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Home Industry News Convatec Organic Sales Rose by 5% in 2022

Convatec Organic Sales Rose by 5% in 2022

14th April 2023

Convatec has revealed that the last financial year has been very successful, with a solid 5.6% increase in organic sales, and a consistent level of adjusted operating profit. Over the period, the company has remained focused on their strategic advancement.

Despite the difficult market environment, with rising levels of inflation, Convatec has produced a healthy margin increase, retaining and building on its competitive standing in the market.

Currently, chronic care areas account for over 90% of their sales; they have also joined the lucrative Wound Biologics market and eliminated non-essential Hospital Care and associated sales.

Their product portfolio has been enhanced with three additional offerings- InnovaMatrix®, GentleCath™ Air for Men, and Extended Wear Infusion Sets.

The main segments where they are seeing consistent and sustainable organic growth are Ostomy Care, Continence & Critical Care, Advanced Wound Care, and Infusion Care. Their decision to move into Wound Biologics has secured the company another positive revenue stream.

Overall debt has gone up to $187 million as a result of strategic acquisition decisions, increased spend on growth, and efforts to ensure the durability of the business through inventory expansion.

Convatec anticipates organic sales to continue to rise in 2023 to between 4.5% and 6%.

They are still committed to boosting the operating margin through higher sales, better product and price offerings, streamlining their process and hitting productivity goals.

Even taking macroeconomics into account, Convatec still believes they will see a small increase in the adjusted operating margin this year to just shy of 20%.

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