ConvaTec Group Plc (CTEC) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

So quiet, but I got some smiles, which is good. Hi, Monita. Nice to see you. She's like, why is he calling me out? Anyway, look, it's a real pleasure to be with you here this morning, and I'd like to welcome you to Convitec's first half 2024 results review. Well, what we'll be doing today, both Johnny and I, is reviewing both our financial performance and the strategic progress we've made. We're very pleased with the financial performance and the strategic progress we've made. And what I thought we could do now was to really spend some time to understand what are the five key overarching messages or thoughts we want to leave you with today. The first one is that in the first half of the year, we went ahead and delivered strong, broad-based organic revenue growth. In addition, we're very much on track to go ahead and expand our operating profit margin. and we're growing our earnings and our free cash flow. So clearly a strong financial result. When you then combine that from a strategic vantage point, we've gone ahead and strengthened our competitive position and our new product launches are doing very well in the marketplace. When you sum that all up, we're confirming to you 2024 guidance and our medium-term guidance. That's in essence what we want to share with you today. But let's look at some data. Let's look at some numbers to understand how has Convitec been performing during the course of the last five years. What you can see is that from a organic revenue perspective, there's been a clear acceleration in organic revenue growth. We've been executing a lot better across the entire value chain, R&D, operations, commercial. And we're very much on track to go ahead and once again deliver 5% to 7% organic revenue growth. And we anticipate and expect to be at the upp...