Coltene Holding Ag · SIX:CLTN
Coltene — H1 2014 Earnings Presentation
24 slides from Coltene's earnings presentation, Aug 7, 2014
Slide 1: Half-year Results 2014 Media and Financial Analysts Conference Call
Half-year Results 2014 Media and Financial Analysts Conference Call Altstätten, August 7, 2014 1
Slide 2: Content
Content Highlights H1 2014 Martin Schaufelberger, CEO Financials H1 2014 Gerhard Mahrle, CFO Outlook 2014 Martin Schaufelberger, CEO Half-year Results 2014 2
Slide 3: Highlights H1 2014
Highlights H1 2014 Martin Schaufelberger CEO 3
Slide 4: Achievements in the First Half of 2014
Achievements in the First Half of 2014 Sales in LC above market average • Net Sales of CHF 76.0 million, incremental growth of 1.3% and 4.7% at constant exchange rates Volume growth in all four sales regions • Asia and North America developing well, competitive pressure in Europe and Latin America
Slide 5: Market Environment
Market Environment Continuous price pressure in traditional markets • Robust North American and Emerging Markets Intensified competition in Europe combined with economic pressure especially in South Europe Political turmoil in CIS region • Continued structural changes as a result from Increase
Slide 6: Management Actions
Management Actions Largely completed strategy implementation • Product focus Continued streamlining of product portfolio whilst adding innovations in specific segments Focus product group Treatment Auxiliaries performed particularly well • Marketing and sales initiatives Expansion of the Group
Slide 7: Additional Operational Measures
Additional Operational Measures Strive for operational excellence • Further Optimization of production processes Introduction of the Kaban technique for Componeer production Redesigned silicon assembly line in Altstätten (Switzerland) Cycle time improvement of carbide bur grinding process in o
Slide 8: New Umbrella Brand Strategy
New Umbrella Brand Strategy Renewal of visual identity Product Product Color-coded Advertisments Packaging Catalogs Half-year results 2014 8
Slide 9: Fill-Up! a dual curing bulk composite
Fill-Up!™ a dual curing bulk composite is offering a highly efficient and affordable restorative solution to both dentists and patients DEEP dual curing, arbitrary filling depth and guaranteed curing FAST no layering, easy handling, fast procedure PERFECT minimum shrinkage stress, perfect marginal a
Slide 10: Net Sales Breakdown by Product Group
Net Sales Breakdown by Product Group Sturdy Treatment Auxiliaries Comments (in CHF) • Treatment Auxiliaries best performing with a growth rate of 41.4% • Prosthetics with sales growth of 3.8% compared to previous year • Restoration encountered negative currency impact and strong competition, sales d
Slide 11: Regional Breakdown of Net Sales
Regional Breakdown of Net Sales Asia and North America gaining momentum Comments (in LC) • Asia with strongest growth of 13.1% thanks to above average growth in China, Japan and India • Solid growth in North America with increase of 6.6%, clearly above market average • South America and Europe with
Slide 12: Financials H1 2014
Financials H1 2014 Gerhard Mahrle CFO 12
Slide 13: Income Statement
Income Statement Comments Higher net sales and increased profits • Net sales growth by 1.3% in CHF, respectively 4.7% in LC In CHF 1'000 H1 2014 % H1 2013 % % YoY • Gross profit margin mainly affected by negative currency Net sales 76'020 100.0% 75'037 100.0% 1.3% impacts at 68.7% (PY: 71.8%) Materi
Slide 14: Balance Sheet
Balance Sheet Comfortable equity ratio and low debt Comments • NWC (acc. receivable + In CHF 1’000 30.06.2014 31.12.2013 r inventory – acc. payable) unchanged since end of 2013 Cash & cash equivalents 6'156 6'509 -5.4% (reduction of CHF 0.6 Receivables 34'214 32'838 4.2% million) Inventory 28'390 29
Slide 15: Cash Flow Statement
Cash Flow Statement High free cash flow based on solid operating result In CHF 1'000 H1 2014 H1 2013 r Comments • High free cash flow of CHF 3.9 Net profit 5'514 4'982 10.7% million -> improvement of CHF Depreciation & Amortization 2'545 2'611 -2.5% 4.4 million YoY Other non cash items 2'496 1'209 1
Slide 16: Overview Keyfigures (H1 2010 – H1 2014 in CHF million)
Overview Keyfigures (H1 2010 – H1 2014 in CHF million) Net sales EBIT EBIT Margin 80.0 8.0 11.0% 75.0 7.0 10.0% 70.0 9.0% 6.0 65.0 8.0% 5.0 60.0 7.0% 4.0 6.0% 55.0 3.0 5.0% 50.0 H1/2010 H1/2011 H1/2012 H1/2013 H1/2014 H1/2010 H1/2011 H1/2012 H1/2013 H1/2014 Net Profit Net Debt Free Cash Flow 6.0 10.
Slide 17: Outlook
Outlook Martin Schaufelberger CEO 17
Slide 18: Outlook
Outlook Adapting to new customer needs • Focus on innovation – Development of new products for Resto, Endo, and Treatment Auxiliaries – By anticipating market needs and cooperating with universities • Prepare for e-Commerce – Implement new product information tools – Uniform market appearance using
Slide 19: Thank you very much for your attention! Q & A
Thank you very much for your attention! Q&A 19
Slide 20: 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 20
Slide 21: Safe Harbour Statement
Safe Harbour Statement The information made available in this conference 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 c
Slide 22: Appendix
Appendix ” COLTENE 22
Slide 23: COLTENE at a Glance
COLTENE at a Glance Global dental specialist Swiss based small cap with worldwide COLTENE represents a large number sales through dental distributors and of highly recognized global brands over 200 sales representatives for chair-side dental consumables Development and operations Strong emerging mar
Slide 24: Strategy Implementation
Strategy Implementation Focus on profitable growth Product Focus Marketing & Operational Sales Push Excellence • Restoration: • Selective campaigns • Application of expansion of product in traditional global SAP system portfolio markets • Strengthen • Endodontics: • Broad-based umbrella brand Streng