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Press Release

Announcement no. 02/2018 - Q1 Interim Financial Report, 2017/18


Posted on: 01 Feb 18

Q1 2017/18

Interim financial report, Q1 2017/18
(01 October 2017 - 31 December 2017)

Please see enclosed pdf.

Highlights

  • Coloplast generated 8% organic growth in the first quarter. Reported revenue in DKK was up by 5% to DKK 3,955m.
  • Organic growth rates by business area: Ostomy Care 9%, Continence Care 10%, Urology Care 11% and Wound & Skin Care -5%.
  • The US chronic care business delivered double-digit organic growth, which was in part due to low comparative numbers as a result of inventory reductions by major distributors last year. Even when adjusted for this factor, the US chronic care business still reported double-digit organic growth in the first quarter.
  • Q1 organic growth was affected by inventory reductions among distributors in Greece due to a large pricing reform involving both the chronic care and the wound care business.
  • Coloplast expands its SenSura Mio ostomy care portfolio with the launch of SenSura® Mio Concave, a product which is specifically designed for people with curves or hernia. The product will be launched during 2018 and 2019.
  • Sales and marketing initiatives were implemented across multiple markets and business areas during the first quarter in support of the ambition to drive higher organic growth during the period to 2019/2020.
  • The acquisition of French distributor Lilial was completed in January 2018.
  • EBIT amounted to DKK 1,207m or a 2% decline in DKK but a 4% increase at constant exchange rates. The EBIT margin at constant exchange rates was 31% against 33% in Q1 last year. In DKK, the EBIT margin was 31%, against 33% last year.
  • ROIC after tax was 42% against 47% in the same period of last year.
  • The Board of Directors has approved a new DKK 1bn share buy-back programme. The first part of the programme is expected to commence in the second quarter of the 2017/18 financial year.

Financial guidance for 2017/18

  • We continue to expect organic revenue growth of ~7% at constant exchange rates. Guidance for reported growth in DKK lowered by 1pp to 5%–6% due to developments in the USD/DKK exchange rate.
  • We continue to expect an EBIT margin to be 31%-32% at constant exchange rates and a reported EBIT margin of ~31% in DKK. The EBIT margin guidance also includes the effects of the above factors.
  • Capital expenditure is still expected to be around DKK 700m.
  • We continue to expect the effective tax rate will be about 23%.

 

http://prlibrary-eu.nasdaq.com/Resource/Download/90e5d380-134e-4f41-b070-0ddf3008555e

GlobeNewswire
globenewswire.com

Last updated on: 01/02/2018

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