Coloplast A/S Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2014; Revised Financial Guidance for the Year 2014 / 2015
January 29, 2015 at 05:49 am EST
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Coloplast A/S announced unaudited consolidated earnings results for the first quarter ended December 31, 2014. For the quarter, the company reported revenue of DKK 3,301 million compared to DKK 3,063 million a year ago. Operating profit was DKK 1,076 million compared to DKK 1,013 million a year ago. Profit before tax was DKK 1,048 million compared to DKK 1,040 million a year ago. Net profit for the period was DKK 797 million compared to DKK 780 million a year ago. Diluted EPS was DKK 3.74 compared to DKK 3.63 a year ago. Cash flows from operating activities were DKK 646 million compared to DKK 602 million a year ago. Investments in property, plant and equipment under construction were DKK 136 million compared to DKK 107 million a year ago. The free cash flow amounted to DKK 915 million, a DKK 533 million increase on the same period of last year. EBITDA was DKK 1,194 million compared to DKK 1,119 million a year ago. Return on equity was 55% compared to 49% a year ago.
For the year 2014/15, the company expects revenue growth of 8-9% against the previous guidance of 9% at constant exchange rates and 12-13% against previously 11% in DKK. The company continue to expect the EBIT margin to be about 34%, both at constant exchange rates and in DKK. Capital expenditure is still expected to be around DKK 650 million. The effective tax rate is still expected to be around 24%.
Coloplast A/S specializes in the design, manufacturing, and marketing of disposable medical products. Net sales break down by family of products as follows:
- hygiene products (43.4%): urine bags, plugs, urinary testing systems and sets, etc.;
- ostomy care products (36.8%): bags and equipment used following intestinal operations;
- wound care and skincare products (11.9%): wound dressings, bandages, creams and gels;
- voice and respiratory care products (7.9%): voice prostheses for speaking, adhesives, laryngectomy cannulas for breathing, hands-free speaking devices, etc.
Net sales are distributed geographically as follows: Denmark (1.4%), the United States (21%), the United Kingdom (14%), France (10.8%) and other (52.8%).
Coloplast A/S Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2014; Revised Financial Guidance for the Year 2014 / 2015