Coltene Holding Ag · SIX:CLTN
Coltene — FY2021 Earnings Presentation
32 slides from Coltene's earnings presentation, Mar 4, 2022
Slide 1: Media and Financial Analysts Conference – Financial Year 2021
Workflow Media and Financial Analysts Conference – Financial Year 2021 Martin Schaufelberger, CEO Markus Abderhalden, CFO 4 March 2022
Slide 2: Safe Harbor Statement
Safe Harbor Statement This written statement and oral statements or other statements made, or to be made, by us contain forward-looking statements that do not relate solely to historical or current facts. These forward-looking statements are based on the current plans and expectations of our managem
Slide 3: Agenda
Agenda Media and financial analysts conference full year 2021 Review of the year 2021 Martin Schaufelberger, CEO Financials 2021 Markus Abderhalden, CFO Outlook Martin Schaufelberger, CEO Q&A All Financial Year 2021 3
Slide 4: Review of the Year 2021
Review of the Year 2021 Martin Schaufelberger, CEO
Slide 5: Highlights 2021
Highlights 2021 Significant growth and record result – Strong first half year with a rebound effect in net sales, combined with a low cost basis Key figures • Net sales CHF 279.2 mn (PY 248.4); +12.4% in CHF and +14.9% adjusted by FX and divestment of Vigodent • EBIT margin at a high 15.7% (PY 12.
Slide 6: Workflow Infection Control
Workflow Infection Control Instrument Reprocessing Surface Disinfection Financial Year 2021 6
Slide 7: Workflow Restoration
Workflow Restoration Financial Year 2021 7
Slide 8: Workflow Endodontic
Workflow Endodontic Financial Year 2021 8
Slide 9: Net Sales by Product Groups
Net Sales by Product Groups Products in the area Infection Control still in high demand in 2021 - rebound of other areas Net sales 2021 by product groups (shares) Net sales by product groups (in CHF mn) 2019 2020 2021 120 113 28.4% 104 34.5% 96 100 94 88 87 79 80 74 66 60 37.1% 40 20 0 Infection Con
Slide 10: Net Sales by Region
Net Sales by Region North America remains strongest market Net sales by regions (in CHF mn) 2019 2020 2021 139 125 128 120 98 98 100 82 80 60 40 33 28 31 18 20 11 12 0 LAM ASIA EMEA NAM (compared to 2019 the organic growth was 10.6%, at constant exchange rates and adjusted for the disposal of Vigode
Slide 11: Financials 2021
Financials 2021 Markus Abderhalden, CFO
Slide 12: Financial Summary 2021
Financial Summary 2021 Sharp rise in sales and profits thanks to a strong first half year Sales • Net sales up by 12.4% to CHF 279.2 mn • At constant FX rates and adjusted by the disposal of Vigodent net sales increased by 14.9% • Compared to 2019, also at constant FX rates and adj. by the disposa
Slide 13: Income Statement
Income Statement Rise of EBIT margin from 9.4% to 15.7% driven by rebound effects in sales and a low cost basis in CHF mn 2021 % 2020 % % YoY • Net sales increase driven by a strong recovery in dental preservation (+19.7%) and efficient Net Sales 279.2 100 248.4 100 12.4 treatment (+17.8%) • Gross p
Slide 14: EBIT Development 2020–2021
EBIT Development 2020 –2021 In CHF million 36,5% 6,2 9,5 5,4 43,8 0,4 20,8 32,1 8,8 23,2 EBIT 2020 Sale of Vigodent EBIT 2020 Volume effect Margin effect Personnel Other operating Depreciation & EBIT 2021 (adjusted) expense expense Administration Gross Profit increased due to Personnel Expenses incr
Slide 15: Net Profit
Net Profit Net profit boosted by excellent operational results – normalized tax rate Decrease in financial expenses: Tax rate decrease: Net profit increase: ➢ Last year’s financial expenses ➢ In previous year exceptionally high ➢ Net profit of last year impacted by the included a negative impact of
Slide 16: Balance Sheet
Balance Sheet Ensuring adequate liquidity and a healthy balance sheet in CHF million 31.12.2020 31.12.2021 % YoY • Decrease in cash due to the repayment of Cash & cash equivalents 38.5 25.7 -33.2% financial liabilities of CHF 17.9 mn Receivables 45.1 41.6 -7.8% • Increase in inventories mainly drive
Slide 17: Equity
Equity Increase of equity ratio while balance sheet remains stable In CHF million ➢ Total assets stable at CHF 187 mn ➢ Equity ratio: increased to 57.5% (Dec 2020: 48.1%) 300 57,5% 60 250 48,0% 48,1% 50 200 190 188 187 40 150 79 30 99 97 100 20 50 91 90 107 10 0 0 2019 2020 2021 Equity ratio Liabili
Slide 18: Cash Flow Statement
Cash Flow Statement Strong operating cash flow despite high taxes and investment in delivery capacity in CHF million 2020 2021 % YoY • Operating cash flow at a high level Net profit 8.2 31.7 286.6% despite taxes paid and investment in Depreciation and amortization delivery capacity 10.9 6.4 Other no
Slide 19: Cash Flow Statement
Cash Flow Statement In CHF million • NWC significantly driven by investment in delivery capacity and taxes paid • Dividend amounted to CHF 17.9 mn whereas the free cash flow stood at CHF 22.7 mn • Cash reduced by CHF 12.8 mn due to high repayment of financial liabilities 6,4 5,6 9,8 31,7 17,9 FCF +2
Slide 20: AGM 2022
AGM 2022 Proposals to the general assembly – pay-out increase by 10% to CHF 3.30 per share Re-election of the Distribution Compensation of the Group Auditor current members of the Board of Directors and Board of Directors Group Management Nick Huber, Erwin Locher, Board of Directors proposes For the
Slide 21: Outlook
Outlook Martin Schaufelberger, CEO
Slide 22: What Can we Expect in 2022?
What Can we Expect in 2022? Focus on sustainable growth Supply chain • Problems to source certain raw materials continue • Further price increases depend on inflation scenario • Price increases typically can be passed on with short delay Economic development • End of pandemic allow dentists goin
Slide 23: Our Main Focus for 2022
Our Main Focus for 2022 Focus on sustainable growth Digital experience of customers • IoT – digital service for our customers Further build infection control and endodontics business • Sales push in selected key countries with focus on endo and infection control Enlarge footprint in China – hi
Slide 24: Guidance 2022
Guidance 2022 Focus on sustainable growth Sales growth modestly above the market • Economic growth uncertain • COLTENE target modestly above market growth 15% EBIT margin confirmed as medium-term target • Challenge: Manage cost increase after pandemic as well as price increases (inflation) • Inv
Slide 25: Q&A
Workflow Q&A ” COLTENE
Slide 26: Annex
Annex 36 Years- Flexibility Marie-Désirée Fleischer, Colténe/Whaledent GmbH +Co. KG, Germany “ COLTENE
Slide 27: Dental Industry
Dental Industry Mega trends COVID-19 pandemic Globalization and e-commerce Increasing requirements in distribution regarding quality management and regulatory affairs (MDR) Negative trend in volume due to Digitalization in better oral health in Consolidation • the dental processes developed countrie
Slide 28: Organization
Organization Management Board of Directors Group Management Matthew Robin Stefan Helsing, COO Paul Frey, VP Sales & MarCom Martin Schlüter, VP R&D / Allison Zwingenberger Astrid Waser NAM Innovation Markus Abderhalden, CFO Werner Barth, VP Product Jürgen Rauch Roland Weiger Management / Group Market
Slide 29: COLTENE Overview
COLTENE Overview Altstätten (Switzerland) Top quality dental supplier • COLTENE develops, manufactures and markets Toronto (Canada) premium dental materials and small equipment for dental practices Dental Preservation / Efficient Treatment • 5 specialized manufacturing sites Langenau (Germany) • Med
Slide 30: Key Figures
Key Figures Five year overview in CHF million in CHF million Net Sales EBIT EBIT Margin in % 279.2 15.7% 280.0 273.8 49.0 16.0% 15.2% 260.0 248.4 45.0 240.0 41.0 14.0% 37.0 12.4% 220.0 204.0 11.7% 33.0 12.0% 200.0 29.0 180.0 168.0 25.0 9.4% 10.0% 160.0 21.0 25.5 25.4 32.0 23.3 43.8 140.0 17.0 8.0% 2
Slide 31: Share Performance
Share Performance Volatile financial market environment Share price Earnings per share/dividend 140 Earnings per Share Dividend 130 6.00 5.31 120 5.00 4.52 110 100 4.00 3.61 3.35 3.3 90 3.0 3.0 3.0 3.00 80 2.00 1.5 70 1.38 60 1.00 50 0.00 03.05.2020 03.07.2020 03.06.2021 03.08.2021 03.01.2020 03.02.
Slide 32: Visit us on our website: www.coltene.com
Visit us on our website: www.coltene.com COLTENE Holding AG Martin Schaufelberger, CEO Markus Abderhalden, CFO Feldwiesenstrasse 20 9450 Altstätten +41 71 757 53 80 [email protected]