Interim Financial Report, 9M 2015/16 - See enclosed pdf.
Highlights
· Organic revenue growth was 7%. Revenue in DKK was up by 6% to DKK 10,942m.
· Organic growth rates by business area: Ostomy Care 9%, Continence Care 5%, Urology Care 8% and Wound & Skin Care 7%.
· Gross profit was up by 6% to DKK 7,471m, equal to a gross margin of 68% (9M 2014/15: 68%). At constant exchange rates, the gross margin was 69%, against 68% in 9M 2014/15.
· EBIT was up by 8% to DKK 3,562m, with the EBIT margin at 33%, compared with 32% in the same period of last year. At constant exchange rates, the EBIT margin was also 33%, against 32% in 9M 2014/15.
· The net profit for the reporting period was up by 17% to DKK 2,719m, while diluted earnings per share were also up by 17% to DKK 12.78.
· The free cash flow amounted to DKK 1,643m, DKK 307m (16%) less than in the same period of last year.
· ROIC after tax before special items was 46%, which was in line with the same period of last year.
Financial guidance for 2015/16
· We continue to expect organic revenue growth of 7–8% at constant exchange rates and now of about 6% in DKK from previously 6-7%.
· We continue to expect the EBIT margin to be 33–34% at constant exchange rates and to be about 33% in DKK.
· Capital expenditure is still expected to be DKK 600–700m.
· The effective tax rate is still expected to be about 23%.