Coloplast profits stagnant despite growth

Coloplast, a medical device company, reported an increase in sales across all business areas during its third quarter but saw no increase in earnings. The company’s earnings remained flat at approximately 1.3 billion Danish kroner, mirroring the previous year’s level. Total earnings for the first three quarters of the fiscal year, however, show a 5 percent increase, amounting to just over 3.7 billion kroner. The largest revenue growth, at 13 percent, was in advanced wound care, with sales of nearly 1.1 billion kroner for the quarter. CEO Kristian Villumsen highlighted the double-digit growth of recently acquired entities Atos Medical and Kerecis, and the success of new products like the Luja intermittent catheter. In July 2023, Coloplast announced its acquisition of the Icelandic company Kerecis for up to 8.9 billion kroner. Doubts arose in April regarding Coloplast’s inclusion in a U.S. insurance reimbursement scheme for wound care treatments, but Villumsen expressed confidence in their resolution.