Slide 1: Fourth Quarter and Full Year 2013 Earnings Conference Call
Exhibit 99.1 TELEFLEX INCORPORATED FOURTH QUARTER AND FULL YEAR 2013 EARNINGS CONFERENCE CALL 1
Slide 2: Conference Call Logistics
Conference Call Logistics The release, accompanying slides, and replay webcast are available online at www.teleflex.com (click on “Investors”) Telephone replay available by dialing 888-286-8010 or for international calls, 617- 801-6888, pass code number 68453301 2
Slide 3: Introductions
Introductions Benson Smith Chairman, President and CEO Thomas Powell Executive Vice President and CFO Jake Elguicze Treasurer and Vice President of Investor Relations 3
Slide 4: Forward-Looking Statements/Additional Notes
Forward-Looking Statements/Additional Notes This presentation and our discussion contain forward-looking information and statements including, but not limited to, the expected accretive impact of our acquisition of Mayo Healthcare Pty Ltd.; forecasted 2014 constant currency revenue growth; the expec
Slide 5: Fourth Quarter and Full Year 2013 Highlights
FOURTH QUARTER AND FULL YEAR 2013 HIGHLIGHTS 5
Slide 6: Fourth Quarter Highlights
Fourth Quarter Highlights Strong final two weeks of December and contribution from Vidacare lead to revenue of $450.5 million, up 6.9% constant currency vs. prior year Adjusted gross margin of 50.0%, up 240 bps vs. prior year Adjusted operating margins of 16.0%, up 50 bps vs. prior year • Adjusted o
Slide 7: Fourth Quarter Highlights
Fourth Quarter Highlights Improvement in the average selling prices of products contribute 86 bps of top-line growth in Q4’13 compared to Q4’12 • EMEA up 129 bps • Asia Pacific up 89 bps • Americas up 86 bps • OEM down 81 bps Continue to expand GPO & IDN relationships • 4 new agreements (2 IDN; 2 GP
Slide 8: Fourth Quarter Highlights: ISO-Gard Mask with ClearAir Technology
Fourth Quarter Highlights ISO-Gard® Mask with ClearAir™ Technology PRODUCT DESCRIPTION Designed to help reduce hazardous waste anesthetic gas (WAG) within a nurse’s breathing zone Developed in partnership with clinicians and is the only solution available for “source control” of WAG in the recovery
Slide 9: Fourth Quarter Highlights: LMA International N.V. and affiliates
Fourth Quarter Highlights LMA International N.V. and affiliates • Contributed revenue of approximately $34.2 million in Q4’13 • Contributed revenue and gross margin of approximately $134.2 million and 59%, respectively for full year 2013 • Integration of acquisition and financial performance during
Slide 10: Completed acquisition of Vidacare Corporation
Fourth Quarter Highlights Completed acquisition of Vidacare Corporation • Transaction closed on December 2, 2013 • Q4’13 revenue contribution ahead of initial expectations • Integration activities on schedule 10
Slide 11: Mayo Healthcare Pty Ltd.
Fourth Quarter Highlights Mayo Healthcare Pty Ltd. • Definitive agreement signed in December 2013 to acquire one of Australia’s largest medical device distributors • Provides high quality products, education services, technical services and customer support to healthcare institutions throughout Aust
Slide 12: Full Year Highlights
Full Year Highlights Revenue of $1.696 billion, up 9.0% constant currency vs. prior year Adjusted gross margin of 49.6%, up 130 bps vs. prior year Adjusted operating margins of 16.3%, flat vs. prior year primarily due to medical device excise tax • Adjusted operating margin excluding intangible amor
Slide 13: Full Year Highlights
Full Year Highlights New product introductions contribute 124 bps of top-line growth in 2013 compared to 2012 Improvement in the average selling prices of products contribute 98 bps of top-line growth in 2013 compared to 2012 • Americas up 122 bps • EMEA up 111 bps • Asia Pacific up 66 bps • OEM dow
Slide 14: Full Year Highlights
Full Year Highlights Combination of market-share enhancing and technology acquisitions across multiple product areas positions Company for sustainable revenue growth and margin expansion • Vidacare Corporation • Ultimate Medical Pty. Ltd. • Eon Surgical, Ltd. 14
Slide 15: Fourth Quarter 2013 Financial Review
FOURTH QUARTER 2013 FINANCIAL REVIEW 15
Slide 16: Financial Results
Financial Results Revenue of $450.5 million • Up 7.5% vs. prior year period on an as-reported basis • Up 6.9% vs. prior year period on a constant currency basis Adjusted gross margin of 50.0% • Up 240 bps vs. prior year period Research & development spending up 9.9% from prior year period Adjusted o
Slide 17: Fourth Quarter 2013 Product & Segment Revenue Review
FOURTH QUARTER 2013 PRODUCT & SEGMENT REVENUE REVIEW 17
Slide 18: Product Revenue Review
Product Revenue Review Q4’13 Q4’12 8% 9% 4% 5% 18% 18% 70% 68% Critical Care Surgical Care Critical Care Surgical Care Cardiac Care OEM Cardiac Care OEM Constant Currency Revenue Commentary Critical Care: $316.7 million, up 10.2% Surgical Care: $80.5 million, up 4.0% Anesthesia – up 16.9% Vascular a
Slide 19: Segment Revenue Review
Segment Revenue Review Q4’13 Q4’12 8% 9% 13% 12% 47% 48% 32% 31% Americas EMEA Asia OEM Americas EMEA Asia OEM Constant Currency Revenue Commentary Americas: $212.4 million, up 6.6% EMEA: $144.9 million, up 5.2% Asia: $59.1 million, up 21.6% OEM: $34.1 million, down 5.7% Note: Increases and decrease
Slide 20: 2014 Financial Outlook
2014 FINANCIAL OUTLOOK 20
Slide 21: 2014 Financial Outlook
2014 Financial Outlook Constant currency revenue growth expected to be between 7% and 9% • Full year impact of Vidacare and distributor-to-direct conversions, both completed and planned to be completed in 2014 • Growth from new product pipeline comparable to 2012-2013 levels • Assumption of modest b
Slide 22: 2014 Financial Outlook
2014 Financial Outlook Adjusted operating margin excluding intangible amortization expense expected to be between 20% and 21% • Previously provided adjusted operating margin range of 17% to 18% included approximately 325 bps of intangible amortization expense • Year-over-year gross margin gains temp
Slide 23: Question & Answer
QUESTION & ANSWER 23 Teleflex:
Slide 24: Appendices
APPENDICES 2a Teleflex:
Slide 25: Appendix A – Reconciliation of Product Constant Currency Revenue Growth
Appendix A – Reconciliation of Product Constant Currency Revenue Growth Dollars in Millions Three Months Ended % Increase / (Decrease) December 31, 2013 December 31, 2012 Constant Currency Currency Total Critical Care $ 316.7 $ 286.5 10.2% 0.4% 10.6% Surgical Care 80.5 76.5 4.0% 1.2% 5.2% Cardiac Ca
Slide 26: Appendix B – Reconciliation of Segment Constant Currency Revenue Growth
Appendix B – Reconciliation of Segment Constant Currency Revenue Growth Dollars in Millions Three Months Ended % Increase / (Decrease) December 31, 2013 December 31, 2012 Constant Currency Currency Total Americas $ 212.4 $ 200.1 6.6% (0.4%) 6.2% EMEA 144.9 132.8 5.2% 4.0% 9.2% Asia 59.1 50.5 21.6% (
Slide 27: Appendix C – Reconciliation of Critical Care Product Constant Currency Revenue Growth
Appendix C – Reconciliation of Critical Care Product Constant Currency Revenue Growth Dollars in Millions Three Months Ended % Increase / (Decrease) December 31, 2013 December 31, 2012 Constant Currency Currency Total Vascular & Interventional Access $ 129.5 $ 117.1 11.3% (0.7%) 10.6% Anesthesia 95.
Slide 28: Appendix D – EPS Reconciliation from Continuing Operations Q4 2013
Appendix D – EPS Reconciliation from Continuing Operations Quarter Ended – December 31, 2013 Dollars in millions, except per share data Net income Shares (loss) used in attributable to Diluted calculation common earnings per of GAAP Selling, Restructuring shareholders share and Cost of general and R
Slide 29: Appendix E – EPS Reconciliation from Continuing Operations Q4 2012
Appendix E – EPS Reconciliation from Continuing Operations Quarter Ended – December 31, 2012 Net income Shares Dollars in millions, except per share data (loss) used in attributable to Diluted calculation common earnings per of GAAP Selling, Restructuring shareholders share and Cost of general and R
Slide 30: Appendix F – Reconciliation of Teleflex Gross Profit and Margin
Appendix F – Reconciliation of Teleflex Gross Profit and Margin Three Months Ended $ thousands December 31, 2013 December 31, 2012 Teleflex gross profit as-reported $ 224,943 $ 199,180 Teleflex gross margin as-reported 49.9% 47.5% Losses and other charges (A) 253 459 Adjusted Teleflex gross profit $
Slide 31: Appendix G – Reconciliation of Teleflex Operating Profit and Margin
Appendix G – Reconciliation of Teleflex Operating Profit and Margin Three Months Ended $ thousands December 31, 2013 December 31, 2012 Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes $ 54,064 $ 58,440 Teleflex income from continuing operations bef
Slide 32: Appendix H – Reconciliation of Product Constant Currency Revenue Growth
Appendix H – Reconciliation of Product Constant Currency Revenue Growth Dollars in Millions Twelve Months Ended % Increase / (Decrease) December 31, 2013 December 31, 2012 Constant Currency Currency Total Critical Care $ 1,182.7 $ 1,040.3 13.4% 0.3% 13.7% Surgical Care 306.5 291.1 4.5% 0.8% 5.3% Car
Slide 33: Appendix I – Reconciliation of Teleflex Gross Profit and Margin
Appendix I – Reconciliation of Teleflex Gross Profit and Margin Twelve Months Ended $ thousands December 31, 2013 December 31, 2012 Teleflex gross profit as-reported $ 838,945 $ 748,225 Teleflex gross margin as-reported 49.5% 48.2% Losses and other charges (A) 2,275 459 Adjusted Teleflex gross profi
Slide 34: Appendix J – Reconciliation of Teleflex Operating Profit and Margin
Appendix J – Reconciliation of Teleflex Operating Profit and Margin Twelve Months Ended $ thousands December 31, 2013 December 31, 2012 Teleflex income (loss) from continuing operations before interest, loss on extinguishment of debt and taxes $ 233,261 $ (97,375) Teleflex income (loss) from continu
Slide 35: Appendix K – EPS Reconciliation from Continuing Operations Year 2013
Appendix K – EPS Reconciliation from Continuing Operations Year Ended – December 31, 2013 Dollars in millions, except per share data Selling, Restructuring Diluted earnings per Cost of general and Research and and other Gain/(loss) on sales of Loss on Net income (loss) attributable to share availabl
Slide 36: Appendix L – EPS Reconciliation from Continuing Operations Year 2012
Appendix L – EPS Reconciliation from Continuing Operations Year Ended – December 31, 2012 Dollars in millions, except per share data Selling, Research Restructuring Diluted earnings per Shares used in Cost of general and and and other Gain/(loss) on sales of Loss on Net income (loss) attributable to
Slide 37: Appendix M – Reconciliation of 2014 Constant Currency Revenue Growth Guidance
Appendix M – Reconciliation of 2014 Constant Currency Revenue Growth Guidance Low High Full Year 2014 Forecasted GAAP Revenue Growth 6.0% 8.0% Foreign Exchange 1.0% 1.0% Full Year 2014 Forecasted Constant Currency Revenue Growth 7.0% 9.0% 37
Slide 38: Appendix N – Reconciliation of 2014 Gross Margin Guidance
Appendix N – Reconciliation of 2014 Gross Margin Guidance 2014 Forecast GAAP Gross Margin 52.0% 52.5% Losses and other charges - - Adjusted Gross Margin 52.0% 52.5% 38
Slide 39: Appendix O – Reconciliation of 2014 Operating Margin
Appendix O – Reconciliation of 2014 Operating Margin 2014 Forecast GAAP Operating Margin 16.1% 17.0% Losses and other charges 0.4% 0.5% Adjusted Operating Margin 16.5% 17.5% Intangible amortization expense 3.5% 3.5% Adjusted Operating Margin Excluding Intangible Amortization Expense 20.0% 21.0% 39
Slide 40: Appendix P – Reconciliation of 2014 Adjusted Earnings per Share Guidance
Appendix P – Reconciliation of 2014 Adjusted Earnings per Share Guidance Low High Diluted earnings per share attributable to common shareholders $3.60 $3.75 Restructuring, impairment charges, and special items, net of tax $0.65 $0.70 Intangible amortization expense, net of tax $0.93 $0.93 Amortizati