Convatec backs guidance as revenue rises in 'good start to the year'
Convatec Group PLC on Thursday said it was on track to deliver 2026 guidance after a ‘good start to the year’.
Ahead of Thursday’s annual general meeting, the London-based medical products and technologies provider said organic revenue growth excluding InnovaMatrix was 4.8% in the four months to the end of April.
Including wound care treatment InnovaMatrix, revenue was up 1.6%, or 5.5% on a reported basis.
The company said InnovaMatrix will represent an around 3% revenue headwind in the first half and a 2% headwind in the full year.
The firm reported ‘broad-based growth across categories’ with product launches ‘performing well and gaining share’.
Convatec said it is on track to deliver between 5% and 7% organic revenue growth ex-InnovaMatrix in 2026.
As previously guided, it expects growth to increase in the second half, due to customer order phasing and as product launches build.
Convatec left its 2026 guidance and medium-term financial targets unchanged. For 2026, it forecasts an adjusted operating profit margin of at least 23% in 2026, with double-digit growth in adjusted earnings per share.
In the medium-term, it sees between 6% and 8% organic revenue growth from 2027, with double-digit adjusted EPS growth and reaching an adjusted operating margin in the mid-twenties by 2027.
‘Convatec delivered a good start to 2026 and we are on track to deliver 2026 guidance. We saw further broad-based growth across our chronic care categories, as new product launches continued to gain share,’ said Chief Executive Officer Jonny Mason.
‘Our Accelerate strategy, announced last month, represents the next exciting chapter of Convatec’s growth story. Accelerate will see further improvements in execution to deliver innovative chronic care solutions to more people around the world.’
Shares in Convatec were down 4.1% at 205.40 pence on Thursday morning in London.
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