Coloplast delivered 8% organic revenue growth in the first three months of the 2018/19 financial year, while reported growth in Danish kroner was up by 9% to DKK 4,321m. Currency developments reduced revenue by less than 1%, and revenue from acquisitions contributed 1%.
Organic growth rates by business area were 8% in Ostomy Care, 8% in Continence Care, 9% in Interventional Urology, and 11% in Wound & Skin Care.
Looking at sales by geography, the European markets contributed with 6% growth, Other developed markets delivered 10% revenue growth, while Emerging Markets provided a 14% increase.
“We maintain solid growth rates across all geographical regions and business areas. I would like to highlight our strong performance in Europe driven by new product launches and our Wound Care business delivering 10% organic growth driven by the Biatain® Silicone portfolio in UK and France. Our organic revenue growth is twice the market growth, and we maintain our guidance for 2018/19. In short, we are off to a good start to the financial year,” says newly appointed Coloplast CEO Kristian Villumsen.
Investments in further growth
Coloplast continued its incremental investments in growth of up to 2% of revenue during the first quarter. Investments were made in innovation as well as sales and marketing initiatives across multiple markets and business areas.
In addition, Coloplast is expanding its SpeediCath® portfolio with the launch of SpeediCath® Navi. SpeediCath® Navi is a hydrophilic catheter designed specifically for Emerging Markets and it will be launched during 2019 and 2020.
- “As part of our investments in Emerging Markets, we’re proud to be able to offer a product developed specifically for catheter users in this region. Our aim is to raise the standard of care and to accommodate markets with lower reimbursement. I’m confident that SpeediCath® Navi will make a big difference to our users, while giving Coloplast a strong competitive edge,” says Mr Villumsen.
Financial guidance for 2018/19
Coloplast continues to expect organic revenue growth of ~8% at constant exchange rates and a reported growth in DKK of 8-9%.
Coloplast continues to expect an EBIT margin of 30%-31% at constant exchange rates and a reported EBIT margin of ~31% in DKK.
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