Coltene Holding Ag · SIX:CLTN
Coltene — H1 2016 Earnings Presentation
27 slides from Coltene's earnings presentation, Aug 5, 2016
Slide 1: Half-Year Results 2016
Half-Year Results 2016 Media and Financial Analysts Conference Call Driven by Innovation Gerhard Mahrle – CFO COLTENE Holding AG August 5, 2016 COLTENE – AN INTERNATIONALLY LEADING DEVELOPER, MANUFACTURER AND SELLER OF CONSUMABLES AND SMALL EQUIPMENT FOR DENTAL PRACTITIONERS.
Slide 2: Safe Harbor Statement
Safe Harbor Statement The information made available in this presentation 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
Slide 3: Operational Review
BRILLIANT EverGlowTM The glow of the art Operational Review „The quality and cost-effectiveness of COLTENE products are underscored by the strong demand witnessed in the EMEA and Asia regions, outpacing overall market growth. The improvement in operating results is proof of COLTENE's agility in resp
Slide 4: Higher Sales and Substantially Higher Margins
H1 2016 HIGHLIGHTS Higher Sales and Substantially Higher Margins Total Sales of CHF 75.6 million in H1 2016, +3.2% compared to previous year SALES High one digit sales growth in EMEA (+7.5%) and Asia (+8.8%), lower sales in North America (-0.8%) and Latin America (-6.5%); Emerging markets (+4.8%) EB
Slide 5: EMEA and Asia Gaining Momentum
NET SALES BY REGION EMEA and Asia Gaining Momentum in CHF million H1 2014 H1 2015 H1 2016 Latin America 35 31.7 9.2% 30 Asia 27.0 13.1% 25 42.0% EMEA 20 2016 H1 15 9.9 10 7.0 35.7% 5 North America 0 EMEA North America Asia Latin America 5
Slide 6: Restoration Strongest, Endodontics Evolving
NET SALES BY PRODUCT GROUP Restoration Strongest, Endodontics Evolving in CHF million H1 2014 H1 2015 H1 2016 Other Infection 25 Control 6.0% Restoration 19.2 6.3% 20 Rotary Instruments 25.4% 15.8 15.6 8.2% 15 9.6 10 2016 H1 12.6% 6.2 Treatment 4.8 4.5 Auxiliaries 5 20.9% 0 20.6% Endodontics Prosthe
Slide 7: Challenging Market and Currency Environment
DENTAL CONSUMABLES MARKETS Challenging Market and Currency Environment Impact EMEA: Recovery in Southern and Eastern Europe, CIS region and Middle East ++ Asia: Continued dynamic growth in China, slowdown in India + MARKETS North America: Ongoing destocking at major distributors, sell-out +3.0% +/-
Slide 8: Envisaging Further Growth through Improved Efficiency
MANAGEMENT ACTIONS Envisaging Further Growth through Improved Efficiency Implementation of strategic goals 2016-2018 focusing on Sales & Marketing activities, Innovation management and Partnerships STRATEGY Sales & Marketing: Expansion and optimization of activities pursuant to market potential and
Slide 9: Innovation Management as a Top Priority at COLTENE
DRIVEN BY INNOVATION Innovation Management as a Top Priority at COLTENE Continuous monitoring of market trends and new customer needs Focus on product groups with the greatest business potential Worldwide coordination of knowledge management through a common innovation process Projects with the high
Slide 10: Recently Launched Products
DRIVEN BY INNOVATION Recently Launched Products Restoration BRILLIANT EverGlow™ BRILLIANT Crios State-of-the-art universal CAD/CAM composite blocs submicron hybrid composite for permanent restoration Endodontics HyFlex™ EDM GuttaFlow® bioseal Highly flexible and resistant Bioactive cold filling syst
Slide 11: Entry into Future-Oriented Digital Dentistry
INNOVATIVE PRODUCTS Entry into Future-Oriented Digital Dentistry BRILLIANT Crios composite blocs launched in Q1 2016 For chairside manufactured inlays, onlays, crowns and veneers, ideal for implant restoration Official material partner to Sirona’s CEREC CAD/CAM system, compatible with various CAM de
Slide 12: Financials
GuttaFlow® bioseal Expansion meets adhesion Financials „COLTENE’s global setup extends far beyond an on-the- ground presence in Europe, North America, Latin America and Asia. It also acts as an incubator of innovation, fosters the international exchange of knowledge and gives the Group a natural cur
Slide 13: Increase in Sales and Solid Balance Sheet
FINANCIAL SUMMARY H1 2016 Increase in Sales and Solid Balance Sheet Net Sales of CHF 75.6 million Sales increase of 3.2% compared to H1 2015, +1.0% at constant exchange rates SALES EMEA and Asia above expectations, North America and Latin America below Sales in Brazil up by 8.6% in local currency EB
Slide 14: Substantial Increase in Profitability
INCOME STATEMENT Substantial Increase in Profitability Comments Net sales increase 3.2%; in LC in CHF million H1 2016 % H1 2015 % % YoY 1.0%; positive FX impact of Net Sales 75.599 100.0% 73.288 100.0% 3.2% CHF 1.6 million on net sales Material expenses* -20.899 -27.6% -21.929 -29.9% -4.7% The incre
Slide 15: High Equity Ratio and Low Net Debt
BALANCE SHEET High Equity Ratio and Low Net Debt Comments in CHF million 30.06.16 31.12.15 YoY Reduction of cash & cash equivalents in the Cash & cash equivalents 8.7 14.6 -5.9 amount of CHF 5.9 million and increase of Receivables 33.6 33.1 0.5 bank loans in the amount of CHF 1.2 million refer to th
Slide 16: Positive Free Cash Flow
CASH FLOW STATEMENT Positive Free Cash Flow in CHF million H1 2016 H1 2015 % YoY Comments Net profit 7.179 3.767 90.6% Only slight increase of Cash flow from Depreciation and amortization 2.758 2.725 1.2% operations despite a significantly higher net profit because of an increase of the Other non ca
Slide 17: Attractive Share Performance
SHARE PERFORMANCE Attractive Share Performance COLTENE SPI in CHF Earnings per Share Dividend 90 4.00 80 CAGR: 18.2% 3.00 70 2.00 60 1.00 50 40 0.00 2011 2012 2013 2014 2015 17
Slide 18: 5-Year Overview of the Key Figures
FINANCIALS OVERVIEW 5-Year Overview of the Key Figures in CHF million in CHF million Net Sales EBIT EBIT Margin in % 80.0 10.0 9.0 13.0% 76.0 75.6 75.0 7.3 7.4 75.0 73.0 73.3 8.0 6.9 6.5 11.0% 11.9% 6.0 70.0 9.4% 9.7% 9.8% 9.0% 4.0 8.8% 65.0 2.0 7.0% 60.0 0.0 5.0% H1 2012 H1 2013 H1 2014 H1 2015 H1
Slide 19: Outlook
Outlook „COLTENE plans to focus HyFlexTM EDM on enhancing growth in A miracle of flexibility the 2016-2018 period. The and fracture resistance continued implementation of globally harmonized marketing and branding initiatives, innovation and beneficial partnerships are essential enablers of COLTENE'
Slide 20: Focus on Profitable and Sustainable Growth
OUTLOOK AND PRIORITIES Focus on Profitable and Sustainable Growth Participation in general market growth in dental consumables of 2-3% MARKETS Exploit growth opportunities spurred by megatrends such as ageing population, growing middle class and increasing importance of emerging markets Gradual impr
Slide 21: Company Mission
Company Mission „COLTENE ’s overriding aim is to offer dental professionals and their patients worldwide convenience, benefit and value through an innovative range of products covering a wide spectrum of dental care, designed to ensure optimal outcomes while making treatments easier, safer and more
Slide 22: COLTENE – At a Glance
PORTRAIT COLTENE – At a Glance Swiss based small cap with worldwide Highly recognized global brands for sales through dental distributors and chair-side dental consumables about 200 sales representatives Development and operations in Europe, Strong emerging market position with North America and Bra
Slide 23: Full Spectrum of Dental Care
PORTRAIT Full Spectrum of Dental Care Restoration Endodontics Prosthetics The Restoratives product group contains all the The Endodontics range is focused on products for In Prosthetics, COLTENE offers a broad range of products used in restorative treatment procedures. root canal therapy, which enta
Slide 24: Highly Experienced Group Executive Management
PORTRAIT Highly Experienced Group Executive Management Vice President R&D Group CFO Vice President Sales Group CEO Vice President Marketing Werner Mannschedel Gerhard Mahrle Christophe Loretan Martin Schaufelberger Werner Barth Since 2015 Since 2014 Since 2015 Since 2012 Since 2015 Before: Before: B
Slide 25: Global Setup
PORTRAIT Global Setup North America Group companies 2 Europe Production sites 1 GERMANY, Langenau Group companies 10 Workforce (FTE) 314 Production sites 2 Workforce (FTE) 377 USA, Cuyahoga Falls (OH) SWITZERLAND, Altstätten Asia Pacific Group companies 3 Production sites 0 Workforce (FTE) 75 Middle
Slide 26: Many thanks for your attention!
Many thanks for your attention! COLTENE – AN INTERNATIONALLY LEADING DEVELOPER, MANUFACTURER AND SELLER OF CONSUMABLES AND SMALL EQUIPMENT FOR DENTAL PRACTITIONERS.
Slide 27: 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 27