COLTENE Holding AG · SIX:CLTN
COLTENE — H1 2009 Earnings Presentation
17 slides from COLTENE's earnings presentation, Aug 20, 2009
Slide 1: 2009 Half-year results conference call
2009 Half-year results Conference call August 20, 2009 Respectable performance in difficult 1HY Clear sequential sales increase in Q2 1 Speakers Andreas Meldau, Chief Executive Officer • Market trends, Key developments • Update on Strategy Implementation Dr. Hans Grüter, Chief Financial Officer • Fi
Slide 2: Safe Harbour Statement
Safe Harbour Statement Before we may start with the presentations, we need to remind you that the information made available in this conference call may include forward-looking statements that reflect the intentions, beliefs or current expectations and projections of COLTENE Holding AG about the fut
Slide 3: Competitive Advantage and Key developments 1HY 2009
COLTENE Competitive Advantage In the market place • Stable global end consumer demand for dental consumables • Dental markets largely unaffected by global recession • Targeting both traditional and emerging dental markets • Product offering for comprehensive applications and treatments • Broad geogr
Slide 4: Sales development 1HY 2009
Sales development 1HY 2009 (1/3) Global Dental Market • End consumer demand overall stable in 1HY2009 • Dental consumables market somewhat affected by the economic crisis in Q1, overall flat during Q2 Europe • Very low end-of-quarter sales in March • Stock level reduction in European distribution ne
Slide 5: Sales development 1HY 2009 (3/3)
Sales development 1HY 2009 (3/3) Sales figures supported by: • Comprehensive product offering • Successful new product launches • Expanding geographic reach • Growth drivers of underlying market 9 Content 1. COLTENE – Market update and 1HY Highlights 2. Global Dental Market and COLTENE Positioning 3
Slide 6: Positive Business Environment and Mid-term Growth Drivers
Positive Business Environment Continuous Fragmented Growth Competition Dental Market Recession Large Resistant End-User Base 11 Mid-term Growth Drivers in a Challenging Economy • Increasing dental insurance coverage, globally • Oral health important medical/well-being factor • Higher emphasis on aes
Slide 7: Attractive Global Dental Market; Comprehensive Product Range
Attractive Global Dental Market Annual Growth Rate Focus COLTENE >90% of the business 10% 5% Dental Total Dental Market Consumables 3% CHF 23.9 bn CHF 14.4 bn < 0% growth + _ 0% growth Market Size 13 Comprehensive Product Range Healthy Esthetics Tooth Tooth Tooth Saving Loss Prophylaxis / Hygiene Or
Slide 8: COLTENE Growth Strategy
COLTENE Growth Strategy Innovation Geographic Acquisitions Expansion Partnerships 15 Content 1. COLTENE – Market update and 1HY Highlights 2. Global Dental Market and COLTENE Positioning 3. Strategy Implementation 1HY 2009 4. Financials 1HY 2009 5. Outlook FY 2009 6. Q&A 16
Slide 9: Innovation in Products and Services (1-2/4)
Innovation in Products and Services (1/4) • Innovation is at the heart of COLTENE’s business – As much evolutionary improvement process as revolutionary new applications – Continuous stream of upgrades and new products – Focus to meet customer needs (customer centric) • Solution-oriented – Innovatio
Slide 10: Innovation in Products and Services (3-4/4)
Innovation in Products and Services (3/4) Successful product launches (cont.) • Autoclavable Affinis impression: first material to meet highest hygienic criteria • ParaCore Automix: universal cement now with three indications: – Cementing crowns and bridges – Core build-ups – Post cementation • Syne
Slide 11: Growth – Geographical Expansion
Growth – Geographical Expansion (1/2) • Focus on Emerging Markets – China: New COLTENE subsidiary operates successfully and is being expanded – India: New subsidiary launched in 1HY 2009 – Russia / Eastern Europe: Ongoing sales growth with selected partnerships – Brazil/Latin America: Two-step acqui
Slide 12: Acquisitions and Partnerships
Acquisitions and Partnerships (1/2) Two-step acquisition of Vigodent, Brazil • Former sales partner for Brazil • Perfect business and cultural match • 40% stake to be increased to 100% over next two years • Generating around CHF 11 million sales with 170 employees • Once fully consolidated, most sal
Slide 13: Comprehensive Income (1)
Content 1. COLTENE – Market update and 1HY Highlights 2. Global Dental Market and COLTENE Positioning 3. Strategy Implementation 1HY 2009 4. Financials 1HY 2009 5. Outlook FY 2009 6. Q&A 25 Comprehensive Income (1) 1'000 CHF 1 HY 09 % 1 HY 08 % % YoY Net Sales 69'674 100.0% 81'915 100.0% -14.9% Raw
Slide 14: Comprehensive Income (2) and Cash Flow Statement
Comprehensive Income (2) 1'000 CHF 1 HY 09 % 1 HY 08 % % YoY EBIT 4'536 6.5% 9'516 11.6% -52.3% Financial result (net) 1'157 1.7% -571 -0.7% Net profit before tax 5'693 8.2% 8'945 10.9% -36.4% Tax expenses -1'482 -2.1% -1'959 -2.4% -24.3% Net profit cont. operations 4'211 6.0% 6'986 8.5% -39.7% Prof
Slide 15: Balance Sheet
Balance Sheet 1'000 CHF 30.06.09 31.12.08 Cash & cash equivalents 13'183 11'121 Receivables 40'950 43'090 Inventory 38'190 32'294 Property, plant & equipment 33'825 31'118 Financial, intangible & tax assets 44'843 43'849 Total assets 170'991 161'472 Payables & short term liabilities 19'962 39'543 Ba
Slide 16: Continuing initiatives for 2009 and Outlook 2009
Continuing initiatives for 2009 • Further expand geographic market position – i.e. upon new setup in Brazil • Take advantage of growing private label business • Push newly launched products • Focus on still fast growing implantology market – Partnerships / cooperation with well-known implant compani
Slide 17: Thank you very much for your interest and attention!
Content 1. COLTENE – Market update and 1HY Highlights 2. Global Dental Market and COLTENE Positioning 3. Strategy Implementation 1HY 2009 4. Financials 1HY 2009 5. Outlook FY 2009 6. Q&A 33 Thank you very much for your interest and attention! 34