 2) before special items of DKK 13 million in Q1 2022/23

Conference call

Coloplast will host a conference call on Friday, 9 February 2024 at 11.00 CET. The call is expected to last about one hour.To actively participate in the Q&A session please sign up ahead of the conference call on the link here to receive an e-mail with dial-in details: Register hereAccess the conference call webcast directly here: Coloplast - Q1 2023/24 conference call


For further information, please contact

Investors and analystsAnders Lonning-SkovgaardExecutive Vice President, CFOTel. +45 4911 1111

Aleksandra DimovskaSenior Director, Investor RelationsTel. +45 4911 1800 / +45 4911 2458Email:

Kristine Husted MunkSenior Manager, Investor RelationsTel. +45 4911 1800 / +45 4911 3266Email:

Press and mediaPeter MønsterSr. Media Relations ManagerTel. +45 4911 2623Email:

AddressColoplast A/SHoltedam 1DK-3050 HumlebaekDenmarkCompany reg. (CVR) no. 69749917


This announcement is available in a Danish and an English-language version. In the event of discrepancies, the English version shall prevail.

Coloplast was founded on passion, ambition, and commitment. We were born from a nurse’s wish to help her sister and the skills of an engineer. Guided by empathy, our mission is to make life easier for people with intimate healthcare needs. Over decades, we have helped millions of people to live a more independent life and we continue to do so through innovative products and services. Globally, our business areas include Ostomy Care, Continence Care, Advanced Wound Care, Interventional Urology and Voice and Respiratory Care.

The Coloplast logo is a registered trademark of Coloplast A/S. © 2024-02.All rights reserved Coloplast A/S, 3050 Humlebaek, Denmark.


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