Our Q2 organic revenue growth forecast of 7.4% is in line with the c7% full-year guidance (results due around noon on 3 May). We expect continued strong growth in Ostomy and Urology, and improved growth in Wound care QOQ but the division to remain a drag. With increased investments concluded in Q1, we expect the EBIT margin to improve QOQ. We reiterate our BUY and DKK590 target price.
At the time of its strategy update in November Coloplast said it had decided to increase investments with the aim of growing organically at the higher end of its 7–9% long-term target, with the main question for investors being when this will materialise. We still view Coloplast’s history of outgrowing the market a result of its superior product innovation, a trend we expect to accelerate in 2019 on product launches such as SenSura Mio Concave. We see a particularly good buying opportunity a...
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