Coloplast A/S - Annual Report 2023/24 & Remuneration Report 2023/24

Coloplast A/S - Annual Report 2023/24 & Remuneration Report 2023/24

FY 2023/24 organic growth of 8% and 27% EBIT margin¹. Reported revenue in DKK grew 10% to DKK 27,030 million.

• Organic growth rates by business area: Ostomy Care 7%, Continence Care 8%, Voice and Respiratory Care 11%, Advanced Wound Care 10% (Advanced Wound Dressings 8%) and Interventional Urology 5%. Kerecis contributed 4%-points to reported growth, with an underlying growth of around 35%, in line with expectations.
• EBIT¹ was DKK 7,286 million, a 6% increase from last year. The EBIT margin^1,2 was 27% against 28% last year, mostly impacted by the dilution from Kerecis of around 100 basis points, as expected, and negative impact from currencies.
• ROIC after tax before special items was 15% against 17% last year, negatively impacted by the acquisition of Kerecis. Diluted earnings per share (EPS)¹ decreased by 1% to DKK 22.34, impacted by the equity raise in August 2023.
• Free cash flow was an inflow of DKK 1.4 billion and includes impact from the extraordinary tax payment related to Atos Medical's IP transfer in Q2. Adjusted for the tax payment, the free cash flow was an inflow of DKK 3.9 billion.
• The Board of Directors recommends a year-end dividend of DKK 17.00 per share, which brings the total dividend for the year to DKK 22.00 per share, compared to DKK 21.00 per share last year.

Sustainability highlights

• Production waste recycling increased to 77% in FY 2023/24, above the 2025 ambition of 75%, driven by Coloplast's recycling partnership in Hungary and progress on recycling efforts at Coloplast's sites in Costa Rica.
• Scope 1 and 2 emissions decreased by 27% in FY 2023/24 vs. base year 2018/19, driven by energy efficiency improvements, continued phase-out of natural gas and continued transitioning of Coloplast's company car fleet to electric vehicles.
• Positive development in the lost time injury frequency which reached 2.1 ppm in FY 2023/24, compared to 2.6 ppm in FY 2022/23.

FY 2024/25 guidance of 8-9% organic growth and an EBIT margin before special items of around 28%.

• Organic growth assumes continued good momentum and around 1%-point contribution from Kerecis. Reported growth in DKK is expected to be 8-9% with neutral impact from currencies.
• The reported EBIT margin³ assumes benefit from lower inflationary pressure on input costs, margin improvement initiatives in Advanced Wound Care (ex. Kerecis), around 100 basis points dilution from Kerecis and neutral impact from currencies.
• Capital expenditures are expected to be around DKK 1.4 billion. The effective tax rate is expected around 22%.

1. before special items income of DKK 34 million in FY 2023/24. 2. before special items expenses of DKK 74 million in FY 2022/23. 3. FY 2024/25 special items expected to be an expense of around DKK 130 million.

Please find our Annual Report 2023/24 and Remunation Report 2023/24 in the links below.

For further information, please contact

Investors and analysts
Anders Lonning-Skovgaard
Executive Vice President, CFO
Tel. [phone]

Aleksandra Dimovska
Vice President, Investor Relations
Tel. [phone]
Email: [e-mail]

Kristine Husted Munk
Senior Manager, Investor Relations
Tel. [phone]
Email: [e-mail]

Press and media
Peter Mønster
Sr. Media Relations Manager
Tel. [phone]
Email: [e-mail]

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 English version shall prevail.

Coloplast was founded on passion, ambition, and commitment. We were born from a nurse's wish to help her sister and the skills of an engineer. Guided by empathy, our mission is to make life easier for people with intimate healthcare needs. Over decades, we have helped millions of people to live a more independent life and we continue to do so through innovative products and services. Globally, our business areas include Ostomy Care, Continence Care, Advanced Wound and Skin Care, Interventional Urology and Voice and Respiratory Care.

The Coloplast logo is a registered trademark of Coloplast A/S. © 2024-11.

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