The year 2022 will be remembered as one of the most challenging years the world has seen in decades. In addition to the COVID-19 pandemic, soaring inflation, disrupted supply chains and rising interest rates have all challenged the global economic outlook.
At Coloplast, we make life easier for people with intimate healthcare needs. This is our mission.
In this challenging year, the company continued to outperform the market and to make progress on the Strive25 strategy. We delivered another year with a solid set of results.
My belief is that effective boardrooms are built on a foundation of collaboration, respect and trust. I also place great emphasis on strong collaboration between the Board and the Executive Leadership Team. This past year, the Board has engaged extensively with management on navigating inflation, COVID-19 in China and the fallout from the war in Ukraine. We have an ongoing dialogue on key strategic topics, including innovation,
digitalisation, sustainability, culture, M&A and successful execution in our key focus markets – the US and China. We must ensure that the decisions taken today support Coloplast’s long-term value creation for all stakeholders – consumers, healthcare professionals, employees, communities and shareholders.
Let me now highlight two key developments from 2021/22.
First, the acquisition of Atos Medical, a company that is a strong fit for Coloplast in all the parameters – mission, strategy and financial performance. Atos Medical is marketleader in the laryngectomy segment, which in many ways resembles Coloplast’s chronic care segments: Ostomy Care and Continence Care – their market leadership position, innovative product portfolio, long-term partnership with healthcare professionals and a consumer focus. Market penetration across geographies is low, and the opportunity to expand coverage to benefit many more patients is significant. Atos Medical is a growth option that supports Coloplast’s longterm growth agenda and value creation.
The acquisition was financed with a corporate bond, issued in May with significant demand.
Second, Sustainability remains on top of the Board’s agenda. I firmly believe that sustainability is a key competitive advantage, and we must ensure that Coloplast stays ahead of the curve. At Coloplast, we have always aspired to act responsibly. As part of Strive25, Sustainability has been elevated to an enterprise theme, backed by significant investments.