Coltene Holding Ag · SIX:CLTN
Coltene — H1 2008 Earnings Presentation
13 slides from Coltene's earnings presentation, Aug 21, 2008
Slide 1: COLTENE Holding AG Half Year Results 2008
COLTENE Holding AG Half Year Results – 2008 Media and Analyst Conference Call Thursday August 21, 2008 1 Safe Harbour Statement Before we may start with the presentations, we need to remind you that the information made available in this conference call may include forward-looking statements that re
Slide 2: Highlights 1HY2008
Content • COLTENE – New Dental Standalone • Strengthened Management • Dental Business • Financials • Outlook • Q&A 3 Highlights 1HY2008 • Dental Business – at constant June 2007 translation rates – Sales up 8.4% vs. previous year – EBIT up 1.5% vs. previous year • Achieved 1.8 CHFm more in Net Sales
Slide 3: COLTENE at a glance....today
COLTENE at a glance….today • April 2008: sale of Medical business (Medisize) • New Dental stand-alone • Clear focus on dentistry, an attractive long-term growth market • Good profitability and continuously excellent free cash flows • Strong and solid balance sheet • Good base for organic growth and
Slide 4: Global Dental Market
Global Dental Market Annual Focus COLTENE Growth Rate >90% of the business 10% 5% Total Dental Market CHF 23.9 bn > Dental = 3.5% Growth Consumables 3% CHF 14.4 bn > 3.5% Growth = Market Size 7 Base for COLTENE Growth Strategy Product Innovation Geographical Acquisitions Expansion Partnerships 8
Slide 5: Growth: Achievements in 1HY2008
Growth: Achievements in 1HY2008 • Composite curing-lights business grew by >40% YoY (esp. LED lights) • Rotary instruments business increased by >30% in 1HY08 vs. 1HY07 (esp. CEI carbide burs) • Strong growth in condensation silicones (+20%) in emerging markets YoY • Endo line (i.e. fiber posts) gre
Slide 6: Growth: Achievements (cont.)
Growth: Achievements (cont.) • Affinis impression material for implants launched in June 2008 – will leverage A-Silicone business • Whole range of COLTENE products perfectly matches implantology procedures – Affinis impression product family – Cool Temp temporary material – Jet Blue Bite registratio
Slide 7: Growth – Geographical Expansion
Growth – Geographical Expansion • Focus on Emerging Markets – China: New COLTENE subsidiary successfully started and looking at doubling turnover in 2008 – India: documents for new subsidiary submitted to the authorities in 1HY2008 – Russia: active expansion activities led to high double digit growt
Slide 8: Further Highlights 1HY2008
Further Highlights 1HY2008 • CEI production increased to 3 shifts: gain of >30% in capacity • Strong increase of market-specific composite (filling material) in Latin America and Eastern Europe • Strengthened COLTENE brand by positioning the new dental stand-alone company • Expanded dealer network i
Slide 9: Financials 1HY2008
Financials 1HY2008 17 Growth in Net Sales 1'000 CHF 1 HY 08 % 1 HY 07 % % YoY Net Sales 81'915 100.0% 81'068 100.0% 1.0% Raw materials 22'665 27.7% 22'625 27.9% 0.2% Personnel expenses 29'336 35.8% 27'866 34.4% 5.3% Other expenses 18'314 22.4% 16'861 20.8% 8.6% Depreciation&amortization 2'084 2.5% 2
Slide 10: Solid EBIT (TCHF)
Solid EBIT (TCHF) 14'000 EBIT 08 adj EBIT 07 EBIT 08 9'516 11'734 11'565 12'000 10'000 8'000 6'000 4'000 Termin Forex 2'000 Inventory ation 1'042 295 0 19 High Profit for the Period 1'000 CHF 1 HY 08 % 1 HY 07 % % YoY EBIT 9'516 11.6% 11'565 14.3% -17.7% Financial result (net) -571 -0.7% -51 -0.1% 1
Slide 11: Excellent Free Cash Flow
Excellent Free Cash Flow 1'000 CHF 1 HY 08 %* 1 HY 07 %* % YoY CF from operations** 10'899 13.3% 7'125 8.8% 53.0% Purchase & proceeds PPE** -1'798 -789 Purchase fin. & intangibles** -179 -343 Purchase of subsidiaries** 0 -9'414 CF from investments** -1'977 -10'546 FCF prior acquisitions** 8'922 10.9
Slide 12: High Profit from Sale of Medical
High Profit from Sale of Medical 1'000 CHF 1 HY 08 Profit after tax discontinued operations 1-4 2008 1'419 Gain after tax on sale of discontinued operations 28'281 Profit from discontinued operations 29'700 Disposed assets discontinued operations 89'014 Disposed liabilities discontinued operations 2
Slide 13: Thank you very much for your attention! Q&A
Thank you very much for your attention! Q&A 25