Organic growth in Q3 was 11% and reported revenue in DKK was up by 9% to DKK 4,835 million. EBIT amounted to DKK 1,592 million, a 16% increase from last year, corresponding to an EBIT margin of 33%, which reflects efficiency gains and lower costs due to COVID-19, partly offset by continued investments.
Year to date organic growth was 6% and reported revenue in DKK increased by 3% to DKK 14,326 million. EBIT before special items was DKK 4,705 million in the first nine months of the financial year, corresponding to an EBIT margin before special items of 33% against 31% last year. ROIC after tax before special items was 43% and diluted earnings per share (EPS) before special items increased by 17% to DKK 17.24.
Organic growth rates by business area in Q3 were 4% in Ostomy Care, 5% in Continence Care, 82% in Interventional Urology, and 17% in Wound & Skin Care. Looking at organic growth rates by geography in Q3, the European markets reported 10% growth, Other developed markets contributed with 17% growth, while Emerging markets grew 8%.
Country-by-country tax reporting
Coloplast continues to demonstrate a strong commitment to sustainability initiatives and company ethics, including improved ESG reporting. Consequently, the Board of Directors has decided that Coloplast will publish country-by-country tax reporting together with the Annual Report 2020/21 on 1 November 2021.
Climate-related criteria in renumeration
Coloplast’s Board of Directors is currently discussing Executive Leadership remuneration and upon approval at this year’s Annual General Meeting climate-related criteria will be incorporated into the short-term incentive plan for 2021/22.
2020/21 financial guidance narrowed
Coloplast now expects organic revenue growth in the lower end of the 7-8% range at constant exchange rates. Reported growth in DKK is still expected to be 4-5%.
The EBIT margin guidance before special items is now expected to be in the upper end of the 32-33% range. After special items, the reported EBIT margin is now expected to be in the upper end of the 31-32% range.
Capital expenditure is still expected to be around DKK 1.1 billion. The effective tax rate is still expected to be around 23%.
CONTACTS
Peter Mønster
Senior Media Relations Manager, Corporate Communications
+45 49 11 26 23
dkpete@coloplast.com
Ellen Bjurgert
Vice President, Investor Relations
+45 49 11 33 76
dkebj@coloplast.com
Financial highlights and key ratios
DKKm | 2020/21 – Q3 | 2019/20 – Q3 | Change |
Revenue | 4,835 | 4,419 | 9% |
EBIT | 1,592 | 1,368 | 16% |
EBIT margin | 33% | 31% | 2%-pts |
Net profit | 1,254 | 997 | 26% |
Sales performance by business area
DKKm | 2020/21 – Q3 | 2019/20 – Q3 | Organic growth | Reported growth |
Ostomy Care | 1,915 | 1,870 | 4% | 2% |
Continence Care | 1,744 | 1,680 | 5% | 4% |
Interventional Urology | 542 | 313 | 82% | 73% |
Wound & Skin Care | 634 | 556 | 17% | 14% |
Net revenue | 4,835 | 4,419 | 11% | 9% |
Sales performance by region
DKKm | 2020/21 – Q3 | 2019/20 – Q3 | Organic growth | Reported growth |
European markets | 2,844 | 2,577 | 10% | 10% |
Other developed markets | 1,183 | 1,083 | 17% | 9% |
Emerging markets | 808 | 759 | 8% | 6% |
Net revenue | 4,835 | 4,419 | 11% | 9% |
Financial highlights for the first 9 months of 2020/2021
DKKm | 2020/21 – 9mths | 2019/20 – 9mths | Change |
Revenue | 14,326 | 13,954 | 3% |
EBIT before special items | 4,705 | 4,382 | 7% |
EBIT margin before special items | 33% | 31% | 2%-pts |
EBIT margin after special items | 31% | 31% | – |
Special items* | -200 | 0 | nm |
Net profit | 3,520 | 3,156 | 12% |
*DKK 200m as further provision to cover potential settlements and costs related to the existing lawsuits in the US alleging injury resulting from the use of transvaginal surgical mesh products.
Financial guidance for 2020/21
Financial guidance
|
Guidance for 2020/21 | Guidance for 2020/21 (DKK) |
Sales growth | 7-8% (organic) (lower end) | 4-5% |
EBIT margin before special items | – | 32-33% (upper end) |
EBIT margin after special items | – | 31-32% (upper end) |
Capital expenditure | – | ~1.1 billion |
Tax rate | – | ~23% |
Attachment
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