Straumann Holding Ag · SIX:STMN
Straumann — FY2012 Earnings Presentation
15 slides from Straumann's earnings presentation, Feb 21, 2013
Slide 1: 2012 Full-year results
2012 Full-year results Analysts’ & Media Conference Basel, 21 February 2013 Disclaimer This presentation contains certain “forward-looking statements”, which can be identified by the use of terminology such as “will”, “guidance”, “would”, “prevailing”, “still be able to”, “should”, “confidence in ac
Slide 2: Highlights: What is happening in the markets?
Highlights Gilbert Achermann Chairman & Acting CEO What is happening in the markets? Weak economy in Europe Dampened consumer confidence Patients postponing complex treatment or taking cheaper/inferior options Growth potential in North America intact Momentum has eased, slower patient traffic Fundam
Slide 3: Adapting from growth to cost optimization and selective expansion
What is happening in the markets? Increased competition From low-cost/inferior alternatives including conventional tooth replacement Dental labs under pressure to find optimal levels of production, outsourcing, efficiency and quality New technologies Digital procedures and workflows Optimized materi
Slide 4: Business and regional review
Business and regional review Thomas Dressendörfer CFO Main factors influencing profitability Softer top line performance (volumes) Continued investment in Marketing & Sales in key growth markets, and in new organizational structures Investments in R&D to drive innovation pipeline Efficiency improvem
Slide 5: Performance on like-for-like basis
Performance on like-for-like basis in CHF million FY 2011 FY 2012 Change Reported excl. FX adjusted Reported excl. vs. adjusted 1 1 exceptionals exceptionals Revenue 693.6 693.6 697.5 686.3 686.3 (1.6%) excl. iTero discontinuation (1.0%) 528.5 528.5 531.9 531.5 534.4 Gross profit Gross profit margin
Slide 6: Implants stable, restoratives soft, regeneratives strong
Implants stable, restoratives soft, regeneratives strong Implants Restoratives Regeneratives Straumann 11 Underlying gross margin improved despite lower volumes In % of sales 1.3% -0.2% -0.4% 1.0% -0.6% 0.1% 77.9% 77.3% 77.5% 76.2% Gross profit FX effect Production Adjusted gross Improved COGS Inv
Slide 7: Investments in R&D, M&S and projects constrain EBIT
Investments in R&D, M&S and projects constrain EBIT In % of net revenue 1.7% -1.3% 5.8% -0.1% -1.2% -1.8% -3.1% -2.5% 17.2% 14.5% 11.5% 8.9% EBIT 2011 Impairment1 FX effect Adjusted Gross profit SG&A Project R&D EBIT 2012 Impairmant3 Cost EBIT 2012 EBIT 2011 costs 2 excl. optimization exceptionals &
Slide 8: Improved NWC partly offsets lower profit; Europe struggling to recover
Improved NWC partly offsets lower profit and higher tax payments Cash & equivalents 1 Jan 2012 CHF 377 million - Operating Cashflow CHF 115 million - CAPEX (CHF 19 million) In CHF million - Investments in Neodent, Dental Wings (CHF 266 million) - Dividend (CHF 58 million) - Others 3.0 -32.0 Cash & e
Slide 9: North America growth opportunities intact; strong emerging markets
North America – Growth opportunities intact Full-year revenue grows 6% Attractive fundamentals - continued selective investment in Marketing & Sales Q4: temporary dip due to: iTero discontinuation, hurricane Sandy, and fiscal/political uncertainty (in CHF million) Q4 11 Q4 12 % CHF FY 11 FY 12 % CHF
Slide 10: Building for the future: Neodent
Building for the future Gilbert Achermann Chairman & Acting CEO Neodent impresses in 2012 and offers exciting opportunity in South America Net revenue Growth BRL 196m +17% (approx. CHF 93m) EBITDA >40% Net profit Margin BRL 53m 27% Straumann Straumann holds a 49% stake in Neodent with an option to
Slide 11: Digitalization; Straumann prevails in Swiss and German courts
Digitalization – the way forward CARES 8.0 Visual to launch at Chicago Midwinter Integration of CARES into ‘open’ DWOS platform complete CARES ‘Scan & Shape’ service roll out beyond Germany and US Stake in Dental Wings increased to 44% Straumann 21 Straumann prevails in Swiss and German courts The
Slide 12: Outlook: new leadership
New leadership to revitalize growth and lift margins Marco Gadola joins as new CEO Excellent understanding of Straumann and its business Proven track record as engaging and entrepreneurial leader Straumann 23 Outlook 12
Slide 13: Outlook 2013 / Questions & answers
Outlook 2013 Barring unforeseen circumstances Straumann’s performance is expected to face continuing constraints due to the economy and consumer sentiment in Europe, while growth markets like North America, China and Brazil should continue to perform well. Straumann will continue to invest selective
Slide 14: 2012 Annual Report; Calendar of upcoming events
2012 Annual Report – pre-print version available Comprehensive value reporting Interviews, corporate governance, compensation report, environmental report, outlooks, etc. GRI checked to level B Reporting quality recognized in Swiss awards Straumann 27 Calendar of upcoming events 26 February Invest
Slide 15: Your contacts
Your contacts Fabian Hildbrand Corporate Investor Relations Phone +41 (0)61 965 13 27 Mobile +41 (0)79 392 80 32 Email [email protected] Mark Hill Thomas Konrad Corporate Communications Phone +41 (0)61 965 13 21 Phone +41 (0)61 965 15 46 Email [email protected] Email thomas.konrad