Coloplast tracks best day in over 8 years after Q1 earnings beat

Coloplast A/S

09/02/2024 08:49

** Shares in Coloplast  COLOb.CO  jump over 9% after the
Danish medical equipment maker reported better than expected Q1
results
    ** If gains hold, Coloplast will see its best day since
November 2015
    ** Q1 EBIT before special items came in at DKK 1.82 billion 
($263.5 million) vs a company-complied consensus of DKK 1.78
billion, corresponding to an EBIT margin of 27.6% vs consensus
of 26.8%
    ** Growth was driven by a good start in the chronic
business, with both Ostomy Care and Ostomy delivering organic
growth of 8%, against an expected 7% for both, Jyske Bank says
    ** Q1 sales of DKK 6.61 billion were broadly in line with a
consensus of DKK 6.63 million, with 8% organic growth ahead of
estimates of 7.3%
    ** Coloplast is among top performers on European benchmark
STOXX 600 index  .STOXX 

($1 = 6.9135 Danish crowns)

 (Reporting by Elsa Ohlen)
 ((elsa.ohlen@thomsonreuters.com;))