Coloplast A/s Stock Earnings Reports

Coloplast reported Q1 FY25/26 results with 6% organic revenue growth and 3% EBIT growth in constant currencies before special items. The company reiterated full-year guidance of ~7% organic revenue growth and ~7% EBIT growth in constant currencies, while adjusting some segment outlooks: Kerecis (Wound & Tissue Repair) guidance was lowered to around 10% growth for the year due to significant Medicare reimbursement changes creating short-term disruption in the outpatient channel, and Interventional Urology guidance was raised to high single-digit growth after a strong Q1. Kerecis delivered 10% organic growth in Q1 but an EBIT margin of only 1% (with ~DKK 30m one‑off go‑to‑market and advisory costs), and management expects a significant margin recovery to around double digits for Kerecis for the full year. Other highlights: Ostomy Care and Continence Care showed resilient underlying performance (Ostomy +4% organic; Continence +7% organic), Voice & Respiratory Care grew 8% (laryngectomy strong; tracheostomy back-end loaded), Advanced Wound Dressings and China-related impacts weighed on Wound & Tissue Repair (product return in China reduced Q1 revenue by ~DKK 25m). Financials: gross margin 67% (down 100 bps vs prior year primarily FX and ramp‑up costs), operating profit before special items DKK 1.9bn, operating cash flow DKK 2.2bn, capex elevated (DKK 414m, includes Portugal site ramp). Currency headwinds (notably USD weakness) shave ~3 p.p. off reported revenue growth; reported revenue growth in DKK now expected ~4%. Management views the Kerecis outpatient disruption as temporary and believes the company's unique fish-skin technology and clinical evidence leave it well-positioned long term. INTIBIA (implantable tibial nerve stimulator) PMA submission to FDA completed; launch expected in FY26/27. The CEO search is ongoing and an EVP transition in Interventional Urology will occur Feb 9.