ConvaTec Group Plc. (CNVVY) reported that its preliminary profit before income taxes for the year ended 31 December 2024 increased to $245.9 million from $167.4 million in the previous year.
Annual net profit was $190.5 million or 9.3 cents per share, higher than prior year's $130.3 million or 6.3 cents per share.
Annual revenue grew to $2.289 billion from $2.142 billion last year.
The company maintained strong confidence in fiscal year 2025 outlook, reiterating its guidance for double-digit adjusted earnings per share growth. It continues to anticipates 5-7% organic growth in non-InnovaMatrix 3 revenues, which accounted for 96% of Group revenue in fiscal year 2024.
The company said it is on track to deliver medium-term guidance. It is well-positioned to achieve sustainable 5%-7% annual organic revenue growth, supported by expanding new product pipeline and enhanced commercial execution. It is also on track to reach an adjusted operating profit margin in the mid-20% range by 2026 or 2027.
Karim Bitar, Chief Executive Officer, said, "We expect FY25 to be another year of strong strategic progress."
The Board declared an interim dividend of 1.822 cents per share in July 2024 and has recommended a final 2024 dividend of 4.594 cents per share. This would bring the full-year dividend to 6.416 cents per share, compared to 6.229 cents per share in 2023.
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