Interim Financial Report, H1 2015/16 - See enclosed PDF.
Highlights
· Organic revenue growth was 7%. Revenue in DKK was up by 8% to DKK 7,256m.
· Organic growth rates by business area: Ostomy Care 8%, Continence Care 4%, Urology Care 8% and Wound & Skin Care 9%.
· Gross profit was up by 7% to DKK 4,959m, equal to a gross margin of 68% (H1 2014/15: 69%). At constant exchange rates, the gross margin was 69%, against 69% in H1 2014/15.
· EBIT was up by 7% to DKK 2,361m. The EBIT margin was 33%, which is in line with the margin for the H1 2014/15 period. At constant exchange rates, the EBIT margin was also 33%.
· The net profit for the reporting period was up by 8% to DKK 1,741m, while diluted earnings per share were also up by 8% to DKK 8.18.
· The free cash flow amounted to DKK 1,186m, a 23% increase on the same period of last year.
· ROIC after tax before special items was 46% against 45% in the same period of last year.
· The Board of Directors has resolved that Coloplast will pay an interim dividend of DKK 4.50 per share for a dividend pay-out of DKK 955m.
Financial guidance for 2015/16
· We continue to expect organic revenue growth of 7–8% at constant exchange rates and now 6-7% in DKK from previously about 7%.
· We continue to expect the EBIT margin to be 33–34% at constant exchange rates and still to be about 33% in DKK.
· Capital expenditure is now expected to be DKK 600–700m from previously about DKK 700m.
· The effective tax rate is still expected to be about 23%.
