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ConvaTec Group (CTEC) investor relations material
ConvaTec Group Trading Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Trading and Financial Performance
Organic revenue growth excluding InnovaMatrix reached 6.3% year-to-date, with reported growth at 6.2% and broad-based category contributions.
FY25 organic revenue growth guidance is 6.0–6.5% (excluding InnovaMatrix), with adjusted operating profit margin at 22.0–22.5% and double-digit adjusted EPS growth expected.
FY26 outlook anticipates 5–7% organic revenue growth (excluding InnovaMatrix), continued margin expansion, and double-digit EPS growth.
InnovaMatrix revenue for FY25 expected to be $70 million, with CMS reimbursement changes in 2026 representing a 1–2% group revenue headwind and less than 2% of group revenue.
Adjusted net finance expense projected at $65–70m, capex at $160–180m, and book tax rate at approximately 24%.
Strategic Progress and Product Pipeline
New product launches such as ConvaFoam, Esteem Body, and GentleCath Air for Women are gaining market share and supporting growth.
Three new wound care products (ConvaNioX, ConvaFiber, ConvaVac) and other pipeline launches are planned for 2026, with ConvaNioX seen as a major long-term opportunity.
Esteem Body in ostomy care is gaining share in all major markets, with Natura Body (two-piece) launching in 2027.
Infusion care growth is driven by both diabetes and non-diabetes therapies, with new products for Medtronic and AbbVie performing strongly.
Secured first US Ostomy GPO contract in over five years and extended another key contract by three years.
Capital Expenditure and Growth Investments
CapEx is being accelerated to $160–180m to support strong demand, especially in infusion care and wound care.
CapEx is expected to run above 5% of sales for a couple of years, then return to steady-state levels.
Investments are supported by clear customer forecasts and minimum volume commitments.
$202m of a $300m share buyback program completed and first $500m investment grade bond issued.
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