Core Viewpoint - The company is launching a new 5-year strategy called Impact4, which aims to place customers at the center of its operations and help 4 million people in the long term [1][2]. Strategic Priorities - The Impact4 strategy focuses on four key priorities: innovative customer offerings, efficiency gains, embracing technology, and cultivating a sustainable company culture [4]. - The company will reorganize into two distinct business units: Chronic Care and Acute Care, to better address market dynamics and customer needs [1]. Financial Ambitions - The long-term financial goals include organic revenue growth of 7-8% (5-year CAGR until FY 2029/30) and absolute EBIT growth in line with or above revenue growth [5]. - The company targets a ROIC of more than 20% by FY 2029/30, with a gradual improvement expected over the period [5]. - Additional financial metrics include a capex-to-sales ratio of 4-5%, a tax rate around 22%, and a net debt/EBITDA ratio decreasing to approximately 1.5x by FY 2029/30 [5]. Non-Financial Ambitions - The company aims for a 90% reduction in Scope 1+2 emissions by 2029/30 and a 10% reduction in Scope 3 emissions per product by FY 2029/30 [5]. - It plans to use 15-20% less materials in product and packaging by FY 2029/30 and improve employee engagement scores to the top quartile of the industry [5]. Business Unit Goals - In Chronic Care, the company aims for organic revenue growth above market levels and profitability improvements, focusing on areas like Ostomy Care and Intermittent Catheters [5]. - The Wound and Tissue Repair segment targets double-digit growth and improved profitability through innovation [11]. - Interventional Urology aims for mid-single to high-single digit growth, with a focus on launching new products like Intibia™ [11]. Market Context - The expected market growth during the period is projected at 4-5%, with a stable macroeconomic environment and no significant changes in tariffs or trade restrictions [12].

Core Insights - Coloplast reported a 6% organic growth in Q2, affected by a product recall in Interventional Urology and a softer performance in Ostomy Care [1][3] - The company maintained an EBIT margin of 27% in Q2, with reported revenue in DKK increasing by 5% [1][2] - The FY 2024/25 guidance has been revised to an expected organic growth of around 7% and an EBIT margin before special items of 27-28% [3][7] Financial Performance - H1 2024/25 organic growth was 7%, with reported revenue in DKK reaching DKK 13,956 million, a 6% increase [2] - EBIT for the period was DKK 1,891 million, reflecting a 6% increase from the previous year, maintaining an EBIT margin of 27% [4] - Adjusted net profit before special items was DKK 2,666 million, a DKK 175 million increase from last year, with adjusted diluted EPS rising by 7% to DKK 11.83 [4] Business Area Performance - Organic growth rates by business area included: Ostomy Care 4%, Continence Care 8%, Voice and Respiratory Care 7%, Advanced Wound Care 10%, and Interventional Urology -1% [4] - The slower growth in Ostomy Care was attributed to a high baseline in Europe and tender phasing in Emerging markets, with expectations for improvement in the second half of the year [4] - Kerecis experienced a significant growth of 30%, with a 12% EBIT margin before PPA amortization [4] Strategic Changes - CEO Kristian Villumsen stepped down on 5 May 2025, with Lars Rasmussen appointed as interim CEO [5] - The Board is conducting a search for a new CEO to drive long-term growth and value creation [5] Future Outlook - The reported growth in DKK is now expected to be around 4%, down from previously around 7%, influenced by the revised organic growth outlook and currency impacts [7] - Special items are anticipated to be around DKK 450 million due to restructuring initiatives aimed at profitability improvement [7]

Core Viewpoint - Coloplast has revised its financial guidance for FY 2024/25, lowering expectations for organic growth and EBIT margin before special items [1] Financial Guidance Revision - Organic growth is now expected to be around 7%, down from the previous estimate of 8-9% [1] - EBIT margin before special items is now projected to be 27-28%, reduced from around 28% [1] Key Financial Figures for H1 2024/25 - Group organic growth was 7% in H1, with an EBIT margin before special items of 27% [6] - Organic growth rates by business area for H1: Ostomy Care 6%, Continence Care 7%, Voice and Respiratory Care 9%, Advanced Wound Care 11%, and Interventional Urology 0% [6] Q2 Performance Insights - Group organic growth was 6% in Q2, with an EBIT margin before special items of 27% [6] - Organic growth rates by business area for Q2: Ostomy Care 4%, Continence Care 8%, Voice and Respiratory Care 7%, Advanced Wound Care 10%, and Interventional Urology -1% [6] Factors Influencing Growth - Slower growth in Ostomy Care attributed to a high baseline in Europe, tender phasing in Emerging markets, and a slowdown in China [6] - Advanced Wound Care growth driven by Kerecis, which grew 30% [6] - Interventional Urology growth negatively impacted by a voluntary product recall, with an estimated impact of around DKK 35 million in Q2 [6] Updated Assumptions for Guidance - Revised organic growth guidance reflects expectations of around 0% growth in Interventional Urology for the year [6] - Reported revenue growth in DKK is now expected to be around 4%, down from previously around 7% [6] - Special items are now expected to be around DKK 400 million, increased from previously DKK 130 million, due to restructuring and asset write-downs [6]