Coltene Holding Ag · SIX:CLTN
Coltene — Coltène/Whaledent — H1 2006 Earnings Presentation
12 slides from Coltene's earnings presentation, 2006
Slide 1: Half-Year Results 2006
Half-Year Results 2006 Content • Half-year results • Innovation drives performance in dental business • Medical business further improving results • Positive outlook
Slide 2: Sales and EBIT Development and outlook
Sales Development and outlook in CHFm 300 260 247 250 200 150 122 125 128 132 100 50 0 HY1 HY2 FY HY1 HY2 FY 2005 2006 EBIT Development and outlook in CHFm 35 32.5 30 27.2 25 20 17.8 14.4 14.7 15 12.8 10 5 0 HY1 HY2 FY HY1 HY2 FY 2005 2006
Slide 3: P&L – 1HY 2006 results and plan
P&L – 1HY 2006 results and plan HY 2005 HY 2006 Change Plan 2006* Net sales 122.3 127.6 +4.3% 260.0 Costs of materials -38.1 -42.8 Personnel exp. -39.8 -41.4 Other op. exp. -27.3 -23.8 EBITDA 17.1 19.6 +14.6% 43.0 Depreciation -4.3 -4.9 -10.5 EBIT 12.8 14.7 +14.8% 32.5 Financial exp. -1.7 Tax exp. -
Slide 4: Balance Sheet – Assets and Liabilities
Balance Sheet – Assets 30.6. 2006 Carve-out 31.12.2005* Cash 25.0 25.7 Accounts receivable 58.8 47.8 Inventories 50.1 53.7 CURRENT ASSETS 133.9 127.3 Fixed assets 59.6 62.5 Intangible assets 62.6 64.2 NON-CURRENT ASSETS 122.2 126.7 TOTAL ASSETS 256.2 254.0 Balance Sheet – Liabilities 30.06 2006 Carv
Slide 5: Balance Sheet – Net debt, NWC; Targeting Dynamic HC Markets
Balance Sheet – Net debt, NWC Net debt HY 2006 Carve-out 31.12.2005 Cash 25.1 25.7 Liabilities with interest -66.2 -74.6 Leasing -10.4 -10.5 Total net debt -51.5 -59.4 Net working capital HY 2006 Carve-out 31.12.2005 Current assets 108.9 101.6 Non-interest short-term liabilities -33.8 -28.8 Total ne
Slide 6: Medisize Medical Group: Major developments in 1HY
Medisize Medical Group Medisize Medical Group Medisize Medical Group Major developments in 1HY Airway Management (Medisize-branded business) • Strike of German doctors negatively impacted sales • Cost pressure • Launch of new breathing therapy devices
Slide 7: Major developments in 1HY; Outsourcing drives OEM growth
Medisize Medical Group Major developments in 1HY Development&Manufacturing (OEM-Business) • Raw material quality issues in Q1 at Irish plant – Negatively impacted business in Q1 – Issue resolved, Q2 back on plan • Outsourcing-trend picks up in Europe – First bids to take-over entire production lines
Slide 8: Outstanding customer portfolio
Medisize Medical Group Outstanding customer portfolio Manufacture&Development (OEM-Business) • Comprehensive technology portfolio and extensive track record • Proven system partner to pharmaceutical and medical industries – Design, engineering, production • Broad international customer base • Within
Slide 9: Attractive disposable device market; OEM market consolidating
Medisize Medical Group Attractive disposable device market Disposable market • OEM segment is expanding faster (14%) than general > 10 bn USD market • Growing at 14%, the sector 6.5 size doubles in 5 years • OEM segment to 3.5 consolidate • OEM business is somewhat Branded OEM “lumpy” and hard to pr
Slide 10: Coltène/Whaledent: Solid performance in 1HY 2006
Medisize Dental Group Coltène/Whaledent Medisize Dental Group Solid perfomance in 1HY 2006 • 10% sales growth strongly above market average • Solid performance in mature markets • Investments into loyal customer base – Symposia in Latin America, Europe • Innovation-led growth – Synergy D6 filling ma
Slide 11: World dental consumables market
Medisize Dental Group World dental consumables market • Overall consumables growth World dental retail rate 5% market >14 bn USD • North American retail market in advanced state of consolidation 1 bn 1 bn • European retail market rapidly consolidating 3 bn 9 bn • Branded product innovation drives gr
Slide 12: Outlook
Medisize Dental Group Basis for success in organic growth • Identifying and satisfying the unmet needs • Tremendous customer loyalty • Strong long-term relationships with dental distribution worldwide • Huge brand name recognition • Enter the market with features you can demonstrate Outlook • Contin