Convatec Group (CTEC)

Sector:

Health Care

Index:

FTSE 100

286.40p
   
  • Change Today:
    -2.80p
  • 52 Week High: 290.20p
  • 52 Week Low: 196.20p
  • Currency: UK Pounds
  • Shares Issued: 2,049.79m
  • Volume: 5,406,756
  • Market Cap: £5,871m
  • RiskGrade: 96

Convatec posts 'good' full-year topline growth

By Alexander Bueso

Date: Thursday 09 Mar 2023

LONDON (ShareCast) - (Sharecast News) - Convatec posted "good" top-line growth and higher margins for 2022.
For the year ended on 31 December, the company reported a 6.9% rise in adjusted revenues to reach $2.07bn at constant currencies.

In parallel, and on the same basis, the medical products and technologies company said that its operating margins widened from 17.7% during the year before to 19.5%.

"Over the course of the year, we continued to make progress with our FISBE strategy, launching three new products and improving our competitive positions. The resulting financial performance is further proof that Convatec is pivoting to sustainable and profitable growth," said Convatec's boss, Karim Bitar.

"We remain focused on executing our FISBE 2.0 strategy and are confident in Convatec's growth prospects and ability to increase its operating margin to the mid-20s over the medium term."

On a reported basis, total sales were ahead by only 1.7% due to foreign exchange headwinds but 5.6% higher on an organic basis.

The company's diluted earnings per share did fall by 46.6% to 3.1 US cents on a reported basis, due to a significant increase in the effective book tax rate from 15.0% to 23.9%, Convatec explained.

In adjusted terms, diluted EPS was down 3.1% at 12.6 US cents.

Net debt increased to $187m on higher capital expenditures to support future growth and a rise in inventories to improve "resilience".

That saw leverage increase to 2.1 times operating profits versus 1.9 times in 2021.

A final dividend of 4.33 US cents was proposed by the board, taking the full-year payout to 6.047 US cents.

As of 0907 GMT, shares of Convatec were slipping by 2.23% to 219.40p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CTEC Market Data

Currency UK Pounds
Share Price 286.40p
Change Today -2.80p
% Change -0.97 %
52 Week High 290.20p
52 Week Low 196.20p
Volume 5,406,756
Shares Issued 2,049.79m
Market Cap £5,871m
RiskGrade 96

CTEC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
98.41% below the market average98.41% below the market average98.41% below the market average98.41% below the market average98.41% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
88.23% above the market average88.23% above the market average88.23% above the market average88.23% above the market average88.23% above the market average
89.19% above the sector average89.19% above the sector average89.19% above the sector average89.19% above the sector average89.19% above the sector average
Income
90.92% below the market average90.92% below the market average90.92% below the market average90.92% below the market average90.92% below the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Growth
36.5% below the market average36.5% below the market average36.5% below the market average36.5% below the market average36.5% below the market average
38.89% below the sector average38.89% below the sector average38.89% below the sector average38.89% below the sector average38.89% below the sector average

What The Brokers Say

Strong Buy 6
Buy 8
Neutral 5
Sell 0
Strong Sell 0
Total 19
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CTEC Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 17-Aug-23
Paid 23-May-24 28-Sep-23
Amount 4.46¢ 1.77¢

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 2,734,877 @ 286.40p
16:35 4,536 @ 286.40p
16:35 3,614 @ 286.40p
16:35 1,882 @ 286.40p
16:35 1,998 @ 286.40p

CTEC Key Personnel

CEO Karim Bitar
Chair John McAdam
CFO Jonny Mason

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