During the first 9 months of 2009/10 Coloplast shows organic growth of 7% and an EBIT margin of 20% against 15% last year.
"I am very satisfied. We continue to improve our margins faster than expected even though we have had high costs this year due to the transfer of production. Furthermore, I am particularly pleased with the fact that we have increased growth in our Ostomy business from 3% to 7% in just one year," says CEO Lars Rasmussen.
Based on the results Coloplast now expects an EBIT margin for the year of 20% against the previous forecast of 19-20%. Consequently, Coloplast fulfills the long-term target of a profit margin of 20% this year.
"The results show that our long-term expectations have been ambitious, but realistic. For quite a long period now we have shown improvement in performance and cost discipline - a development which underlines the potential of Coloplast," says Lars Rasmussen.
Coloplast expects an organic growth rate for the year of 6-7% and 7-8% in DKK.