Coloplast Finance B.V.

Coloplast A/S - Interim Financial Report, 9M 2025/26

Interim financial results, 9M 2025/26
1 October 2025 - 30 June 2026

Coloplast delivered Q3 organic growth of 6% and 5% EBIT growth¹ in constant currencies. Strong quarter in both Chronic Care ex. China and Interventional Urology; continued reimbursement-related challenges in Biologics. Reported revenue in DKK also grew 6%, as currencies had a net neutral impact. Return on invested capital after tax before special items was 15%.
• Organic growth rates by business area: Ostomy Care 5%, Continence Care 8%, Voice & Respiratory Care 6%, Wound & Tissue Repair 3%, and Interventional Urology 7%.
• Strong quarter in Ostomy Care ex. China, with strong double-digit growth in the US and solid performance in Europe and Emerging markets ex. China.
• Strong quarter in Continence Care, with double-digit growth in the US and solid growth in Europe, driven by Luja.
• Solid quarter in Voice & Respiratory Care, with strong growth in Laryngectomy and softer quarter in Tracheostomy.
• Challenging quarter in Biologics with 6% sales decline and -5% EBIT margin before PPA amortisation, due to the reimbursement change.
• Advanced Wound Dressings grew 4%: good momentum in the US and positive impact from phasing in Germany and the Middle East, partly offset by the China product return.
• Continued strong momentum in Interventional Urology, driven by the US Men’s Health business.
• EBIT^1,2 was DKK 1,929 million. EBIT^1,2 in constant currencies increased 5% compared to last year, while reported EBIT^1,2 increased 1% from last year. The EBIT margin^1,2 was 26%, against 28% last year, and includes around 110 basis points negative impact from currencies and around 60 basis points negative impact from Kerecis.

9M 2025/26 organic growth of 6% and 5% EBIT growth¹ in constant currencies. Reported revenue in DKK grew 3%, reflecting 3%-points negative impact from currencies.
• Organic growth rates by business area: Ostomy Care 5%, Continence Care 7%, Voice & Respiratory Care 7%, Wound & Tissue Repair 2%, and Interventional Urology 8%.
• EBIT^1,2 was DKK 5,599 million. EBIT^1,2 in constant currencies increased 5% compared to last year, while reported EBIT^1,2 decreased 2% from last year. The EBIT margin^1,2 was 26%, against 27% last year, reflecting around 90 basis points negative impact from currencies and around 50 basis points negative impact from Kerecis.
• Net profit before special items was DKK 4,289 million, or a DKK 510 million increase from last year (adjusted for the non-recurring tax impact last year), positively impacted by lower net financial items due to gains on exchange rate adjustments, as expected. Adjusted diluted EPS before special items increased by 14%.
• The free cash flow-to-sales ratio was 20% vs. 16% last year³, reflecting favourable development in working capital and lower net financial items, partly offset by higher capital expenditures.
• Return on invested capital after tax before special items was 15%, on par with last year adjusted⁴.

Unchanged FY 2025/26 guidance: Organic revenue growth expected at 5-6%, EBIT growth in constant currencies at around 5%⁵. Return on invested capital after tax before special items expected around 15%.
• For organic revenue growth we expect continued good momentum in Chronic Care ex. China and high single-digit growth in Interventional Urology.
• Kerecis is expected to deliver around 0% organic growth and around 0% EBIT margin.
• Reported revenue growth in DKK is expected at around 3%, with 2-3%-points negative impact from currencies.
• Capex-to-sales ratio expected around 5%. The effective tax rate is expected around 22%.
• Special items is expected around DKK 3.1 billion, reflecting the DKK 3 billion Kerecis impairment loss.

”We deliver a strong Q3 result with 6% organic growth and 5% EBIT growth, which means that we continue to help more and more people with intimate healthcare needs live better lives. My first 100 days have reinforced my conviction that Coloplast is a fundamentally strong company, operating in attractive markets, where we hold leadership positions and see significant growth opportunities. What stands out to me is the strength of our Chronic Care business, the significant untapped potential in the US, and the quality of our people. Today, I am sharing the priorities that I believe will be most important to driving long-term value creation” says Gavin Wood, President & CEO.

1. Before special items of DKK -18 million in Q3 2025/26 and DKK -3,078 million in 9M 2025/26. 2. Before special items of DKK -83 million in Q3 2024/25 and DKK -241 million in 9M 2024/25. 3. Excluding impact from the Uromedica acquisition this year and the Skin Care divestment last year. 4. Last year adjusted for the impact from the Kerecis IP transfer. 5. Before special items expenses of around DKK 3.1 billion in FY 2025/26.

For further information, please contact
 
Investors and analysts
Anders Lonning-Skovgaard
Executive Vice President, CFO
Tel. +45 4911 1111

Kristine Husted Munk
Sr. Director, Investor Relations
Tel. +45 4911 1800 / +45 4911 3266
Email: dkkhu@coloplast.com

Simone Dyrby Helvind
Sr. Manager, Investor Relations
Tel. +45 4911 1800 / +45 4911 2981
Email: dksdk@coloplast.com

Press and media
Peter Mønster
Head of Media Relations & Corporate Content
Tel. +45 4911 2623
Email: dkpete@coloplast.com

Address
Coloplast A/S
Holtedam 1
DK-3050 Humlebaek
Denmark
Company reg. (CVR) no. 69749917

Website
www.coloplast.com

This announcement is available in a Danish and an English-language version. In the event of discrepancies, the English version shall prevail.

The Coloplast story begins back in 1954. Elise Sørensen is a nurse. Her sister Thora has just had an ostomy operation and is afraid to go out in public, fearing that her stoma might leak. Listening to her sister’s problems, Elise conceives the idea of the world’s first adhesive ostomy bag.
Based on Elise’s idea, Aage Louis-Hansen, a civil engineer and plastics manufacturer, and his wife Johanne Louis Hansen, a trained nurse, created the ostomy bag. A bag that does not leak, giving Thora – and thousands of people like her – the chance to live the life they want. 
A simple solution that makes a difference. 
Today, the Coloplast Group develops products and services that help millions of people live more independent lives through solutions tailored to their needs. Globally, our business areas include Ostomy Care, Continence Care, Voice & Respiratory Care, Wound & Tissue Repair, and Interventional Urology.

  

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