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Convatec Boosts Growth Target on Strong Pipeline
24 Feb
Summary
- Convatec raised its medium-term organic revenue growth target.
- Annual adjusted operating profit saw a rise of over 12%.
- New product launches and demand support company's growth.
Convatec has elevated its medium-term organic revenue growth forecast, signaling confidence in its strengthening medical product pipeline. The company announced an increase in this target on Tuesday, following a robust financial performance.
The British firm achieved an adjusted operating profit of $544 million for the fiscal year, a notable increase from the previous year's $485 million. This growth was propelled by consistent demand within its chronic-care offerings and the successful introduction of new products.
Convatec has strategically transformed into a dedicated chronic care company. This involved optimizing operations and rolling out innovative products, including advanced wound care solutions. The company has also made strides in expanding its presence across North America and Europe.
The company reaffirmed its expectation of 5% to 7% organic sales growth for fiscal 2026, excluding the InnovaMatrix product. The updated medium-term outlook now projects organic revenue growth between 6% and 8%, a revised figure from the previously stated 5%-7%.
