Download the financial results for H1 (2010).

Highlights:

• Organic revenue growth was 7%. Changes in exchange rates reduced revenue growth by 1 percentage point. Revenue in Danish kroner was up by 6% to DKK 4,568m.
• Organic growth rates by business area: Ostomy Care 7%, Urology & Continence Care 10%. In Wound & Skin Care sales were unchanged from last year.
• Gross profit was up by 10% to DKK 2,779m, increasing the gross margin to 61% from 58% in the same period last year.
• EBIT was up by 41% to DKK 905m. 
•  The EBIT margin was 20% against 15% in H1 2008/09. When adjusted for special items, the EBIT margin was 21%.
•  The free cash flow improved by DKK 183m relative to H1 2008/09 to DKK 469m.
•  ROIC after tax was 20%, compared with 13% in H1 2008/09.
•  The share buy-back programme was launched in February 2010 and buy-backs during the period to 31 March 2010 amounted to DKK 179m.

The full-year guidance for 2009/10 has been adjusted as follows:

• We continue to expect organic revenue growth of 6–7%. This translates into revenue growth in DKK of 6–7% instead of the previous guidance of 5–6%.
• We now expect an EBIT margin of 19–20% both at constant exchange rates and in DKK, against the previous guidance of around 19%.
• Capital expenditure is expected to be about DKK 350m instead of the previous guidance of DKK 500m.
• The effective tax rate is still expected to be around 27%.