Coloplast raises earnings expectations and increases focus on growth

Revenue was up 8% to DKK 8,174m in the first three quarters of the financial year 2011/2012 and the EBIT margin was 29% against 24% during the same period of last year.

Read the announcement: English Danish

Organic growth by business area was 6% in Ostomy Care, 9% in Continence Care and 5% in Urology Care while growth in Wound and Skin Care was negative 2% against same period of last year.

”I’m very pleased with the way the company develops. We have delivered a solid result which means we’re able to raise our earnings expectations for this financial year once again," says CEO Lars Rasmussen.

 

Raising full year earnings expectations

In the financial year 2011/12 Coloplast continue to expect organic revenue growth of about 6% and of about 8% in DKK. The EBIT margin is raised from about 28% to about 29% at constant exchange rates and from about 29% to around 30% in DKK.

 

Investing in growth

In the third quarter Coloplast launched an updated strategy for the next 3-5 years which aims to accelerate growth.

”We believe we’re able to grow more. Right now we are working to identify and asses our long-term investments in growth.”

“The future investments should maintain and strengthen our position as market leader in Europe, strengthening growth in the developed markets outside Europe (U.S., Canada, Japan and Australia) as well as providing greater expansion into new markets, including China.”

 

Coloplast – the most customer oriented company

Furthermore, in the third quarter Coloplast was ranked by patient groups world wide as the most customer oriented medical device company globally.*

”Many of our customers live with chronic diseases that are still considered taboo. We strive to help people get on with their lives by delivering high quality services and products that are safe, easy to use and don’t look like medical equipment. This survey tells me that our customers appreciate what we do and that really creates a strong foundation for the future.”

* Corporate reputation of the medical device industry – from the patients’ perspective, Patient view, April 2012. Based on 300 patient groups from 42 countries. Coloplast no. 1 in all six categories. Read more at http://patientview.posterous.com/