COLTENE announces 2022 half-year results and outlook
COLTENE Holding AG / Key word(s): Miscellaneous
Ad hoc announcement pursuant to Art. 53 LR
COLTENE expects sales of between CHF 130 million and CHF 135 million for the first half (H1) of 2022. Growth remains stable in consumables sales and the order book for durable goods. Temporary supply chain constraints for components used in device manufacturing weighed on H1 sales and operating income. For full-year 2022, COLTENE expects total sales in line with prior-year performance and affirms its target of a 15% EBIT margin in the medium term.
The COLTENE Group sees sustained strong demand for its products across its markets. However, there are signs already that COLTENE will not derive maximum benefit from this demand in H1 2022. Supply chain disruptions have been affecting some products, notably Infection Control devices. There is a shortage of electronic components, in particular. COLTENE is able to raise prices to pass on higher costs with a slight time lag. However, given the strong demand and a gradual normalization evident in supply chains, Group Management is confident about COLTENE's performance outlook for the second half (H2) of the year.
When comparing H1 sales year-on-year, it is appropriate to bear in mind that the H1 2021 results were exceptionally strong. That period was defined by pandemic-related catch-up effects and, in Infection Control, by high-margin products. For H1 2022, the COLTENE Group expects sales of between CHF 130 million and CHF 135 million (H1 2021: CHF 143.5 million). Excluding the supply chain constraints, H1 2022 sales would be in line with the strong prior-year performance. The EBIT margin is expected to be in the range between 11%-12%, coming in below the very high margin achieved in H1 2021 (18.1%). COLTENE expects the supply chain constraints to be reduced in H2 2022 and H2 sales and profit to outperform both H1 2022 and H2 2021. At constant exchange rates, COLTENE expects full-year 2022 sales in line with 2021 figures and an EBIT margin trending toward the medium-term target of 15%. The outlook for full-year 2022 is clouded by uncertainties on account of the current state of the global economy. Detailed information on COLTENE's performance will be released on 5 August 2022 with the 2022 Half-Year Report.
End of ad hoc announcement
|Company:||COLTENE Holding AG|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1384967|
|End of Announcement||EQS News Service|