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Convatec Group Plc (CNVVF) CEO Karim Bitar on Q4 2020 Results - Earnings Call Transcript

Mar. 05, 2021 1:10 PM ETConvaTec Group PLC (CNVVF), CNVVY
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Convatec Group Plc (OTCPK:CNVVF) Q4 2020 Earnings Conference Call March 5, 2021 4:00 AM ET

Company Participants

Karim Bitar - Chief Executive Officer

Frank Schulkes - Chief Financial Officer

Conference Call Participants

Patrick Wood - Bank of America

Amy Walker - Peel Hunt

Veronika Dubajova - Goldman Sachs

Hassan Al-Wakeel - Barclays

Michael Jungling - Morgan Stanley

Paul Cuddon - Numis

Kit Lee - Jefferies

Ed Ridley-Day - Redburn

David Adlington - JPMorgan

Christian Glennie - Stifel

Karim Bitar

Good morning. It's a real pleasure to be with all of you today and delighted that we'll have a chance today to review the significant progress we've made at ConvaTec both from a financial perspective and a strategic perspective.

I'd like to share with you three observations. First, with the backdrop of COVID-19, we really were able to deliver for our customers in a reliable manner and a consistent manner.

From a financial perspective, we delivered a solid financial performance. And from a strategic vantage point, we're very much on track in driving and delivering on our strategic transformation.

At this point, what I'd like to do is to pass the baton on to Frank for us to go ahead and review the financial performance of 2020.

Frank Schulkes

Thanks, Karim and good morning. Thank you for joining us today. So let me take you through our financial results in more detail.

Starting with our highlights on slide 4. We delivered a solid financial performance in 2020 during a year of continued investments and against a highly unexpected backdrop. Group revenue was almost $1.9 billion increasing 3.7% on a reported basis or 4% on a constant currency basis. This was ahead of our October guidance, principally driven by higher-than-anticipated demand in Critical Care during the second wave of the pandemic.


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