Coloplast Trims Full-Year Guidance Despite H1 Profit Growth

Coloplast has announced a downward revision of its financial guidance for the 2025/26 fiscal year, citing headwinds in its skin substitutes segment. Despite the lowered outlook, the company posted a first-half net profit before special items of 2.81 billion Danish kroner, representing a 6% year-over-year increase. The profit growth was bolstered by favorable exchange rate adjustments. For the first half, EBIT before special items stood at 3.67 billion kroner, with organic growth for the group holding steady at 6%. In the second quarter specifically, EBIT before special items reached 1.82 billion kroner, with organic growth remaining at 6%. However, the company has adjusted its organic growth expectations for the full year to 5-6% in constant currencies, down from the previous target of approximately 7%. Similarly, reported revenue growth in DKK is now projected at around 3%, compared to the previous 4% estimate. EBIT growth in constant currencies is also expected to slow to approximately 5% from the earlier 7% forecast. The guidance shift is primarily attributed to a sluggish recovery in the outpatient setting for skin substitutes, which has negatively impacted the growth outlook for Kerecis. While Coloplast maintains its long-term five-year strategic ambitions and expects a return on invested capital after tax of around 15%, the immediate outlook suggests a cooling period for specific product lines.