Cochlear Plc Ord (CHEOF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Cochlear Limited FY25 results, analyst and media briefing. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Dig Howitt, CEO and President. Please go ahead. Good morning, everyone, and thank you for joining our results presentation. Let's get underway. And as always, we are starting with our mission. And our mission serves as a guide across the company, but there's two important points. One is the purpose that sits in our mission enables us to attract outstanding people. And the other thing it reminds us of is the long-term nature of our business and the long-term nature of our strategy to help more people hear and be heard. And so I wanted to start the presentation today with a look at our 25-year financial history. And I'm doing that to put in context the F25. So as you've already seen, our sales were below our expectations for 25. And then it's really a question of how do we respond and I want to put the how do we respond to lower sales in the context of history. So if you look at these charts and starting on the left with our R&D, the investment in R&D, that's the most consistent chart on this page. So R&D has increased year on year. When sales have gone down, that R&D investment has continued to lift. So our first response when our sales are not where we expect them to be is to make sure that we protect R&D, and we do that because it's the core of the business. It enables us to retain our market leadership position, but it's also the performance of our products that sets us up to get ...