Coloplast Reports Strong Full Year Results and Expects Increased Growth and Earnings Next Year
HUMLEBAEK, Denmark, Nov. 6, 2012 (GLOBE NEWSWIRE) -- Today, Coloplast announced that revenue increased by 8% to DKK 11,023m in the financial year 2011/2012, and that the EBIT margin was 30% against 25% last year.
Earnings for 2011/2012 increased by 21% to DKK 2,194m and earnings per share (EPS) also increased by 21% to DKK 51.5 against the same period last year. The return on invested capital after taxes (ROIC) was 38% against 30% last year.
"I'm very satisfied with the full year results and the development of the company. We are the global market leader and continue to gain market shares. At the same time, we have improved our earnings significantly, which gives us a solid foundation for growing the company further," says CEO Lars Rasmussen.
Organic growth by business area was 6% in Ostomy Care, 8% in Continence Care, and 6% in Urology Care. Growth in Wound & Skin Care was negative by 1% against the same period last year.
"I'm particularly satisfied with the growth in our Ostomy and Continence Care businesses, where we've launched two new products during 2011/12. Both products have been well received by our customers, who think they are different and innovative and enable a more active life. I think that is fantastic to hear."
The launches in mention are the ostomy accessories line called Brava(tm) and the new compact catheter SpeediCath(r) Compact Set.
Expecting increased growth and earnings
For 2012/2013 Coloplast expects a revenue growth of 6-7% both organically and in DKK. An EBIT margin of 31-32% is expected in both fixed exchange rates and DKK.
"We continue to invest in growth and expect to increase our growth rates over the next 3-5 years relative to the market growth. In 2012/2013, we expect a continued stable growth in the European business as well as higher growth rates than in 2011/2012 both in emerging markets and mature markets outside of Europe," says Lars Rasmussen.
The Board of Directors maintains Coloplast's long term financial ambition of growing more than the market and delivering earnings in line with the best performing medical device companies. 
At the Annual General Meeting on 11 December 2012, the Board of Directors will propose a dividend of DKK 20 per share against DKK 14 last year, equaling a pay-out ratio of 38%. The board of directors will also propose splitting the share with the ration 1 to 5. This changes the nominal value from DKK 5 to 1.
Coloplast's annual report will be published later today. Find it here: http://www.coloplast.com/about/investorrelations/announcements/
Coloplast's Corporate Responsibility Report also comes out later today. Find it here: http://www.coloplast.com/about/responsibility/
 At present, Coloplast's peer group consists of the following listed medical device companies: Medtronic Inc., Baxter International Inc., Covidien PLC, Stryker Corp., St. Jude Medical Inc., Boston Scientific Corp., Sonova Holding AG, Smith&Nephew PLC, CR Bard Inc., Getinge AB, WDH A/S, Shandon Weigao Group Medical.