Interim financial report, 9M 2009/10

Download the report


Highlights

• Organic revenue growth was 7%. Revenue in DKK was also up by 7% to DKK 7,020m.
• Organic growth rates by business area: Ostomy Care 7%, Urology & Continence Care 9%. In Wound & Skin Care sales were unchanged from last year.
• Gross profit was up by 11% to DKK 4,263m, bringing the gross margin to 61% from 58% in 9M 2008/09.
• EBIT was up by 44% to DKK 1,425m.
• The EBIT margin was 20% against 15% in 9M 2008/09.
• The free cash flow improved by DKK 209m relative to 9M 2008/09 to DKK 957m.
• ROIC after tax was 22%, compared with 14% in 9M 2008/09.

The first part (DKK 500m) of the share buy-back programme launched in February 2010 has now been completed.

The financial guidance for the 2009/10 financial year has been adjusted as follows:

• We continue to expect organic revenue growth of 6–7%. This translates into revenue growth in DKK of 7–8%.
• We expect an EBIT margin of around 20% both at constant exchange rates and in DKK, against the previous guidance of 19-20%.
• Capital expenditure is still expected to be around DKK 350m.
• The effective tax rate is now expected to be around 26% instead of the previous forecast of 27%.
• The long-term financial targets will be met in the current financial year.