Coltene Holding Ag · SIX:CLTN
Coltene — H1 2017 Earnings Presentation
28 slides from Coltene's earnings presentation, Aug 4, 2017
Slide 1: Half-Year Results 2017 – Going Digital
Half-Year Results 2017 Media and Financial Analysts Conference Call Going Digital Martin Schaufelberger – CEO COLTENE Holding AG Gerhard Mahrle – CFO COLTENE Holding AG August 4, 2017 COLTENE – AN INTERNATIONALLY LEADING DEVELOPER, MANUFACTURER AND SELLER OF CONSUMABLES AND SMALL EQUIPMENT FOR DENTA
Slide 2: Safe Harbor Statement
Safe Harbor Statement The information made available in this presentation may include forward- looking statements that reflect intentions, beliefs or current expectations and projections of the COLTENE Group about future results of operations, financial conditions, liquidity, performance and similar
Slide 3: Agenda
AGENDA Highlights H1 2017 Martin Schaufelberger CEO Financials H1 2017 Gerhard Mahrle CFO Going Digital Martin Schaufelberger CEO Outlook Martin Schaufelberger CEO 3
Slide 4: COLTENE – At a Glance
COMPANY PORTRAIT COLTENE – At a Glance COLTENE develops, manufactures and COLTENE is a leading, innovative and markets premium consumables in the dental independent Company, operating segments of Restoration, Endodontics, internationally in the dental industry focusing Prosthetics, Rotary, Infection
Slide 5: Increased Sales and EBIT
H1 2017 HIGHLIGHTS Increased Sales and EBIT Total Sales of CHF 78.0 million in H1 2017; +3.2% compared to H1 2016 2.4% organic growth in CHF and 1.8% in local currencies SALES Sales growth in all regions; Ongoing positive trend in Endodontics EBIT of CHF 9.6 million (H1 2016: CHF 9.0 million); EBIT
Slide 6: Growth in All Regions
NET SALES BY REGION Growth in All Regions in CHF million H1 2015 H1 2016 H1 2017 Latin America 35 32.1 9.9% 30 27.5 Asia +1.2% 13.7% 25 +1.5% 41.2% EMEA 20 2017 H1 CHF 78.0 million 15 10.7 10 7.8 +8.2% 5 +11.8% 35.2% North America 0 EMEA North America Asia Latin America 6
Slide 7: Endodontics Strong
NET SALES BY PRODUCT GROUP Endodontics Strong in CHF million H1 2015 H1 2016 H1 2017 Other Infection 25 Control 5.9% Restoration 20 19.0 Rotary 6.3% 24.3% 16.8 16.0 Instruments -1.2% 8.7% 15 +6.3% +2.5% 10.0 2017 H1 10 6.8 Treatment 12.8% CHF 78.0 million +4.5% 4.9 4.7 Auxiliaries 5 +8.8% +2.1% +4.2
Slide 8: Implementation of Strategic Goals 2016-2018
MANAGEMENT ACTIONS Implementation of Strategic Goals 2016-2018 Expansion of sales teams in core markets and emerging markets SALES & Acquisition of Diatech in the US to unify DIATECH brand management MARKETING Participation at IDS trade fair in Cologne, Germany, to showcase product portfolio Launch
Slide 9: Recently Launched Products
INNOVATION Recently Launched Products BRILLIANT Crios CAD/CAM composite blocs BRILLIANT EverGlow™ for permanent restoration State-of-the-art universal submicron hybrid composite BRILLIANT EverGlow™ Flow State-of-the-art universal submicron hybrid composite HyFlex™ EDM GuttaFlow® bioseal Highly flexi
Slide 10: Financials H1 2017
AGENDA Financials H1 2017 Gerhard Mahrle CFO 10
Slide 11: Higher Free Cash Flow and Solid Balance Sheet
FINANCIAL SUMMARY H1 2017 Higher Free Cash Flow and Solid Balance Sheet Net sales of CHF 78.0 million; +3.2% compared to H1 2016 Increase of 1.8% after factoring out exchange-rate fluctuations (CHF 0.4 million) and SALES acquisitions (CHF 0.6 million) Double digit growth in Latin America; high singl
Slide 12: Higher Sales and EBIT, Lower Net Profit
INCOME STATEMENT Higher Sales and EBIT, Lower Net Profit Comments Net sales increase 3.2%; positive FX in CHF million H1 2017 % H1 2016 % % YoY impact of CHF 0.4 million and CHF 0.6 million from Diatech INC Net Sales 78.013 100.0% 75.599 100.0% 3.2% (acquisition end of March 2017). Material expenses
Slide 13: High Equity Ratio
BALANCE SHEET High Equity Ratio in CHF million 30.06.17 31.12.16 YoY Comments Cash & cash equivalents 10.4 21.6 -11.2 Reduction of cash & cash equivalents in the Receivables 35.5 36.0 -0.5 amount of CHF 11.2 million mainly due to Inventory 31.9 30.8 1.1 the dividend payment of CHF 11.4 million in Ap
Slide 14: Free Cash Flow more than Doubled
CASH FLOW STATEMENT Free Cash Flow more than Doubled in CHF million H1 2017 H1 2016 % YoY Comments Net profit 6.029 7.179 -16.0% Increase of cash flow from operations Depreciation and amortization 2.796 2.758 1.4% of 62% mainly driven by improved NWC management and lower taxes Other non cash items 3
Slide 15: Attractive Share Performance
SHARE PERFORMANCE Attractive Share Performance in CHF COLTENE SPI in CHF Earnings per Share Dividend 110 5.00 100 4.00 90 3.00 80 2.00 70 1.00 60 50 0.00 2012 2013 2014 2015 2016 15
Slide 16: 5-Year Overview of the Key Figures
FINANCIALS OVERVIEW 5-Year Overview of the Key Figures in CHF million in CHF million Net Sales EBIT EBIT Margin in % 80.0 78.0 12.0 15.0% 76.0 75.6 9.6 75.0 9.0 73.3 13.0% 75.0 7.3 7.4 8.0 6.5 12.3% 11.9% 11.0% 70.0 9.7% 9.8% 9.0% 4.0 8.8% 65.0 7.0% 60.0 0.0 5.0% H1 2013 H1 2014 H1 2015 H1 2016 H1 2
Slide 17: Going Digital
AGENDA Going Digital Martin Schaufelberger CEO 17
Slide 18: COLTENE's Triple Approach to Digitalization
GOING DIGITAL COLTENE’s Triple Approach to Digitalization Developing and offering products for digital dental treatment processes in the dental practices Manufacture and sell products in a digital supply chain Working in a digitally supported organization using and benefiting from digital processes
Slide 19: Digitalization Transforming Dentistry
GOING DIGITAL Digitalization Transforming Dentistry Predictive Intelligent sensors combined with analytical tools and vast pools of reference and diagnostic data are creating new pathways Smart for prevention. This will help reduce the risk Digital assistants and robots help dentists of tooth decay,
Slide 20: Outlook & Priorities
AGENDA Outlook & Priorities Martin Schaufelberger CEO 20
Slide 21: Megatrends Create New Growth Opportunities
DENTAL CONSUMABLES MARKETS Megatrends Create New Growth Opportunities Impact EMEA: Western Europe robust; positive signs from Southern Europe + North America: Pressure due to ongoing destocking at distributors +/- MARKETS Asia: Dynamic markets headed by India and China ++ Latin America: Signs of eco
Slide 22: Focus on Exploiting Profitable Growth
OUTLOOK AND PRIORITIES Focus on Exploting Profitable Growth Participation in general market growth in dental consumables of ~2% MARKETS Exploit growth opportunities spurred by megatrends such as digitalization, ageing population, growing middle class and increasing importance of emerging markets Rai
Slide 23: Many thanks for your attention!
Many thanks for your attention! COLTENE – AN INTERNATIONALLY LEADING DEVELOPER, MANUFACTURER AND SELLER OF CONSUMABLES AND SMALL EQUIPMENT FOR DENTAL PRACTITIONERS.
Slide 24: Appendix
APPENDIX 24
Slide 25: Full Spectrum of Dental Care
COMPANY PORTRAIT Full Spectrum of Dental Care Restoration Prosthetics Endodontics The Restoratives product group contains all the In Prosthetics, COLTENE offers a broad range of The Endodontics range is focused on products for products used in restorative treatment procedures. condensation and addit
Slide 26: Global Setup
COMPANY PORTRAIT Global Setup North America Europe Group companies 2 Group companies 10 Production sites 1 GERMANY, Langenau Production sites 2 USA, Cuyahoga Falls (OH) SWITZERLAND, Altstätten Asia Pacific Group companies 3 Production sites 0 Middle East and Africa Group companies 0 Latin America Pr
Slide 27: Highly Experienced Group Management
COMPANY PORTRAIT Highly Experienced Group Management Werner Mannschedel Gerhard Mahrle Christophe Loretan Martin Schaufelberger Werner Barth Vice President R&D and Regulatory Affairs Group CFO Vice President Sales Group CEO Vice President Marketing Since 2015 Since 2014 Since 2015 Since 2012 Since 2
Slide 28: Contacts
CONTACTS COLTENE Holding AG Feldwiesenstrasse 20 9450 Altstätten Switzerland www.coltene.com Martin Schaufelberger Gerhard Mahrle CEO CFO martin.schaufelberger@coltene.com gerhard.mahrle@coltene.com +41 71 757 53 60 +41 71 757 54 37 28