Coltene Holding Ag · SIX:CLTN
Coltene — H1 2015 Earnings Presentation
26 slides from Coltene's earnings presentation, Aug 7, 2015
Slide 1: Half-year Results 2015 Media and Financial Analysts Conference Call
Half-year Results 2015 Media and Financial Analysts Conference Call Altstätten, August 7, 2015 1
Slide 2: Content
Content Highlights 2015 H1 Martin Schaufelberger, CEO Financials 2015 H1 Gerhard Mahrle, CFO Outlook 2015 Martin Schaufelberger, CEO Half-year Results 2015 2
Slide 3: Highlights 2015 H1
Highlights 2015 H1 Martin Schaufelberger CEO 3
Slide 4: Achievements in the First Half of 2015
Achievements in the First Half of 2015 Sales in LC on previous year’s level thanks to global setup • Net sales of CHF 73.3 million, -3.6% in CHF, flat in LC Currency losses of CHF 2.7 million Organic growth of 3.2% exempt declines in sales in CIS region and destocking by dealers in North America
Slide 5: Market Environment
Market Environment Continuing restrained market growth of about 2%-3% • Diverse developments in our major sales regions Dynamic Asian markets headed by China and India Robust North American and Western European markets Cyclical down-turns in Mercosur and CIS regions • Continued structural chan
Slide 6: Management Actions
Management Actions Cost reductions and strengthening of sales force • Adaption of expenses to competitive situation New initiatives in the area of production and logistics Tailored measures after removal of the CHF/EUR floor New negotiation of supply conditions Freeze of recruitments and rep
Slide 7: Additional Operational Measures
Additional Operational Measures Strive for operational excellence • Continued expansion of global setup • Sales and marketing offensive at the IDS fair in Cologne Presentation of new umbrella brand strategy Market introduction of new products, e.g. BRILLIANT EverGlow, GuttaFlow Bioseal, HyFlex E
Slide 8: COLTENE Group Management
COLTENE Group Management Team completed • COLTENE Group Management aligned to support strategy • As per 1.10.2015 Christophe Loretan will join the Group Management Team as Global Sales Manager • Beside Martin Schaufelberger, CEO, and Gerhard Mahrle, CFO, the Group Management Team will consist of: –
Slide 9: Global Setup
Global Setup Half-year Results 2015 9
Slide 10: Global Setup
Global Setup Half-year Results 2015 10
Slide 11: Regional Breakdown of Net Sales
Regional Breakdown of Net Sales Asia and Western Europe gaining momentum Comments (in LC) • Asia with strongest growth of 8.2% thanks to above average growth in China (15.9%) and India (15.6%) • 3.2% growth in North America thanks to tailwind from the USD, respectively -2.8% in LC due to destocking
Slide 12: Net Sales Breakdown by Product Group
Net Sales Breakdown by Product Group Sturdy Endodontics Comments (in CHF) • Rotary Instruments best performing with a growth rate of 8.6% • Endodontics with sales growth of 4.0% compared to previous year • Restoration and Prosthetics encountered negative currency impact and strong competition, sales
Slide 13: Financials 2015 H1
Financials 2015 H1 Gerhard Mahrle CFO 13
Slide 14: Income Statement
Income Statement Lower net sales and profits In CHF 1'000 2015 H1 % 2014 H1 % % YoY Comments • Net sales decline by 3.6% in CHF, flat in LC Net sales 73'288 100.0% 76'020 100.0% -3.6% • Gross profit margin mainly Material expenses* -21'950 -30.0% -23'819 -31.3% -7.8% affected by negative currency Gr
Slide 15: Balance Sheet
Balance Sheet Comfortable equity ratio and low debt In CHF 1’000 30.06.2015 31.12.2014 r Comments • NWC (accounts receivable + Cash & cash equivalents 8'811 18'277 -51.8% inventory ./. accounts payable) declined by CHF Receivables 33'706 38'153 -11.7% 4.8 million since end of 2014 Inventory 28'963 2
Slide 16: Cash Flow Statement
Cash Flow Statement Positive free cash flow based on solid operating result In CHF 1'000 2015 H1 2014 H1 r Comments • Free cash flow declined from CHF 3.9 million to CHF 2.7 Net profit 3'767 5'514 -31.7% million (CHF -1.2 million) due Depreciation & Amortization 2'725 2'545 7.1% to lower net profit
Slide 17: Overview Key Figures
Overview Key Figures (2011 H1 – 2015 H1 in CHF million) Net sales EBIT EBIT Margin 80.0 8.0 11.0% 75.0 7.0 10.0% 9.0% 70.0 6.0 8.0% 65.0 5.0 7.0% 60.0 4.0 6.0% 55.0 3.0 5.0% 50.0 H1/2011 H1/2012 H1/2013 H1/2014 H1/2015 H1/2011 H1/2012 H1/2013 H1/2014 H1/2015 Net Profit 6.0 Net Debt Free cash flow 5.
Slide 18: Outlook
Outlook Martin Schaufelberger CEO 18
Slide 19: Outlook
Outlook Expanding marketing and sales efforts • Securing sustainable growth – Rounding off portfolio with innovative products and technologies – Continued sales offensives – Alignment with specific needs of each sales region – Focus on key account management /special markets – Expansion and strength
Slide 20: Thank you very much for your attention! Q & A
Thank you very much for your attention! Fill-Up! – in a single step to achieve Q&A a perfect result. Admission to the US market since July 1, 2015 20
Slide 21: 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 Half-year Results 2015 21
Slide 22: 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 23: Appendix
Appendix ” COLTENE 23
Slide 24: COLTENE at a Glance
COLTENE at a Glance Global dental specialist Swiss based small cap with Highly recognized worldwide sales through dental global brands for chair-side distributors and about 200 sales dental consumables representatives Development and Strong emerging market operations in Europe, position with 28% of
Slide 25: The Brands you Trust
The Brands you Trust Restoration Prosthetics Endodontics Treatment Auxiliaries Rotary Instruments Infection Control Half-year Results 2015 25
Slide 26: Key Figures COLTENE Group (2012-2014)
Key Figures COLTENE Group (2012-2014) Half year steps in CHF million (except dividend information in CHF) Net sales EBIT EBIT Margin 100.0 16.0 20.0% 14.0 80.0 12.0 15.0% 60.0 10.0 8.0 10.0% 40.0 6.0 4.0 5.0% 20.0 2.0 0.0 0.0 0.0% H1/12 H2/12 H1/13 H2/13 H1/14 H2/14 H1/12 H2/12 H1/13 H2/13 H1/14 H2/