Announcement no. 1/2024
1
9 February 2024
Q1 2023/24
Interim financial results, Q1 2023/24
1 October 2023 - 31 December 2023
Coloplast delivered a solid Q1 with 8% organic growth and an EBIT margin
1)
of 28%. Reported revenue in DKK grew 8%
with 4%-points contribution from Kerecis (underlying growth of around 35%), offset by negative impact from currencies.
• Organic growth rates by business area: Ostomy Care 8%, Continence Care 8%, Voice and Respiratory Care 7%, Advanced
Wound Care 9% (Advanced Wound Dressings 9%) and Interventional Urology 5%.
• Solid start in Chronic Care, driven by broad-based growth in Emerging markets and Europe. The Ostomy Care business in
China posted mid-single digit growth, in line with expectations. Growth in Continence Care was driven by the intermittent
catheters portfolio, including contribution from Luja
TM
, the new male intermittent catheter with a Micro-hole Zone
Technology, which is now launched in ten markets.
• Growth in Voice and Respiratory Care was driven by continued good momentum with high-single digit growth in both
laryngectomy and tracheostomy, partly held back by product rationalisation.
• Strong quarter in Advanced Wound Dressings, driven by broad-based growth across regions from a lower baseline in Q1
last year.
• Kerecis is off to a good start, in line with plan. Underlying growth in Q1 was around 35%, reflecting continued market share
gains. The EBIT margin excl. PPA amortisation was around 10%.
• Interventional Urology was up against a high baseline in Q1 last year, with growth in the quarter driven by Men’s Health in
the US and Endourology.
• Coloplast is launching Biatain® Silicone Fit in the US, a new silicone foam dressing for pressure injury prevention and wound
management, and Peristeen® Light in Europe, a new transanal irrigation device for people with bowel disorders.
• EBIT
1)
was DKK 1,822 million, a 3% increase from last year. The EBIT margin
1,2)
was 28%, against 29% last year, and
includes around 100 basis points negative impact from Kerecis, in line with expectations. Currencies also had a negative
impact on the EBIT margin.
• ROIC after tax before special items was 15% against 20% last year, negatively impacted by the acquisition of Kerecis.
FY 2023/24 – unchanged organic revenue growth and EBIT margin guidance
• The organic revenue growth is still expected around 8% and continues to assume good momentum across business areas
and regions. Reported growth in DKK is now expected to be around 11%, from previously around 12%, and assumes
around 1%-point negative impact from currencies, mostly the USD and ARS. The impact from the acquisition of Kerecis to
reported growth is still expected around 4%-points (11 months).
• The reported EBIT margin before special items is still expected to be 27-28%. The EBIT margin includes around 100 basis
points dilution from Kerecis (incl. around DKK 100 million in PPA amortisation) and negative impact from currencies.
• Capital expenditures are still expected around DKK 1.4 billion. The effective tax rate is still expected to be around 22%.
“We deliver a good start to the year with 8% organic growth and a 28% EBIT margin in Q1, which is in line with our financial
guidance. I want to highlight a strong first quarter in our Chronic Care business, which delivered broad-based growth, as well as
a good start to the year for our newest member of the Coloplast family, Kerecis. I am also pleased with our profitability
performance in Q1. Finally, we have now kicked off a year of product launches that will help drive our future growth. This
quarter, we are launching Biatain Silicone Fit for pressure injury prevention and wound management in the US, as well as
Peristeen® Light for people with bowel disorders in Europe. I believe both products will make a significant difference to people
living with intimate healthcare needs,” says Kristian Villumsen, President and CEO of Coloplast.
1) before special items of DKK 15 million in Q1 2023/24
2) before special items of DKK 13 million in Q1 2022/23
Conference call
Coloplast will host a conference call on Friday, 9 February 2024 at 11.00 CET. The call is expected to last about one hour.
To actively participate in the Q&A session please sign up ahead of the conference call on the link here to receive an e-mail with dial-in details: Register here
Access the conference call webcast directly here: Coloplast - Q1 2023/24 conference call
Announcement no. 1/2024
2
9 February 2024
Financial highlights and key ratios
1 October 2022 – 31 December 2023, unaudited
Consolidated
2023/24
2022/23
Q1
Q1
Change
Income statement, DKK million
Revenue
6,606
6,105
8%
Research and development costs
-233
-216
8%
Operating profit before interest, tax, depr. and amort. (EBITDA) before special items
2,130
2,035
5%
Operating profit before interest, taxes and amortization (EBITA) before special items
1,932
1,857
4%
Operating profit (EBIT) before special items
1,822
1,774
3%
Special items
-15
-13
N/A
Operating profit (EBIT)
1,807
1,761
3%
Net financial income and expenses
-253
-334
-24%
Profit before tax
1,554
1,427
9%
Net profit for the period
1,212
1,127
8%
Revenue growth, %
Period growth in revenue, %
8
18
Growth break down:
Organic growth, %
8
7
Currency effect, %
-4
2
Acquired operations, %
4
9
Balance sheet, DKK million
Total assets
48,591
37,711
29%
Capital invested
37,140
28,529
30%
Net interest-bearing debt (NIBD)
20,719
21,328
-3%
Equity end of period
15,125
5,905
N/A
Cash flow and investments, DKK million
Cash flows from operating activities
1,788
487
N/A
Cash flows from investing activities
-267
-275
-3%
Investments in property, plant and equipment, gross
-236
-198
19%
Free cash flow
1,521
212
N/A
Cash flows from financing activities
-1,477
74
N/A
Key ratios
Average number of employees, FTEs
15,751
14,685
Operating margin (EBIT margin) before special items, %
28
29
Operating margin (EBIT margin), %
27
29
Operating margin before interest, tax, depr. and amort., (EBITDA margin), %
32
33
Gearing ratio, NIBD/EBITDA before special items
2.4
2.6
Return on average invested capital before tax (ROIC), %¹⁾
20
25
Return on average invested capital after tax (ROIC), %¹⁾
15
20
Return on equity, %
30
64
Equity ratio, %
31
16
Net asset value per outstanding share, DKK
67
28
N/A
Share data
Share price, DKK
772
812
-5%
Share price/net asset value per share
11.5
29.2
-61%
Average number of outstanding shares, millions
218.5
212.4
3%
PE, price/earnings ratio
35.7
38.2
-7%
Earnings per share (EPS), diluted
5.39
5.31
2%
Earnings per share (EPS) before special items, diluted
5.45
5.35
2%
Free cash flow per share
6.8
1.0
N/A
1) Before special items. After special items, ROIC before tax was 19% (2022/23: 25%), and ROIC after tax was 15% (2022/23: 20%).
Announcement no. 1/2024
3
9 February 2024
Sales performance
Organic growth in Q1 was 8%. Reported revenue in DKK was up by 8% to DKK 6,606 million. Revenue from acquisitions
contributed 4%-points, or DKK 229 million to reported growth as a result of the acquisition of Kerecis (three months impact).
Exchange rate developments decreased revenue by 4%-points, mainly related to the depreciation of the USD and ARS against
the DKK.
* Contribution from exchange rates to reported growth constitutes residual values and may be impacted by rounding of numbers.
Sales performance by business areas
DKK million
Growth composition (3 mths)
2023/24
(3 mths)
2022/23
(3 mths)
Organic
growth
Acquired
operations
Exchange
rates*
Reported
growth
Ostomy Care
2,382
2,274
8%
-
-3%
5%
Continence Care
2,067
1,987
8%
-
-4%
4%
Voice and Respiratory Care
508
480
7%
-
-1%
6%
Advanced Wound Care
946
678
9%
34%
-3%
40%
Interventional Urology
703
686
5%
-
-3%
2%
Revenue
6,606
6,105
8%
4%
-4%
8%
Sales performance by region
DKK million
Growth composition (3 mths)
2023/24
(3 mths)
2022/23
(3 mths)
Organic
growth
Acquired
operations
Exchange
rates*
Reported
growth
European markets
3,565
3,434
4%
-
0%
4%
Other developed markets
1,928
1,634
9%
15%
-6%
18%
Emerging markets
1,113
1,037
19%
-
-12%
7%
Revenue
6,606
6,105
8%
4%
-4%
8%
Announcement no. 11/2023
4
9 February 2023
Ostomy Care
Ostomy Care generated 8% organic
sales growth for the first quarter of
2023/24, with reported revenue in DKK
growing by 5% to DKK 2,382 million.
The SenSura® Mio portfolio was the
main contributor to growth, with good
performance across the product range
which includes Convex, Concave and
Flat products. The Brava® range of
supporting products also made a solid
contribution to growth. At the product
level, SenSura Mio Convex was the main
growth contributor driven by Europe, in
particular the UK and Germany, as well
as the US. The SenSura and
Assura/Alterna® portfolios contributed
to growth in Emerging markets, where
they are being actively promoted.
Growth in the Brava range of
supporting products was driven by
Europe, especially the UK, the US and
broad-based contribution from
Emerging markets.
From a geographical perspective,
growth was broad-based, with solid
contributions from Emerging markets,
driven by China and Eastern Europe, as
well as Europe, driven by the UK.
Growth in the US was held back by
order phasing, however, the underlying
demand continues to be strong.
China posted mid-single digit growth, as
expected, positively impacted by the
normalised level of procedural volumes.
The average value per patient remains
impacted by consumer sentiment.
Continence Care
Continence Care generated 8% organic
sales growth for the first quarter of
2023/24, with reported revenue in DKK
growing by 4% to DKK 2,067 million.
The SpeediCath® ready-to-use
hydrophilic intermittent catheters were
the main drivers of revenue growth.
Sales growth in the SpeediCath portfolio
was broad-based across standard,
compact and flexible catheters, and
driven by Europe, in particular the UK
and Germany, as well as the US and
Emerging markets. SpeediCath Navi, a
hydrophilic catheter specifically
designed for emerging markets and
lower priced developed markets, also
contributed nicely to growth.
Luja™ also contributed to growth in the
quarter. The product is now available in
ten markets, with the US and Germany
as the latest launch markets at the
beginning of 2024. The launch
continues to be off to a good start, with
positive customer feedback.
Bowel Care and Collecting Devices both
contributed to growth in the quarter. In
Bowel Care, growth was driven by solid
contribution from Peristeen® Plus in
Europe and the US.
From a geographical perspective,
growth was broad-based, with solid
contributions from Europe, primarily
driven by Germany and France, and the
US. The Emerging markets region also
made a solid growth contribution, led by
LATAM. Markets with recent
reimbursement openings, such as
Poland, Australia, Japan, and South
Korea, continued to perform well and
posted double-digit growth.
Ostomy Care
Organic growth
Reported growth
Continence
Care
Organic growth
Reported growth
8% 8%
Q1 2023/24 Q1 2022/23
5%
8%
Q1 2023/24 Q1 2022/23
8%
7%
Q1 2023/24 Q1 2022/23
4%
8%
Q1 2023/24 Q1 2022/23
Announcement no. 1/2024
5
9 February 2024
Voice and Respiratory
Care
Voice and Respiratory Care generated
7% organic sales growth for the first
quarter of 2023/24, with reported
revenue in DKK growing 6% to DKK 508
million. Growth in the quarter was
driven by solid momentum in both
Laryngectomy and Tracheostomy and
included some impact from
rationalisation of low-margin products.
Laryngectomy delivered high single-digit
organic growth. Growth was driven by
an increase in patients served in existing
and new markets and an increase in
patient value driven by the Provox®
Life™ portfolio, Atos Medical’s new
personalised solution and product line
which has been launched in 16 markets.
Tracheostomy posted high single-digit
organic growth, driven by solid demand
and positive impact from forward
integration in key European markets
and the US.
From a geographical perspective, all
regions contributed to growth, led by
the biggest region Europe. The US also
delivered a solid contribution to growth,
while the fastest growing region was
Emerging markets.
Atos Medical China achieved a
milestone with the first commercial sale
of a voice prosthesis in January 2024.
Following the full product portfolio
registration in 2023, the focus now shifts
towards working closely with healthcare
professionals to establish the standard
of care for laryngectomised patients in
China, which today are untreated. Atos
Medical China is now also part of the
legal Coloplast entity in China and will
benefit from Coloplast’s existing
infrastructure in the market.
Advanced Wound
Care
Advanced Wound Care generated 9%
organic sales growth for the first quarter
of the 2023/24 financial year, with
reported revenue in DKK growing by
40% to DKK 946 million. The reported
revenue includes three months impact
from the acquisition of Kerecis.
Advanced wound dressings in isolation
delivered 9% organic growth in the
quarter and benefited from a lower
baseline in Q1 last year.
The Biatain® Silicone portfolio was the
main contributor to growth. Biatain
Fiber continues to perform well and also
contributed to growth.
From a geographical perspective,
growth was broad-based across regions,
with Europe, in particular Germany, the
US and China as main growth
contributors.
Skin Care, which is mostly a US hospital
business, made a solid contribution to
growth in the first quarter, helped by a
lower baseline in Q1 last year.
The Compeed contract manufacturing
detracted from growth in the quarter,
impacted by a high baseline in Q1 last
year.
Q1 revenue for Kerecis amounted to
DKK 229 million, with solid underlying
growth of around 35% and continued
market share gains, in line with
expectations. The hospital channel and
surgical wounds were the main growth
contributors. From a geographical
perspective, both sales and growth
continued to be derived from the US.
Voice and
Respiratory
Care
Organic growth
Reported growth
Advanced
Wound Care
Organic growth
Reported growth
7%
Q1 2023/24 Q1 2022/23
6%
Q1 2023/24 Q1 2022/23
9%
1%
Q1 2023/24 Q1 2022/23
40%
5%
Q1 2023/24 Q1 2022/23
N/A
acquired
growth only
N/A
acquired
growth only
Announcement no. 1/2024
6
9 February 2024
Interventional Urology
Interventional Urology generated 5%
organic sales growth for the first quarter
of 2023/24, against a high baseline in
Q1 last year. Reported revenue in DKK
grew by 2% to DKK 703 million.
Growth was driven by solid contribution
from the Men’s Health business in the
US, driven by the Titan® penile implants.
The Endourology portfolio, driven by
Europe, also made a solid contribution
to growth. Thulium Fiber Laser Drive,
Coloplast’s laser equipment launched in
FY 2022/23, also contributed nicely to
growth in the quarter.
From a geographical perspective, the
US was the main growth contributor.
Interventional
Urology
Organic growth
Reported growth
5%
11%
Q1 2023/24 Q1 2022/23
2%
18%
Q1 2023/24 Q1 2022/23
Announcement no. 1/2024
7
9 February 2024
Earnings
Gross profit
Gross profit was DKK 4,504 million
compared to DKK 4,146 million last year
and equivalent to a gross margin of
68%, on par with last year. The gross
margin was positively impacted by a
decrease in freight rates, price
increases, country and product mix, as
well as a baseline benefit of around 40
basis points from the Italian pay-back
reform provision which was accounted
for during 2022/23. The inclusion of
Kerecis had a positive impact on the
gross margin of around 100 basis
points, in line with expectations.
The above-mentioned positive drivers
were partly offset by raw material price
increases, double-digit wage inflation in
Hungary and ramp-up costs in Costa
Rica. Currencies had a negative impact
on the gross margin, related mostly to
the depreciation of the USD and ARS
against the DKK and appreciation of the
HUF against the DKK. Around 75% of
the company’s production volumes are
in Hungary.
Costs
Operating expenses amounted to DKK
2,682 million, a DKK 310 million
increase (13%) from last year. Excluding
impact from inorganic operating
expenses from the Kerecis acquisition
(three months) operating expenses
increased 4%, or DKK 88 million from
Q1 last year.
Kerecis contributed with DKK 222
million to operating expenses in the first
quarter of 2023/24, of which DKK 26
million were amortisation costs.
Distribution costs amounted to DKK
2,130 million, a DKK 265 million (14%)
increase from DKK 1,865 million last
year and were mainly impacted by the
inclusion of Kerecis, as well as an
increased level of commercial activities.
Q1 distribution costs amounted to 32%
of revenue compared to 31% last year.
Administrative expenses amounted to
DKK 335 million, up DKK 38 million
(13%) from DKK 297 million last year,
primarily impacted by the inclusion of
Kerecis. Administrative expenses
accounted for 5% of revenue, on par
with last year.
The R&D costs were DKK 233 million,
compared to DKK 216 million last year,
and were mostly impacted by the
inclusion of Kerecis. R&D costs
amounted to 4% of revenue, on par
with last year.
Other operating income and other
operating expenses amounted to a net
income of DKK 16 million, against a net
income of DKK 6 million last year.
Operating profit before interest, tax,
depreciation and amortisation
(EBITDA) and before special items
EBITDA before special items amounted
to DKK 2,130 million, a DKK 95 million
(5%) increase from DKK 2,035 million
last year. The EBITDA margin before
special items was 32% compared to
33% last year.
Operating profit (EBIT) before special
items
EBIT before special items amounted to
DKK 1,822 million, a DKK 48 million
(3%) increase from DKK 1,761 million
last year. The EBIT margin before
special items was 28% compared to
29% last year. The EBIT margin was
negatively impacted by the inflationary
headwinds on production costs and the
increase in operating expenses, mainly
distribution costs. The inclusion of
Kerecis had a negative impact on the
EBIT margin of around 100 basis points,
in line with expectations.
The Q1 EBIT margin included negative
impact from currencies of around 120
basis points, mostly related to the
depreciation of the USD and ARS
against the DKK and the appreciation of
the HUF against the DKK.
Income statement, DKK million
2023/24
Index
Revenue
6,606
108
Production costs
-2,102
107
Gross profit
4,504
109
Distribution costs
-2,130
114
Administrative expenses
-335
113
Research and development costs
-233
108
Other operating income
21
233
Other operating expenses
-5
167
Operating profit (EBIT) before special items
1,822
103
Special items
-15
N/A
Operating profit (EBIT)
1,807
103
Financial income
82
265
Financial expenses
-335
92
Profit before tax
1,554
109
Tax on profit for the period
-342
114
Net profit for the period
1,212
108
Announcement no. 1/2024
8
9 February 2024
Special items
During Q1, Coloplast incurred special
items expenses of DKK 15 million,
related to integration costs for the Atos
Medical acquisition.
Operating profit (EBIT) after special
items
EBIT after special items was DKK 1,807
million, a DKK 46 million (3%) increase
from last year. The EBIT margin after
special items was 27%.
Financial items and tax
Financial items were a net expense of
DKK 253 million against a net expense
of DKK 334 million last year.
The net expense was impacted by
interest expenses of DKK 168 million
compared to DKK 116 million last year,
mostly related to the financing of the
Atos Medical acquisition. Net losses on
balance sheet items of DKK 139 million,
mostly driven by the ARS and the USD,
also contributed to the net expense. The
financial expenses were only partly
offset by financial income of DKK 82
million.
The tax rate was 22%, compared to
21% last year. The tax rate continued to
include positive impact from the transfer
of Atos Medical’s Intellectual Property.
The tax expense was DKK 342 million
compared to DKK 300 million last year.
Coloplast’s long-term tax rate
expectations are unchanged at around
23%.
Net profit
Net profit before special items was DKK
1,224 million, a DKK 87 million increase
from DKK 1,137 million last year.
Diluted earnings per share (EPS) before
special items increased by 2% from DKK
5.35 last year to DKK 5.45 and include
impact from the equity raise in August
2023. Net profit after special items was
DKK 1,212 million and diluted earnings
per share (EPS) after special items were
DKK 5.40.
Cash flows and
investments
Cash flows from operating activities
Cash flows from operating activities
amounted to DKK 1,788 million, against
DKK 487 million last year. The positive
development in cash flows from
operating activities was mostly driven by
lower income tax paid, impacted by the
transfer of Atos Medical’s Intellectual
Property. Changes in working capital also
positively impacted the cash flow, driven
by a favourable development in mostly
inventories, as well as trade and other
payables.
Investments
Net investments amounted to DKK 267
million in the first quarter of 2023/24 or
around 4% of revenue, compared with
DKK 275 million in Q1 last year.
Free cash flow
As a result, the free cash flow was an
inflow of DKK 1,521 million compared to
an inflow of DKK 212 million in the same
period last year.
Capital resources
At 31 December 2023, Coloplast had
net interest-bearing debt, including
securities, of DKK 20,719 million,
against DKK 18,660 million at 30
September 2023. The gearing ratio at
the end of the period was 2.4x EBITDA
(before special items).
Coloplast is committed to deleveraging
and bringing the gearing ratio down to
between 1x-2x EBITDA by 2024/25.
Statement of financial
position and equity
Balance sheet
At 31 December 2023, total assets
amounted to DKK 48,591 million, an
increase of DKK 432 million compared
to 30 September 2023.
Working capital was 26% of revenue, on
par with 30 September 2023.
Inventories decreased by DKK 3 million
to DKK 3,519 million. Trade receivables
increased by DKK 77 million to DKK
4,392 million, while trade payables
decreased by DKK 132 million to DKK
1,162 million, impacted by timing.
Coloplast’s long-term working capital-to-
sales ratio is unchanged and expected to
be around 24%, while the working
capital-to-sales ratio in FY 2023/24 is
expected to be around 25%.
Equity
Equity decreased by DKK 2,174 million
compared to 30 September 2023 to
DKK 15,125 million. Total
comprehensive income for the period of
DKK 1,297 million, net effect of sale of
treasury shares and loss of exercised
options of DKK 102 million and share-
based remuneration of DKK 22 million
were offset by payment of dividends of
DKK 3,595 million.
Treasury shares
At 31 December 2023, Coloplast’s
holding of treasury shares consisted of
3,375,175 B shares, which was 164,353
less than 30 September 2023. The
decrease was due to exercise of share
options.
Return on invested capital (ROIC)
ROIC after tax before special items was
15% against 17% as of 30 September
2023. The decrease was driven by the
acquisitions of Kerecis. Q1 2023/24 is
expected to be the trough on ROIC,
which is expected to improve going
forward.
Announcement no. 1/2024
9
9 February 2024
Update on sustainability strategy and performance
Priority
Unit
2025 Ambition
Q1
2023/24
Q1
2022/23
Change
FY
2022/23
Improving products and packaging
Recyclable packaging
1)
% of total
90%
-
-
-
72%
Renewable materials in packaging
1)
% of total
80%
-
-
-
66%
Production waste recycling
5)
% of total
75%
75%
74%
6)
1%-p
75%
Reducing emissions
Scope 1 and 2 emissions
5)
% reduction
100% reduction by 2030
2) 4)
13%
13%
6)
0%-p
10%
Renewable energy use
5)
% of total
100%
78%
75%
6)
3%-p
78%
Electric company cars
1)
% of total
100% by 2030
-
-
-
8%
Scope 3 emissions
1)
(by 2030)
% reduction per product
50% reduction by 2030
2) 4)
-
-
-
8%
Business travel by air
1)
% reduction
10% reduction
2)
-
-
-
41%
Goods transported by air
1)
% of total
< 5% of total
-
-
-
2%
Responsible operations
Lost time injury frequency
5)
Parts per million
2.0
2.8
2.4
0.4
2.6
Code of Conduct training
1)
% of white collars
100%
-
-
-
99%
Female senior leaders (VP+ level)
1)
% of total
40% by 2030
-
-
-
26%
Diverse teams
1) 6)
% share of total teams
75%
-
-
-
54%
Employee satisfaction
1) 3) 6)
Engagement score
Above benchmark
-
-
-
8.1
Improving products and packaging
Production waste recycling increased to
75% in Q1 2023/24
5
, on par with FY
2022/23 and in line with our 2025
ambition, driven by our partnership with
a recycling manufacturing in Hungary.
We continue to look for new use cases of
our production waste, especially at our
sites in Costa Rica and China.
Scope 1 and 2 emissions
The absolute scope 1 and 2 emissions
decreased by 13% in Q1 2023/24
5
,
compared to the base year 2018/19.
The reduction in absolute scope 1 and 2
emissions was positively impacted by
phasing out of natural gas, partly offset
by the inclusion of Atos Medical.
Excluding Atos Medical, scope 1 and 2
emissions decreased by 15% in Q1
2023/24.
Renewable energy use increased to 78%
of the total energy use in Q1 2023/24
5
,
compared to 75% in Q1 2022/23.
At Coloplast’s Danish sites in Humlebæk
and Mørdrup, district heating replaced
natural gas for heating at the end of
2023. The transfer to district heating
supports Coloplast’s ambition of 100%
renewable energy by 2025 and
contributes to the development of a
local distribution network to facilitate
wider usage of more sustainable
heating.
Responsible operations
In Q1 2023/24, lost time injury
frequency was 2.8 ppm, compared to
2.4 ppm in Q1 2022/23. We are working
on a number of initiatives to address
LTIs and reach our ambition of 2.0 ppm
by 2025.
Coloplast ranked as most sustainable
MedTech company
For the third year in a row, Coloplast is
recognised among the world’s most
sustainable corporations and ranked as
the most sustainable MedTech company
by Corporate Knights in their 2024
Global 100 Most Sustainable
Corporations of the World list
7
.
The inclusion on Corporate Knights’
Global 100 list reflects Coloplast’s
commitment to sustainability as a key
enterprise theme and the continued
effort to reduce our environmental
footprint, while continuing to make life
easier for people with intimate
healthcare needs.
CDP climate ranking
Coloplast received a CDP score of ‘B’ in
2023 on Climate change, which is an
improvement from last year’s score of
‘C’. This is above the Medical Equipment
and Supplies sector average of ‘C’.
All figures are excluding Kerecis.
1) Metric will only be reported on a semi-annual or full-year basis. 2) From base year 2018/19. 3) Employee survey conducted twice a year. Latest
industry benchmark from Q4 2022/23 was 7.8. 4) Target validated by Science-Based Targets initiative (SBTi). 5) Four quarters rolling average.
6) Figure excludes Atos Medical. 7) For more information on Corporate Knights’ Global 100 list, please refer to: Corporate Knights
Announcement no. 1/2024
10
9 February 2024
Other matters
Launch of Biatain® Silicone Fit for
pressure injury prevention and wound
management in the US
Coloplast is launching Biatain Silicone
Fit, a new silicone foam dressing with a
3DFit Technology, designed to provide a
soft, secure and comfortable fit.
In the US, chronic wounds are reported
to affect 10.5 million people annually
1
,
while 2.5 million people develop a
pressure injury in acute care facilities
each year
2
. Biatain® Silicone Fit is
designed for both pressure injury
prevention and wound management. It
stays securely in place during patient
movement, fitting to body creases and
allowing easy skin inspection as part of
pressure injury prevention protocols.
Biatain Silicone Fit is available in the US
as of January 2024 and comes in 12
different sizes and shapes to suit the
needs of healthcare providers and
patients. To reach the full potential of
the launch, Coloplast has invested in a
dedicated US wound care sales
organisation.
The global advanced wound dressings
market is estimated at DKK 26-28
billion, with an annual estimated growth
rate of 2-4%. Around 25-30% of the
market is derived from the US, where
products are typically used in the
hospital setting. With the launch,
Coloplast expects to expand its
presence in the silicone foam dressings
segment in the US.
Launch of Peristeen® Light,
a transanal irrigation (TAI) device in
Bowel Care
Coloplast is launching Peristeen Light, a
low-volume TAI device, designed to help
people with bowel disorders such as
constipation or faecal incontinence.
It is estimated that 10-15%
3
of the
global population is affected by chronic
constipation and 6%
4
struggle with
faecal incontinence. While TAI can help,
the journey to treatment is usually
challenging and many patients remain
untreated. For some patients, symptoms
are not considered severe enough, while
others can feel intimidated by existing
treatment and product offerings.
Peristeen Light is designed for ease of
use, with the aim to enable more people
to access the treatment. It is a hand-
held device, assembled in just two steps
and with a soft and flexible catheter that
enables a smooth insertion.
The product launch begins in February
2024 and the device is expected to be
available in European markets over the
next 12 months
5
.
The addressable bowel care market,
comprised of transanal irrigation
treatment, is estimated at around DKK 1
billion with a high-single digit growth
rate. Coloplast is the global market
leader in the bowel care segment. The
launch of Peristeen Light is expected to
contribute to Coloplast’s growth
trajectory for Bowel Care and help
solidify the company’s global market
leading position within transanal
irrigation.
War in Ukraine
Coloplast continues to monitor the war
in Ukraine closely. Our primary focus is
to keep our people safe and ensure our
around 100,000 users in Ukraine and
Russia have access to products to
manage their chronic conditions.
Coloplast complies with all sanctions
imposed by the EU, the UN and the US.
Coloplast’s commercial activity in Russia
has been reduced and the organisation
has been downsized to around 30
employees. Revenue exposure to Russia
and Ukraine in 2023/24 is expected to
be below 1% of group revenues, with a
negative growth contribution.
Save the date – Meet the Management
event on 6 June 2024
Coloplast will host a Meet the
Management event on 6 June 2024 in
Denmark. The event is intended
to give institutional investors and equity
analysts an opportunity to meet with
the broader management team and get
an update on the business and main
strategic themes. The event will also
include a dedicated session on Kerecis,
represented by its founder, Fertram
Sigurjonsson. Further details will be
announced in due time.
1. Sen CK. Human Wound and Its Burden: Updated 2022 Compendium of Estimates. Adv Wound Care (New Rochelle). 2023 Dec;12(12):657-670. (LINK)
2. Padula WV, Delarmente BA. The national cost of hospital-acquired pressure injuries in the United States. Int Wound J. 2019 Jun;16(3):634-640. (LINK)
3. Barberio B, Judge C, Savarino EV, et al. Global prevalence of functional constipation according to the Rome criteria: a systematic review and meta-analysis. The Lancet
Gastroenterology & Hepatology. 2021;6(8):638-48.
4. Sharma A, Yuan L, Marshall RJ, et al. Systematic review of the prevalence of faecal incontinence. The British journal of surgery. 2016;103(12):1589-97.
5. Peristeen Light is a CE marked medical device. Availability is dependent on individual country's regulatory process. Not available in the US.
Announcement no. 1/2024
11
9 February 2024
Long-term financial
guidance
8-10%
Organic growth p.a.
above 30%
EBIT margin beyond 2024/25
(at constant exchange rates)
The long-term organic growth guidance
includes around 1%-point accretion
from Kerecis as of FY 2024/25. For the
remaining Strive25 strategic period
running until end of 2024/25, the EBIT
margin is expected to remain
below 30% and assumes dilution of
around 100 basis points p.a. from
Kerecis (including PPA amortisation).
For financial assumptions on Kerecis,
please refer to: Kerecis acquisition
Key assumptions
unchanged
Current macroeconomic and industry-
specific trends are continuously
monitored and their potential impact on
our business is evaluated on an ongoing
basis. As such, the financial guidance is
subject to a higher degree of
uncertainty.
The addressable market in which
Coloplast operates is expected to
continue growing at 4-5%.
The organic revenue growth guidance
and EBIT margin guidance are
unchanged, and the assumptions laid
out in November 2023 still hold.
Revenue growth
Organic growth is expected around 8%
in constant currencies. The guidance
assumes growth across business areas
and regions to be largely in line with the
Strive25 ambitions, except for China.
a. Chronic Care:
• Improvement in growth in China,
however, China is not expected
to return to the Strive25
ambitions of double-digit growth,
due to continued impact from
average value per patient which
remains hindered by consumer
sentiment
b. Advanced Wound Care is expected
to deliver growth above the market
c. Interventional Urology is expected
to deliver high-single digit growth
d. Voice and Respiratory Care is
expected to grow at 8-10%
e. No current knowledge of significant
health care reforms; positive pricing
impact is expected. The expectation
of long-term price pressure of up to
1% annually is unchanged
f. A stable supply and distribution of
products across the company
Reported growth in DKK is now
expected to be around 11%, from
previously around 12%, due to negative
impact from currencies of around 1%-
point. Contribution from the Kerecis
acquisition is still expected around 4%-
points (11 months impact).
EBIT margin
The reported EBIT margin before
special items is expected at 27-28%,
and includes the following assumptions:
a. Input costs development:
• Raw materials – mid single-digit
price increase
• Tailwind from total energy costs
of around DKK 100 million on
the gross margin
• Tailwind from freight cost
• Wages in Hungary – double-digit
increase, similar to 2022/23
b. One-off baseline benefit of ~40 basis
points from the Italian pay-back
reform provision which was included
in the FY 2022/23 gross margin
c. Prudent management of operating
costs, expected to grow below
reported revenue in DKK (excluding
acquired growth)
d. Incremental investments at the
lower end of the Strive25 guidance
(up to 2% of sales in incremental
OPEX investments)
e. Benefit from operational synergies
related to integration of Atos
Medical on Coloplast infrastructure
f. Negative impact from Kerecis of
around 100 basis points, which
includes around DKK 100 million in
PPA amortisation
g. Negative impact from currencies of
around 50 basis points
Special items of around DKK 50 million,
related to the Atos Medical integration.
Capex includes investments in the new
manufacturing site in Portugal,
investments in new machines for
existing and new products, IT and
sustainability investments, as well as
Atos Medical integration capex.
2023/24
Financial
guidance
Around 8
%
Organic revenue growth
at constant exchange rates
27-28
%
Reported EBIT margin
(before special items)
Around 1.4 bn
Capital expenditure in DKK
Around 22
%
Effective tax rate
Announcement no. 1/2024
12
9 February 2024
Effective tax rate and tax payments
The effective tax rate is expected to be
around 22%, positively impacted by the
transfer of Atos Medical Intellectual
Property (IP).
Following the IP transfer there will be an
extraordinary net tax payment of DKK
2.5 billion in FY 2023/24, impacting
mostly Q2. The payment will be offset
by reduced tax payments the following
years.
Dividend policy
The Board of Directors intends to
distribute excess liquidity to the
shareholders through dividends and
share buybacks, with a target payout
ratio of 60-80% of net profit.
Forward-looking
statements
The forward-looking statements in this
announcement, including revenue and
earnings guidance, do not constitute a
guarantee of future results and are
subject to risk, uncertainty and
assumptions, the consequences of
which are difficult to predict.
The forward-looking statements are
based on our current expectations,
estimates and assumptions and are
provided on the basis of information
available to us at the present time.
Major fluctuations in the exchange rates
of key currencies, significant changes in
the healthcare sector or major
developments in the global economy
may impact our ability to achieve the
defined long-term targets and meet our
guidance. This may impact our
company’s financial results.
Exchange rate
exposure
Our financial guidance for the 2023/24
financial year has been prepared on the
basis of the following assumptions for
the company’s principal currencies:
OVERVIEW OF EXCHANGE RATES FOR
KEY CURRENCIES AGAINST DKK
GBP
USD
HUF
Average exchange
rate 3M 2022/23
855
729
1.81
Average exchange
rate 3M 2023/24
856
697
1.92
Change in average
exchange rates for
2023/24 compared
with the same
period last year
0%
-4%
6%
Average exchange
rate 2022/23¹⁾
855
698
1.92
Spot rate on
6 February 2024
871
694
1.93
Estimated average
exchange rate
2023/24²⁾
867
695
1.93
Change in
estimated average
exchange rates
compared with
average exchange
rate 2022/23
1%
0%
1%
¹⁾ Average exchange rates for 2022/23 are
from 1 October 2022 to 30 September 2023.
²⁾ Estimated average exchange rates are
calculated as the average exchange rates for
the first three months combined with the spot
rates at 6 February 2024.
Revenue is particularly exposed to
developments in USD and GBP relative
to DKK. Fluctuations in HUF against
DKK impact the operating profit
because a substantial part of our
production, and thus of our costs, are in
Hungary, whereas our sales there are
moderate.
EFFECT OVER 12 MONTHS OF A 10%
INITIAL DROP IN EXCHANGE RATES FOR
KEY CURRENCIES (DKK MILLION)
Revenue
EBIT
USD
-710
-220
GBP
-350
-220
HUF
-
130
Announcement no. 1/2024
13
9 February 2024
report, no changes have occurred to the
Executive Management
Executive Vice President
Board of Directors
Announcement no. 1/2024
14
9 February 2024
Statement of comprehensive income
1 October – 31 December, unaudited
Consolidated
2023/24
2022/23
DKK million
Note
Q1
Q1
Index
Revenue
2
108
Production costs
-2,102
-1,959
107
Gross profit
109
Distribution costs
-2,130
-1,865
114
Administrative expenses
-335
-297
113
Research and development costs
-233
-216
108
Other operating income
>200
Other operating expenses
-5
-3
167
Operating profit (EBIT) before special items
103
Special items
3
-15
-13
-
Operating profit (EBIT)
103
Financial income
4
>200
Financial expenses
4
-335
-365
92
Profit before tax
109
Tax on profit for the period
-342
-300
114
Net profit for the period
108
Remeasurements of defined benefit plans
-6
-2
Tax on remeasurements of defined benefit plans
Items that will not be reclassified to the income statement
-4
-2
Value adjustment of currency hedging
Transferred to financial items
-53
Tax effect of hedging
-30
Currency adjustment of opening balances and other value adjustments relating to
subsidiaries
-473
Items that may be reclassified to income statement
-343
Total other comprehensive income
-345
Total comprehensive income
DKK
Earnings per share (EPS)
Earnings per share (EPS), diluted
Announcement no. 1/2024
15
9 February 2024
Statement of cash flows
1 October – 31 December, unaudited
Consolidated
2023/24
2022/23
DKK million
Note
3 mths
3 mths
Operating profit
Amortisation
Depreciation
Adjustment for other non-cash operating items
6
-66
-73
Changes in working capital
6
-112
-501
Ingoing interest payments, etc.
Outgoing interest payments, etc.
-146
-102
Income tax paid
-60
-880
Cash flows from operating activities
Investments in intangible assets
-40
-77
Investments in land and buildings
-1
-1
Investments in plant and machinery and other fixtures and fittings, tools and equipment
-8
-11
Investments in property, plant and equipment under construction
-227
-186
Property, plant and equipment sold
Company divestment
Cash flows from investing activities
-267
-275
Free cash flow
Dividend to shareholders
-3,595
-3,185
Sale of treasury shares and loss on exercised options
Financing from shareholders
-3,494
-3,180
Repayment of lease liabilities
-62
-66
Drawdown on credit facilities
Cash flows from financing activities
-1,477
Net cash flows
Cash and cash equivalents at 1 October
Value adjustment of cash and bank balances
-35
-29
Cash and cash equivalents, disposed operations
-4
Net cash flows
Cash and cash equivalents at 31 December
7
The cash flow statement cannot be derived using only the published financial data.
Announcement no. 1/2024
16
9 February 2024
Assets
At 31 December, unaudited
Consolidated
DKK million
Note
31.12.23
31.12.22
30.09.23
Intangible assets
31,255
Property, plant and equipment
5,131
Right-of-use assets
848
Other equity investments
65
Deferred tax asset
884
Other receivables
39
Non-current assets
38,222
Inventories
3,522
Trade receivables
4,315
Income tax
532
Other receivables
273
Prepayments
384
Marketable securities
-
Cash and cash equivalents
911
Current assets
9,937
Assets
48,159
Announcement no. 1/2024
17
9 February 2024
Equity and liabilities
At 31 December, unaudited
Consolidated
DKK million
Note
31.12.23
31.12.22
30.09.23
Share capital
228
Currency translation reserve
-1,443
-1,307
-1,579
Reserve for currency hedging
423
Proposed ordinary dividend for the year
-
-
3,595
Retained earnings
14,632
Equity
17,299
Provisions for pensions and similar liabilities
124
Provision for deferred tax
2,122
Other provisions
71
Bonds
5
11,558
Other payables
4
Lease liability
664
Prepayments
6
Non-current liabilities
14,549
Provisions for pensions and similar liabilities
7
Other provisions
186
Bonds
5
4,847
Other credit institutions
2,268
Trade payables
1,294
Income tax
4,229
Other payables
3,249
Lease liability
230
Prepayments
1
Current liabilities
16,311
Equity and liabilities
48,159
Announcement no. 1/2024
18
9 February 2024
Statement of changes in equity, current year
At 31 December, unaudited
Consolidated
Share capital
Reserves
DKK million
A shares
B shares
Currency
translation
Currency
hedging
Proposed
dividend
Retained
earnings
Total
2023/24
Equity at 1 October
-1,579
Net profit for the period
Other comprehensive income
-18
-33
Total comprehensive income
-18
Sale of treasury shares and loss on
exercised options
Share-based payment
Dividend paid out in respect of
2022/23
-3,595
-3,595
Transactions with shareholders
-3,595
-3,471
Equity at 31 December
-1,443
Announcement no. 1/2024
19
9 February 2024
Statement of changes in equity, last year
At 31 December, unaudited
Consolidated
Share capital
Reserves
DKK million
A shares
B shares
Currency
translation
Currency
hedging
Proposed
dividend
Retained
earnings
Total
2022/23
Equity at 1 October
-910
Net profit for the period
Other comprehensive income
-397
-78
-345
Total comprehensive income
-397
Sale of treasury shares and loss on
exercised options
Share-based payment
Dividend paid out in respect of
2021/22
-3,185
-3,185
Transactions with shareholders
-3,185
-3,169
Equity at 31 December
-1,307
Announcement no. 1/2024
20
9 February 2024
Key accounting policies
1 Accounting policies
Profit and loss
2 Segment information
3 Special items
4 Financial income and expenses
Assets and liabilities
5 Bonds
Cash flows
6 Specifications of cash flow from operating activities
7 Cash and cash equivalents
Other disclosures
8 Contingent liabilities
List of notes
Announcement no. 1/2024
21
9 February 2024
Note 1
Accounting policies
The financial statements in this report is prepared in accordance with International Financial Reporting Standards as adopted by
the EU and additional Danish disclosure requirements for listed companies. The accounting policies for recognition and
measurement applied in the preparation of the financial statements in this report are consistent with those applied in the Annual
Report 2022/23.
Note 2
Segment information
Operating segments
The operating segments are defined on the basis of the monthly reporting to the Executive Leadership Team, which is
considered the senior operational management and the management structure. Reporting to the Executive Leadership Team is
based on five operating segments: Chronic Care, Voice and Respiratory Care, Interventional Urology, Advanced Wound
Dressings and Biologics.
The segment Chronic Care covers the sale of ostomy care products and continence care products. The segment Voice and
Respiratory Care covers the sale of laryngectomy and tracheostomy products. The segment Interventional Urology covers the
sale of urological products, including disposable products. The segment Advanced Wound Dressings covers the sale of wound
and skin care products and Compeed contract manufacturing. The segment Biologics represents a new segment, obtained
through the acquisition of Kerecis, covering the sale of tissue-based products. The segmentation reflects the structure of
reporting to the Executive Leadership Team.
The shared/non-allocated costs comprises support functions (production units and staff functions) and eliminations, as these
functions do not generate revenue. While the costs of R&D for Interventional Urology, Voice and Respiratory Care and Biologics
are included in the segment operating profit/loss for the above-mentioned segments, R&D activities for Chronic Care and
Advanced Wound Dressings are shared functions which are included in shared/non-allocated functions. The shared/non-
allocated costs also include PPA amortisation expenditures related to Voice and Respiratory Care and Biologics. Financial items
and income tax are not allocated to the operating segments.
The Executive Leadership Team reviews each operating segment separately, applying their market contributions to earnings
and allocating resources on that basis. The market contribution is defined as external revenue less the sum of direct production
costs, distribution costs, sales costs, marketing costs and administrative expenses. Costs are allocated directly to segments.
Certain immaterial indirect costs are allocated systematically to the shared/non-allocated and the reporting segments.
The Executive Leadership Team does not receive reporting on assets and liabilities by the reporting segments. Accordingly, the
reporting segments are not measured in this respect, nor do we allocate resources on this background. No single customer
accounts for more than 10% of revenue.
Announcement no. 1/2024
22
9 February 2024
Note 2, continued
DKK million
Chronic Care
Voice and
Respiratory
Care
Interventional
Urology
Advanced
Wound
Dressings
Biologics
Group
2023/24
Segment revenue:
Ostomy Care
2,382
-
-
-
-
2,382
Continence Care
2,067
-
-
-
-
2,067
Voice and Respiratory Care
-
508
-
-
-
508
Interventional Urology
-
-
703
-
-
703
Advanced Wound Care
-
-
-
717
229
946
External revenue as per the
statement of comprehensive
income
4,449
508
703
717
229
6,606
Costs allocated to segment
-1,857
-338
-462
-458
-206
-3,321
Segment operating profit/loss
2,592
170
241
259
23
3,285
Shared/non-allocated
-1,463
Special items not included in segment operating profit/loss (see note 3)
-15
Operating profit before tax (EBIT) as per the statement of comprehensive income
1,807
Net financials
-253
Tax on profit/loss for the year
-342
Profit/loss for the year as per the statement of comprehensive income
1,212
DKK million
Chronic Care
Voice and
Respiratory
Care
Interventional
Urology
Advanced
Wound
Dressings
Biologics
Group
2022/23
Segment revenue:
Ostomy Care
2,274
-
-
-
-
2,274
Continence Care
1,987
-
-
-
-
1,987
Voice and Respiratory Care
-
480
-
-
-
480
Interventional Urology
-
-
686
-
-
686
Advanced Wound Care
-
-
-
678
-
678
External revenue as per the
statement of comprehensive
income
4,261
480
686
678
-
6,105
Costs allocated to segment
-1,805
-324
-442
-429
-
-3,000
Segment operating profit/loss
2,456
156
244
249
-
3,105
Shared/non-allocated
-1,331
Special items not included in segment operating profit/loss (see note 3)
-13
Operating profit before tax (EBIT) as per the statement of comprehensive income
1,761
Net financials
-334
Tax on profit/loss for the year
-300
Profit/loss for the year as per the statement of comprehensive income
1,127
Announcement no. 1/2024
23
9 February 2024
Note 3
Special items
DKK million
2023/24
2022/23
Expenses related to business combinations
15
13
Total
15
13
Special items contains expenses related to business combinations.
Note 4
Financial income and expenses
DKK million
2023/24
2022/23
Financial income
Interest income
22
1
Fair value adjustments of forward contracts transferred from other comprehensive income
34
-
Fair value adjustments of cash-based share options
1
-
Interest hedges
19
19
Hyperinflationary adjustment of monetary position
6
10
Other financial income
-
1
Total
82
31
Financial expenses
Interest expenses
39
23
Interest expenses, lease liabilities
6
6
Interest expenses, bonds
129
93
Fair value adjustments of forward contracts transferred from other comprehensive income
-
37
Net exchange adjustments
139
182
Other financial expenses and fees
22
24
Total
335
365
Announcement no. 1/2024
24
9 February 2024
Note 5
Bonds
Bonds
Coloplast has in 2021/22 raised EUR 2.2 billion in debt financing through the issuance of senior unsecured notes in an
aggregate principal amount of EUR 2.2 billion under the Coloplast Euro Medium Term Note programme. The Notes are
unconditionally and irrevocably guaranteed by Coloplast. COLOCB1 Floating Rate Note carries a coupon adjusted quarterly.
COLOCB2 carries a fixed coupon for five years, and COLOCB3 carries a fixed coupon for eight years.
COLOCB2 and COLOCB3 can be redeemed at a market price fixed on the redemption date in relation to named EUR bonds
with similar maturity.
A pre-hedge was made with Interest swaps on COLOCB2 and COLOCB3 with mandatory breakage on the day the bonds are
issued to limit the financial risks. The gain of DKK 521 million has as per hedge accounting been set off in the equity and
transferred to the financial items during the lifetime of the bonds.
Short name
Currency
Amount, million
Expiry date
Coupon¹⁾
COLOCB1
EUR
650
19-05-2024
4.75
COLOCB2
EUR
850
19-05-2027
2.25
COLOCB3
EUR
700
19-05-2030
2.75
¹⁾ Fixed for COLOCB1 as per 17-11-2023. The coupon rate is set as 3M Euribor + 0.75%.
Note 6
Specifications of cash flow from operating activities
DKK million
2023/24
2022/23
Change in other provisions
-87
-85
Other non-cash operating items
21
12
Adjustment for other non-cash operating items
-66
-73
Inventories
-63
-305
Trade receivables
-169
-145
Other receivables, including amounts held in escrow
-77
-27
Trade and other payables etc.
197
-24
Changes in working capital
-112
-501
Announcement no. 1/2024
25
9 February 2024
Note 8
Cash and cash equivalents
DKK million
2023
2022
Bank deposits, short term
916
671
Cash and cash equivalents at 31 December
916
671
Note 9
Contingent liabilities
The Coloplast Group is a party to a few minor legal proceedings, which are not expected to influence the Group’s future
earnings.
Announcement no. 1/2024
26
9 February 2024
Income statement, quarterly
Unaudited
Consolidated
2023/24
2022/23
DKK million
Q1
Q4
Q3
Q2
Q1
Revenue
6,606
6,226
6,108
6,061
6,105
Production costs
-2,102
-2,094
-2,085
-2,034
-1,959
Gross profit
4,504
4,132
4,023
4,027
4,146
Distribution costs
-2,130
-1,905
-1,866
-1,882
-1,865
Administrative expenses
-335
-279
-262
-277
-297
Research and development costs
-233
-231
-216
-209
-216
Other operating income
21
17
13
17
9
Other operating expenses
-5
-20
-6
-5
-3
Operating profit (EBIT) before special items
1,822
1,714
1,686
1,671
1,774
Special items
-15
-69
28
-20
-13
Operating profit (EBIT)
1,807
1,645
1,714
1,651
1,761
Financial income
82
81
37
42
31
Financial expenses
-335
-199
-141
-232
-365
Profit before tax
1,554
1,527
1,610
1,461
1,427
Tax on profit for the period
-342
-298
-338
-306
-300
Net profit for the period
1,212
1,229
1,272
1,155
1,127
DKK
Earnings per share (EPS) before special items
5.45
5.72
5.88
5.51
5.36
Earnings per share (EPS)
5.39
5.47
5.99
5.44
5.31
Earnings per share (EPS) before special items, diluted
5.45
5.72
5.88
5.51
5.35
Earnings per share (EPS), diluted
5.39
5.47
5.98
5.44
5.31
Announcement no. 1/2024
27
9 February 2024
Our mission
Making life easier for people
with intimate health care needs
Our values
Closeness... to better understand
Passion... to make a difference
Respect and responsibility... to guide us
Our vision
Setting the global standard
for listening and responding
For further information, please contact
Investors and analysts
Anders Lonning-Skovgaard
Executive Vice President, CFO
Tel. +45 4911 1111
Aleksandra Dimovska
Senior Director, Investor Relations
Tel. +45 4911 1800 / +45 4911 2458
Email: dkadim@coloplast.com
Kristine Husted Munk
Senior Manager, Investor Relations
Tel. +45 4911 1800 / +45 4911 3266
Email: dkkhu@coloplast.com
Press and media
Peter Mønster
Sr. Media Relations Manager
Tel. +45 4911 2623
Email: dkpete@coloplast.com
Address
Company 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 English version
shall prevail.
Coloplast was founded on passion, ambition, and commitment. We were born from a nurse’s wish to help her sister and
the skills of an engineer. Guided by empathy, our mission is to make life easier for people with intimate healthcare needs.
Over decades, we have helped millions of people to live a more independent life and we continue to do so through
innovative products and services. Globally, our business areas include Ostomy Care, Continence Care, Advanced Wound
The Coloplast logo is a
registered trademark of
Coloplast A/S. © 2024-02
All rights reserved Coloplast A/S,
3050 Humlebaek, Denmark.