Core Insights - Coloplast reported Q1 organic growth of 6% and EBIT growth in constant currencies of 3%, with a return on invested capital of 15% [1][9] Financial Performance - Reported revenue in DKK grew 0%, impacted by a 4 percentage points negative effect from currencies [1] - EBIT was DKK 1,850 million, with a reported EBIT margin of 26%, down from 27% last year [4] - Free cash flow-to-sales ratio improved to 26% from 24% last year [9] Business Area Performance - Ostomy Care experienced a soft start with 4% growth, affected by negative growth in China and a high baseline in the US [2] - Continence Care grew by 7%, driven by strong contributions from Luja™ [2] - Voice & Respiratory Care saw an 8% increase, supported by growth in Laryngectomy [2] - Wound & Tissue Repair had a mixed performance, with Kerecis showing 10% organic growth but facing challenges due to Medicare reimbursement changes [2][3] - Advanced Wound Dressings declined by 3% due to product returns in China, impacting revenue by approximately DKK 25 million [3] - Interventional Urology showed strong growth, particularly in the US Men's Health business [3] Future Guidance - FY 2025/26 guidance remains unchanged, targeting around 7% organic revenue growth and EBIT growth in constant currencies [6] - Kerecis is now expected to deliver around 10% growth, down from a previous estimate of 25% due to sales disruptions [7] - Reported growth in DKK is anticipated at around 4%, with a negative currency impact of approximately 3 percentage points [7] Strategic Developments - Coloplast US plans to acquire Uromedica, a company specializing in stress urinary incontinence treatment, expected to close in February 2026 [5]