293 0 Kommentare Coloplast Finance B.V. - Interim Financial Report, H1 2023/24

H1 2023/24
Interim financial results, H1 2023/24
1 October 2023 - 31 March 2024

Coloplast delivered a solid Q2 with 8% organic growth and an EBIT margin¹⁾ of 27%. Reported revenue in DKK grew 9% with 4%-points contribution from Kerecis (underlying growth of around 35%), partly offset by currencies.

Organic growth rates by business area: Ostomy Care 7%, Continence Care 8%, Voice and Respiratory Care 13%, Advanced Wound Care 8% (Advanced Wound Dressings 8%) and Interventional Urology 5%.
Continued good momentum in Chronic Care. Ostomy Care growth was driven by broad-based contribution from Emerging markets and Europe, compensating for lower growth in the US which was held back by order phasing and now expected to be H2 weighted. Continence Care growth was driven by intermittent catheters, including good contribution from Luja^TM.
Voice and Respiratory Care had a strong Q2, driven by double-digit growth in both laryngectomy and tracheostomy.
Growth in Advanced Wound Dressings was broad-based across regions, driven by the Biatain Silicone portfolio.
Continued strong momentum and market share gains for Kerecis. Underlying growth in the quarter was around 35%, in line with plan. The EBIT margin excl. PPA amortisation was around 10%.
Interventional Urology growth was driven by Men’s Health and Endourology, while Women’s Health detracted from growth.
EBIT¹ was DKK 1,791 million, a 7% increase from last year. The EBIT margin^1,2 was 27% against 28% last year, and includes around 100 basis points negative impact from Kerecis, as expected, and negative impact from currencies.
Coloplast is expanding its Luja portfolio with the launch of Luja for women* as of May 2024. Heylo*, a digital leakage notification system, has been granted national reimbursement in the UK as of 1 July 2024. Coloplast is also significantly expanding its SenSura Mio ostomy range with SenSura Mio in black* and a broader convexity offering*, as of May 2024.
LCD** draft policy for skin substitutes announced on 25 April, related to ~20% of Kerecis revenue. Kerecis is considered to not meet a clinical qualification introduced in the draft policy and is therefore not included on the covered list. A 2023 clinical study by Lantis et al. providing relevant, high-quality evidence of the efficacy and performance of Kerecis’ fish skin will be submitted in the consultation period, ending on 8 June. The financial assumptions on Kerecis are unchanged.