Straumann Holding Ag · SIX:STMN

Straumann — FY 2020 Earnings Presentation

22 slides from Straumann's earnings presentation, Feb 16, 2021

  1. Slide 1: Virtual town hall: 2020 full-year results conference

    #TogetherStrong Virtual townhallresults 2020 full-year meetingconference Basel, 16 February 2021 1 Disclaimer This presentation contains certain forward-looking statements that reflect the current views of management. Such statements are subject to known and unknown risks, uncertainties and other fa

  2. Slide 2: Agenda and Full-year highlights

    2/15/2021 9:46 PM Agenda Full-year highlights Guillaume Daniellot Business & regional review Peter Hackel Recent achievements & strategy in action Guillaume Daniellot Outlook 2021 Guillaume Daniellot Guillaume Daniellot Q&A and upcoming events Peter Hackel 3 Full-year highlights Guillaume Daniellot,

  3. Slide 3: A challenging year with solid results returning to organic growth in H2

    A challenging year with solid results returning to organic growth in the second half of 2020 REVENUE ORGANIC GROWTH1 CORE EBIT MARGIN2 CHF 1.4bn -6% 23.4% -11% vs 2019 +8% organic growth1 in Q4 IFRS EBIT margin: 11% CUSTOMER FOCUS EXPANSION OUTLOOK3 Immediacy DrSmile Further share gains Straumann BL

  4. Slide 4: A brighter outlook but recovery will be gradual

    “A brighter outlook but recovery will be gradual” (OECD) Dentist offices remain open, patient flow improved OECD World GDP Forecast December 20201 Dentists open Nov 19 Europe Dec 20 APAC NAM LATAM Emerging mkts Patient flow Europe APAC NAM LATAM World GDP, index 2020-Q1=100, Source: OECD Economic Ou

  5. Slide 5: Business and regional review

    Resizing to support future growth Employees 9 9 Business and regional review Peter Hackel, CFO 10 FY 2020, Straumann Group 5

  6. Slide 6: HY2 rebound only partially offsets HY1 shortfall

    HY2 rebound only partially offsets HY1 shortfall Revenue development (in CHF million, rounded) Regional share of -10.7% organic decline in CHF -5.6% organic Change in organic growth -6.6% -5.2% -0.5% -15.0% 11 11 Growth returns in EMEA and NAM in HY2 EMEA Revenue change (organic) 56%  EMEA pent-up

  7. Slide 7: APAC ahead; Latin America in turnaround phase

    APAC ahead; Latin America in turnaround phase APAC Revenue change (organic)  Strong growth in HY2 almost fully 23.4% 24.5% 56% compensated for 22.1% 16.0% 17.9% 11.0%  China, Australia, Japan, New 21% of Group* Zealand and Taiwan strong; Korea and India still battling against the Q1 Q2 Q3 Q4 Q1 Q2

  8. Slide 8: The following effects were defined as non-core items

    The following effects were defined as non-core items  The amortization of acquisition-related intangible assets of CHF 9 million  Impairment charges, triggered by COVID-19, of financial and non-financial assets, 2020 including Createch, Dental Wings and Equinox of CHF 150 million  Restructuring c

  9. Slide 9: Reported financials at a glance

    Reported financials at a glance % of Margin Change In CHF m, rounded FY 2020 Comments revenue change in % Revenue 1'425.9 100.0% (10.7%) COGS (396.1) 27.8%placeholder 0.1% GROSS PROFIT 1'029.8 72.2% (300bps) (14.2%) Operating expenses (873.3) 61.2% 7.4% Impairments –1070bps EBIT 156.5 11.0% (1330bps

  10. Slide 10: Gross margin softer due to pandemic but at a solid 73%

    Gross margin softer due to pandemic but at a solid 73% In %, rounded -280bps -190bps 19 19 Strong increase in HY2 lifted Core EBIT to 23.4% In %, rounded -370bps -210bps Thereof impairments: -1070bps 20 20 FY 2020, Straumann Group 10

  11. Slide 11: Core net profit bounces back to 18.3% after difficult HY1

    Core net profit bounces back to 18.3% after difficult HY1 In CHF million, rounded -22.8% Thereof impairments: CHF 150 million Net profit Net profit margin margin 21.2% 18.3% 21 21 CAPEX and NWC with positive impact on free cash flow In CHF million, rounded +28.6% FCF margin 20.7% FCF margin 14.4% 22

  12. Slide 12: Investing for the future – production site expansions; Stable dividend

    Investing for the future – production site expansions Villeret Calw Curitiba Straumann Medentika ClearCorrect, NUVO, Dental Implant System + 11 100 m2 Cosmos resins + 14 000 m2 + 11 000 m2 23 23 Stable dividend  The Board proposes a dividend of CHF 5.75 per share  Dividend is payable on 15 April 2

  13. Slide 13: Recent achievements & strategy in action

    Recent achievements & strategy in action Guillaume Daniellot, CEO 25 Overarching strategic priorities I. Drive our high-performance Straumann Group culture & organization II. Accelerate growth in core implant market & strategic segments III. Create the leading ecosystem for esthetic dentistry 26 26

  14. Slide 14: EMB team reflects focus on growth and digital transformation

    Driving our high-performance Straumann Group culture Employee Survey Response Engagement Comments rate score 86% 78 > 8000 +4 points above global benchmark 27 27 EMB team reflects focus on growth and digital transformation Guillaume Daniellot Wolfgang Becker Robert Woolley Patrick Loh Aurelio Sahagu

  15. Slide 15: Innovations for immediacy driving the premium implant segment

    Our strategic priorities I. Drive our high-performance Straumann Group culture & organization II. Accelerate growth in core implant market & strategic segments III. Create the leading ecosystem for esthetic dentistry 29 29 Innovations for immediacy driving the premium implant segment  Straumann BLX

  16. Slide 16: Challenger brands on the way to leadership in the value segment

    Our challenger brands on the way to leadership in the value segment – Introducing Neodent Zirconia Implant Esthetics Comprehensive and flexible ceramic prosthetic portfolio Flexibility Strong & stable ceramic ceramic screw-retained connection : ZiLock® connection. Stability Naturally tapered implant

  17. Slide 17: Expanding implant health portfolio by acquiring minority stake in Labrida

    Expanding implant health portfolio by acquiring minority stake in Labrida  Offering additional solutions for managing peri-implant diseases  Exclusive distribution rights in key markets for Labrida BioCleanTM  Option rights to increase shareholdings in future Labrida BioCleanTM Antibacterial Prov

  18. Slide 18: Medit completes intraoral scanner portfolio

    Medit completes intraoral scanner portfolio to support our Straumann Group digital workflow market penetration 3Shape TRIOS Dental Wings Virtuo Vivo Medit i500 35 35 Orthodontics business grew significantly in Q4 ClearCorrect Bay materials Patents to protect  ClearPilot – new Software tool well-rec

  19. Slide 19: DrSmile – growing at a fast pace; Outlook 2021

    DrSmile – growing at a fast pace  Active in 4 countries (Germany, Austria, Spain, France) 37 37 Outlook 2021 38 FY 2020, Straumann Group 19

  20. Slide 20: Outlook 2021; Questions & answers

    Outlook  Dental practices around the world are open  Visits to dentists for all treatments remain possible in most places and patient confidence seems stronger Market  With mass vaccination underway, the Group does not expect a Environment deterioration in the dental markets although economic rec

  21. Slide 21: Calendar of upcoming events

    41 41 Calendar of upcoming events 2021 Event Location 18 February Roadshow Morgan Stanley London (virtual) 26 February Roadshow Jefferies London (virtual) 01 March Morgan Stanley EU Medtech & Service Conference London (virtual) 04 March Credit Suisse Global Virtual Healthcare Conference London (virt

  22. Slide 22: Straumann's currency exposure

    Straumann’s currency exposure Revenue Breakdown FY 2020 Exchange rates development Jan 2019 - Dec 2020 110 100 90 80 70 60 12/2018 03/2019 06/2019 09/2019 12/2019 03/2020 06/2020 09/2020 12/2020 USDCHF EURCHF CNYCHF BRLCHF Total Cost Breakdown FY 2020 FX sensitivity Average exchange rates (rounded)

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