Coloplast expects higher profitability

Coloplast’s interim financial statements for the first three quarters of the fiscal year 2008/09 remain in line with the positive profit trend of the 1st half year.

Operating profit (EBIT) was DKK 989 million, an increase of 11% compared with last year.

”I’m pleased that we’ve improved our profitability since last year, but then again it’s necessary in order to compete internationally,” says CEO Lars Rasmussen. “The improvement in profitability is largely a result of increased cost-consciousness among managers and employees at all levels of the organization.”

Sales increased by more than 5% over last year, reaching DKK 6,558 million for the first nine months of this fiscal year.

”Coloplast’s growth is as expected, considering that we are finalizing a major restructuring in Germany and in our Wound & Skin Care business,” says Lars Rasmussen. “But in the long term, we want higher growth.”

Based on the Q3 results, Coloplast revises the company’s guidance for 2008/09. The company now expects a profit margin of 15-16% in DKK, compared with earlier expectations of 15%. Coloplast still expects organic revenue growth of 6%.