New in:

$SPGI (+0,14%)

$HOOD (+3,28%)

$HIMS (-9,31%)

$AMZN (-1,36%)

$ICE (-0,63%)

Stocked up

$SOFI (+2,03%)

$COLO B (-3,73%)

$MCO (-1,51%)

$SNPS (+2,23%)

$UBER (-1,7%)

And much more

$DB1 (-1,6%)

.....

Sold

$MRK (-4,45%)

$ADBE (-1,29%)

First the new transaction.

$PEP (-2,9%) 2 further shares.

$COLO B (-3,73%) increased by 4 shares and also $KNIN (+1,91%) into the portfolio. In return $HLAG (+0,33%) out soon.

On the actual topic: After I reached my first $SOFI (+2,03%) my first 100% + share, the first 200% share was also reached today with Sofi🎉. Robinhood was close to the 200%, but didn't crack it. Considering that the euro/US dollar exchange rate is now clearly somewhere else, it's considerable either way.

April was another exciting month - time for a little tour of my depot and everything around it:

📊 Performance & figures:

• Monthly performance: +1,12 %
• Annual target: +15 %
• Current IPQ: 118,7
• Hot factor favorite: Ferrari 🏎️
• King Midas Factor: Nexus ✨
• My Robo-Advisor continues to perform strongly with an overall performance of +21,61 %
• And the franc? It currently stands at 1,06 €

💻 Crypto & digital assets:

• In my crypto area there were a few adjustments and partial sales.
• At Timeless I have added the Pattex Philippe Calatrava with a discount coupon.
• NFTs: Currently no new developments.
• Music rights via Globalrockstars: No new shares here either.
• Winery news? No news - all quiet in the cellar 🍷

📈 Individual shares, ETFs & savings plans:

• Some ETF savings plans have been paused, but a new savings plan on Cheesecake Factory
  $CAKE (+0,3%) has been launched.
• Anyone who has been with me for a long time knows my story: I hadn't bought any individual shares for a long time due to additional costs when buying real estate. The buffer has been back since June 2021 - and I'm starting again!
• I'm starting with the "small" stocks from before - not at the same price, but in the same quantity:
• Coloplast$COLO B (-3,73%)
• Amplifon$AMP (+0,47%)
• Aston Martin$A5S
• Ceres Power$CWR (-4,23%)
• Vow$VOW (+1,32%)
• Vita 34 $V3VJ
• 
  These positions also help me to reduce my loss pot to fill up a little again.

📊 Crowdcube investments:

• A few shares in manga.io secured - the nerd in me needed it. 🎌📚

🎴 Pokémon cards:

• I put together small sets from cards I won - and donated them to a school. Giving back a little piece of joy.

✉️ Application & work:

• April was quiet - one week of vacation, 9 days of overtime reduction, so hardly any time in the clinic.
• Unfortunately, it didn't work out with the 50 % position did not work out.

🏦 Interest & podcast:

• Vivid has adjusted the interest rates - from 10k there is now even a gradation of the interest rate, let's see how long I'll be there.
• 
  Podcast Season 3 Episode 1: Financial goals 🎧

🏠 Real estate:

• The 5% special repayment for 2025 have been saved up - transfer will go out next week. One step closer to being debt-free!

🔮 Outlook for May:

• Portfolio focus: I'm continuing to build my ETF and moving more into individual shares.
• Vacation: At the end of May I'm going to Barcelona for the Formula 1 race. I'll make a detour to the burger chain I bought shares in two years ago - let's see how things go there. 🍔🏁

And you? How was your April?

📌 If you don't like my investments - use the block function. 👍 If you celebrate my ideas - please feel free to follow! Thanks for reading - see you in May! 🙌

@InvestmentPapa once again invites you to a challenge.

Despite a bumpy first quarter, the large positions remain in the green.

Today will be a nice quiet week of vacation.

Portfolio update: Equities: last week increase $COLO B (-3,73%) + savings plan on $CAKE (+0,3%) . Timeless: bought another share with a discount code. Pokemon: I was able to put together 10 packs from the cards I won and these have found their place in a children's facility.

Happy holidays to all and thank you @InvestmentPapa for this challenge. At the same time I nominate for this challenge @DonkeyInvestor
@DividendenWaschbaer and @TheRealRapha ❤️

The world's population is getting older and older, an irreversible demographic change with considerable economic consequences.

This article is intended to provide investment ideas and impetus. The stocks mentioned do not, of course, constitute investment advice, but merely serve as examples of potential beneficiaries of demographic change. Historical developments are no guarantee of future returns.

The main source is the short analysis "How to invest as the global population ages" by Goldman Sachs [1], which, however, does not name any specific stocks.

I have also added additional sources and charts.

__________

🌍 Demographic change: growth and ageing of the world's population

The world's population will grow to almost 10 billion people by 2050. But it is not just the number of people that is increasing, their age structure is also changing dramatically. [2]

Increase in the older population:

• The proportion of people aged 60 and over is rising from 8% (1950) to 21.5% (2050).
• In 2050, 2.1 billion people will belong to the over-60 age group.

Source: [2]

Regional differences:

Europe & North America have the oldest populations & remain the most affected demographically.

Latin America, the Caribbean & Asia: The proportion of over-60s will more than double between 2015 and 2050, reaching around 25 %.

Africa remains the youngest region: in 2015, there were 21 countries worldwide with a birth rate of 5 children per woman, 19 of which were in Africa. However, it should be noted that current statistics from 2024 show that the birth rate per woman in Africa was already just 4.07 in 2023 and could fall to 2.79 by 2050. [3]

While industrialized countries are struggling with an ageing society, Africa remains the most dynamic and youngest region in the world. This development can also have an economic impact and open up new investment opportunities. [2]

Goldman Sachs also comments in the article with similar figures, according to which the global population is expected to increase by around 20% by 2050 and senior citizens will make up a disproportionate share. The number of people over the age of 65 is expected to double from 800 million to 1.6 billion during this period. [1]

In view of this demographic development, there are opportunities to benefit from precisely this trend. Opportunities lie in targeted investments in sectors that could benefit from the growing proportion of older people.

🚑 Healthcare: A growing market worth billions

Facts:

• In the USA, people over the age of 65 already account for 36% of healthcare expenditure, although they only make up 18% of the population. Age-related diseases such as cardiovascular disease, diabetes and neurological disorders are driving up costs. [1]
• Alzheimer's cases are even expected to double worldwide by 2050.

Possible profiteers:

Medical technology

• Medtronic ($MDT (-1,96%) ) - (cardiac pacemakers, diabetes technology)
• Stryker ($SYK (-1,43%) ) - (orthopaedic implants, surgical devices)
• Siemens Healthineers ($SHL (-1,48%) ) - (imaging, diagnostics)

Pharmaceuticals

• Novo Nordisk ($NOVO B (+1,84%) ) - (Diabetes & Obesity)
• Eli Lilly ($LLY (-2,67%) ) - (Alzheimer's, Diabetes)
• Roche ($ROG (-1,89%) ) - (Oncology, Diagnostics)

🏡 Senior Living & Care: Bottlenecks in nursing homes worldwide

Facts:

The UK has a shortfall of over 30,000 senior units by 2028. [1]

In Germany, France and Italy there is a shortage of nursing home places due to the ageing population. [1]

In the US, only 2% of people over 65 live in nursing homes, leading to an increasing demand for home care and telemedicine. [1]

Potential beneficiaries:

Care providers

• Brookdale Senior Living ($BKD (+1,1%) ) - (senior living, care facilities)

Homecare

• ResMed ($RMD (+0,76%) ) - (sleep apnea, ventilators)
• Fresenius Medical Care ($FME (-2,04%) ) - (dialysis, home therapy)
• Coloplast ($COLO B (-3,73%) ) - (ostomy care, incontinence products)

Telemedicine

• Teladoc Health ($TDOC (-1,18%) ) - (virtual doctor visits, digital health solutions)
• Hims & Hers ($HIMS (-9,31%) ) - (telemedicine & e-health)

Anti-Aging

• L'Oréal ($OR (-1,56%) ) - (skin care, cosmetics)
• Estee Lauder ($EL (-1,54%) ) - (luxury cosmetics, skin rejuvenation)
• Revance Therapeutics ($RVNC ) - (Botox alternative, wrinkle treatment)

🚢 Leisure & consumption: The new "silver economy"

The following chart shows the distribution of wealth in Germany depending on the age of the main income earner. [4]

It is clear that older people tend to have higher wealth than younger age groups. This is reflected in the significantly higher values for the percentiles for age groups aged 50 and over. In particular, the groups aged between 50 and 74 have the highest assets.

The trends are also similar internationally:

• The wealth of older people is 3x that of millennials.
• Over-60s control more than 50% of consumer spending in many developed countries.
• The global silver economy could reach a volume of USD 15 trillion by 2030 (Oxford Economics).

This observation underlines the economic importance of the older generations and their central role in wealth distribution and consumer spending.

Possible beneficiaries:

Luxury

• LVMH ($MC (-0,58%) ) - (fashion, jewelry, wine & spirits)
• Hermès ($RMS (+1,07%) ) - (Exclusive Fashion & Accessories)
• Richemont ($CFR (+0,93%) ) - (Swiss luxury watches & jewelry)

Cruise (Over 60s book a third of all cruises worldwide [1])

• Royal Caribbean ($RCL (-0,64%) ) - (Cruises for seniors & families)
• Carnival ($CCL (-3,62%) ) - (mass market cruises)
• Norwegian Cruise Line ($NCLH (-2,69%) ) - (premium cruises)

Motorhome manufacturers/ recreational vehicles (47% of motorhome users are over 55 years old, In the UK, two thirds of over 55s have a motorcycle license, which may indicate a growing market for motorcycles and accessories. [1])

• Thor Industries ($THO (-0,52%) ) - (motorhomes, campers)
• Winnebago ($WGO (-2,66%) ) - (motorhomes & caravans)
• Harley-Davidson ($HOG (-2,54%) ) - (motorcycles and entry-level electric motorcycles)

🤖 Technology & automation: solution to the labor shortage

Facts:

The labor shortage caused by an aging society is becoming a global challenge. Automation, AI and robotics could help close the skills gap. [1]

Profiteers:

• ABB ($ABBNY (+2,46%) ) - (industrial robotics, automation)
• Fanuc ($6954 (-0,71%) ) - (robotics, factory automation)
• Intuitive Surgical ($ISRG (+0,02%) ) - (robot-assisted surgery)
• Siemens ($SIE (+1,91%) )- (automation & also medical technology)

🧠 Conclusion:

Demographic change offers long-term investment opportunities. Early investment in the right sectors can benefit from rising spending on health, care, leisure and technology.

I myself am still looking for one or two individual investments and am a little annoyed that I didn't get into Hims & Hers earlier, although I have been on the verge of doing so several times. Apart from the luxury segment with LVMH, the portfolio also includes Siemens as a conglomerate in the field of automation.

Do you explicitly take demographic change into account in your investments, e.g. in the form of individual shares?

Which shares do you have in your portfolio or do you still see them as an opportunity?

Thanks for reading!

_________

Sources:

[1] https://www.goldmansachs.com/insights/articles/how-to-invest-as-the-global-population-ages

[2] https://www.bpb.de/kurz-knapp/zahlen-und-fakten/globalisierung/52811/demografischer-wandel/

[3] https://de.statista.com/statistik/daten/studie/1343516/umfrage/entwicklung-der-fertilitaetsrate-in-afrika/

[4]

https://www.iwd.de/artikel/mit-dem-alter-waechst-das-vermoegen-489710/

$NU (-0,68%) 10.1€ circa

$VER (-0,73%) 68,95€ circa

$COLO B (-3,73%) 106..... and thus the 4 Danish value.

Coloplast Q3 2024 $COLO B (-3,73%)

Financial Performance

Coloplast achieved a revenue increase of 10% to DKK 27,030 million in the financial year 2023/24, driven by organic growth of 8% and an additional increase of 4% from the acquisition of Kerecis. EBIT before exceptional items increased by 6% to DKK 7,286 million, with a slight decrease in the EBIT margin from 28% to 27% due to dilution effects from the Kerecis acquisition and exchange rate fluctuations.

Balance sheet summary

Total assets remained stable at DKK 48.073 million as at September 30, 2024. Equity increased by 4% to DKK 17,942 million, while net interest-bearing liabilities increased to DKK 21,841 million, mainly due to financing activities in connection with acquisitions.

Details of the income statement

Gross profit increased to DKK 18,269 million, with an improved gross margin of 68% compared to 67% in the previous year, supported by favorable input costs and the contribution from Kerecis. Operating costs increased by 16% to DKK 10,983 million, impacted by the Kerecis acquisition and one-off costs.

Cash flow overview

Free cash flow amounted to DKK 1,430 million, a significant improvement compared to the outflow of DKK 4,731 million in the previous year, despite a one-off tax payment in connection with the transfer of Atos Medical's intellectual property. Cash flows from operating activities amounted to DKK 2,766 million, a decrease compared to DKK 4,226 million due to higher tax payments.

Key figures and profitability ratios

ROIC after tax before exceptional items amounted to 15%, a decrease compared to 17% in the previous year, influenced by the acquisition of Kerecis. The debt ratio was 2.5x EBITDA.

Segment information

The Chronic Care division, including ostomy and incontinence care, recorded strong growth, with incontinence care increasing by 10%. Speech and respiratory care grew by 12 %, advanced wound care by 10 % and interventional urology by 7 %.

Competitive position

Coloplast continuously strengthens its market position through strategic acquisitions such as Kerecis, which are designed to promote long-term growth and profitability. The company uses its scalable infrastructure to further expand the growth potential of Kerecis.

Forecasts and management comments

For the financial year 2024/25, Coloplast expects organic growth of 8-9% and an EBIT margin before special items of around 28%. Management sees further growth potential in the Chronic Care division and continued contributions from Kerecis.

Risks and opportunities

Exchange rate fluctuations and integration costs due to acquisitions represent risks, while opportunities lie in the expansion of market share and the launch of new products such as the Luja™ catheter.

Summary of the results

Coloplast delivered a solid financial performance in financial year 2023/24 with strong sales growth, with strategic acquisitions further strengthening its competitive position. Despite challenges from exchange rate fluctuations and acquisition-related costs, the outlook for the coming financial year remains positive, with a focus on organic growth and efficiency improvements.

Positive aspects:

• Sales growthColoplast recorded strong revenue growth of 10% in the financial year 2023/24, totaling DKK 27,030 million. This growth was mainly driven by organic growth of 8% and an additional contribution of 4% from the acquisition of Kerecis.
• Improvement in gross marginGross profit increased to DKK 18,269 million, which increased the gross margin to 68% (compared to 67% in the previous year). This improvement is due to favorable cost developments in raw materials and the integration of Kerecis.
• Free cash flowColoplast achieved a remarkable turnaround in free cash flow, generating an inflow of DKK 1,430 million compared to an outflow of DKK 4,731 million in the previous year, despite an exceptional tax payment.
• Segment performanceThe various segments recorded strong growth. Significant growth was achieved in Chronic Care, particularly in ostomy and incontinence care, with incontinence care increasing by 10%. In addition, Speech and Respiratory Care grew by 12% and Advanced Wound Care also recorded growth of 10%.
• Strategic acquisitionsThe acquisition of Kerecis is expected to promote the long-term growth and profitability of Coloplast and further strengthen the company's market position.

Negative aspects:

• Rising operating costsOperating costs increased by 16% to DKK 10.983 million, influenced by the acquisition of Kerecis and additional costs related to the establishment of a new distribution center in the US.
• Exchange rate effectsEBIT margin was negatively impacted by exchange rate fluctuations, in particular the depreciation of the US dollar and a number of emerging market currencies against the DKK.
• Decrease in ROICROIC after tax before exceptional items fell to 15%, compared with 17% in the previous year, due to the acquisition of Kerecis.
• Increase in interest-bearing net debtNet interest-bearing debt increased to DKK 21,841 million, mainly due to financing activities in connection with acquisitions, which increased the debt ratio to 2.5 times EBITDA.
• Cash flow from operating activitiesCash flow from operating activities decreased to DKK 2,766 million compared to DKK 4,226 million in the previous year due to higher tax payments.

Companies that I find interesting but do not yet have in my portfolio and that have a 10-year average ROIC of over 10% and a 5-year average ROCE and ROIC of over 10%, $ANET, $MA (-2,8%) , $VRTX (-2,27%) , $RMS (+1,07%) , $PGHN (-0,23%) , $COLO B (-3,73%) , $ACN (-2,22%) , $MNST (-1,53%)
$FICO (-1,39%) , $MCO (-1,51%) , $KNIN (+1,91%) , $S&P Global, $ISRG (+0,02%)
$III (-2,53%) , $BKNG (-5,72%)
$HLAG (+0,33%) , $QCOM (+0,4%) , $CFR (+0,93%) and $IFX (-0,76%) . Already blatant companies