Investor Presentaiton
FY 2022/23 guidance narrowed - organic growth of around 8% and
reported EBIT margin of 28-29%¹
GUIDANCE 2022/23 GUIDANCE (DKK)*
SALES
GROWTH
Around 8%
8-9%
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KEY ASSUMPTIONS
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•
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EBIT
MARGIN
28-29%
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(before special items)
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CAPEX
(DKKm)
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Around 1.4bn
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Chronic Care ex. China expected to grow largely in line with Strive25 ambitions: Europe - continued good
momentum; US - sustained good momentum in Ostomy Care and improvement in growth in Continence
Care; Emerging markets - broad based double-digit growth ex. China
Wound and Skin Care - growth above market in line with Strive25 ambitions
China (OC and WC) - impact from COVID-19 in H1 2022/23, and expected improvement in growth in H2
2022/23, mostly driven by a lower baseline last year, as well as improved hospital access and procedural
volumes towards the end of Q2. In Ostomy Care, a gradual improvement in inflow of new patients is
expected. Average value per patient expected to remain below pre-COVID levels
Interventional Urology - expected to grow around 10%
Voice & Respiratory Care - expected to grow at 8-10% (8 months impact on organic growth)
Russia
-
revenue expected to be on par with FY 2021/22 (1% of group revenue) with negative growth
No current knowledge of significant healthcare reforms; positive pricing impact expected
Stable supply and distribution of products - backorder impact in Collecting Devices in H1 2022/23 and
Wound Care in the first nine months of 2022/23
Reported growth in DKK assumes negative impact from currencies of around 2%-points and 3%-points
contribution from the Atos Medical acquisition
Increased input cost: raw materials - double-digit price increase, energy costs - around double vs. 2021/22
(-60% of electricity consumption for H2 hedged at ~400 EUR/MWh), double-digit wage increase in Hungary
Negative impact from currencies
Leverage effect on fixed costs and continued efficiency improvements through GOP5
Prudent management of OPEX - expected to grow below reported revenue growth (excl. acquired growth)
Amortisation charges related to the Atos Medical acquisition of around DKK 230 million
Special items of around DKK 50 million related to Atos Medical integration costs
Investments in automation at volume sites in Hungary and China as part of GOP5
Investments in new machines for existing and new products
IT and sustainability investments
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Atos Medical capex and integration capex
14
TAX RATE
Around 21%
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Positive (one-off) impact from Atos Medical IP transfer
*DKK guidance is based on spot rates as of 9 May 2023
1) Before special items of around DKK 50 million in Atos Medical integration costs
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