Coloplast shares hit 2019 low after CEO steps down, 'weak' Q2

Coloplast A/S

06/05/2025 08:38

** Shares in Coloplast COLOb.CO fall 6%, hitting their lowest since 2019, after the Danish medical equipment maker's CEO stepped down on Monday and it reported a Q2 miss on Tuesday

** Q2 revenues were DKK 6.93 billion ($1.05 billion), below an estimate of DKK 7.03 billion; Q2 adjusted EBIT was DKK 1.89 billion versus estimated 1.94 billion

** RBC says that Q2 the weakness was expected following the company's profit warning last week

** The board has decided to start search for a new CEO and as a result CEO Kristian Villumsen stepped down effective as of Monday, Coloplast said

** "Whilst the market has been sceptical about recent strategic decisions and underperformance of the company ... the news is likely to increase investor nervousness," says J.P.Morgan

** "This change in leadership is extremely abrupt, and we can't help but wonder if the board has reached its tolerance for below-par profitability and a depressed share price," says Morningstar

** Shares are down more than 16% year-to-date

($1 = 6.5870 Danish crowns)

 (Reporting by Greta Rosen Fondahn)

 ((Greta.RosenFondahn@thomsonreuters.com))