Looks okay to me given the current situation, not giving guidance is a wise move unlike a certain milk company.
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All I know about forecasts is that they are always wrong. It's just a question of how wrong or how much rounding you apply to a forecast to mask inaccuracy. If you know nothing then say nothing, rather than say something which you know will be wrong. But there is a positive in the last quoted sentence from the announcement. It hints at higher volumes and quiet confidence.
Revenue looks far better (-2% )than analysts were predicting(-35%)
Good that consumables were relatively higher than hardware (better margins than hardware?)
https://www.marketscreener.com/quote...30/financials/
Result could be impacted by freight costs
It will be interesting to see the % amount of Research & Development. They have said growing R & D in real terms but how does this compare as % of revenue? Hopefully lower as %.
583 Mil for 4 months means even July was lean after June . But now I think it will pick up again .
Not happy they not got much support from sleep apnea devices slack of Philips recall ...maybe too early .
ResMed is booming because of that ...FPH should have also got some benefit !!
I think the update is very good with only a -2% change in revenue from the extraordinary period last year. Consumables creeping up and huge increase in hardware in the last 18 months will see a steady growth in this for the foreseeable future. Totally understandable that they do not provide an outlook. It is a pretty impossible task for most companies today, FPH more so than most others.
A happy holder.
Don't get your hopes up too much - well, at least not if they are based on this wee outbreak in our small home market. I guess our main problem is that we have been so much slower than any other first world country to vaccinate. However, our government anyway does not invest into hospitals (and neither in early vaccinations) - they prefer to pay wage subsidies. Nothing FPH will gain from.
Europe is opening up at the moment - and hospital admissions stay quite low. Even in the US is it only some backwards looking Republican controlled countries (banning mandated vaccinations and mask wearing) which still have significant problems in their ICU departments ... ok - maybe we can sell some more stuff to Texas and Florida.
Of course we might be able to sell some more stuff to Indonesia, Brazil, Russia or Iran (the current Covid hotspots), but they might not have money to pay. As well - a live is not much worth in these countries, so why buy expensive equipment to conserve it?
FPH has presence in 128 countries now . Though historically their major revenue comes from western world but refreshing aspect as seen in today's update is devices sales booming now in non traditional markets.
Also hospitalisations maybe down from historic levels on last peak but still they are significantly high. USA has currently 70,000 covid cases in hospitals , France 9000 , UK 7000 and so on ...
Overall Covid boost will remain for many years to come maybe from different geographies at different waves !
Also even in poor countries like India , Indonesia and Iran there are some very five star hospitals catering to pretty rich people there . Indian private hospitals have more beds then in a medium sized rich country because of sheer numbers there .
FPH has a regional office in India as they consider it future growth market with very low penetration and enormous scope