22nd May 2025 09:37
(Alliance News) - ConvaTec Group PLC on Thursday reported a rise in revenue during the first four months of 2025, and said it remained on track to deliver further growth in the year ahead.
The London-based medical products and technologies company reported revenue growth in the four months that ended April 30 of 5.1%, including organic growth of 6.2%.
Excluding InnovaMatrix, organic revenue growth was 6.7%. InnovaMatrix is the company's wound dressing treatment.
Looking ahead, ConvaTec said it remains on track to deliver an adjusted operating profit margin of between 22.0% and 22.5%, against a 21.2% profit margin in 2024.
Organic revenue growth excluding InnovaMatrix is forecast at between 5.5% and 7.0% for the year, lifted from ConvaTec's prior 5.0% to 7.0% guidance. The company guides for InnovaMatrix revenue of at least USD75 million.
ConvaTec does not expect any material financial impact from US trade tariffs, it said, noting that any incremental costs will be managed within its existing guidance.
"ConvaTec delivered a strong start to the year with continued broad-based organic revenue growth across all our categories. We are on track to deliver our financial targets," said Chief Executive Officer Karim Bitar.
"Our FISBE strategy continued to drive our performance, supported by our strongest-ever innovation pipeline and ongoing simplification and productivity initiatives. We are focused on providing high quality chronic care solutions for customers, patients and healthcare professionals.
"Looking ahead, we are well-positioned to consistently deliver strong revenue growth and double-digit adjusted [earnings per share] growth."
Shares in ConvaTec were up 1.2% at 278.40 pence each in London on Thursday morning. The stock has risen 9.6% over the past year.
By Emily Parsons, Alliance News reporter
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