H1 2018/19

Interim financial report, H1 2018/19
(01 October 2018 - 31 March 2019)             

Solid underlying performance continues in Q2

  • Coloplast delivered 8% organic growth in the second quarter. Year to date organic growth was 8% and reported revenue in DKK was up by 9% to DKK 8,722m.
  • Organic growth rates by business area year to date: Ostomy Care 7%, Continence Care 8%, Interventional Urology 9% and Wound & Skin Care 10%.  
  • Continued strong momentum in Europe with 6% organic growth in the first six months, driven by new product launches including SenSura® Mio Convex, SenSura® Mio Concave and SpeediCath® Flex.
  • Ostomy Care was positively impacted by solid momentum in Europe, US and China but negatively impacted by lower tender activity in Emerging markets in Q2, in particular in Russia.
  • The French reimbursement review in Ostomy Care, Continence Care and Wound Care is still ongoing. Coloplast now expects a final decision during Q3.
  • The Wound Care business delivered 9% organic growth year to date driven by the Biatain® Silicone portfolio in Europe and in particular in the UK and France.
  • The Interventional Urology business delivered 9% organic growth in the first six months, driven by sales and marketing investments in the US.
  • The incremental investments into innovation and sales and marketing initiatives of up to 2% of revenue that were initiated in Q1 are progressing according to plan.
  • EBIT amounted to DKK 2,639m for the first six months, a 10% increase in DKK, corresponding to an EBIT margin of 30% on par with the same period last year. Restructuring costs of DKK 27m were included in the first six months in connection with the reduction of production staff in Denmark.
  • ROIC after tax before special items was 44% in the first six months against 40% in the same period last year.
  • The Board of Directors has resolved that Coloplast will pay a half-year interim dividend of DKK 5.00 per share for a dividend pay-out of DKK 1,062m.

Financial guidance for 2018/19

  • We continue to expect organic revenue growth of ~8% at constant exchange rates and now a reported growth in DKK of ~9% from previously 8-9%.
  • We continue to expect an EBIT margin of 30-31% at constant exchange rates and a reported EBIT margin of ~31% in DKK.

Capital expenditure is now expected to be DKK ~700m from previously DKK ~750m, and we continue to expect the effective tax rate to be ~23%.

For more information, please contact:

Investors and analysts
Anders Lonning-Skovgaard
Executive Vice President, CFO
Tel. +45 4911 1111

Ellen Bjurgert
Vice President
Investor Relations
Tel. +45 4911 1800 / 4911 3376                       
E-mail dkebj@coloplast.com

Rasmus Sørensen
Senior Manager
Investor Relations
Tel. +45 4911 1800 / 4911 1786
E-mail dkraso@coloplast.com

Press and the media
Dennis Kaysen
Director
Corporate Communications
Tel. +45 4911 2608
E-mail dkdk@coloplast.com

Lina Danstrup
Senior Media Relations Manager
Corporate Communications
Tel. +45 4911 2607
E-mail dklina@coloplast.com

Address
Coloplast A/S
Holtedam 1
DK-3050 Humlebaek
Denmark
Business reg. (CVR) no. 69749917

Website
www.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. © 2019-05.
All rights reserved Coloplast A/S, 3050 Humlebaek, Denmark.

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