COLOPLAST NAM. BDK 1
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Coloplast - Announcement no. 10/2019 - Full-year Financial Results 2018/19

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2018/19
Announcement of full-year financial results 2018/19
(01 October 2018 - 30 September 2019)          

Strong performance throughout 2018/19

  • Coloplast delivered 8% organic growth in the fourth quarter. Full-year organic growth was also 8% while reported revenue in DKK was up by 9% to DKK 17,939m.
  • Full-year organic growth rates by business area: Ostomy Care 7%, Continence Care 8%, Interventional Urology 10% and Wound & Skin Care 8%.
  • Chronic Care continued the positive performance in the fourth quarter, as Europe maintained its strong momentum despite negative impact from the French price reform and the US delivered double-digit growth.
  • Strong momentum in Europe with 6% organic growth in 2018/19, driven by all business areas. The French reimbursement reform in Ostomy Care, Continence Care and Wound Care was announced at the beginning of Q4 and Coloplast has mitigated around half of the impact.
  • The wound care business delivered 8% organic growth in 2018/19, driven by the Biatain® Silicone portfolio in Europe, in particular France and the UK.
  • The interventional urology business delivered another strong quarter in Q4 with 11% organic growth and 10% organic growth for the full-year, driven by sales and marketing investments in the US.
  • Coloplast has finalised the unconditional review of the interventional urology business. The review has firmly concluded that Interventional Urology remains core to the Coloplast mission and future value creation.
  • EBIT before special items amounted to DKK 5,556m for the full year, a 9% increase, corresponding to an EBIT margin of 31% on par with last year. EBIT before special items includes restructuring costs of DKK 43m, against DKK 50m last year, in connection with the reduction of production staff in Denmark and closure of the factory in Thisted, Denmark.
  • EBIT was impacted by a further provision of DKK 400m to cover potential settlements and costs in connection with the existing 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.
  • ROIC after tax before special items was 48% for the full year against 44% last year.
  • The Board of Directors recommends that the shareholders attending the annual general meeting approve a year-end dividend of DKK 12.00 per share. In addition to the dividend of DKK 5.00 per share paid out in connection with the half-year results, this brings the total dividend paid for the year to DKK 17.00 per share, as compared with DKK 16.00 per share last year.

Financial guidance for 2019/20

  • We expect organic revenue growth of 7-8% at constant exchange rates and a reported growth in DKK of 7-8%.
  • We expect an EBIT margin of ~31% at constant exchange rates and ~31% in DKK. The EBIT margin guidance reflects additional incremental investments of up to 2% of revenue for innovation and sales and marketing purposes.
  • Capital expenditure is expected to be DKK ~850m.
  • The effective tax rate is expected to be about ~23%.

 

Conference call
Coloplast will host a conference call on 5 November 2019 at 15.00 CET. The call is expected to last about one hour. To attend the conference call, call +45 3272 7518, +44 (0) 203 0095710 or +1 917 720 0178. Conference call reference number is 2779737.
A webcast will be posted on www.coloplast.com shortly after the conclusion of the conference call.  

 

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 [email protected]

Rasmus Sørensen
Senior Manager
Investor Relations
Tel. +45 4911 1800 / 4911 1786
E-mail [email protected]

Press and the media
Dennis Kaysen
Director
Corporate Communications
Tel. +45 4911 2608
E-mail [email protected]

Lina Danstrup
Senior Media Relations Manager
Corporate Communications
Tel. +45 4911 2607
E-mail [email protected]

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. © 2019-11.

All rights reserved Coloplast A/S, 3050 Humlebaek, Denmark.

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