ConvaTec Group PLC

ConvaTec Group reaffirmed its 2026 financial targets after reporting 5% organic revenue growth in the first half, excluding its InnovaMatrix skin-substitute product. The company posted a 21.2% operating margin and 6% adjusted earnings per share growth, while raising its interim dividend by 15% and launching a £200 million share buyback. InnovaMatrix sales fell to £2.5 million, prompting a £69 million non-cash impairment charge and a reduction in full-year revenue expectations to £5 million to £10 million, though management expects the product to approach breakeven in the second half. Growth was broad-based across all four chronic-care categories, with Infusion Care leading at 7.4% organic growth, and the company expects stronger second-half performance, particularly in Infusion Care. ConvaTec is investing about $90 million in growth capital expenditures in 2026, primarily to expand Infusion Care capacity and support its product pipeline.