Coloplast Announcement no. 07/2019 - 9M Interim Financial Report, 2018/19
14 August 2019 - 12:02PM
Coloplast Announcement no. 07/2019 - 9M Interim Financial Report,
2018/19
Interim financial report, 9M 2018/19(01 October
2018 - 30 June
2019)
Solid underlying performance continues in
Q3
- Coloplast delivered 8% organic growth in the third quarter.
Year to date organic growth was also 8% while reported revenue in
DKK was up by 9% to DKK 13,321m.
- Organic growth rates by business area year to date: Ostomy Care
7%, Continence Care 8%, Interventional Urology 10% and Wound &
Skin Care 9%.
- Continued strong momentum in Europe with 6% organic growth in
the first three quarters, driven by all business areas.
- Positive performance within Chronic Care in the US in Q3 with
double-digit growth, driven by the hydrophilic upgrade in catheters
and market share gains in Ostomy Care.
- The Wound Care business delivered 8% organic growth year to
date, driven by the Biatain® Silicone portfolio in Europe and in
particular France and the UK.
- The Interventional Urology business delivered 10% organic
growth year to date, driven by sales and marketing investments in
the US.
- Improved momentum in Emerging Markets in Q3 driven by increased
tender activity in Russia and solid momentum in China.
- The French reimbursement reform in Ostomy Care, Continence Care
and Wound Care has been announced. For Coloplast, the price reform
represents an average reduction in prices in France for Ostomy Care
and Continence Care of ~9% and Wound Care of ~2%.
- The incremental investments into innovation and sales and
marketing initiatives of up to 2% of revenue that were initiated in
Q1 are making satisfactory progress.
- EBIT amounted to DKK 4,077m for the first nine months, a 11%
increase in DKK, corresponding to an EBIT margin of 31% against 30%
last year. The last volume factory in Denmark, Thisted, has now
been closed and restructuring costs of DKK 43m were included in the
first nine months in connection with the reduction of production
staff in Denmark.
- ROIC after tax before special items was 45% in the first nine
months against 42% in the same period last year.
- Coloplast is conducting an unconditional strategic review of
the Interventional Urology division. The review is expected to be
concluded by the end of 2019.
Financial guidance for 2018/19
- We continue to expect organic revenue growth of ~8% at constant
exchange rates and a reported growth in DKK of ~9%.
- We continue to expect an EBIT margin of 30-31% at constant
exchange rates and ~31% in DKK. The EBIT margin guidance reflects
additional incremental investments of up to 2% of revenue for
innovation and sales and marketing purposes.
- Capital expenditure is expected to be DKK ~700m.
- The effective tax rate is expected to be about ~23%.
For more information, please contact:
Investors and analysts Anders Lonning-SkovgaardExecutive
Vice President, CFO Tel. +45 4911 1111
Ellen BjurgertVice PresidentInvestor Relations Tel. +45 4911
1800 / 4911 3376 E-mail dkebj@coloplast.com
Rasmus SørensenSenior ManagerInvestor Relations Tel. +45 4911
1800 / 4911 1786 E-mail dkraso@coloplast.com
Press and the mediaDennis KaysenDirectorCorporate
CommunicationsTel. +45 4911 2608E-mail dkdk@coloplast.com
Lina DanstrupSenior Media Relations ManagerCorporate
CommunicationsTel. +45 4911 2607E-mail dklina@coloplast.com
AddressColoplast A/SHoltedam 1DK-3050
HumlebaekDenmarkBusiness reg. (CVR) no. 69749917
Websitewww.coloplast.com
This announcement is available in a Danish and an
English-language version. In the event of discrepancies, the Danish
version shall prevail.
Coloplast develops products and services that make life easier
for people with very personal and private medical conditions.
Working closely with the people who use our products, we create
solutions that are sensitive to their special needs. We call this
intimate healthcare. Our business includes Ostomy Care, Continence
Care, Wound and Skin Care and Interventional Urology. We operate
globally and employ about 12,000 employees.
The Coloplast logo is a registered trademark of Coloplast A/S. ©
2019-08.All rights reserved Coloplast A/S, 3050 Humlebaek,
Denmark.
- 07_2019_9M_201819_earnings_release
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