Coloplast delivers 11% organic growth in Q3
Organic growth in Q3 was 11% and reported revenue was up by 9% to DKK 4,835 million. Numbers reflects efficiency gains and lower costs due to COVID-19, partly offset by continued investments.
“COVID-19 continues to impact our business, but the situation is improving, and I am encouraged by the rollout of the vaccination programmes and the improvement in hospital access across markets. Growth in new patients within our Chronic Care business is either largely normalised at pre-covid levels or approaching normalisation. This gives me confidence that growth rates will improve going forward,” says CEO Kristian Villumsen and continues.
“I would like to highlight a solid momentum in our Wound & Skin Care business, driven by Europe and China and a strong contribution from our Biatain Silicone portfolio. Growth in our Chronic Care business in Europe is also picking up driven by an increase in new patients, and our Emerging markets business is on track to delivering a strong year.”
“We continue to move forward with our 2025 strategy, Strive25, which focuses on innovation and growth, and we are making solid progress with our Clinical Performance Programme. This quarter, we have received the CE mark for our new Digital Ostomy Tool developed to avoid leakage accidents and we will soon initiate payer pilot studies in Germany and the UK. Towards the end of 2021, we will initiate a pivotal study on our new Ostomy Platform designed to reduce skin irritation – a significant issue for ostomy users. Finally, we have made solid progress on the product design and performance of our new Catheter Platform, which is now expected to launch in the first half of this strategy period.”
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%.
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%.
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% |
