Coloplast - Announcement no. 10/2019 - Full-year Financial Results 2018/19
05 November 2019 - 12:04PM
Coloplast - Announcement no. 10/2019 - Full-year Financial Results
2018/19
2018/19Announcement of full-year
financial results 2018/19(01 October 2018 - 30 September
2019)
Strong performance throughout 2018/19
- Coloplast delivered 8% organic growth in the fourth quarter.
Full-year organic growth was also 8% while reported revenue in DKK
was up by 9% to DKK 17,939m.
- Full-year organic growth rates by business area: Ostomy Care
7%, Continence Care 8%, Interventional Urology 10% and Wound &
Skin Care 8%.
- Chronic Care continued the positive performance in the fourth
quarter, as Europe maintained its strong momentum despite negative
impact from the French price reform and the US delivered
double-digit growth.
- Strong momentum in Europe with 6% organic growth in 2018/19,
driven by all business areas. The French reimbursement reform in
Ostomy Care, Continence Care and Wound Care was announced at the
beginning of Q4 and Coloplast has mitigated around half of the
impact.
- The wound care business delivered 8% organic growth in 2018/19,
driven by the Biatain® Silicone portfolio in Europe, in particular
France and the UK.
- The interventional urology business delivered another strong
quarter in Q4 with 11% organic growth and 10% organic growth for
the full-year, driven by sales and marketing investments in the
US.
- Coloplast has finalised the unconditional review of the
interventional urology business. The review has firmly concluded
that Interventional Urology remains core to the Coloplast mission
and future value creation.
- EBIT before special items amounted to DKK 5,556m for the full
year, a 9% increase, corresponding to an EBIT margin of 31% on par
with last year. EBIT before special items includes restructuring
costs of DKK 43m, against DKK 50m last year, in connection with the
reduction of production staff in Denmark and closure of the factory
in Thisted, Denmark.
- EBIT was impacted by a further provision of DKK 400m to cover
potential settlements and costs in connection with the existing
lawsuits in the United States alleging injury resulting from the
use of transvaginal surgical mesh products designed to treat pelvic
organ prolapse and stress urinary incontinence.
- ROIC after tax before special items was 48% for the full year
against 44% last year.
- The Board of Directors recommends that the shareholders
attending the annual general meeting approve a year-end dividend of
DKK 12.00 per share. In addition to the dividend of DKK 5.00 per
share paid out in connection with the half-year results, this
brings the total dividend paid for the year to DKK 17.00 per share,
as compared with DKK 16.00 per share last year.
Financial guidance for 2019/20
- We expect organic revenue growth of 7-8% at constant exchange
rates and a reported growth in DKK of 7-8%.
- We expect an EBIT margin of ~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 ~850m.
- The effective tax rate is expected to be about ~23%.
Conference callColoplast will host a
conference call on 5 November 2019 at 15.00 CET. The call is
expected to last about one hour. To attend the conference call,
call +45 3272 7518, +44 (0) 203 0095710 or +1 917 720 0178.
Conference call reference number is 2779737. A webcast will be
posted on www.coloplast.com shortly after the conclusion of the
conference call. |
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. ©
2019-11.
All rights reserved Coloplast A/S, 3050 Humlebaek, Denmark.
- 10_2019_FY_201819_Earnings_release
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