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Press Release

Announcement no. 10/2016 - Full-year Financial Results 2015/16


Posted on: 02 Nov 16

Please see enclosed pdf.

Highlights

·       Organic revenue growth was 7%. Revenue in DKK was up by 6% to DKK 14,681m.

·       Organic growth rates by business area: Ostomy Care 9%, Continence Care 5%, Urology Care 9% and Wound & Skin Care 6%.

·       Gross profit was up by 5% to DKK 10,032m. At constant exchange rates, the gross margin was 69% compared to 68% last year. In DKK, the gross margin was 68%, against 69% last year.

·       EBIT before special items was up by 7% to DKK 4,846m. The EBIT margin before special items was 34% at constant exchange rates, against 33% last year. Measured in DKK, the EBIT margin was 33%.

·       EBIT was impacted by a further provision of DKK 750m to cover potential settlements and costs in connection with the 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.

·       EBIT after special items was DKK 4,096m for an EBIT margin after special items of 28% at constant exchange rates. Measured in DKK, the EBIT margin was 28%.

·       The full-year net profit before special items was up by 15% to DKK 3,728m, while diluted earnings per share before special items were also up by 15% to DKK 17.53.

·       Net profit for the year after special items was DKK 3,143m, against DKK 899m last year.

·       The free cash flow amounted to DKK 2,425m, DKK 444m (15%) less than last year. Adjusted for payments made in connection with lawsuits alleging injury resulting from the use of transvaginal surgical mesh products, the free cash flow was an inflow of DKK 4,023m against DKK 2,786m in 2014/15.

·       ROIC after tax before special items was 49% against 48% last year.

·       The Board of Directors recommends that the shareholders attending the general meeting to be held on 5 December 2016 approve a year-end dividend of DKK 9.0 per share. This brings the dividend paid for the year to DKK 13.5 per share, as compared with DKK 12.5 per share last year.

 

Financial guidance for 2016/17

·       We expect organic revenue growth of 7-8% at constant exchange rates and of 5-6% in DKK.

·       We expect an EBIT margin of 33-34% at constant exchange rates and at about 33% in DKK.

·       Capital expenditure is expected to be about DKK 700m.

·       The effective tax rate is expected to be about 23%.

GlobeNewswire
globenewswire.com

Last updated on: 02/11/2016

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