Slide 1: Cochlear Limited 2009 Annual General Meeting
For personal use only JODI ALLION (mother) LEAH Miami, USA Cochlear Limited 2009 Annual General Meeting Ibis Room Marriott Sydney 36 College Street Sydney NSW Tuesday 20th October 2009 1
Slide 2: Chairman and Company Secretary
For personal use only Mr Tommie Bergman Chairman Mr Neville Mitchell Company Secretary 2
Slide 3: CEO and Director
For personal use only Dr Chris Roberts Chief Executive Officer/ President Prof Ed Byrne AO Director 3
Slide 4: Directors
For personal use only Mr Rick Holliday-Smith Director Mr Paul Bell Director 4
Slide 5: Directors
For personal use only Mr Donal O’Dwyer Director Mr Andy Denver Director 5
Slide 6: Proceedings
For personal use only Proceedings • Chairman’s Address • CEO’s Address • Formal Resolutions 6
Slide 7: Chairman's Address: Introduction
Cochlear Limited For personal use only 2009 Annual General Meeting Mr Tommie Bergman, Chairman’s Address Introduction • Cochlear achieved record revenue, NPAT and cash generation despite global economic turmoil • Revenue up 15% to $694.7 million • NPAT up 13% to $130.5 million • $146.6 million of ca
Slide 8: Total Shareholder Return and Record Financial Results
Total Shareholder Return (TSR) For personal use only 3 year period 3 year TSR Cochlear’s TSR performance ranking in ASX 100 F05 – F07 196.4% 10th F06 – F08 35.2% 22nd F07 – F09 17.5% 16th Cochlear: Record financial results for F09 F09 F08 $ millions $ millions +% Cochlear Implants sales 614.0 504.8
Slide 9: Financial Results and Dividends
Financial Results For personal use only • Revenue growth in all regions • Investment in R&D up 21% to a record $96.7 million • New products were ready for commercial release by year end • Future product developments advanced Dividends • Total dividend for the year 175 cents, up 17% on prior year • 9
Slide 10: Capital Management and Long Term Growth Strategy
Capital Management For personal use only • Conservative approach to debt proved appropriate in the 2009 financial climate • Net debt at 30th June 2009 was $108.6 million • Gearing ratio improved to 23% • High interest expense cover of 26 times • Corporate debt facility renegotiated to $300 million f
Slide 11: Long Term Growth Strategy
Cochlear’s Long Term Growth Strategy For personal use only • Long term growth strategy unchanged • Strategy remains focused on sustainable growth through four areas: – Cochlear Implants – Electro-Acoustic Stimulation (EAS) – Bone Conduction Implants – Baha – Direct Acoustic Cochlear Stimulation (DAC
Slide 12: Remuneration and Outlook
Remuneration For personal use only • Governed by Cochlear’s independent Remuneration Committee • Transparency in remuneration disclosures maintained • Non-executive director and executive pay increases deferred • Over 1,000 employees are shareholders Outlook • With a suite of new products, Cochlear
Slide 13: CEO's Address: F09 Growth Continues
Cochlear Limited For personal use only 2009 Annual General Meeting Dr Chris Roberts CEO’s Address F09: Growth Continues….. 13
Slide 14: Construction started on new Macquarie University facilities
Construction started on new facilities at Macquarie University For personal use only 14
Slide 15: Product Innovation: Cochlear Baha BP100
Product Innovation – Cochlear Baha BP100 For personal use only The Cochlear Baha BP100 is the crystal clear choice for people with conductive, mixed or single sided hearing loss… y Improved hearing performance, through multi channel, advanced automatic signal processing y Amplification strategies de
Slide 16: Nucleus CI512 Cochlear Implant
Cochlear™ Nucleus® 5 system Nucleus® CI512 For personal use only Cochlear Implant Thin. Strong. Precise. Nucleus® CI512 Cochlear Implant Breakthrough in cochlear implant technology Thin Strong Precise WORLD’S THINNEST 2.5 TIMES MORE PRECISION STIMULATION COCHLEAR IMPLANT IMPACT RESISTANT* FOR LEADIN
Slide 17: Nucleus CP810 Sound Processor
Nucleus® CP810 Sound Processor For personal use only Sophisticated design and technology made simple Performance Design Confidence • SmartSound™ 2 – better • Smallest and slimmest • Built on a titanium Nucleus® sound hearing in any processor foundation and tested to environment last • Ergonomically
Slide 18: Speech Performance
Speech Performance Nucleus CP810 delivers improved perception in noise For personal use only • Statistically significant improved performance in noise with Zoom setting • The new Nucleus CP810 sound processor incorporates enhanced input processing – Specific algorithm (Zoom) to generate super direct
Slide 19: Nucleus CP810 Design and CR110 Remote Assistant
Nucleus® CP810 Sound Processor For personal use only Design SMALL, SOPHISTICATED, COMFORTABLE • Small and slim sound processor • Ergonomic design • Improved comfort and retention • Smaller coil Standard 13 g Compact 10.9 g with disposable with compact batteries rechargeable battery 51 mm 42 mm 9 mm
Slide 20: Remote Assistant Monitor and In Summary
Nucleus® CR110 Remote Assistant For personal use only Monitor Press the ‘Cochlear’ ONE BUTTON CHECK button and it automatically checks the status of processing unit, battery module, coil and coil cable • Parents can see at a glance that the processor is working • Range up to 2m (6 ft) In Summary • C
Slide 21: Business of the Meeting
For personal use only Cochlear Limited 2009 Annual General Meeting Business of the Meeting 21
Slide 22: Resolution 1: Financial and Other Reports
Resolution No. 1 For personal use only Financial and other reports To receive and consider the Company’s Financial Report, Directors’ Report and Auditor’s Report in respect of the financial year ended 30 June 2009. Resolution No. 1 Financial and Other Reports Proxy Summary • Total number of proxy vo
Slide 23: Resolution 2: Remuneration Report
Resolution No. 2 For personal use only Remuneration Report To consider and, if thought fit, to pass the following non-binding resolution: 2.1 “THAT the Remuneration Report be adopted” Resolution No. 2 Remuneration Report Proxy Summary • Total number of proxy votes cast 31,842,886 100% • Votes in fav
Slide 24: Resolution 3: Re-election of Directors
Resolution No. 3 For personal use only Re-election and election of directors To consider and, if thought fit, to pass the following resolutions as ordinary resolutions: Rick Holliday-Smith / Career Summary Non-Executive Directorships Cochlear Limited Director, February 2005 – Present Chairman of Aud
Slide 25: Rick Holliday-Smith Career Summary
Rick Holliday-Smith / Career Summary For personal use only Executive Career Australia 10 Years experience in merchant banking, at Director level, firstly with Intermarine Australia Ltd, a Subsidiary of Marine Midland Bank NA and then with Wardley Australia Limited, a Subsidiary of the HongKong and S
Slide 26: Resolution 3.1 Proxy Summary
Resolution No. 3.1 For personal use only Re-election of directors – Mr Rick Holliday-Smith Proxy Summary • Total number of proxy votes cast 31,842,886 100% • Votes in favour of the resolution 27,346,549 86% • Votes to be cast at the discretion of the proxy 626,325 2% • Votes against the resolution 3
Slide 27: Andrew Denver Career Summary
Andrew Denver / Career Summary For personal use only Pall Corporation President, Pall Asia Pacific 2002 – 2005 US Filter Corporation Chief Operating Officer, Filtration and Separations Group 1997 – 2002 Memtec Limited President and Chief Operating Officer, Memtec Limited 1987 – 1997 Baxter Healthcar
Slide 28: Resolution 3.2 and Resolution 4
Resolution No. 3.2 For personal use only Re-election of directors – Mr Andrew Denver Proxy Summary • Total number of proxy votes cast 31,842,886 100% • Votes in favour of the resolution 31,209,609 98% • Votes to be cast at the discretion of the proxy 625,355 2% • Votes against the resolution 83,268
Slide 29: Resolution 4.1 and Resolution 5
Resolution No. 4.1 For personal use only Approval of issue, allocation or transfer of securities to the CEO/President under the Cochlear Executive Long Term Incentive Plan (“CELTIP”) Proxy Summary • Total number of proxy votes cast 31,842,886 100% • Votes in favour of the resolution 30,837,665 97% •
Slide 30: Resolution 5.1 and Close of Meeting
Resolution No. 5.1 For personal use only Renewal of Proportional Takeover Provisions Proxy Summary • Total number of proxy votes cast 31,842,886 100% • Votes in favour of the resolution 30,868,428 97% • Votes to be cast at the discretion of the proxy 625,746 2% • Votes against the resolution 368,991
Slide 31: For personal use only
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