Coloplast A/s Class B · OMXCOP:COLO_B
Coloplast A/s Class B — Non-Deal Roadshow (November 2019)
73 slides from Coloplast A/s Class B's roadshow presentation, November 2019
Slide 1: Leading intimate healthcare – Roadshow presentation FY 2018/19
Making it easier_ to be one of the girls My stoma doesn’t define me. My friends know about it and they support me. I feel comfortable when we are hanging out. Leading intimate healthcare Roadshow presentation FY 2018/19 Making life easier Ostomy Care, Continence Care, Wound & Skin Care and Intervent
Slide 2: Forward-looking statements
Forward-looking statements The forward-looking statements contained in this presentation, including forecasts of sales and earnings performance, are not guarantees of future results and are subject to risks, uncertainties and assumptions that are difficult to predict. The forward-looking statements
Slide 3: 8% organic growth for the tenth consecutive quarter; 2018/19 highlights
Coloplast delivered 8% organic growth for the tenth consecutive quarter and 8% organic growth for 2018/19 2018/19 Highlights Revenue growth +9% • Full year organic growth of 8% (9% reported growth in DKK) driven Reported revenue (DKKm) by strong momentum across all business areas +8% Organic growth
Slide 4: Interventional Urology remains core to the Coloplast mission
Interventional Urology remains core to the Coloplast mission and value creation agenda Interventional Urology at a Glance ~15% market share in global market of DKK 13-14bn market FY 18/19 growing 3-5% annually 11% Coloplast position ENDOUROLOGY MEN’S HEALTH WOMEN’S HEALTH SPECIALTY INTERVENTIONS of
Slide 5: Strong performance across all business areas vs. market growth of 4-5%
Strong performance throughout 2018/19 across all business areas vs. market growth of 4-5% FY 18/19 revenue by business area FY 18/19 revenue by geography Business Reported revenue Organic growth Share of organic Geographic Reported revenue Organic growth Share of organic area DKKm growth area DKKm g
Slide 6: Ostomy Care grew 7% organically in FY 2018/19
Ostomy Care grew 7% organically in FY 2018/19, positively impacted by China and Europe Ostomy Care performance Comments • FY organic growth of 7% (reported growth 8%). Q4 organic growth of 7% (reported growth 9%) 9 9 9 • Growth in FY 2018/19 driven by China, UK, France and US 8 8 • Growth continues
Slide 7: Continence Care grew 8% organically in FY 2018/19
Continence Care grew 8% organically in FY 2018/19, driven by SpeediCath® intermittent catheters in the US and France Continence Care performance Comments 10 10 • FY organic growth of 8% (9% reported growth). Q4 organic growth of 7% 9 9 (9% reported growth). Acquired growth was 1% in FY 2018/19 8 8 •
Slide 8: Interventional Urology grew 10% organically in FY 2018/19
Interventional Urology grew 10% organically in FY 2018/19 driven by both Men’s and Women’s health Interventional Urology performance Comments • FY 2018/19 organic growth of 10% (13% reported growth). Q4 organic growth of 11% (14% reported growth) 14 14 14 • FY 2018/19 growth continues to be driven b
Slide 9: Wound Care grew 8% in FY 2018/19
Wound Care grew 8% in FY 2018/19 driven by the Biatain® Silicone portfolio in Europe Wound & Skin Care performance Comments • FY 2018/19 organic growth of 8% in Wound & Skin Care (10% reported growth). Q4 organic growth of 6% in Wound & Skin Care (8% reported growth) 11 11 • Organic growth of 8% for
Slide 10: FY 2018/19 reported revenue grew 9%
FY 2018/19 reported revenue grew 9% driven by solid organic growth of 8% Comments Revenue development • FY 2018/19 reported revenue increased by DKK 1,490m (DKKm) or 9% compared to FY 2017/18 158 17,939 • The majority of growth was driven by organic growth 1,277 55 contributing DKK 1,277m or 8% to r
Slide 11: EBIT before special items grew 9% in FY 2018/19
EBIT before special items grew 9% in FY 2018/19 Comments EBIT margin before special items development (%) • EBIT before special items increased 9% to DKK 5,556m with a reported margin before special items of 31% on par with last year • Gross margin of 68% in DKK compared to 67% last year -0.3 • Posi
Slide 12: FCF driven by solid underlying earnings development
FCF driven by solid underlying development in earnings and acquisitions in comparison period FCF development Comments • Free cash flow in FY 2018/19 was DKK 3,766m, up 10% compared to DKK 3,414m in FY 2017/18 98 99 98 • Free cash flow excluding Mesh payments in FY 2018/19 was DKK 93 92 93 4,086m, up
Slide 13: Financial guidance for FY 2019/20
Financial guidance for FY 2019/20 Guidance 2019/20 Guidance 2019/20 (DKK)* Key assumptions • Stable growth trends across regions and business areas • Up to 1% negative price pressure from reforms in France, Holland Sales growth 7-8% 7-8% and Switzerland (organic) • Approx. half of 9% price cut in Ch
Slide 14: Key highlights from 2018/19 Corporate Responsibility initiatives
Key highlights from 2018/19 Corporate Responsibility initiatives Empowering People Acting respectfully Minimising footprint Our Access to Healthcare programme has New target to increase share of diverse teams Achieved 100% electricity from supported 62 projects since 2007. (gender, generation, natio
Slide 15: Making it easier_ to be yourself – Capital Market Day 2020
Making it easier_ to be yourself Clothes are a part of my identity, so I worried about what I could wear after my operation. Today, I still dress the way I want. Coloplast Capital Market Day 2020 24 June 2020 in Copenhagen – SAVE THE DATE! The event is intended to give institutional investors and eq
Slide 16: Introduction to Coloplast
Leading intimate healthcare Introduction to Coloplast
Slide 17: Coloplast has four business areas all with global sales presence
Coloplast has four business areas all with global sales presence Group revenue 2018/19 by segment Group revenue 2018/19 by geography X = Coloplast’s global market position Emerging markets 17% Ostomy Care Continence 40% Care 36% #1 DKK DKK 17.9bn #1 Other 17.9bn European developed markets markets 59
Slide 18: Coloplast specializes in intimate healthcare needs
Coloplast specializes in intimate healthcare needs Who are our typical users How do we help them? People who have had their intestine redirected to an SenSura® Mio opening in the abdominal wall Ostomy bag Ostomy Care People in need of bladder or bowel management SpeediCath® Continence Flexible male
Slide 19: The Chronic Care model secures a predictable revenue stream
The Chronic Care model secures a predictable revenue stream and stable revenue growth The chronic care user flow Chronic Care condition New user Installed base of users Stable flow of loyal users Solid reimbursement Coloplast group revenues 17.9 11.6 9 8 8 7 7 7 7 One new patient per year… … secures
Slide 20: Intimate healthcare is characterized by stable industry trends
Intimate healthcare is characterized by stable industry trends Drivers Limiters Earlier detection and Growing elderly Surgical and cure, eventually 1 Demographics population increases 1 medical trends reduces addressable customer base for market for Coloplast Coloplast products treatment products Ex
Slide 21: Strong market positions in Europe and commercial potential outside Europe
Coloplast has strong market positions in Europe and great commercial potential outside Europe Europe Developed Emerging Ostomy Continence Urology Wound Care Addressable market 18-19n 13-14bn 12-13bn 22-24bn 4-5% 5-6% 3-5% 2-4% Size in DKK Growth in % Coloplast 40 - 50% 45 - 55% 20 - 25% 5 - 10% regi
Slide 22: Building the consumer healthcare company of the future
We are building what we believe is the consumer healthcare company of the future Superior Clinical Consumer Payer products & preference preference preference innovation Care, DtC & Direct Data and digital tools Page 22
Slide 23: LEAD20 strategy across 4 major themes
Coloplast’s LEAD20 strategy will drive revenue and earnings growth across 4 major themes 1 Superior products & innovation 2 Unique user focused market approach 3 Unparalleled efficiency 4 Strong leadership development Page 23
Slide 24: Long-term guidance for the LEAD20 strategy period
Long-term guidance for the LEAD20 strategy period aimed at accelerating growth and long-term value creation Revenue growth EBIT margin annual organic constant currencies 7–9% >30% Page 24
Slide 25: Balanced investment strategy to sustain competitive advantage
To fuel growth & sustain long-term competitive advantage, our investment strategy has a balanced approach Up to 2% of sales invested annually across… …functions …geographies …and time horizons 15/16-18/19 15/16-18/19 Short term: Sales force, marketing and infrastructure • Optimize and expand our com
Slide 26: Global Coloplast Care and DtC presence
Our global Coloplast Care and DtC presence enables us to support users across countries and business areas Over 1M consumers in our database Over 1M conversations with users across the globe Over 30 countries with a consumer setup New Bowel Care program implemented in 2018 Coloplast Care & DTC offer
Slide 27: Clinical Performance Program to tackle biggest user issues
We have initiated a very ambitious Clinical Performance Program to tackle the biggest issues users face What really matters to people using catheters? What really matters to people living with a stoma? 45 %* of users describe UTIs are their 93 % worry about leakage2 greatest challenge in life1 * Peo
Slide 28: Digitalization of new products
Through digitalization of new products, we will take the next step towards our mission of making life easier for our users Digitalization in product development as first important milestone Payers Digitalization • We have a mission of making life easier Direct for people with intimate healthcare Glo
Slide 29: Burden of illness study in Germany shows payer costs of ostomates
Example: Results from a burden of illness study in Germany show significant payer costs linked to ostomates Data Total cost per year Total cost split ostomates(1) EUR Inpatient Stoma products German claims database Colostomy, ileostomy and nursing 2.5m beneficiaries x3 and urostomy Outpatient Other
Slide 30: Global Operations Plan 4 supports LEAD20
Global Operation Plan 4 aims to support LEAD20 through continued unparalleled efficiency and financial discipline Global Operations Plan 4 1. Reduction of manufacturing in Denmark EBIT margin contribution, bps Manufacturing FTE’s in Denmark, Ultimo FY GOP 3 GOP 4 700 600 50 500 375 21% 225 100 Salar
Slide 31: Profitability supported by scalability and efficiency gains
Profitability supported by scalability and efficiency gains enabling additional investments within distribution and R&D Gross margin development, in % of revenue Cost item Development, in % of revenue 0.5%-points 28.5 28.1 28.1 28.7 29.0 28-30 Distribution 68.5 68.3 68.1 67.3 67.7 - 0.1%-points 4.3
Slide 32: Global Business Support and IT landscape enables scaling
A global Business Support and IT landscape enables Coloplast to scale faster and more efficiently Global Business Services Global business services handle the majority of all global support % of group processes 100% ~90% 100% IT infrastructure Finance/ Master Data Global Business & support accountin
Slide 33: Strong and attractive free cash flows
We will continue to deliver strong and attractive free cash flows … Taxation Net working capital CAPEX(2) Reported tax rate, % Net working capital in % revenue Depreciation in % of revenue CAPEX DKKm CAPEX in % of revenue 4.4 28 24 24 25 24 3.8 4-5% 23 24 23 23 23 23 23 2.5 2.8 649 685 669 690 617 1
Slide 34: Attractive cash returns despite large investments
…and continue to provide attractive cash returns despite large investments in commercial and expansion activities Coloplast cash distribution to investors Comments • Coloplast returns excess liquidity to Dividends paid out in the year (mDKK) (1) Share buy-back (DKKm) Pay-out ratio (%) (2) shareholde
Slide 35: Stable shareholder returns
In sum, we believe Coloplast can continue to deliver stable shareholder returns through ... 31% Comments • Stable market trends in our Chronic Care business • Strong Coloplast Care retention program and innovative DtC 10% activities 8% 9% • Increased focus on growing the business outside Europe • Ad
Slide 36: Appendices
Leading intimate healthcare Appendices
Slide 37: The Coloplast share (COLO'B-KO)
The Coloplast share (COLO’B-KO) Share Capital Ownership Coloplast share listed on Nasdaq Copenhagen since 1983 ~177 billion DKK (~26 billion USD) market cap @ ~820 DKK per 11% share (incl. A shares) 6% 2% Two share classes: 46% • 18m A shares carry 10 votes (family) • 198m B shares carry 1 vote (fre
Slide 38: Capital structure
Capital structure Comments Net interest bearing debt • Overall policy is that excess liquidity is returned to shareholders through a combination of dividends and share buy- 0.1x 0.1x 0.1x -0.3x -0.2x backs • Interest bearing debt will be raised in connection with a major acquisition or other special
Slide 39: Key Value Ratios
Key Value Ratios Profitability drivers Free Cash Flow drivers 31.9 32.7 32.3 36.1 36.6 36.3 31.5 31.7 34.7 34.6 28.5 28.1 28.7 29.0 28.1 25.2 24.1 23.8 23.4 23.6 4.3 3.8 4.0 4.0 4.2 4.4 4.4 4.4 4.1 3.8 3.2 3.5 3.7 3.9 3.9 14/15 15/16 16/17 17/18 18/19 14/15 15/16 16/17 17/18 18/19 Admin-to-Sales (%)
Slide 40: Coloplast revenue development by business area
Coloplast revenue development by business area Ostomy Care Interventional Urology 9 7,166 9 6,291 6,643 13 13 5,567 5,935 8 9 10 10 10 8 9 6 7 7 10 6 10 6 77 6 5 9 5 6 1,740 1,970 1,359 1,497 1,641 14/15 15/16 16/17 17/18 18/19 14/15 15/16 16/17 17/18 18/19 Continence Care Wound & Skin Care 16 13 6,
Slide 41: Coloplast revenue development by geography and total
Coloplast revenue development by geography and total Europe Other Developed Markets 10,573 19 9,213 9,394 9,941 15 16 8,843 8 11 8 8 11 6 5 6 6 3,642 3,791 4,380 2,945 3,177 5 4 2 5 6 6 6 4 14/15 15/16 16/17 17/18 18/19 14/15 15/16 16/17(1) 17/18 18/19 Emerging Markets Coloplast group 23 17,939 21 1
Slide 42: Coloplast Q4 2018/19 revenue and EBIT development
Coloplast Q4 2018/19 revenue and EBIT development Revenue development EBIT margin development (%) (DKKm) 64 4,619 0.3 -1.6 33.4 321 -0.4 0.2 32.0 -0.6 0.2 4,234 31.4 Revenue Q4 Organic growth Currency effect Revenue Q4 2017/18 2018/19 Reported ∆ Gross ∆ ∆ Admin- ∆ R&D- ∆ Other Reported Currency EBIT
Slide 43: Segment operating profit
Segment operating profit (Excludes shared/non-allocated costs) Chronic Care Interventional Urology Wound & Skin Care2 Ostomy and Continence Care 60 38 39 38 41 59 57 58 37 38 39 39 40 55 34 2,083 1,899 1,886 1,928 1,901 187 194 177 170 241 235 250 164 228 201 Q4 17/18 Q1 18/19 Q2 18/19 Q3 18/19 Q4 1
Slide 44: Exchange rate exposure FY 2019/20 and hedging policy
Exchange rate exposure FY 2019/20 and hedging policy Revenue FX exposure 2019/20(1) 12 months exposure from 10% initial exchange rate drop(1) Other 15% -390 USD -170 EUR CNY, JPY, AUD, BRL & ARS 12% 39% -270 GBP -170 HUF 0 14% 110 GBP 20% Revenue (DKKm) EBIT (DKKm) USD Foreign exchange rate guidance
Slide 45: Mesh litigation timeline
Mesh litigation timeline Jan. 31, 2019: Verdict vs Ethicon PA State Court: USD 41M July 6, 2020: Dec. 14, 2017: Coloplast Trial April 28, 2017: (DKK 354.3M) Sept. 9, 2014: Verdict vs Ethicon TX Federal Court Verdict vs Ethicon NJ State Court: Aug. 24, 2021: Verdict vs BSC Dec. 24, 2015: PA State Cou
Slide 46: US Mesh litigation – current financial impact
US Mesh litigation – Overview of current financial impact P&L Balance Cash flow Assets Actual/Expected cash flow, DKKbn 13/14 14/15 15/16 16/17 17/18 18/19 Restricted cash, DKKbn Actual 0.8 0.8 Expected EBIT (before 0.7 0.7 special items) 4,147 4,535 4,846 5,024 5,091 5,556 0.6 - 0.5 Special items -
Slide 47: Health reform landscape
Health reform landscape Europe Rest of World • France: Reimbursement pressure on OC, CC and WC • U.S.: Healthcare reform implementation ongoing • Greece: Reimbursement pressure on all BAs • Argentina: Macroeconomic challenges • Germany: Reimbursement pressure on OC and CC • Brazil: Macroeconomic and
Slide 48: CARE helps increase retention and compliance
CARE helps us increase retention and improve product compliance for in excess of 500,000 enrolled consumers We co-develop CARE content with CARE is a personal and “high- Global program with shared local clinicians touch” program infrastructure Advisors available on phone Clinically validated content
Slide 49: DtC marketing program reaches into the community
With our DtC marketing program we reach into the community We operate in numerous channels to expose our service …and with the reach we get several benefits and product offering… Expose innovative products Ensure product accessibility Ensure successful experience Page 49
Slide 50: Generic model for distribution and reimbursement
The generic model for distribution and reimbursement of our products Prescription & Insurance Product Payer Reimbursement price Distribution Prescription & Insurance Consumer $ Product DtC Marketing • Campaigns • Community • Relationships • Information Coloplast Page 50
Slide 51: Interventional Urology is a DKK 12-13bn market
Interventional Urology is a DKK 12-13bn market growing 3-5% annually Business Area Market Dynamics Market Size (DKKbn) Market growth ~5 • Portfolio breadth increasingly valued Endourology ~5% • Single-use visualization significant opportunity 5 ~3 • Penile implant market responding to patient awaren
Slide 52: Select products
Coloplast Interventional Urology is split into four business areas MEN’S WOMEN’S SPECIALTY ENDOUROLOGY HEALTH HEALTH INTERVENTIONS • Erectile Dysfunction • Stress Urinary Incontinence • Stone Management • Bladder Drainage • Male Incontinence (SUI) • Transurethral • Benign prostatic hyperplasia • Tes
Slide 53: The global AWC market remains large and growing
The global AWC market remains large and growing The Advanced Wound Care market remains a significant Silicone Foams and Gelling Fibers are the two biggest value pool and continues to grow across all regions categories and main growth contributors Market size in DKKbn RoW Silicone Foams Silicone Foam
Slide 54: In Wound Care we are progressing with our current strategy
In Wound Care we are progressing with our current strategy 1 Shape the standard Endorsements Publications Build a strong product 2 PIP portfolio 3 Accelerate in EU Ramp-up Strengthen position 4 in the US New structure New management New investment plan Secure leading position 5 in China Revised targ
Slide 55: US Ostomy Care: share gains in acute and home health focus
In US Ostomy Care, we continue to gain share in acute and have increased our focus on the home health channel US Ostomy patient pathway Continuing to gain share in the acute channel Patients +7 pts. Hospital 3-5 days 15/16 16/17 17/18 Recent acute contract wins PAC / HHA(1) ~75% of hospital >60 days
Slide 56: Introducing Ostomy Care
Introducing Ostomy Care Disease areas Key products Distribution of • Colorectal cancer (est. 45%) revenues* • Bladder cancer (est. 10%) • Diverticulitis (est. 15%) Urostomy • Inflammatory bowel disease (est. 10%) Ileostomy • Other (est. 20%) Colostomy Customer groups • Nurses, mainly stoma care nurs
Slide 57: Introducing Ostomy Care Supporting Products
Introducing Ostomy Care Supporting Products Market fundamentals Key products Brava® is a range of ostomy supporting products • Market size of DKK 2-3bn designed to reduce leakage or care for skin, to make • Market growth of 6-8% • Market share 30-35% Brava® Protective Seal our end-users feel secure.
Slide 58: Introducing Continence Care
Introducing Continence Care Disease areas Key products Distribution of • Spinal Cord Injured, SCI revenues • Spina Bifida, SB • Multiple Sclerosis, MS Intermittent catheters • Benign prostatic hyperplasia, BPH & prostatectomy patients Urine bags • Elderly Male ext. catheters Bowel management CC Othe
Slide 59: Introducing Bowel Management
Introducing Bowel Management Disease areas Market dynamics Faecal incontinence + Growing awareness (management products only) + Huge underpenetrated and Customer groups unserved population • Spinal Cord Injured, SCI + New devices addressing the many • Spina Bifida, SB unmet needs • Multiple Sclerosi
Slide 60: Introducing Interventional Urology
Introducing Interventional Urology Treatment (surgical) of urological disorders Disease areas Key products Distribution of revenues • Urinary incontinence • Pelvic organ prolapse Men’s health • Erectile dysfunction Women’s health • Enlarged prostate • Kidney and urinary stones Single use devices Cus
Slide 61: Introducing Wound Care
Introducing Wound Care Disease areas Key products Distribution of revenues Chronic wounds (WSC) • Leg ulcers Biatain® range • Diabetic foot ulcers Comfeel® range • Pressure ulcers Skin Care Wound Care other Customer groups Contract manufacturing & call points Hospitals Biatain® Silicone, incl. Sizes
Slide 62: Introducing Skin Care
Introducing Skin Care Disease areas Key products Product mix • Moisture associated skin damage Protectants & Antifungals • Incontinence Cleansing/Bathing • Skin folds & obesity Moisturizers • Prevention of skin impairments Textile SC Other Customer groups & call points Sween® EasiCleanse Bath® Hospi
Slide 63: Product market for US Skin Care
Product market for US Skin Care Market drivers/limiters US Skin Care at a glance + Aging and obese population • US market size estimated at DKK + CMS Value Based Purchasing 4-5bn with 2-4% growth + Increased focus on prevention + Increased importance of utilization • Market share: 10-15% management
Slide 64: The Coloplast organisation
The Coloplast organisation Coloplast Group Chronic Care Strategic Business Units Chronic Care Strategic Business Units Ostomy Care Continence Care Wound & Skin Care Interventional Urology Marketing Marketing Marketing Sales R&D Operations Sales Regions Sales Regions R&D Global Operations Global Busi
Slide 65: Coloplast Executive Management
Coloplast Executive Management Kristian Villumsen President, CEO • Born 1970 • With Coloplast since 2008 Anders Lonning-Skovgaard Allan Rasmussen Paul Marcun EVP, CFO EVP, Global Operations EVP, Chronic Care • Born 1972 • Born 1967 • Born 1966 • With Coloplast since 2006 • With Coloplast since 1992
Slide 66: Income statement
Income statement DKKm FY 2017/18 FY 2018/19 Change Revenue 16,449 17,939 9% Gross profit 11,066 12,153 10% SG&A costs -5,374 -5,963 11% R&D costs -640 -692 8% Other operating income/expenses 39 58 49% Operating profit (EBIT) before special items 5,091 5,556 9% Special items 0 -400 nm Operating profi
Slide 67: Balance sheet
Balance sheet DKKm 30 Sep 2018 30 Sep 2019 Change Balance, total 11,769 12,732 8% Assets Non-current assets 6,179 6,373 3% Current assets 5,590 6,359 14% of which: Inventories 1,725 1,933 12% Trade receivables 2,877 3,153 10% Restricted cash 12 13 8% Marketable securities, cash, and cash equivalents
Slide 68: Cash flow
Cash flow DKKm FY 2017/18 FY 2018/19 Change EBIT 5,091 5,156 1% Depreciation and amortisation 625 651 4% Change in working capital -422 -291 -31% Net interest payments 23 -187 nm Paid tax -874 -1,185 36% Other -82 213 nm Cash flow from operations 4,361 4,357 0% Investments in intangibles -53 -73 38%
Slide 69: Manufacturing setup
Manufacturing setup Production by country (Volume)¹ 5% Hungary 11% 2% Mørdrup China 1% Minneapolis Tatabánya Sarlat Nyirbátor US/France Mankato Denmark Zhuhai Costa Rica Costa Rica 81% COGS by cost type² 9% Salary - Direct 21% 12% Salary - Indirect Materials (RM &SFG) 8% Innovation & Specialised Pro
Slide 70: Production sites
Production sites Hungary China Tatabánya Zhuhai • Ostomy care products • Continence care products • Adhesives • Ostomy care products • Continence care products • Machine building • Interventional Urology products • Number of employees in production: ~1,050 • Number of employees in production: ~1,800
Slide 71: Production sites
Production sites Denmark US Mørdrup Minneapolis • Pilot development work Ostomy care, • Interventional Urology products Continence care and Wound care • Number of employees in production: ~100 • Adhesives production • Number of employees in production: ~225 France Mankato • Skin care products Sarlat
Slide 72: Contact Investor Relations
Contact Investor Relations Holtedam 1 DK-3050 Humlebæk Denmark Ellen Bjurgert Rasmus Sørensen Vice President, Investor Relations Senior Manager, Investor Relations Tel. direct: +45 4911 3376 Tel. direct: +45 4911 1786 Office: +45 4911 1800 Office: +45 4911 1800 Fax: +45 4911 1555 Fax: +45 4911 1555
Slide 73: Our mission, values and vision
Our mission Making life easier for peoplé with intimate healthcare needs Our values Closeness... to better understand. - Passion... to make a difference Respect and responsibility... to 0 guide | US: Our vision Setting the global standard for listening and responding: Coloplast Group - Ostomy Care /