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Coloplast A/S - Announcement no. 06/2021 - Full-year Financial Results 2020/21

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Announcement of Full-year Financial Results 2020/21
(1 October 2020 - 30 September 2021)

Coloplast delivers solid Q4 organic growth of 10% and 32% EBIT margin

  • Coloplast delivered 10% organic growth in Q4. Reported revenue in DKK was up by 11%. Organic growth rates by business area in Q4: Ostomy Care 10%, Continence Care 8%, Interventional Urology 10% and Wound & Skin Care 15%.

  • The Chronic Care business was positively impacted by a continued improvement in underlying growth in Europe, as well as a lower baseline. The US also contributed to growth, driven by an increase in growth in new patients. Emerging markets delivered a solid quarter lifted by tender phasing in the Middle East and Russia from Q3 to Q4.

  • Within Ostomy Care, growth in new patients remains largely normalized at pre-COVID levels. Within Continence Care, the trend during Q4 was positive across markets, including the US. In Europe, growth in new patients in Continence Care approached pre-COVID levels during the quarter.

  • The Interventional Urology business delivered another strong quarter. Growth was broad-based and led by the US and Men’s Health, as well as a lower baseline.

  • The Wound and Skin Care business delivered a solid quarter, lifted by double-digit growth in Contract Manufacturing, impacted by a low baseline. Wound Care alone delivered 12% organic growth, driven by China, Europe and tender phasing in the Middle East.

  • EBIT was DKK 1,650 million, a DKK 178 million (12%) increase from last year, corresponding to an EBIT margin of 32% which reflects efficiency gains, partly offset by commercial investments and a normalization of commercial activities.

FY 2020/21 organic growth of 7% and 33% EBIT margin, in line with guidance

  • Coloplast delivered 7% organic growth for the full year. Reported revenue in DKK was up by 5% to DKK 19,426 million. Organic growth rates by business area: Ostomy Care 6%, Continence Care 5%, Interventional Urology 19%, Wound & Skin Care 8%.

  • EBIT before special items amounted to DKK 6,355 million, a 9% increase from last year, corresponding to an EBIT margin before special items of 33% against 32% last year, reflecting efficiency gains and lower spending due to COVID-19 offset by commercial investments.

  • ROIC after tax before special items was 45% against 46% last year, negatively impacted by the acquisition of Nine Continents Medical. Diluted earnings per share (EPS) before special items increased by 19% to DKK 23.36.

  • The Board of Directors recommends a year-end dividend of DKK 14.00 per share, which brings the total dividend for the year to DKK 19.00 per share, compared to DKK 18.00 per share last year.

2021/22 financial guidance – organic revenue growth of around 7% and EBIT margin of around 32%

  • Organic revenue growth expected around 7% at constant exchange rates. Reported growth in DKK expected around 8%.

  • Reported EBIT margin is expected to be around 32%, impacted by normalization of business activities, raw material price pressure and wage inflation in Hungary and continued commercial investments.

  • Capital expenditures expected to be around DKK 1.2 billion. The effective tax rate is expected to be 22-23% positively impacted by increased R&D cost deductibility which continues in 21/22.

Conference call
Coloplast will host a conference call on Monday, 1 November 2021 at 15.00 CET. The call is expected to last about one hour.
To actively participate in the Q&A session please call +45 3544 5577, +44 3333 000 804 or +1 631 913 1422. The participant PIN code is 83943702#.

Access the conference call webcast directly here:
https://getvisualtv.net/stream/?coloplast-xa4jg8pr5z




For further information, please contact


Investors and analysts
Anders Lonning-Skovgaard
Executive Vice President, CFO
Tel. +45 4911 1111

Ellen Bjurgert
Vice President, Investor Relations
Tel. +45 4911 1800 /+45 4911 3376
Email: dkebj@coloplast.com

Aleksandra Dimovska
Sr. Manager, Investor Relations
Tel. +45 4911 1800 / +45 4911 2458
Email: dkadim@coloplast.com

Press and the media
Peter Mønster
Sr. Media Relations Manager
Tel. +45 4911 2623
Email: dkpete@coloplast.com

Address
Coloplast A/S
Holtedam 1
DK-3050 Humlebaek
Denmark
Company reg. (CVR) no. 69749917

Website
www.coloplast.com

This announcement is available in a Danish and an English-language version. In the event of discrepancies, the Danish version shall prevail.

Coloplast develops products and services that make life easier for people with very personal and private medical conditions. Working closely with the people who use our products, we create solutions that are sensitive to their special needs. We call this intimate health care. Our business includes Ostomy Care, Continence Care, Wound and Skin Care and Interventional Urology. We operate globally and employ about 12,500 employees.

The Coloplast logo is a registered trademark of Coloplast A/S. © 2021-11.

All rights reserved Coloplast A/S, 3050 Humlebaek, Denmark.

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