Coltene Holding Ag · SIX:CLTN
Coltene — FY2016 Earnings Presentation
32 slides from Coltene's earnings presentation, Mar 9, 2017
Slide 1: Full Year Results 2016: Going Digital
Full Year Results 2016 Media and Financial Analysts Conference Going Digital Martin Schaufelberger – CEO COLTENE Holding AG Gerhard Mahrle – CFO COLTENE Holding AG Zurich - March 9, 2017 COLTENE – AN INTERNATIONALLY LEADING DEVELOPER, MANUFACTURER AND SELLER OF CONSUMABLES AND SMALL EQUIPMENT FOR DE
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 2016 Martin Schaufelberger CEO Financials 2016 Gerhard Mahrle CFO Going Digital Martin Schaufelberger CEO Outlook & Priorities 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: Higher Sales, EBIT and Net Profit
FY 2016 HIGHLIGHTS Higher Sales, EBIT and Net Profit Total Sales of CHF 160.7 million in 2016; +4.0% compared to 2015 SALES Strong sales growth in EMEA, Asia and emerging markets Prosthetics delivers fastest sales growth; ongoing positive trend in Endodontics EBIT of CHF 23.3 mn (2015: CHF 20.4 mn);
Slide 6: EMEA and Asia Delivering Strong Sales Growth
NET SALES BY REGION EMEA and Asia Delivering Strong Sales Growth in CHF million 2014 2015 2016 Latin America 80 9.6% 68.2 70 Asia 60 56.4 12.9% +7.3% EMEA 50 -1.2% 42.4% 2016 40 CHF 160.7 million 30 20.7 20 15.4 +7.1% 35.1% 10 +5.9% North America 0 EMEA North America Asia Latin America 6
Slide 7: Restoration Strongest, Prosthetics with Highest Growth
NET SALES BY PRODUCT GROUP Restoration Strongest, Prosthetics with Highest Growth in CHF million 2014 2015 2016 Other Infection 45 40.3 Control 5.6% Restoration 40 6.9% 33.7 33.2 Rotary 35 +2.8% Instruments 25.1% 30 7.8% +4.9% +8.5% 25 20.7 20 2016 15 +3.0% 12.5 Treatment 12.9% CHF 160.7 million 11.
Slide 8: Digital Technologies Create New Growth Potential
DENTAL CONSUMABLES MARKETS Digital Technologies Create New Growth Potential Impact EMEA: Pleasant growth in Southern and Eastern Europe, CIS region and Middle East ++ Asia: Continued dynamic growth in China and India ++ MARKETS North America: Ongoing destocking at distributors, sell-in -4.1%; sell-o
Slide 9: Increasing Operational Efficiency
MANAGEMENT ACTIONS 2016 Increasing Operational Efficiency Implementation of strategic goals 2016-2018 focusing on Sales & Marketing activities, STRATEGY Innovation management and Partnerships Jürgen Rauch elected as new member of the Board of Directors by the AGM in 2016 ORGANIZATION Inauguration of
Slide 10: Agenda: Financials 2016
AGENDA Financials 2016 Gerhard Mahrle CFO 10
Slide 11: Increase in Sales and Solid Balance Sheet
FINANCIAL SUMMARY 2016 Increase in Sales and Solid Balance Sheet Net sales of CHF 160.7 million; +4.0% compared to 2015; +2.2% in local currencies SALES EMEA and Asia with high one digit growth; Latin America recovering Sales in North America still affected by inventory reduction at large distributo
Slide 12: Substantial Increase in Profitability
INCOME STATEMENT Substantial Increase in Profitability Comments in CHF million 2016 % 2015 % % YoY Positive FX impact of CHF 2.7 million on net sales. Net Sales 160.7 100.00% 154.5 100.0% 4.0% 2.2% growth in local currencies. Material expenses* -44.2 -27.5% -45.5 -29.4% -2.8% The increase of the Gro
Slide 13: Development of EBIT and Net Profit
INCOME STATEMENT Development of EBIT and Net Profit in CHF million in CHF million 30 22 7.4 7.4 28 20 2.6 26 18 17.3 -1.6 24 23.3 16 -4.4 -0.1 -4.4 -0.1 22 14 13.3 20.4 20 12 18 10 13
Slide 14: Solid Balance Sheet and High Equity Ratio
BALANCE SHEET Solid Balance Sheet and High Equity Ratio in CHF million 31.12.16 31.12.15 YoY Comments Cash & cash equivalents 21.6 14.6 7.0 Increase of cash & cash equivalents of CHF 7.0 million. All CHF loans are repaid. Receivables 36.0 33.1 2.9 Inventory 30.8 29.9 0.9 Net cash position of CHF 8.6
Slide 15: High Positive Free Cash Flow
CASH FLOW STATEMENT High Positive Free Cash Flow in CHF million 2016 2015 % YoY Net profit 17.3 13.3 29.5% Comments Depreciation and amortization 5.6 5.5 2.4% Free cash flow increased by CHF 3.4 Other non cash items 4.2 6.7 -35.9% million or 24.8% compared to the preceding period despite higher net
Slide 16: Attractive Share Performance and Dividend
SHARE PERFORMANCE Attractive Share Performance and Dividend in CHF COLTENE SPI in CHF Earnings per Share Dividend 90.00 5.00 80.00 4.00 70.00 3.00 60.00 2.00 50.00 1.00 40.00 0.00 01.01.2014 01.03.2014 01.05.2014 01.07.2014 01.09.2014 01.11.2014 01.01.2015 01.03.2015 01.05.2015 01.07.2015 01.09.2015
Slide 17: Proposals to the General Assembly
AGM 2017 Proposals to the Genera Assembly Astrid Waser proposed as new member of the Board of Directors Re-election of the current members of the Board of Directors, with exception of Robert Heberlein who resigns as Vice Chairman and member of the Board since the Company’s inception Dividend CHF 2.7
Slide 18: Agenda: Going Digital
AGENDA Going Digital Martin Schaufelberger CEO 18
Slide 19: Triple Approach to Digitalization
GOING DIGITAL 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 and tools
Slide 20: Growth Strategy
STRATEGY Growth Strategy Improve efficiency and effectiveness of the global sales teams: Training of sales staff and use of new sales and marketing tools Increase number of sales representatives pursuant to market potential: 20 new sales staff (recruiting process ongoing) STRATEGY Reinforcement of k
Slide 21: Innovation Management as a Top Priority
INNOVATION Innovation Management as a Top Priority Continuous monitoring of market trends and new customer needs Focus on product groups with the greatest business potential Worldwide coordination of knowledge management Projects with the highest market potential are expedited to shorten time-to-mar
Slide 22: 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 23: Agenda: Outlook & Priorities
AGENDA Outlook & Priorities Martin Schaufelberger CEO 23
Slide 24: Market Opportunities and Challenges
OUTLOOK AND PRIORITIES Market Opportunities and Challenges Impact Dynamic Asian markets headed by China and India ++ Robust Western European markets + SALES Ongoing Challenges in North America and Latin America - Rebound of the CIS region + Consolidation of dealers, distribution and marketing power
Slide 25: Focus on Profitable and Sustainable Growth
OUTLOOK AND PRIORITIES Focus on Profitable and Sustainable Growth Participation in general market growth in dental consumables of 2-3% MARKETS Exploit growth opportunities spurred by megatrends such as ageing population, growing middle class and increasing importance of emerging markets Gradual impr
Slide 26: 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 27: Appendix
APPENDIX 27
Slide 28: 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 29: Global Setup
COMPANY PORTRAIT Global Setup Europe Group companies 10 North America Production sites 2 Group companies 2 Production sites 1 GERMANY, Langenau SWITZERLAND, Altstätten USA, Cuyahoga Falls (OH) Asia Pacific Group companies 3 Production sites 0 Middle East and Africa Group companies 0 Production sites
Slide 30: 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 31: 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 % 170.0 25.0 16.0% 14.5% 162.3 13.8% 160.0 160.7 23.0 13.2% 14.0% 160.0 158.1 23.3 154.5 21.0 12.1% 22.4 11.0% 20.4 12.0% 19.0 19.4 150.0 10.0% 17.0 17.4 140.0 15.0 8.0% 2012 2013 2014
Slide 32: COLTENE Holding AG 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 32