Straumann Holding Ag · SIX:STMN
Straumann — Helvea Swiss Equities Conference 2008
25 slides from Straumann's conference presentation, Jan 11, 2008
Slide 1: To be the partner of choice – Straumann
To be the partner of choice – Straumann Gilbert Achermann, CEO Helvea Swiss Equities Conference 11 January 2008, Bad Ragaz 1
Slide 2: Table of contents
Table of contents 1. A snapshot of Straumann 2. Financials 3. Markets and opportunities 4. Innovation, trends and outlook STRAUMANN 2 2
Slide 3: Straumann comprehensive product offering
Straumann comprehensive product offering BU Surgical BU Regenerative BoneCeramic Emdogain Membrane BU Prosthetics synOcta Solid Custom LOCATOR Scanners Precision State of the art abutment abutment & software production ceramics STRAUMANN 3 3
Slide 4: A unique dental partner offering a comprehensive product portfolio
A unique dental partner offering a comprehensive product portfolio Crowns + bridges Abutments Regeneratives Implants Implant-based Conventional STRAUMANN 4 4
Slide 5: Represented in 60+ countries through a broad network of subsidiaries and distributors
Represented in 60+ countries through a broad network of subsidiaries and distributors e Number of own subsidiaries has risen from 12 (1998) to 20 STRAUMANN 5 5
Slide 6: Latest network additions
Latest network additions • Subsidiaries inaugurated in Osaka (July 2007), Seoul (August 2007) and opened local branch office in Budapest (January 2008) • Direct access to customers in Asia’s two largest markets, collectively worth up to CHF 500m1 • With a dentist population of 5000 dentists, Hungary
Slide 7: Worldwide production locations
Worldwide production locations Andover (US): Malmö (S): Leipzig (D): Implant component Regenerative products CAD/CAM milling production e Gräfelfing (D): CAD/CAM milling, scanner production Villeret (CH): Arlington (US): Implant component CAD/CAM milling production STRAUMANN 7 7
Slide 8: A simple clear vision
A simple clear vision To be the partner of choice in implant, restorative and regenerative dentistry STRAUMANN 8 8
Slide 9: Table of contents
Table of contents A snapshot of Straumann Financials Markets and opportunities Innovation, trends and outlook STRAUMANN 9 9
Slide 10: Evidence of opportunity and operational leverage
Evidence of opportunity and operational leverage Key figures, Historical performance Sales & profits CAGR in CHF m 21.6% 600 500 21.4% 400 300 23.6% 200 26.2% 100 0 2002 2003 2004 2005 2006 Sales Gross profit EBIT Net profit STRAUMANN 10 10
Slide 11: Europe and North America largest sales regions
Europe and North America largest sales regions Nine months 2007 - Net revenue by region RoW CHF 15m ⇑ +71.8% growth Asia/Pacific CHF 56m ⇑ +31.5% growth 3% 11% North America CHF 114m 22% ⇑ +13.8% LC growth2 Europe CHF 334m 64% ⇑ +16.7% LC growth Total Net Revenue: CHF 519m ⇑ +16.5 in LC 1 No Biora s
Slide 12: Margins improved at all levels
Margins improved at all levels FY 2006* CHF million H1 2006 H1 2007 EBITDA 108.0 126.6 EBITDA margin in % 35.4 36.0 EBIT 91.4 107.8 EBIT margin in % 29.9 30.7 Net profit Net profit 70.9 94.9 +34% Net profit margin in % 23.2 27.0 Operating Cash Flow 59.5 92.6 Operating Cash Flow +56% STRAUMANN 12 12
Slide 13: Table of contents
Table of contents A snapshot of Straumann Financials Markets and opportunities Innovation, trends and outlook STRAUMANN 13 13
Slide 14: Our substitution technologies
Our substitution technologies Treatment Manufacturing Materials Crowns and bridges Traditional manufacture Metals Collagen membranes Dental implants CAD/CAM prosthetics Ceramics Hydrogel membranes STRAUMANN 14 14
Slide 15: Europe and North America remain core markets for implants
Europe and North America remain core markets for implants 2006 global dental implant market by region CAGR 06-10 in CHF bn 5.4 BRIC +17% 24% 4.7 0.5 7% 4.0 0.4 1.0 17% 3.3 0.3 0.9 19% APAC 2.9 0.2 0.7 1.8 21% 0.2 0.6 1.5 45% 0.5 1.3 1.0 0.9 2.1 13% 29% 1.7 1.9 North 1.3 1.5 America Europe 2006 2007
Slide 16: Straumann in firm number two position globally - number one in Europe
Straumann in firm number two position globally - number one in Europe Dental implant market* 2006 100% = 2.9 CHF bn Others Nobel Biocare 24% 33% 18% 6% Straumann Dentsply 8% 11% Zimmer Biomet / 3i * DE, IT, ES, FR, SE, UK, CH, US, CA, AU, JP, KR, BR, RU, IN, CN; Straumann sales in countries STRAUMAN
Slide 17: CAD/CAM tooth restoration market highly attractive – Straumann with etkon very well positioned
CAD/CAM tooth restoration market highly attractive – Straumann with etkon very well positioned Estimated global market 2005 Crown + bridge prosthetics (USD 3.1 bn) • Up to 25% (USD 600-800 million) of the overall crown and bridge prosthetics market is CAD/CAM based 40% • Ceramics make up 40-75% 75-8
Slide 18: In total CHF >4 bn for Straumann to address
In total CHF >4 bn for Straumann to address - Prosthetics will be major future growth driver Dental implant market CAD/CAM prosthetics market Dental regeneration market 100% = CHF 2.9 bn 100% = CHF 0.9 bn 100% = CHF 0.3 bn Leading Leading Foot-hold 9% share: >75% share: >45% share: <5% 26% 40% 60% 6
Slide 19: Table of contents
Table of contents A snapshot of Straumann Financials Markets and opportunities Innovation and trends STRAUMANN 19 19
Slide 20: Bone-level implant – a key launch to offer implant solutions to all dentists
Bone-level implant – a key launch to offer implant solutions to all dentists Tissue level Bone level • Pioneered by Straumann • >50% of all implants placed • The most successful single system • Microgap at bone level • Microgap vertically offset from bone, respecting • One- and two-stage procedures
Slide 21: A great opportunity for Straumann
A great opportunity for Straumann Dental implant placement at tissue vs. bone level Regional split • Implant choice is driven mainly by user preference 55% 70% 55% • Bone level popularity varies by region • The US is particularly attractive for the 45% 30% 45% Straumann® Bone Level Implant Europe US
Slide 22: The new generation Straumann Bone Level Implant
The new generation Straumann® Bone Level Implant Introducing confidence at bone level Consistent Emergence ProfilesTM • Matching geometries • Soft tissue management SLActive surface • Fast healing • Higher security CrossFitTM Connection • Precise tight fit • Easy handling Bone Control DesignTM • Bon
Slide 23: Confidence based on science
Confidence based on science • 2 pre-clinical studies, very promising results • >1500 implants now clinically documented in pilot-, multi-center-, and non-interventional studies; cases documented for >12 months • >15 clinical studies supporting SLActive surface STRAUMANN 23 23
Slide 24: Straumann tomorrow
Straumann tomorrow Strategic priorities and ambitions • Become a true solution provider in implant, restorative and regenerative dentistry • Differentiate through meaningful innovation and added value • Defend tissue-level segment, gain ground in the bone-level segment, drive CAD/CAM-franchise and l
Slide 25: Questions & answers
Questions & answers Calendar of upcoming events 07 February 2008 Full Year results 2007 28 April 2008 First Quarter revenues 2008 18-20 February 2008 European Road Show 07 August 2008 First Half results 2008 28-29 February 2008 U.S. Road Show 30 October 2008 Nine Month revenues 2008 Detailed calenda