Sonova Holding AG · SIX:SOON
Sonova — Vontobel Summer Conference 2011
12 slides from Sonova's conference presentation, Jun 7, 2011
Slide 1: Company Presentation
THE HEARING CARE COMPANY COMPANY PRESENTATION June 2011 Disclaimer This presentation may contain forward-looking statements including, but not limited to, projections of future performance of products, financial conditions, results of operations and cash flows. The statements are made on the basis o
Slide 2: Highlights 2010/11; Market trends
Highlights 2010/11 – Sales record of CHF 1,617 million Total sales growth of +13.3% in lc Negative currency effect of 5.6% – All regions contributing to sales growth – Solid core business hearing instruments Growth of 10.1% in lc EBITA margin of 24.0% – Lower Group EBITA margin of 20.2% – Un
Slide 3: Hearing Instruments Segment; Hearing Implants: Market overview
Hearing Instruments Segment Sonova’s market position – Market leader in hearing instruments – Record turnover of CHF 1,546 million, contributing 96% to Group turnover – Above market growth at an organic growth rate of 5.8% in lc Achievements 2010/11 – Successful introduction of Spice technology plat
Slide 4: Hearing Implants: New segment; Creating the global hearing care company
Hearing Implants: New segment Performance 2010/11 – Turnover of CHF 71 million or 4% of Group sales – Substantially below expectations – Voluntary, temporary recall of Adavanced Bionics implants in November 2010 – Operating loss (EBITA) of CHF 45 million – Impairment of goodwill and capitalized R&D
Slide 5: Our business; Serving an attractive market
Positioning and Strategy: Our business Serving an attractive market Hearing Hearing Instruments Implants Advanced Bionics Communication Phonak systems & PAI Unitron The global hearing care company June, 2011 9 Positioning and Strategy: Serving an attractive market Penetration rate segmented by heari
Slide 6: Consolidating the market leading position; Our strategy
Positioning and Strategy: Consolidating the market leading position Global Sonova‘s key strenghts: Sonova Market leader Broadest product portfolio Footprint Global network High innovation rate Regional Basic Products Comprehensive Portfolio Product Offering Source: market data, Sonova estimates
Slide 7: Addressing key topics in 2011/12; Financial Highlights
Positioning and Strategy: Adressing key topics in 2011/12 Topic Initiatives AB temporary recall Complete submission and receive FDA approval; resume selling in U.S.A. AB Neptune product launch Complete launch of new off-the-ear, water-proof power supply AB next generation product Continue developmen
Slide 8: Solid financial performance
Full Year 2010/11: Solid financial performance In CHF million 2010/11 Change 2009/10 Sales 1,616.7 +7.8% 1,500.3 Gross profit 1,118.7 1,058.6 +5.7% Gross profit margin 69.2% 70.6% EBITA 326.6 -22.3% 420.3 EBITA margin 20.2% 28.0% Operating free cash flow 221.5 -31.8% 324.8 Cash-based basic EPS (in C
Slide 9: Gross profit at record level; Cost increase
Full Year 2010/11: Gross profit at record level Gross profit development in millions of CHF +85 -37 1,182 -63 +2 +75 1,119 1,059 +123 +11.7% +60 +5.7% Margin: Margin: 70.6% 69.2% Gross Volume, Economies of External AB impact Gross profit FX Gross profit price, mix scale & growth HY10/11 effect profi
Slide 10: Reduced EBITA; Unchanged distribution
Full Year 2010/11: Reduced EBITA EBITA development in millions of CHF +99 -79 598 420 -39 -39 362 -35 59 -14.0% 327 -94 -22.3% Margin: Margin: 28.0% 20.2% EBITA Variance Increase of OPEX from AB impact Gross profit FX EBITA 09/10 in gross OPEX acquisitions HY10/11 effect 10/11 profit const. FX EBITA
Slide 11: Outlook: FX impact; Guidance 2011/12
Outlook: FX impact on sales and margins likely to continue Ø 2010/11: 1.339 Ø 2010/11: 1.014 Rate Sales EBITA USD/CHF +/- 5% +/- CHF 30 million +/- CHF 9 million EUR/CHF +/- 5%impact on sales Negative +/- CHF 25 million expected on margins +/- CHF 15 million June, 2011 21 Outlook: Guidance 2011/12
Slide 12: Thank you
THANK YOU.