Coloplast (COLO) Investor presentation summary

Financial performance and guidance

• Organic revenue growth reached 6% in H1 2025/26, with reported growth at 1% due to negative currency effects and the Skin Care divestment.

• EBIT margin before special items was 26%, down from 27% last year, impacted by currency headwinds and Kerecis.

• Free cash flow to sales ratio improved to 20% in H1, driven by better working capital and lower financial items.

• FY 2025/26 guidance expects 5-6% organic growth, around 5% EBIT growth in constant currencies, and ROIC around 15%.

• Special items of DKK 3.1 billion include a DKK 3 billion impairment loss on Kerecis goodwill.

Business segment performance

• Chronic Care and Interventional Urology drove growth, with Ostomy Care and Continence Care both achieving 7-8% organic growth in Q2.

• Voice & Respiratory Care grew 8% organically, led by Laryngectomy, while Wound & Tissue Repair declined 2% due to Kerecis and China product returns.

• Interventional Urology saw 8% organic growth, mainly from US Men's Health and the Titan penile implant.

• Kerecis faced significant sales disruption from Medicare reimbursement changes, leading to a goodwill impairment.

Strategic priorities and investments

• Impact4 strategy focuses on innovative customer offerings, efficiency gains, technology adoption, and a sustainable, high-performance culture.

• Investments target new manufacturing in Portugal, technology programs, and commercialisation of high-potential products like Intibia and Kerecis.

• Dynamic resource allocation shifts investment from low-performing segments to high-growth areas such as US Chronic Care and R&D.