Q4 2024 Coloplast A/S Earnings Call Transcript
Key Points
- Coloplast AS (CLPBF) achieved 8% organic growth for the '23-'24 financial year, reflecting strong market share gains.
- The company reported a robust EBIT margin before special items of 27% for the year, despite challenges.
- Kerecis, a recent acquisition, delivered impressive growth of around 35%, aligning with strategic plans.
- Significant product launches, including the Luja catheter and expansions in the SenSura Mio portfolio, are expected to drive future growth.
- Coloplast AS (CLPBF) made progress in sustainability, with 77% of production waste recycled and a 27% reduction in Scope 1 and 2 emissions since the base year '18-'19.
- The establishment of a new US distribution center led to supply disruptions and extraordinary costs, impacting financial performance.
- Interventional urology business growth was below expectations due to competitive pressures.
- The EBIT margin in Q4 was negatively impacted by extraordinary costs and currency fluctuations.
- The integration of Atos Medical and other acquisitions is taking longer than anticipated, with ongoing integration costs.
- The company faces uncertainty regarding the final LCD policy for Kerecis, which could impact future growth projections.
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Thank you very much, operator. Good morning, and welcome to our full year '23, '24 conference call. I am Kristian Villumsen, the CEO of Coloplast, and I'm joined by our CFO, Anders Lonning-Skovgaard, and our Investor Relations team. We'll start with a short presentation by Anders and myself and then open up for questions as we usually do.
Please turn to slide number 3. We delivered 8% organic growth and a reported EBIT margin before special items of 27% for the '23, '24 financial year. Return on invested capital after tax and before special items was 15%, reflecting impact from the acquisition of Kerecis. This year, we continue to help millions of people within healthcare needs, and we also welcome more than 270,000 new users to our support program, Coloplast care.
In our fourth quarter, we delivered organic growth of 8% and a reported EBIT margin before special items of 26%. Anders will take you through the details later, but the EBIT
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