Cochlear Limited · ASX:COH
Cochlear — Shareholder Meeting (October 2014)
29 slides from Cochlear's shareholder meeting presentation, Oct 14, 2014
Slide 1: 2014 Annual General Meeting
14/10/2014 Cochlear Limited For personal use only 2014 Annual General Meeting Tuesday 14th October 2014 Exchange Square Auditorium Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 Video 1
Slide 2: Mr Rick Holliday-Smith – Chairman
14/10/2014 Cochlear Limited For personal use only 2014 Annual General Meeting Tuesday 14th October 2014 Exchange Square Auditorium Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 Mr Rick Holliday-Smith – Chairman 2
Slide 3: Company Secretary and Chief Executive Officer
14/10/2014 Mr Neville Mitchell – Company Secretary For personal use only Dr Chris Roberts – Chief Executive Officer/ President 3
Slide 4: Directors: Professor Ed Byrne and Mrs Yasmin Allen
14/10/2014 Professor Ed Byrne, AC – Director For personal use only Mrs Yasmin Allen – Director 4
Slide 5: Directors: Mr Paul Bell and Mr Donal O’Dwyer
14/10/2014 Mr Paul Bell – Director For personal use only Mr Donal O’Dwyer – Director 5
Slide 6: Mr Andy Denver – Director
14/10/2014 Mr Andy Denver – Director For personal use only 6
Slide 7: Chairman’s Address – Retirement of Mr Paul Bell
14/10/2014 Chairman’s Address For personal use only Rick Holliday-Smith Cochlear Annual General Meeting 2014 Retirement of Mr Paul Bell 7
Slide 8: Chairman’s Address
14/10/2014 Chairman’s Address For personal use only Rick Holliday-Smith Cochlear Annual General Meeting 2014 8
Slide 9: CEO’s Address: Cochlear overview
14/10/2014 CEO’s Address For personal use only Chris Roberts Cochlear Annual General Meeting 2014 Cochlear overview Cochlear Limited (ASX:COH) is the global leader in implantable hearing devices: • Cochlear/Hybrid implants • Bone conduction implants • Acoustic implants • Large unmet clinical need fo
Slide 10: Hearing Awareness Week: Hearing loss, a major public health problem
14/10/2014 Hearing Awareness Week For personal use only Claudia Worland with The Honourable Tony Abbott MP Prime Minister of Australia Hearing loss: A major public health problem Highly prevalent with profound consequences But…complexities Interventions work well 10
Slide 11: What we need to do; F14 Innovations
14/10/2014 What we need to do For personal use only Improve Broaden Outcomes Indications Increase Patient Access F14 Innovations include Nucleus Profile Implant Nucleus® 6 Sound Processor Improve Broaden Outcomes Indications True Wireless Accessories Increase Patient Access Aqua+ Accessory Baha 4 So
Slide 12: F14 Innovations include
14/10/2014 F14 Innovations include For personal use only Hybrid™ Hearing Hybrid L Electrode Improve Broaden Outcomes Indications Baha® 4 Attract MET® Implant Increase Patient Access Codacs™ Implant Carina® Implant Single-Sided Deafness F14 Innovations include Improve Broaden Outcomes Indications Inc
Slide 13: Cochlear Nucleus; Bone Conduction and Acoustic Implants
14/10/2014 Cochlear Nucleus 6 For personal use only • SmartSound® iQ • Smallest processor • Data logging • Waterproof with Aqua+ accessory • Hybrid hearing • Wireless ready Bone Conduction and Acoustic Implants • Baha 4 Sound Processor: automatic scanning and true wireless connectivity • Baha 4 Attr
Slide 14: Cochlear: Financial Results for F14
14/10/2014 Cochlear: Financial Results for F14 For personal use only H1F14 H2F14 F14 $m $m $m Cochlear implant sales 331.1 389.7 720.8 Bone Conduction/Acoustic sales 45.9 54.2 100.1 Sales Revenue 377.0 443.9 820.9 FX Contracts Gains (5.9) (10.1) (16.0) Total Revenue 371.1 433.8 804.9 EBIT* 26.9* 100
Slide 15: Cochlear Implant Unit Sales; Bone Conduction/Acoustic Sales
14/10/2014 Cochlear: Cochlear Implant (CI) Unit Sales For personal use only • F14 CI unit sales of 25,997 was ↓3% on F13 • H2 F14 CI unit sales of 14,285 was ↑22% on H1 F14 and ↑10% on pcp (record unit sales for half) • Nucleus Profile (thinnest implant) released in Europe (June) and several APAC co
Slide 16: F14 Regional Split of Sales
14/10/2014 Cochlear: F14 Regional Split of Sales For personal use only EMEA1: 44% Americas: 39% H2 CC2 growth Ç17% H2 CC growth Ç16% Asia Pacific: 17% H2 CC growth Ç13% 1 EMEA is Europe, Middle East and Africa 2 CC is constant currency and the comparison is to PCP True wireless No strings attached •
Slide 17: Cochlear Summary
14/10/2014 Cochlear Summary For personal use only • Cochlear: global leader in implantable hearing solutions • Large unmet clinical need with implant rate less than incidence • Sales momentum demonstrated in H2 F14 from release of new products • Opportunities from: - Ongoing product roll-out globall
Slide 18: Our Promise
14/10/2014 Our Promise For personal use only 18
Slide 19: Business of the Meeting: Resolution 1.1
14/10/2014 Cochlear Limited For personal use only 2014 Annual General Meeting Business of the Meeting Resolution No. 1.1 Financial and other reports To receive and consider the Company’s Financial Report, Directors’ Report and Auditor’s Report in respect of the financial year ended 30 June 2014 (F14
Slide 20: Resolution 1.1 Results; Resolution 2.1 Remuneration Report
14/10/2014 Resolution No. 1.1 For personal use only Financial and other reports This resolution will be decided on a poll For Against Open Direct Votes 3.00% 0.06% - 1,094,344 22,955 Proxy Votes 95.91% 0.01% 1.02% 34,954,752 3,798 370,909 Total 98.91% 0.07% 1.02% 36,049,096 26,753 370,909 Resolution
Slide 21: Resolution 2.1 Results; Resolutions 3.1 and 3.2
14/10/2014 Resolution No. 2.1 For personal use only Remuneration Report This resolution will be decided on a poll For Against Open Direct Votes 1.00% 0.63% - 360,376 226,285 Proxy Votes 96.18% 1.18% 1.01% 34,763,128 426,533 365,525 Total 97.18% 1.81% 1.01% 35,123,504 652,818 365,525 Resolutions 3.1
Slide 22: Resolution 3.1 Re-election of Mr Roderic Holliday-Smith
14/10/2014 Resolution No. 3.1 For personal use only Re-election of directors 3.1 “THAT Mr Roderic Holliday- Smith, being a director who is retiring by rotation in accordance with the Company’s Constitution and who, being eligible, offers himself for re-election as a director of the Company, be re-el
Slide 23: Resolutions 3.1 and 3.2 Re-election of directors
14/10/2014 Resolutions 3.1 and 3.2 For personal use only Re-election of directors To consider and, if thought fit, to pass the following resolutions as ordinary resolutions: Resolution No. 3.2 Re-election of directors 3.1 “THAT Mr Andrew Denver, being a director who is retiring by rotation in accord
Slide 24: Resolution 3.2 Results; Resolution 4.1 CEO incentive plan
14/10/2014 Resolution No. 3.2 For personal use only Re-election of directors – Mr Andrew Denver This resolution will be decided on a poll For Against Open Direct Votes 2.89% 0.11% - 1,062,696 40,037 Proxy Votes 94.92% 1.07% 1.01% 34,894,771 392,698 370,842 Total 97.81% 1.18% 1.01% 35,957,467 432,735
Slide 25: Resolution 4.1, continued
14/10/2014 Resolution No. 4.1, continued For personal use only Approval of issue, allocation or transfer of securities to the CEO/President under the Cochlear Executive Incentive Plan (CEIP) 4.1 “THAT approval be given to: b) Deferred short-term incentive award under the CEIP (CEIP STI Deferral) The
Slide 26: Resolution 5.1 Retirement allowance for Professor Byrne
14/10/2014 Resolution No. 5.1 For personal use only Approval of future retirement allowance payment to Professor Edward Byrne, AC To consider and, if thought fit, to pass the following resolution as an ordinary resolution: 5.1 “THAT approval is given for the purposes of sections 200B and 200E, of th
Slide 27: Resolution 6.1 Increase to non-executive director remuneration
14/10/2014 Resolution No. 6.1 For personal use only Approval of temporary increase to the maximum aggregate remuneration of non-executive directors To consider and, if thought fit, to pass the following resolution as an ordinary resolution: 6.1 “THAT the aggregate maximum sum available for remunerat
Slide 28: Collection of Poll Cards; Close of Meeting
14/10/2014 For personal use only Collection of Poll Cards Please complete and submit your poll card Close of Meeting 28
Slide 29: For personal use only
For personal use only 29 14/10/2014