Straumann Holding AG · SIX:STMN
Straumann — Vontobel Summer Conference 2016
17 slides from Straumann's conference presentation, Jun 8, 2016
Slide 1: Becoming a 'Total Solution Provider' for tooth replacement
21.06.2016 Becoming a ‘Total Solution Provider’ for tooth replacement Marco Gadola, CEO presenting at the Vontobel Summer Conference Interlaken 7‐8 June 2016 Not allowed for further use without permission Disclaimer This presentation contains certain forward-looking statements that reflect the curre
Slide 2: Fund manager snapshot
21.06.2016 Fund manager snapshot Figures in Swiss francs Relative share price development 3 and 5 years Enterprise value: 6.0bn Net debt (-cash) : (117m) EBITDA: 221m (28% of sales) Normalized tax rate: 15% CAPEX: 35m (4% of sales) FCF: 151m (19% of sales) NWC: 63m (8% of sales) Divi
Slide 3: Financial performance last 5 years
21.06.2016 Financial performance last 5 years Organic growth vs. main peers Operating profit 9.1% 200 23.3% 30% 20.9% 6.4% 150 18.2% 17.3% 20% in CHF m 14.9% 100 3.2% 10% 1.2% 50 ‐1.0% 0 0% 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Straumann Main competitors Operating income Exceptionals Und
Slide 4: Leading market position; Strong momentum continues in Q1
21.06.2016 Leading market position Global dental implant market in 2015 (worth CHF 3.2bn1) Source: market research data & Straumann estimates 1 Includes implants, abutments, tools/instruments; 2 Market size at 2014 exchange rates = CHF 3.5bn 7 Strong momentum continues in Q1 Organic growth rates in
Slide 5: Largest growth contribution from EMEA; Full-year guidance raised
21.06.2016 Largest growth contribution from EMEA – positive trend across the board Revenue development (in CHF million, rounded) 15.4% in CHF 12.2% organic 8% LATAM 6.2 2.1 6.9 25% APAC 9.2 (0.3) 5.7 North 28% America 223.0 193.2 198.6 Change in organic growth 38% EMEA (0.2%) 3.0% 9.4% 12.5% 21.0% 1
Slide 6: Update on our strategic progress
21.06.2016 Update on our strategic progress Update on our strategic priorities Drive a high performance 1 culture and organization Target unexploited 2 growth markets & segments Become a total solution 3 provider for tooth replacement 13 6
Slide 7: Some large markets remain underpenetrated
21.06.2016 Some large markets remain underpenetrated Estimated implants placed in 2015 (in thousand units) and per 10 000 inhabitants (small number in italic) Russia 650 Germany (45) 1 100 Japan US (136) China 430 2 400 (75) Italy 980 (34) 1 200 (7) S.Korea (196) 2 200 India (412) 220 (2) Brazil 2 3
Slide 8: Example of actions taken to unlock the inherent potential
21.06.2016 Example of actions taken to unlock the inherent potential... Russia UK New subsidiary and Instradent price structure China North America Entry into value Strengthened education offering opened segment in H2 for starters in implantology Instradent Canada launch Turkey (Anthogyr) Joint
Slide 9: Entering the value segment in China and Turkey
21.06.2016 With Anthogyr we will enter the fast-growing value segment in China Straumann acquired a 30% stake in French company Anthogyr’s dental implant system is already established in China and positioned as a high-quality attractively-priced option Transfer of Anthogyr’s implantology busin
Slide 10: We are already a global player in the value implant market
21.06.2016 We are already a global player in the attractive value implant market Neodent home market Existing value organizations & distributors Medentika home market Expansion 2016 20 Our strategic priorities Drive a high performance 1 culture and organization Target unexploited 2 growth markets &
Slide 11: Potential to become the total solution provider
21.06.2016 Potential identified to become the total solution provider for dentists and labs Stock abutments Surgical planning & drill guides Conventionally CADCAM milling manufactured Bone & tissue regeneration DVT / 3D radiology systems Dental implants prosthetics on implants (crowns, bridges, bars
Slide 12: Implant type variations; tapered implant growth potential
21.06.2016 Implant type variations Efficient treatment Esthetics protocol ProArch Tissue Level Bone Level Bone Level Bone Level Tissue Level parallel-walled parallel-walled apically tapered fully tapered Ceramic /Monotype Dates indicate timing of full-market release in EMEA. Global market release de
Slide 13: Enlarging our restorative business
21.06.2016 Enlarging our restorative business – high quality multi-platform solutions Implant system Straumann Neodent Medentika For 3rd party Pre-fabricated Standard & pre- shaped abutment Medentika Titanium base abutment Medentika / etkon i-dent Pre-milled abutment Medentika / et
Slide 14: Intra-oral scanning technology
21.06.2016 Intra-oral scanning allows convenient and reliable impression taking Conventional process: 30 New intra-oral scanning technology – scaled distribution in the US Next generation technology – developed by Dental Wings for Straumann Small light handpiece Real-time 3D scanning; open STL
Slide 15: Dental materials; our future growth drivers in summary
21.06.2016 Equipment complemented by a large variety of dental materials Proprietary Common brands Distributed n!ce1 Cobalt-Chrom Vita® blocks Pre-milled abutment blanks Zirconia Ivoclar® blocks 1 New glass ceramic (lithium disilicate reinforced lithium aluminosilicate) with high flexural strength,
Slide 16: Questions & answers
21.06.2016 Questions & answers Calendar of upcoming events 2016 07/08 June Vontobel summer conference Interlaken 15 June Mainfrist healthcare tour Basel 04/05 July Investor meeting Toronto, Montreal 06 July Investor meetings New York 07 July Investor meetings Boston 23 August Half-year results publi
Slide 17: Straumann's currency exposure
21.06.2016 Straumann’s currency exposure Revenue breakdown FY20151 FX sensitivity Average exchange rates (rounded) CHF (+/- 10%) on full-year... Other 9% 2014 2015 YTD 2016 Revenue EBIT 19% 1 EURCHF 1.21 1.08 1.096 +/- 26m +/- 16m 1 USDCHF 0.92 0.96 0.99 +/- 20m +/- 7m BRL EUR 10% 33% 1 BRLCHF 0.389