Investor Presentaiton
Capital structure
Comments
Overall policy is that excess liquidity is returned to
shareholders through a combination of dividends and
share buy-backs
•
Bi-annual dividends
Net interest-bearing debt
2.6x
2.3x
2.0x
21,008
18,091
0.3x
1.0x
0.1x 0.2x
Share buy-backs of DKK 500m per year
expected - no buy-back planned for FY 2022/23
Interest bearing debt will only be raised in connection
with a major acquisition, such as Atos Medical, or
other special purposes
•
In relation to the Atos Medical acquisition,
Coloplast made a Eurobond issuance of EUR
2.2bn and obtained a credit rating of BBB by
S&P Global Ratings
FY 21/22 and YTD 22/23 increase in Net interest
bearing debt (NIBD) driven primarily by the Atos
Medical acquisition
FY 22/23 NIBD/EBITDA expected to be around 2x
2,112
1,162
539
18/19 19/2020/2121/22 YTD
22/23
NIBD/EBITDA¹
NIBD (DKKm)
1)
53
Before special items of DKK 400m and DKK 200m provision related to US Mesh litigation in Q4 2018/19 and Q2 2020/21, respectively.
FY 21/22 before special items of DKK 471m, DKK 300m related to provision for Mesh litigation and DKK 171m related to the Atos
Medical acquisition. H1 2022/23 before special items of DKK 33 million related to integration costs for the Atos Medical acquisition
24/25
ColoplastView entire presentation