Coloplast presents another strong full year result

Revenue increased by 7% to DKK 10,172m, and the EBIT margin was 25% compared to 21% in the same period last year. Thereby, Coloplast presented a satisfying full-year result for the financial year 2010/2011.

Read the announcement: English Danish

“I’m very pleased with the full-year result,” says CEO Lars Rasmussen.

“We continued to grow more than the market and we have increased our EBIT margin from 21% to 25%. I’m very happy that we can, once again, present strong business results that meet our own expectations.”

The full-year result increased by 46% to DKK 1,819m, and earnings per share (EPS) also increased by 46% to DKK 42.6 compared to the same period last year.

Looking at the individual business areas, growth was 8% in Ostomy Care, 8% in Continence Care and 9% in Urology Care, whereas growth in Wound & Skin Care products was negative by 1% compared to last year.

“I’m particularly pleased with the continued very positive growth in our chronic care business areas Ostomy- and Continence Care, where especially emerging markets and the UK contributed to the positive development,” Lars Rasmussen says.

“Sales in the smaller business Wound Care still wasn’t satisfactory and is still characterised by price pressure and fierce competition in the European markets.”

As a result of Coloplast’s strong liquidity, the Board of Directors has decided to initiate another share buy-back programme for a total amount of up to DDK 1bn, running until the end of the financial year 2012/13. The share buy-back programme for the financial year 2010/11 is completed.

The Board of Directors will furthermore recommend that the shareholders attending the annual general meeting 7 December 2011 approve a dividend of DKK 14,00 per share. That is an increase of 40% compared to the financial year 2009/10.

Financial expectations for 2011/12
Organic revenue growth for 2011/12 is expected to remain unchanged at around 6%. Growth in DKK is also expected to remain at around 6%. The EBIT margin is expected to be around 27% both at constant exchange rates and in DKK.