Coloplast A/S - Annual Report 2025/26 & Remuneration Report 2025/26

FY 2025/26 organic growth was 6% and EBIT growth¹ in constant currencies was 4%. Reported revenue in DKK grew 4%, reflecting 2%-points negative impact from currencies.

• Organic growth rates by business area: Ostomy Care 5%, Continence Care 7%, Voice & Respiratory Care 8%, Wound & Tissue Repair 2%, and Interventional Urology 7%.
• EBIT¹ was DKK 7,447 million. EBIT¹ in constant currencies increased 4% compared to last year, while reported EBIT¹ decreased 3% from last year. The EBIT margin¹ was 26%, against 28% last year, and includes around 100 basis points negative impact from currencies, around 40 basis points incremental negative impact from Kerecis, investments related to the Impact4 strategy and an increase in inflationary pressure in Q4.
• Net profit before special items was DKK 5,566 million, or a DKK 418 million increase from last year (adjusted), positively impacted by lower net financial items due to gains on exchange rate adjustments. Adjusted diluted EPS before special items increased by 8%.
• Strong development in free cash flow, with a free cash flow-to-sales ratio of 22% vs. 19% last year², reflecting favourable development in working capital and lower net financial items, partly offset by higher capital expenditures.
• Return on invested capital after tax before special items was 15%, on par with last year (adjusted)³.

Sustainability highlights

• Absolute scope 1 and 2 emissions: a 52% decrease in the year compared to the base year 2018/19, driven by ongoing efforts to phase out fossil-based energy sources, as well as continued progress towards increasing the share of electric vehicles.
•  Reimbursement improvement: this financial year, the Centers for Medicare and Medicaid Services implemented three new codes for hydrophilic catheters from January 2026. Coloplast played a key role in the process that led to the creation of the new codes. 
• Employee satisfaction: employee engagement score continued to be above industry benchmark, at 78% out of 100%. 
  

Revised 2030 financial ambition and FY 2026/27 guidance:

• 2030 financial ambition: organic revenue growth of 5-7% per year and an EBIT margin¹ in the mid-20% range over the period. ROIC⁴ expected around 20% in FY 2029/30. For further information, please refer to the stock exchange announcement here: 10/2026.
• FY 2026/27 organic growth expected to be 5-7%: continued momentum in Chronic Care, mid- to high-single digit growth in Interventional Urology and return to growth in Biologics from Q2.
• FY 2026/27 EBIT margin¹ of around 25%: pressure on gross margin from inflation and ramp up cost in Portugal, while step up in investments will impact operating expenses. ‘Funding the journey’ program⁵ to support the step up in investments and partly offset gross margin headwinds.
• Reported revenue growth in DKK in FY 2026/27 of 7-9% (around 2%-points positive impact from currencies), while the reported EBIT margin¹ will include up to 50 basis points positive impact from currencies, calculated using current spot rates.
• Capex-to-sales ratio expected around 5%. The effective tax rate is expected around 22%.
• Special items is expected around DKK 200 million related to our ‘funding the journey’ program.

“We delivered strong 6% organic growth for the full year and 4% EBIT growth, broadly in line with our updated guidance from April 2026. My first six months as CEO have strengthened my belief that Coloplast is uniquely positioned for long-term success, with leading positions in attractive markets and significant opportunities for growth. What stands out is the strong growth in Chronic Care and Interventional Urology in the US, including reaching 20% market share in Ostomy Care this year, while the biologics market has now gone through a reimbursement change. We also continued to see strong contributions from new products globally, underlining the strength of our innovation pipeline. The priorities we have set, our updated long-term ambition and our ‘funding the journey’ programme give us a clear path forward and will enable us to step up investments in innovation and commercial opportunities to drive long-term growth and value creation,” says Gavin Wood, President & CEO.

Conference call: Coloplast will host a conference call on Tuesday, 3 November 2026 at 11.00 am CET. The call is expected to last about one hour. To actively participate in the Q&A session please sign up ahead of the conference call on the link here to receive an e-mail with dial-in details: Register here
Access the conference call webcast directly here: Coloplast – FY 2025/26 Earnings release conference call 

Please find our Annual Report 2025/26 and Remuneration Report 2025/26 in the links below.

1. Before special items. 2. Excluding impact from acquisitions and divestments. 3. ROIC last year adjusted for the impact from the Kerecis IP transfer. 4. After tax and before special items 5. ‘Funding the journey’ program to free up around DKK 500 million with full impact in FY 2027/28, of which around 75% impact in FY 2026/27.

For further information, please contact