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Convatec Contact Us Argentina Argentina Belize Belize Brasil Brasil Canada (English) Canada (English) Canada (Français) Canada (Français) Chile Chile Colombia Colombia Costa Rica Costa Rica Curaçao Curaçao El Salvador El Salvador Ecuador Ecuador Guatemala Guatemala Guyana Guyana Honduras Honduras Jamaica Jamaica México México Nicaragua Nicaragua Panamá Panamá Perú Perú Puerto Rico Puerto Rico República Dominicana República Dominicana Suriname Suriname Venezuela Venezuela United States (English) United States (English) België België Bosna i Hercegovina Bosna i Hercegovina Česko Česko Danmark Danmark Deutschland Deutschland Eesti Eesti España España France France Hrvatska Hrvatska Ireland Ireland Ísland Ísland Italia Italia Latvija Latvija Lietuva Lietuva Magyarország Magyarország Malta Malta Nederland Nederland Norge Norge Polska Polska Portugal Portugal România România Schweiz (Deutsch) Schweiz (Deutsch) Suisse (Français) Suisse (Français) Slovenija Slovenija Slovensko Slovensko Srbija Srbija Suomi Suomi Sverige Sverige Türkiye Türkiye United Kingdom United Kingdom Österreich Österreich Ελλάδα Ελλάδα България България Македонија Македонија Россия Россия Україна Україна South-Africa South-Africa ישראל ישראל الأردن الأردن الإمارات العربية المتحدة الإمارات العربية المتحدة البحرين البحرين المملكة العربية السعودية المملكة العربية السعودية ایران ایران پاکستان پاکستان عُمان عُمان قطر قطر لبنان لبنان مصر مصر العراق العراق الكويت الكويت Australia Australia Hong Kong SAR Hong Kong SAR 中国香港 中国香港 India India Indonesia Indonesia Malaysia Malaysia New Zealand New Zealand Philippines Philippines Singapore Singapore Việt Nam Việt Nam ไทย ไทย 대한민국 대한민국 中国 中国 中国台湾 中国台湾 日本 日本

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Convatec Group Plc (“the Group” or “Convatec”) is today providing an update on trading in the third quarter and revising guidance for full year expectations for both organic revenue growth and adjusted EBIT margin. 

The revised guidance is driven primarily by a change in inventory policy by the biggest customer in our Infusion Devices franchise, which is expected to have a material negative impact on revenue in the fourth quarter of between $18 – $23 million, and to a lesser extent challenging market dynamics in specific markets in Advanced Wound Care.

Therefore, the Group now expects full year organic revenue growth to be flat to 1.0%1, from 2.5% to 3.0%1 previously. As a result of this reduction in revenue expectations and consequent adverse mix impacts, guidance for adjusted EBIT margin in FY 2018 has also been revised down to 23% - 24%, from 24% - 25%.

As separately announced today, Paul Moraviec has informed the Board that he wishes to retire. He will step down as Chief Executive Officer and cease to be a Director with immediate effect. The Board has asked Rick Anderson, currently a Non-Executive Director of Convatec, to assume the position of Interim Chief Executive Officer.

The Board continues to have confidence in the fundamentals of the business and its future potential. Our cost out plans are under development and the Group will provide an update on these with the FY 2018 results in February 2019.

 

 

Download the full text of this announcement and the presentation for the Analysts and Investors meeting

 

 

Enquiries

 
Analysts and Investors 
                                                                                                                     

investorrelations@convatec.com

John Crosse, VP Investor Relations

+44 (0)7500 141435

Kirsty Law, Director Investor Relations     

+44 (0)7470 909582


Media


mediarelations@convatec.com

Bobby Leach, VP Group Corporate Affairs                      

+44 (0)7770 842226

Finsbury

+44 (0)207 2513801

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