Business
ConvaTec full year 2016 results
ConvaTec full year 2016 results.
About this update from Convatec Group Plc
[{"type":"text","content":"\n \nRNS Number : 2939Y ConvaTec Group PLC 02 March 2017 \n \n\n \nStrong results, delivering on strategy\n2 March, 2017 - ConvaTec Group Plc and subsidiaries (\"ConvaTec\" or \"Group\") (LSE: CTEC) announces unaudited results for the full year to 31 December, 2016.\n\n\n\n\nAdjusted results(1)\n\n\nFull Year 2016\n\n\nFull Year 2015\n\n\nGrowth\n\n\nGrowth at CER(2)\n\n\n\n\nRevenue\n\n\n$1,688m\n\n\n$1,650m\n\n\n2.3%\n\n\n4.0%\n\n\n\n\nGross Margin\n\n\n60.9%\n\n\n59.6%\n\n\n\n\n\n\n\n\n\n\nEBITDA\n\n\n$508m\n\n\n$474m\n\n\n7.1%\n\n\n6.5%\n\n\n\n\nEBIT/Operating profit\n\n\n$472m\n\n\n$437m\n\n\n8.1%\n\n\n7.1%\n\n\n\n\nEBIT margin\n\n\n28.0%\n\n\n26.5%\n\n\n\n\n\n\n\n\n\n\nEarnings per share\n\n\n$0.13\n\n\n$0.10\n\n\n\n\n\n\n\n\n\n\nPro-forma Earnings per share\n\n\n$0.18\n\n\n$0.17\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nReported results\n\n\nFull Year 2016\n\n\nFull Year 2015\n\n\nGrowth\n\n\nGrowth at CER(2)\n\n\n\n\nRevenue\n\n\n$1,688m\n\n\n$1,650m\n\n\n2.3%\n\n\n4.0%\n\n\n\n\nGross Margin\n\n\n51.4%\n\n\n51.5%\n\n\n\n\n\n\n\n\n\n\nEBITDA\n\n\n$336m\n\n\n$412m\n\n\n(18.4)%\n\n\n(19.0)%\n\n\n\n\nEBIT/Operating profit\n\n\n$154m\n\n\n$230m\n\n\n(33.2)%\n\n\n(37.9)%\n\n\n\n\nOperating profit margin\n\n\n9.1%\n\n\n14.0%\n\n\n\n\n\n\n\n\n\n\nEarnings per share\n\n\n$(0.15)\n\n\n$(0.07)\n\n\n\n\n\n\n\n\n\n\n_______________________________\n(1) Certain financial measures in this press release, including adjusted results above, are not prepared in accordance with IFRS. All adjusted measures are reconciled to the most directly comparable measure prepared in accordance with IFRS on pages 46 to 49.\n(2) Constant currency growth 'CER' is calculated by restating 2016 results using 2015 foreign exchange rates for the relevant period.\n2016 Full Year Highlights:\n• Strong franchise revenue performance with financial results in line with guidance\n• Significant margin development, Margin Improvement Programme (\"MIP\") execution ahead of plan\n• Continuing strong performance in Advanced Wound Care (\"AWC\") supported by our differentiated AQUACEL® portfolio\n• Ostomy Care showing consistent growth momentum following implementation of strategic actions\n• Successful execution of IPO and new debt refin...