Coloplast A/S (CLPBF) Q4 2023 Earnings Call Transcript

Coloplast A/S (OTCPK:CLPBF) Q4 2023 Earnings Conference Call November 9, 2023 5:00 AM ET

Company Participants

Kristian Villumsen – President and Chief Executive Officer

Anders Lonning-Skovgaard – Chief Financial Officer

Conference Call Participants

Anchal Verma – J.P. Morgan

Hassan Al-Wakeel – Barclays

Maya Pataki – Kepler Cheuvreux

Christian Ryom – Danske Bank

Veronika Dubajova – Citi

Oliver Metzger – ODDO BHF

Graham Doyle – UBS

Martin Parkhøi – SEB

Kristian Villumsen

Thank you, operator. Good morning and welcome to our Full-Year 2022/2023 Conference Call Ladies. I’m Kristian Villumsen, the CEO of Coloplast and I’m joined by our CFO, Anders Lonning-Skovgaard; and our Investor Relations team. We will start with a short presentation by Anders and myself and then open up for questions as we usually do.

Could I ask you all to please turn to slide number three. We delivered 8% organic growth and a reported EBIT margin before special items of 28% for the 202/2023 financial year. Return on invested capital after tax and before special items, was 17%, reflecting impact from the ATOS medical and Kerecis acquisitions. Now fourth quarter, we delivered organic growth of 8% and a reported EBIT margin before special items of 28%.

I’m satisfied with this year’s organic growth result as we continue to take market share across all our business areas. More importantly, we continue to help more than 2 million people with intimate health care needs, and we also welcome more than 260,000 new users into our patient support program, Coloplast Care.

In this challenging macro environment, we maintained an industry-leading profitability level. Still, this year’s EBIT margin is below our long-term expectations with a decline in absolute profits reflecting significant inflationary headwinds across many cost categories.

This was a year of heavy lifting. A lot has happened, both in our external environment and

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