Slide 1: Cochlear Limited 2011 Annual General Meeting
For personal use only Cochlear Limited 2011 Annual General Meeting Australia Ball Room Menzies Hotel Sydney 14 Carrington Street Sydney NSW Tuesday 18th October 2011 1
Slide 2: Chairman and Company Secretary
Mr Rick Holliday-Smith - Chairman For personal use only Mr Neville Mitchell – Company Secretary 2
Slide 3: CEO/President and Director
Dr Chris Roberts – Chief Executive Officer / President For personal use only Prof Ed Byrne AO – Director 3
Slide 4: Directors Yasmin Allen and Paul Bell
Mrs Yasmin Allen - Director For personal use only Mr Paul Bell - Director 4
Slide 5: Directors Donal O'Dwyer and Andy Denver
Mr Donal O’Dwyer - Director For personal use only Mr Andy Denver - Director 5
Slide 6: Rick Holliday-Smith, Chairman
For personal use only Rick Holliday-Smith Chairman 6
Slide 7: F11: Successful year of growth
For personal use only Chris Roberts CEO/President F11: Successful year of growth F11 was another successful year of growth, on the long journey of providing life changing implantable technology for the hearing impaired, young and old. 7
Slide 8: F11: Growth trend continued
F11: Growth trend continued For personal use only Revenue CI Unit Sales BAS Product Sales $810 million 24,661 units $84million Up 10% Up 17% Up 2% in Up 17% in constant currency constant currency (CC) F11: Growth trend continued EBIT NPAT DPS $243 million $180 million $2.25 Up 10% Up 16% Up 13% 8
Slide 9: F11 Regional Split of Sales
Cochlear: F11 Regional Split of Sales For personal use only Europe, Middle East and Africa Constant Currency growth 14% Americas Constant Currency growth Asia Pacific Constant Currency growth 16% 31% New Global Headquarters • Custom built for unique, • Part of a multi-disciplinary hearing multi-disc
Slide 10: Voluntary recall of unimplanted CI500 series implants
Voluntary recall of unimplanted CI500 series implants For personal use only • Sep 11th, 2011, sales and distribution of CI500 series implants suspended globally and voluntary recall initiated of unimplanted CI500 series devices – Increase in CI512 failures had been reported • CI24RE implants (Freedo
Slide 11: Cochlear Nucleus System - Components
Cochlear™ Nucleus® 5 System - Components For personal use only Programming Sound Remote Cochlear Implant Software. Processor Assistant Custom Sound™ Component of system impacted by voluntary recall Cochlear™ Nucleus® System Programming Sound Remote Cochlear Implant Software. Processor Assistant Cust
Slide 12: Range of externals, accessories etc.
Range of externals, accessories etc. For personal use only Range of externals, accessories 12
Slide 13: The Nucleus CI24RE Cochlear Implant
The Nucleus CI24RE Cochlear Implant For personal use only Same powerful • Leading reliability microchip – 99% cumulative survival rate at 7 years. • Powerful digital microchip – Supports ongoing advancements in speech processing technologies • Available with the broad Cochlear electrode portfolio CI
Slide 14: Recall Implications - financials
Recall Implications - financials For personal use only • Financial Costs – Provision of $130 million to $150 million – After tax cash cost of $20 million to $30 million • Challenges & opportunities – Global Supply Chain • Continuing to meet demand for surgery – Market Share Dynamics • Minimal market
Slide 15: Cochlear implant system portfolio
Nucleus Cochlear Hybrid Baha Bone Codacs Direct Implant systems Electro-Acoustic Conduction Acoustic Cochlear For personal use only Implant systems Implant systems Stimulation Implant systems Cochlear™ Nucleus® Cochlear Hybrid™ Cochlear Baha™ Cochlear Codacs™ Systems Systems System System “Together
Slide 16: Rick Holliday-Smith, Chairman
For personal use only Rick Holliday-Smith Chairman 16
Slide 17: Business of the Meeting: Resolution No. 1
Cochlear Limited For personal use only 2011 Annual General Meeting Business of the Meeting Resolution No. 1 Financial and other reports To receive and consider the Company’s Financial Report, Directors’ Report and Auditor’s Report in respect of the financial year ended 30 June 2011. 17
Slide 18: Resolution 1 Proxy Summary; Resolution 2.1
Resolution No. 1 For personal use only Financial and Other Reports Proxy Summary • Total number of proxy and direct votes cast 31,347,720 100% • Votes in favour of the resolution 30,838,532 98.38% • Votes to be cast at the discretion of the proxy 482,595 1.54% • Votes against the resolution 26,593 0
Slide 19: Resolution 2.1 Remuneration Report
Resolution No. 2.1 For personal use only Remuneration Report Proxy Summary • Total number of proxy and direct votes cast 31,176,328 100% • Votes in favour of the resolution 30,449,777 97.67% • Votes to be cast at the discretion of the proxy 317,494 1.02% • Votes against the resolution 409,057 1.31%
Slide 20: Resolution 3.1 Re-election of Rick Holliday-Smith
Resolution No. 3.1 For personal use only Re-election of directors 3.1 “THAT Mr Rick Holliday-Smith, being a director who is retiring by rotation in accordance with the Company’s constitution and who, being eligible, offers himself for re-election as a director of the Company, be re-elected as a dire
Slide 21: Resolution 3.2 Re-election of directors
Resolution No. 3.2 For personal use only Re-election and election of directors To consider and, if thought fit, to pass the following resolutions as ordinary resolutions: Resolution No. 3.2 Re-election of directors 3.2 “THAT Mr Paul Bell, being a director who is retiring by rotation in accordance wi
Slide 22: Resolution 3.2 Proxy Summary; Resolution 4.1
Resolution No. 3.2 For personal use only Re-election of directors – Mr Paul Bell Proxy Summary • Total number of proxy and direct votes cast 31,412,485 100% • Votes in favour of the resolution 30,852,564 98.22% • Votes to be cast at the discretion of the proxy 475,525 1.51% • Votes against the resol
Slide 23: Resolution 4.1 CELTIP; Resolution 5.1
Resolution No. 4.1 For personal use only Approval of issue, allocation or transfer of securities to the CEO/President under the Cochlear Executive Long Term Incentive Plan (“CELTIP”) Proxy Summary • Total number of proxy and direct votes cast 31,202,904 100% • Votes in favour of the resolution 30,35
Slide 24: Resolution 5.1 Non-executive directors' remuneration
Resolution No. 5.1 For personal use only To increase the maximum aggregate remuneration of non-executive directors Proxy Summary • Total number of proxy and direct votes cast 27,274,034 100% • Votes in favour of the resolution 25,572,237 93.76% • Votes to be cast at the discretion of the proxy 313,6
Slide 25: Close of Meeting
For personal use only Close of Meeting 25