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  • Press release
8 Sep 2021
Coloplast opens new factory in Costa Rica

Coloplast opens new factory in Costa Rica

Today, Coloplast opens its first factory in Central America to support the global growth of the company, which produces medical devices, including ostomy pouches and catheters, for people with intimate healthcare needs.

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The site is located in Cartago, Costa Rica, and will initially manufacture the company’s ostomy products. The new site supports Coloplast’s ambition of achieving an annual organic growth rate of 7-9% towards 2025.

 

-        “Our new factory in Costa Rica is another great milestone in the company’s mission to help those with intimate healthcare needs. The purpose of the factory is to meet the increasing demand by producing and supplying products that will improve the quality of life for many people worldwide,” says Kristian Villumsen, President and CEO of Coloplast.

 

The factory is situated near one of Coloplast’s key markets, the US, and it is the company’s first site in Central America. It is the first of two planned factories in Costa Rica. The next factory is expected to be operational in the second half of 2022. Both factories will be connected to Costa Rica’s electrical power grid, which is supplied by almost 100% renewable sources. This supports the company’s sustainability ambition of using 100% renewable energy in its own production by 2025.

 

-        “We have chosen to establish our next factories in Costa Rica for several reasons. Firstly, the country has qualified and highly trained labour that we can now attract. In addition, the Costa Rican authorities are very cooperative and supportive. The country also has a green electricity supply, thereby supporting our sustainability ambition. Finally, Costa Rica is close to the US, which is one of our largest growth markets,” says Allan Rasmussen, Executive Vice President, Global Operations.

 

In addition to members of Coloplast’s senior management, the Costa Rican President Carlos Andrés Alvarado Quesada will also be present at the inauguration of the factory. Coloplast has created more than 200 jobs in Costa Rica so far, and the company expects this number to be close to 700 by 2025. The overall investment in the two factory buildings amounts to more than half a billion Danish kroner.

 

Coloplast also has production facilities in Denmark, Hungary, China, France, and the US. Today, Hungary accounts for approx. 80% of the global volume production.

 

CONTACT

Peter Mønster

Senior Media Relations Manager, Corporate Communications

+45 49 11 26 23

dkpete@coloplast.com

  • Press release
18 Aug 2021

Coloplast delivers 11% organic growth in Q3 and an EBIT margin of 33%

Organic growth in Q3 was 11% and reported revenue in DKK was up by 9% to DKK 4,835 million. EBIT amounted to DKK 1,592 million, a 16% increase from last year, corresponding to an EBIT margin of 33%, which reflects efficiency gains and lower costs due to COVID-19, partly offset by continued investments.

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Year to date organic growth was 6% and reported revenue in DKK increased by 3% to DKK 14,326 million. EBIT before special items was DKK 4,705 million in the first nine months of the financial year, corresponding to an EBIT margin before special items of 33% against 31% last year. ROIC after tax before special items was 43% and diluted earnings per share (EPS) before special items increased by 17% to DKK 17.24.

 

-          “COVID-19 continues to impact our business, but the situation is improving, and I am encouraged by the rollout of the vaccination programmes and the improvement in hospital access across markets. Growth in new patients within our Chronic Care business is either largely normalised at pre-covid levels or approaching normalisation. This gives me confidence that growth rates will improve going forward.” says CEO Kristian Villumsen and continues.

 

-          “I would like to highlight a strong quarter in Interventional Urology, led by the US and our Men’s Health business, as well as solid momentum in our Wound & Skin Care business, driven by Europe and China and a strong contribution from our Biatain Silicone portfolio. Growth in our Chronic Care business in Europe is also picking up driven by an increase in new patients, and our Emerging markets business is on track to delivering a strong year.”

 

-          “We continue to move forward with our 2025 strategy, Strive25, which focuses on innovation and growth, and we are making solid progress with our Clinical Performance Programme. This quarter, we have received the CE mark for our new Digital Ostomy Tool developed to avoid leakage accidents and we will soon initiate payer pilot studies in Germany and the UK. Towards the end of 2021, we will initiate a pivotal study on our new Ostomy Platform designed to reduce skin irritation – a significant issue for ostomy users. Finally, we have made solid progress on the product design and performance of our new Catheter Platform, which is now expected to launch in the first half of this strategy period.”

 

Organic growth rates by business area in Q3 were 4% in Ostomy Care, 5% in Continence Care, 82% in Interventional Urology, and 17% in Wound & Skin Care. Looking at organic growth rates by geography in Q3, the European markets reported 10% growth, Other developed markets contributed with 17% growth, while Emerging markets grew 8%.

Country-by-country tax reporting

Coloplast continues to demonstrate a strong commitment to sustainability initiatives and company ethics, including improved ESG reporting. Consequently, the Board of Directors has decided that Coloplast will publish country-by-country tax reporting together with the Annual Report 2020/21 on 1 November 2021.

 

Climate-related criteria in renumeration
Coloplast’s Board of Directors is currently discussing Executive Leadership remuneration and upon approval at this year’s Annual General Meeting climate-related criteria will be incorporated into the short-term incentive plan for 2021/22. 

 

2020/21 financial guidance narrowed
Coloplast now expects organic revenue growth in the lower end of the 7-8% range at constant exchange rates. Reported growth in DKK is still expected to be 4-5%.

The EBIT margin guidance before special items is now expected to be in the upper end of the 32-33% range. After special items, the reported EBIT margin is now expected to be in the upper end of the 31-32% range.

 

Capital expenditure is still expected to be around DKK 1.1 billion. The effective tax rate is still expected to be around 23%.

 

CONTACTS

Peter Mønster

Senior Media Relations Manager, Corporate Communications

+45 49 11 26 23

dkpete@coloplast.com

 

Ellen Bjurgert

Vice President, Investor Relations

+45 49 11 33 76

dkebj@coloplast.com

 

 

Financial highlights and key ratios

 

 

 DKKm 

2020/21 – Q3 

2019/20 – Q3

Change

Revenue

4,835

4,419

9%

EBIT

1,592

1,368

16%

EBIT margin

33%

31%

2%-pts

Net profit

1,254

997

26%

 

 

 

Sales performance by business area

 

DKKm

2020/21 – Q3

2019/20 – Q3

Organic growth

Reported growth

Ostomy Care

1,915

1,870

4%

2%

Continence Care

1,744

1,680

5%

4%

Interventional Urology

542

313

82%

73%

Wound & Skin Care

634

556

17%

14%

Net revenue

4,835

4,419

11%

9%

 



Sales performance by region

 

DKKm

2020/21 – Q3

2019/20 – Q3

Organic growth

Reported growth

European markets

2,844

2,577

10%

10%

Other developed markets

1,183

1,083

17%

9%

Emerging markets

808

759

8%

6%

Net revenue

4,835

4,419

11%

9%

 

 

 

 

Financial highlights for the first 9 months of 2020/2021

 

DKKm

2020/21 – 9mths

2019/20 – 9mths

Change

Revenue

14,326

13,954

3%

EBIT before special items

4,705

4,382

7%

EBIT margin before special items

33%

31%

2%-pts

EBIT margin after special items

31%

31%

-

Special items*

-200

0

nm

Net profit

3,520

3,156

12%

 

*DKK 200m as further provision to cover potential settlements and costs related to the existing lawsuits in the US alleging injury resulting from the use of transvaginal surgical mesh products.

 

 

 Financial guidance for 2020/21

Financial guidance

 

Guidance for 2020/21

Guidance for 2020/21 (DKK)

Sales growth

7-8% (organic) (lower end)

4-5%

EBIT margin before special items

-

32-33% (upper end)

EBIT margin after special items

-

31-32% (upper end)

Capital expenditure

-

~1.1 billion

Tax rate

-

~23%



  • Press release
6 May 2021

Coloplast delivers 2% organic growth in Q2 as well as an EBIT margin of 33% and raises full-year underlying EBIT margin guidance from 31-32% to 32-33%

Organic growth in Q2 was adversely impacted by the COVID-19 pandemic as well as DKK 150 million in stock building in primarily Europe in Q2 last year. EBIT increased by 2% to 1,577m corresponding to an EBIT margin of 33% before special items. The company maintains full-year organic growth guidance at 7-8% and raises expectations for the EBIT margin from 31-32% to 32-33% before special items.

Read news story

The company reported 2% organic growth in Q2. Reported revenue in DKK was down by 1% to DKK 4,753 million, impacted by the depreciation of the USD and a number of Emerging markets currencies against DKK. The EBIT margin was 33% before special items against 32% last year, which reflects continued strong cost control during the COVID-19 pandemic as well as sustained investments in growth opportunities and innovation. EBIT was impacted by a further DKK 200m provision for costs related to the existing lawsuits in the US alleging injury resulting from the use of transvaginal surgical mesh products.

In the first six months of the financial year, organic growth was 4% and the EBIT margin was 33% before special items.

“COVID-19 continues to impact our business, but we are encouraged by the vaccination roll-out and remain committed to our priorities: We want to keep our employees safe, while continuing to serve our customers, who rely on our products and services to manage their conditions. I am proud of our teams. They have managed the pandemic with determination and discipline, says CEO Kristian Villumsen and continues.

“I would like to highlight our solid Q2 performance in Emerging Markets, led by China, and our strong momentum in Wound Care, driven by Europe and China as well as our newly launched Biatain® Fiber portfolio. Our Interventional Urology business delivered another quarter of growth driven by the Men’s Health portfolio in the US, which continues to lead the recovery as elective procedures resume.”

“As expected, our Chronic Care business was negatively impacted by COVID-19 in Q2, due to lower growth in new patients in Europe and a tough comparison period in Q2 of last year, where we saw significant stock building in Europe in the early days of the pandemic. As we head into the second half of this financial year, we expect that growth will pick up, as elective procedures and hospital activity resume in line with the vaccine roll-out.”

Organic growth rates by business area in Q2 were 4% in Ostomy Care, 0% in Continence Care, 3% in Interventional Urology, and 1% in Wound & Skin Care. Wound Care in isolation delivered 9% organic growth driven by Europe and China. The recently launched Biatain® Fiber portfolio continued to contribute to growth, especially in Germany and France.

Looking at organic growth rates by geography in Q2, the European markets reported -2% growth, Other developed markets contributed with 5% growth, while Emerging markets grew 14%.

 

GPO contract win in the US

In March 2021, Coloplast was awarded a contract for ostomy products with Vizient Inc., the largest healthcare performance improvement company in the US. The contract is effective as of July 1, 2021 and building on the company’s Premier GPO contract win in 2020, Coloplast will now invest in a sales force expansion to support the increased access to hospitals across the US.

 

Key breakthrough in Coloplast’s Sustainability strategy

In Hungary, Coloplast has found a way to recycle the company’s production waste into materials used to build playgrounds and sports fields. Consequently, the company now recycles 58% of its production waste, exceeding the 2025 ambition of 50%. A new ambition will be set and announced in connection with the company’s full-year results.

 

Coloplast continues to invest in innovation and growth

Coloplast continues to move forward with its new corporate strategy “Strive25 – Sustainable Growth Leadership” and the company plans to annually invest up to 2% of revenue in incremental innovation and commercial initiatives to drive growth. So far this financial year, the company has invested in innovation, sales and marketing activities in Asia, consumer and digital initiatives and Interventional Urology.

 

2020/21 organic growth guidance unchanged, EBIT margin guidance raised
Coloplast continues to expect organic revenue growth of 7-8% at constant exchange rates. Reported growth in DKK is still expected to be 4-5%.

The EBIT margin guidance before special items is raised from 31-32% to 32-33% due to efficiency gains and lower costs as a result of COVID-19. After special items, the reported EBIT margin is expected to be 31-32%. This is due to DKK 200m provision costs related to the existing lawsuits in the US alleging injury resulting from the use of transvaginal surgical mesh products. The increased provision is driven by further legal advisory costs as the process is taking longer than anticipated. The company has now settled around 97% of all known cases.

Capital expenditure is still expected to be around DKK 1.1 billion. The effective tax rate is still expected to be around 23%.

The company will pay a half-year interim dividend of DKK 5.00 per share for a dividend

pay-out of DKK 1,065m.

 

CONTACTS

Peter Mønster
Senior Media Relations Manager, Corporate Communications
+45 49 11 26 23
dkpete@coloplast.com

 

Ellen Bjurgert
Vice President, Investor Relations
+45 49 11 33 76
dkebj@coloplast.com

 

 

Financial highlights and key ratios

 

 DKKm 

2020/21 – Q2 

2019/20 – Q2  

Change 

Revenue

4,753

4,823

-1%

EBIT before special items

1,577

1,542

2%

EBIT margin before special items

33%

32%

1%-pts

EBIT margin after special items

29%

32%

-3%-pts

Special items*

-200

0

nm

Net profit

1,130

1,067

6%

*DKK 200m as further provision to cover potential settlements and costs related to the existing lawsuits in the US alleging injury resulting from the use of transvaginal surgical mesh products. 

 

 

Sales performance by business area 

 

DKKm 

2020/21 – Q2 

2019/20 – Q2 

Organic growth 

Reported growth 

Ostomy Care

1,936

1,920

4%

1%

Continence Care

1,719

1,776

0%

-3%

Interventional Urology

495

507

3%

-2%

Wound & Skin Care

603

620

1%

-3%

Net revenue 

4,753

4,823 

2% 

-1% 

 


Sales performance by region

 

DKKm

2020/21 – Q2

2019/20 – Q2

Organic growth

Reported growth

European markets

2,768

2,847

-2%

-3%

Other developed markets

1,143

1,172

5%

-2%

Emerging markets

842

804

14%

5%

Net revenue

4,753

4,823

2%

-1%

 

 

Financial highlights for the first 6 months of 2020/2021

 

DKKm

2020/21 – 6mths

2019/20 – 6mths

Organic growth

Revenue

9,491

9,535

4%

EBIT before special items

3,113

3,014

3%

EBIT margin before special items

33%

32%

1%-pts

EBIT margin after special items

31%

32%

-1%-pts

Special items*

-200

0

nm

Net profit  

2,266 

2,159 

5% 

 

 

 Financial guidance for 2020/21

Financial guidance  

 

Guidance for 2020/21 

Guidance for 2020/21 (DKK) 

Sales growth 

7-8% (organic)

4-5%

EBIT margin before special items 

-

32-33% from previously 31-32%

EBIT margin after special items

-

31-32%

Capital expenditure

-

~1.1 billion

Tax rate

-

~23%



  • News
  • Press release
29 Mar 2021

Coloplast awarded Ostomy Products contract with Vizient

Coloplast, a global medical device company and market leader in intimate healthcare, has been awarded a contract for ostomy products with Vizient, Inc., the largest healthcare performance improvement company in the US.

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“I am excited about the agreement with Vizient and the potential it holds for our company, for Vizient members and for the many people living with an ostomy in the US. This agreement will strengthen our presence across hospitals and other healthcare organizations and enable us to provide our products and services to more and more users in the US,” says President & CEO of Coloplast, Kristian Villumsen.

The new agreement allows Vizient members access with contracted pricing to Coloplast’s full portfolio of ostomy products, including ostomy pouches and supporting products.

“We are delighted that Vizient has added us to their Ostomy Products portfolio. Vizient helps their members deliver high-value care to improve patient outcomes, and as a global market leader in intimate healthcare, we look forward to supporting that mission,” says Senior Vice President Manu Varma, Chronic Care North America, Coloplast.

The agreement is effective beginning July 1, 2021. As part of the contract, SenSura® Mio Baby & Kids, products developed by Coloplast for neonates, children and teenagers, will be included in Vizient’s Preferred Pediatric Program.

Vizient serves more than half of the healthcare organizations across the country – from large integrated delivery networks and academic medical centers to community hospitals, children’s hospitals and non-acute care providers.


About Coloplast ostomy products

Coloplast’s range of innovative ostomy products is designed to reduce leakage and maintain healthy skin. With the SenSura® Mio portfolio and BodyFit Technology, Coloplast has taken fit, flexibility, and comfort to a new level, creating a portfolio of innovative ostomy solutions that reduce the burden of leakage and enable users to live the life they want to lead.

In addition to product solutions, Coloplast has developed Coloplast® Care, the only manufacturer-provided patient support program with better patient outcomes supported by peer-reviewed data. Coloplast Care provides ostomy users access to product and lifestyle education and tools for self-assessment and individualized support from Care Advisors. Coloplast Care provides reliable information so ostomy users can better manage their care and experience a full life.


About Coloplast

Danish medical device company, Coloplast, develops products and services designed to make life easier for people with intimate health conditions. Coloplast listens to end-users to better understand their needs and responds by bringing the best ideas to market in the form of medical devices and service solutions.

Learn more about Vizient Inc: http://www.vizientinc.com/

 

CONTACTS

Dennis Kaysen,
Senior Director, Corporate Communications
+45 49 11 26 08
dkdk@coloplast.com

Ellen Bjurgert
Vice President, Investor Relations
+45 49 11 33 76
dkebj@coloplast.com

 

 

  • News
  • Press release
2 Feb 2021

Coloplast delivers a good start to the year with 5% organic growth in Q1 and maintains its financial guidance for 2020/21

Coloplast delivered 5% organic growth, and EBIT increased by 4% to DKK 1,536m, corresponding to an EBIT margin of 32%, in the first quarter of the 2020/21 financial year. The company maintains its financial guidance for 2020/21.

Read news story

Coloplast delivered 5% organic revenue growth in the first three months of the 2020/21 financial year. EBIT amounted to DKK 1,536m, a 4% increase, corresponding to an EBIT-margin of 32% against 31% last year.

“Our priorities have been clear throughout the pandemic. We want to keep our employees safe, while continuing to serve our customers, who rely on our products and services to manage their conditions. I am proud of the work that is being done by our many teams across the world to make sure that we continue business operations and continue to support our customers,” says Coloplast CEO Kristian Villumsen and continues:

“Despite the COVID-19 outbreak, we deliver a solid set of results in Q1. We continue to deliver organic growth across all geographical regions and business areas, which means that more and more people with personal medical conditions are getting the help and support they need to lead better lives.”

“I would like to highlight our solid performance in the US as well as our strong momentum in Emerging Markets, particularly driven by growth in China, Latin America and tender deliveries in Russia. Also, our Interventional Urology business delivered a good quarter driven by the Men’s Health portfolio in the US, which returned to growth as elective procedures continued to recover during the quarter.”

Organic growth rates by business area were 6% in Ostomy Care, 6% in Continence Care, 5% in Interventional Urology, and 1% in Wound & Skin Care. Wound Care in isolation delivered 5% organic growth driven by Europe and a return to growth in China. The recently launched Biatain® Fiber portfolio contributed positively to growth, driven by France and Germany.

Looking at sales by geography, the European markets contributed with 2% growth, Other developed markets delivered 7% revenue growth, while Emerging Markets provided a 16% increase. Growth in Europe continues to be negatively impacted by the COVID-19 outbreak due to lower growth in new patients, particularly in the UK Chronic Care business.

While Coloplast delivered 5% organic growth, reported growth in Danish kroner was up by 1% to DKK 4,738m. Reported revenue was, as expected, adversely affected by the depreciation of USD, GBP, and several emerging markets currencies, especially ARS and BRL.

ROIC after tax and before special items was 44% against 47% in the same period last year impacted by the acquisition of Nine Continents Medical in November 2020.
 


The COVID-19 pandemic

Coloplast continues to monitor developments closely across all markets and continues to take all necessary precautionary measures to comply with and support local, national, and global guidelines from healthcare authorities.

The company’s global manufacturing sites are operating at normal capacity in terms of production and supply chain, and the company continues to fully meet customer demand.

Coloplast continues to invest in innovation and growth

Coloplast continues to move forward with its new corporate strategy “Strive25 – Sustainable Growth Leadership” and yearly invest up to 2% of revenue in innovation and commercial initiatives to drive growth. So far this financial year, the company has invested in sales and marketing activities in Asia, consumer and digital initiatives, innovation, and Interventional Urology.

Financial guidance for 2020/21

In line with its long-term guidance Coloplast continues to guide for 7-8% organic revenue growth and a reported growth in DKK of 4-5%.

Coloplast continues to expect a reported EBIT margin in DKK of 31-32%. The guidance reflects additional incremental investments and continued prudent cost management.

Capital expenditure is still expected to be DKK ~1.1bn. The effective tax rate is still expected to be ~23%.

 

CONTACTS

Peter Mønster

Senior Media Relations Manager, Corporate Communications

+45 49 11 26 23

dkpete@coloplast.com

 

Ellen Bjurgert

Vice President, Investor Relations

+45 49 11 33 76

dkebj@coloplast.com

 

Financial highlights and key ratios

 DKKm 

2020/21 – Q1  

2019/20 – Q1  

Change 

Revenue

4,738

4,712

5%

EBIT

1,536

1,472

4%

EBIT margin

32%

31%

1%-pts

Net profit for the period

1,136

1,092

4%

 

Sales performance by business area

DKKm 

2020/21 - Q1 

2019/20 - Q1 

Organic growth 

Reported growth 

Ostomy Care

1,932

1,907

6%

1%

Continence Care

1,705

1,686

6%

1%

Interventional Urology

536

535

5%

0%

Wound & Skin Care

565

584

1%

-3%

Net revenue 

4,738

4,712 

5% 

1% 

 


Sales performance by region

DKKm

2021/21 – Q1

2019/20 – Q1

Organic growth

Reported growth

European markets

2,737

2,744

2%

0%

Other developed markets

1,174

1,178

7%

0%

Emerging Markets

827

790

16%

5%

Net revenue

4,738

4,712

5%

1%

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