Revenue for the 2015/16 financial year was up by 7%, with the EBIT margin
before special items at 34% at constant exchange rates. In DKK, revenue
increased by 6% and the EBIT margin before special items was 33%, the
difference mainly being due to GBP currency headwinds. The results were
consistent with the guidance provided.
Coloplast's products are becoming increasingly popular with users, as reflected
in growing sales and the improved earnings for the financial year 2015/2016.
Full-year organic sales growth rates were 9% in Ostomy Care, the largest
business area, 5% in Continence Care, 9% in Urology Care and 6% in Wound & Skin
Care.
European sales were up by 6 % and Coloplast's homecare company Charter in the UK played a key role in increasing Coloplast's market share in the country.
"We've seen impressive contributions from our European subsidiaries within all business areas, not least in the UK market as Charter continuously performs well, and users increasingly favour our stoma bags, catheters and accessories," said Coloplast CEO Lars Rasmussen.
Other developed markets produced 6% organic growth, while sales in Emerging Markets were up by 14%. There is a strong underlying demand in the US market, although distributors continued to downscale their inventories which posed a challenge. Growth rates in the US market are expected to improve in the 2016/17 financial year.
Product launches to drive future growth This fall, Coloplast launched a new flexible catheter for men, the SpeediCath Flex, and a new series of silicone dressings, the Biatain Silicone Sizes & Shapes. Both products are expected to become future growth drivers, just like the Sensura Mio Convex stoma bag.
"I'm pleased with our full-year results. Clearly, users are welcoming the innovative products we've developed to make their lives easier. This makes our new product launches all the more exciting to follow, in our efforts to achieve our long-term growth targets," said Mr Rasmussen.
The full-year EBIT was impacted by a 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. More than 90% of the cases are considered settled.
2016/17 guidance For the 2016/17 financial year, Coloplast expects organic revenue growth of 7-8% at constant exchange rates and of 5-6% in DKK, with the EBIT margin expected at 33-34% at constant exchange rates and at about 33% in DKK.
For more on the full-year 2015/16 financial report, go to http://www.coloplast.com/investor-relations/announcements/2016/ (available shortly)
The Annual Report and the Corporate Responsibility Report will be released later today. For more information, go to http://www.coloplast.com/investor-relations/annual-reports/ and http://www.coloplast.com/about-coloplast/responsibility/policies/
Financial highlights and key ratios (DKKm) 2015/16 2014/15 Change FY FY -------------------------------------------------------------------------------- Revenue 14,681 13,909 6% -------------------------------------------------------------------------------- EBIT before special items 4,846 4,535 7% -------------------------------------------------------------------------------- EBIT margin before special items (constant exchange 34% 33% rates) -------------------------------------------------------------------------------- EBIT margin before special items (DKK) 33% 33% -------------------------------------------------------------------------------- Special items -750 -3,000 - -------------------------------------------------------------------------------- EBIT 4,096 1,535 >100% --------------------------------------------------------------------------------
Sales performance by business 2015/16 2014/15 Organic growth Reported area FY FY growth DKKm -------------------------------------------------------------------------------- Ostomy Care 5,935 5,567 9% 7% -------------------------------------------------------------------------------- Continence Care 5,182 5,019 5% 3% -------------------------------------------------------------------------------- Urology Care 1,497 1,359 9% 10% -------------------------------------------------------------------------------- Wound & Skin Care 2,067 1,964 6% 5% --------------------------------------------------------------------------------
Financial guidance for 2016/17
FY 2015/16 guidance Guidance (in DKK) -------------------------------------------------------------------- Sales growth 7-8% (organic) 5-6% -------------------------------------------------------------------- EBIT margin 33-34% (at constant exchange rates) ~33% -------------------------------------------------------------------- CAPEX - ~700 -------------------------------------------------------------------- Tax rate - ~23 --------------------------------------------------------------------
Media contact: Maria Lindeberg Senior Media Relations Manager tel. + 45 49 11 30 95 dkmalg@coloplast.com
Investor Relations: Ellen Bjurgert tel: + 45 49 11 33 76 dkebj@coloplast.com
Attachment:
https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=602667
European sales were up by 6 % and Coloplast's homecare company Charter in the UK played a key role in increasing Coloplast's market share in the country.
"We've seen impressive contributions from our European subsidiaries within all business areas, not least in the UK market as Charter continuously performs well, and users increasingly favour our stoma bags, catheters and accessories," said Coloplast CEO Lars Rasmussen.
Other developed markets produced 6% organic growth, while sales in Emerging Markets were up by 14%. There is a strong underlying demand in the US market, although distributors continued to downscale their inventories which posed a challenge. Growth rates in the US market are expected to improve in the 2016/17 financial year.
Product launches to drive future growth This fall, Coloplast launched a new flexible catheter for men, the SpeediCath Flex, and a new series of silicone dressings, the Biatain Silicone Sizes & Shapes. Both products are expected to become future growth drivers, just like the Sensura Mio Convex stoma bag.
"I'm pleased with our full-year results. Clearly, users are welcoming the innovative products we've developed to make their lives easier. This makes our new product launches all the more exciting to follow, in our efforts to achieve our long-term growth targets," said Mr Rasmussen.
The full-year EBIT was impacted by a 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. More than 90% of the cases are considered settled.
2016/17 guidance For the 2016/17 financial year, Coloplast expects organic revenue growth of 7-8% at constant exchange rates and of 5-6% in DKK, with the EBIT margin expected at 33-34% at constant exchange rates and at about 33% in DKK.
For more on the full-year 2015/16 financial report, go to http://www.coloplast.com/investor-relations/announcements/2016/ (available shortly)
The Annual Report and the Corporate Responsibility Report will be released later today. For more information, go to http://www.coloplast.com/investor-relations/annual-reports/ and http://www.coloplast.com/about-coloplast/responsibility/policies/
Financial highlights and key ratios (DKKm) 2015/16 2014/15 Change FY FY -------------------------------------------------------------------------------- Revenue 14,681 13,909 6% -------------------------------------------------------------------------------- EBIT before special items 4,846 4,535 7% -------------------------------------------------------------------------------- EBIT margin before special items (constant exchange 34% 33% rates) -------------------------------------------------------------------------------- EBIT margin before special items (DKK) 33% 33% -------------------------------------------------------------------------------- Special items -750 -3,000 - -------------------------------------------------------------------------------- EBIT 4,096 1,535 >100% --------------------------------------------------------------------------------
Sales performance by business 2015/16 2014/15 Organic growth Reported area FY FY growth DKKm -------------------------------------------------------------------------------- Ostomy Care 5,935 5,567 9% 7% -------------------------------------------------------------------------------- Continence Care 5,182 5,019 5% 3% -------------------------------------------------------------------------------- Urology Care 1,497 1,359 9% 10% -------------------------------------------------------------------------------- Wound & Skin Care 2,067 1,964 6% 5% --------------------------------------------------------------------------------
Financial guidance for 2016/17
FY 2015/16 guidance Guidance (in DKK) -------------------------------------------------------------------- Sales growth 7-8% (organic) 5-6% -------------------------------------------------------------------- EBIT margin 33-34% (at constant exchange rates) ~33% -------------------------------------------------------------------- CAPEX - ~700 -------------------------------------------------------------------- Tax rate - ~23 --------------------------------------------------------------------
Media contact: Maria Lindeberg Senior Media Relations Manager tel. + 45 49 11 30 95 dkmalg@coloplast.com
Investor Relations: Ellen Bjurgert tel: + 45 49 11 33 76 dkebj@coloplast.com
Attachment:
https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=602667