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  • Press release
3 May 2018

Coloplast delivers 8% organic revenue growth and upgrades full-year growth expectations

Coloplast delivered 8% organic revenue growth and a 31% EBIT margin at constant exchange rates in the first six months of its 2017/18 financial year. For the full year 2017/18, the company now guides 7-8% organic revenue growth from previously ~7%, and reported growth in DKK of ~6% from previously 5-6%.

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Coloplast delivered 8% organic revenue growth in the second quarter of its financial year, while reported revenue in DKK was up by 4% to DKK 4,035m. The H1 organic revenue growth was also 8%, while reported revenue in DKK was up by 5% to DKK 7,990m. Reported revenue was adversely affected by the depreciation of USD and dollar-related currencies against DKK.

 

EBIT amounted to DKK 2,407m for a 3% decline in DKK but a 4% increase at constant exchange rates. The EBIT margin at constant exchange rates was 31% against 32% in the same period last year. In DKK, the EBIT margin was 30%, against 32% last year. The EBIT result is in line with the company’s expectations.

 

“We deliver a strong half-year result with solid growth across our Chronic Care business and an increased momentum in our Emerging Markets. At the same time, the SpeediCath® patent expiry has had a smaller impact than initially anticipated. This allows us to upgrade our full-year growth expectations, which I’m obviously very pleased with,” said CEO Lars Rasmussen.

 

Organic growth rates by business area: Ostomy Care 10%, Continence Care 9%, Urology Care 10%, and Wound & Skin Care negative 1%. The Wound Care business accelerated its momentum, delivering 8% organic growth in the second quarter despite the continued negative effects of a comprehensive pricing reform in Greece.

 

"We’re expanding our Ostomy Care product portfolio by introducing SenSura® Mio Concave, designed specifically for the outward body profile and customised to help stoma patients avoid leakage. It will be part of the same portfolio as SenSura® Mio Convex, the company’s most successful launch to date. As a result, we have very high expectations for the new product category, SenSura® Mio Concave, which is now available and eligible for reimbursement in seven countries,” said Mr Rasmussen.

 

Looking at sales by geographies, the European markets contributed with 4% growth in H1, Other developed markets delivered 13% revenue growth, while Emerging Markets provided a16% increase.

 

Tailwind and growth ambitions in the US

As part of the plan to accelerate organic growth in the US market, Coloplast has appointed Manu Varma as Senior Vice President of Chronic Care North America. Former Senior Vice President Ed Veome will take on a new role as Vice President of Sales of Chronic Care North America.

 

"The US market holds great potential, and our ambition is to continue to take market share. To that end, we are investing to accelerate growth, which includes investing in and expanding our North American leadership team,” said Mr Rasmussen.

 

Coloplast is also expanding its Continence Care and Wound Care product portfolios in the US market by launching the SpeediCath® Flex Coudé Pro, specifically designed for the US market, and the entire Biatain® Silicone portfolio.

 

In addition, Coloplast has been chosen as the primary ostomy care vendor at Cleveland Clinic, one of the leading hospital chains in the USA. Coloplast will be the new main supplier of ostomy care products to all Cleveland Clinic hospitals.

 

Financial guidance 2017/18

Coloplast now guides 7-8% organic revenue growth, up from previously ~7%, at constant exchange rates. The change is primarily due to expectations that the patent expiry of SpeediCath® standard catheters will have a negative effect of DKK 50m instead of the previous estimate of DKK 100m and due to increased momentum in the Emerging Markets region. The guidance continues to include the effects of a comprehensive healthcare reform in Greece of DKK 100m, which is expected to impact all business areas.

 

Reported growth in DKK is expected to be ~6%, up from previously 5-6%, mainly due to developments in the USD/DKK exchange rate. The change is due to the upgraded guidance for organic revenue growth. Coloplast continues to expect an EBIT margin of 31%-32% at constant exchange rates and a reported EBIT margin of ~31% in DKK.

 

 

 

Contact  
Lina Danstrup

Senior Media Relations Manager, Corporate Communications

+45 49 11 26 07

dklina@coloplast.com  

 

Ellen Bjurgert

Director, Investor Relations

+45 49 11 33 76

dkebj@coloplast.com  

  • Press release
4 Apr 2018

Coloplast expands its product portfolio with new innovative ostomy category

Coloplast presents a new member of the SenSura® Mio family, SenSura® Mio Concave. The new SenSura® Mio category is designed specifically for the outward body profile, and it is the first of its kind.

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All bodies are different, and it is challenging to create products that will fit the individual user. That is why Coloplast is proud to present another customised SenSura® Mio ostomy product.


While SenSura® Mio and SenSura® Mio Convex are designed to fit to the individual shapes of people with regular and inward body profiles, SenSura® Mio Concave is for people with an outward body profile. Flat and convex appliances are common, but SenSura® Mio Concave is the first concave appliance designed specifically to fit curves, bulges, and hernias.

“With the addition of SenSura® Mio Concave to the SenSura® Mio product range, we now offer the right fit to all body profiles. It is difficult to make a great fit for people with outward body profiles, but the curved star shaped baseplate can do just that. We are confident that this will make a big difference to our users and give Coloplast a strong competitive edge,” says CEO Lars Rasmussen, Coloplast.

 

“As market leader, we are proud to offer superior products to help improve the quality of life for our users. Our ambition is to continue to gain market share, and to do that we need innovative products like SenSura® Mio Concave,” says Mr. Rasmussen.

 

Coloplast is the global market leader in ostomy care products, holding 35-40% of the market.

It is Coloplast’s estimation that up to a third of ostomates have outward body shapes and could benefit from this new baseplate.

SenSura® Mio Concave will be launched in Coloplast’s key markets throughout 2018 and 2019. SenSura® Mio Concave will be available in Japan, UK, Germany, Denmark, Italy, Netherlands, and Finland from April 2018.

 

 

Contact  
Lina Danstrup

Senior Media Relations Manager, Corporate Communications

+45 49 11 26 07

dklina@coloplast.com  

 

Ellen Bjurgert

Director, Investor Relations

+45 49 11 33 76

dkebj@coloplast.com  

  • Press release
7 Feb 2018

Coloplast acquires IncoCare Gunhild Vieler GmbH

Coloplast A/S acquires the German direct-to-consumer homecare company IncoCare Gunhild Vieler GmbH (IncoCare) to further strengthen its position in Germany. Together, Coloplast and IncoCare will bring innovative products and services to more users across Germany.

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IncoCare is a privately owned, German direct-to consumer homecare company with regional distribution of primarily continence supplies. IncoCare was founded in 1998 and provides patients with products from several different manufacturers including Coloplast. The company has around 20 employees.

IncoCare will become part of the German Coloplast organisation, which already includes one of the largest homecare companies in Germany – SIEWA Homecare. 

“The acquisition of IncoCare is part of our strategy of pursuing inorganic opportunities to accelerate growth and to strengthen our service offering. By acquiring IncoCare we strengthen our position in Southeast Germany and ensure that more users get access to our innovative products and services,” says Coloplast CEO Lars Rasmussen.

“IncoCare is a great strategic fit. IncoCare and Coloplast were founded on the same desire to help people with intimate healthcare needs, and I look forward to welcoming IncoCare to the Coloplast family,” says Mr. Rasmussen.

The acquisition is a continuation of Coloplast’s overall ambition to secure its end users access to innovative products and services. Furthermore, the acquisition strengthens Coloplast’s position and offering in Germany, where Coloplast expects to continue to work closely with healthcare professionals and channel partners with the intent of improving overall end user outcomes.

The transaction will not impact Coloplast’s financial guidance for 17/18. The purchase price is undisclosed.

For more information on IncoCare please refer to www.incocare.de 

 

CONTACTS
Lina Danstrup

Senior Media Relations Manager, Corporate Communications

+45 49 11 26 07

dklina@coloplast.com  

 

Ellen Bjurgert

Director, Investor Relations

+45 49 11 33 76

dkebj@coloplast.com  

  • Press release
1 Feb 2018

Coloplast delivers solid Q1 interim results and continues to take market share

Coloplast delivered 8% organic revenue growth and an EBIT margin of 31% at constant exchange rates in the first quarter of the 2017/18 financial year. The results were in line with the company’s guidance.

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Coloplast delivered 8% organic revenue growth in the first three months of the 2017/18 financial year, while reported growth in Danish kroner was up by 5% to DKK 3,955m. Reported revenue was adversely affected by the depreciation of USD and dollar-related currencies against DKK.

 

EBIT amounted to DKK 1,207m for a 2% decline in DKK but a 4% increase at constant exchange rates. The EBIT margin at constant exchange rates was 31% against 33% in the same period last year. In DKK, the EBIT margin was 31%, against 33% last year.

Organic growth rates by business area: Ostomy Care 9%, Continence Care 10%, Urology Care 11%, and Wound & Skin Care negative at 5%. Organic growth, particularly in the wound care business, was adversely affected by price reforms in Greece.

 

Looking at sales by geographies, the European markets contributed with 4% growth, Other developed markets delivered 18% revenue growth, while Emerging Markets provided a 10% increase.

 

“We’re delivering a solid result for the first quarter, and we are off to a good start to the financial year. We’re performing well in many of our major markets and are generally delivering strong results in Ostomy Care, Continence Care and Urology Care. As an example, we’re delivering double-digit growth, and we see continued increased momentum in the US market,” says Coloplast CEO Lars Rasmussen. 

 

Coloplast invests in growth
Coloplast invested in sales and marketing initiatives across multiple markets and business areas during the first quarter as part of its ambition to drive organic growth.

In addition, Coloplast is adding a new product to its ostomy care portfolio with the launch of SenSura® Mio Concave, the first ostomy care product designed specifically for people with hernias or curves. 

 

“We’re proud to be able to offer our users the best products in the market, and I’m confident that this new product will make a big difference to our users while giving Coloplast a strong competitive edge. Our ambition is to continue to win market share, and to do that we need innovative products like SenSura® Mio Concave,” says Mr Rasmussen.

 

In November 2017, Coloplast presented its new long-term financial guidance for the period to 2020. Consistent with its ambition of pursuing non-organic growth opportunities, Coloplast completed the acquisition of French direct-to-consumer home delivery company SAS Lilial in January 2018.

The transaction will strengthen Coloplast’s position and its product and service offering in France and will open for further access to payers.

 

Financial guidance for 2017/18
Coloplast continues to expect organic revenue growth of ~7% at constant exchange rates. Guidance for reported growth in DKK is lowered by 1pp to 5%–6% due to developments in the USD/DKK exchange rate. The guidance includes a negative effect of DKK 100m due to the patent expiry of SpeediCath® standard catheters and the effects of a comprehensive healthcare reform in Greece of DKK 100m.

 

Coloplast continues to expect an EBIT margin of 31%-32% at constant exchange rates and a reported EBIT margin of ~31% in DKK.

CONTACTS
Lina Danstrup

Senior Media Relations Manager, Corporate Communications

+45 49 11 26 07

dklina@coloplast.com

 

Ellen Bjurgert

Director, Investor Relations

+45 49 11 33 76

dkebj@coloplast.com

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