Investor & journalist presentation EUHA Niels Jacobsen, President & CEO Søren Nielsen, COO Jes Olsen, President of Oticon Medical

Transcription

1 Investor & journalist presentation EUHA 2015 Niels Jacobsen, President & CEO Søren Nielsen, COO Jes Olsen, President of Oticon Medical

2 Agenda General update Hearing Devices Hearing Implants Q&A Niels Jacobsen Søren Nielsen Jes Olsen 2

3 Well positioned for future growth in the hearing healthcare market with product launches from all business activities Hearing Devices CAGR 0-2% value growth 2014 USD 6bn 2020 USD ~8bn Diagnostic Instruments Boneconduction systems CAGR 3-5% value growth CAGR 10-15% value growth 24% 25% 10% 7% 69% 65% USD 4bn USD 0.4bn CAGR ~5% market growth Cochlear implants CAGR 10-15% value growth Hearing Devices Hearing Implants Diagnostic Instruments * William Demant estimates. Wholesale value. 3

4 The hearing healthcare market Strong competition among players Offerings Hearing instruments Diagnostic instruments Boneconduction systems Cochlear implants 4

5 Group underlying development Significant losses in forward contracts in H Reported Adjustments Adjusted DKK million H H Change H H H H Change Revenue 4,539 5,043 11% ,986 5,149 3% EBIT % % EBIT margin 18.4% 17.4% 17.7% 19.3% Note: 1) H1 2014: Revenue and EBIT adjusted to reflect FX applied in H as well as eliminating the impact of hedging and other transactional effects. Furthermore, EBIT is adjusted to neutralise an earn-out gain of DKK 36 million booked in H ) H1 2015: Revenue and EBIT adjusted to eliminate the impact of hedging and other transactional effects. 5

6 Hearing Devices Søren Nielsen, COO 6

7 William Demant hearing instruments Clear multi-brand strategy 7

8 Oticon Inium Sense a strong platform to grow on The Group s biggest launch ever has been very successful! 8

9 New features have been very well received The Inium Sense platform has driven market share gains 9

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11 Power market overview This is our reality and opportunity The power market Power market is estimated to cover 25% of the total HI market Definitions MPO Ultra Power 144+ Super Power Performance Power Performance Moderate >130 Market by HI output Ultra Power 3% Super Power 10% Performance Power 12% 11

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13 Highest output ever from a 13 BTE 143dB SPL/82dB Innovative access to the inaudible Speech Rescue More speech details than ever Speech Rescue and Speech Guard E Effective feedback control Inium Sense feedback shield SP Personalisation to meet individual preferences YouMatic for Super Power Fitting flow for bimodal balance Bimodal fitting protocol Power your brain

14 Speech Rescue TM Key benefits What does it mean for your patient? Provides access to high-frequency sounds and more speech details Helps the user perceive speech more clearly to support engagement in conversations Supports the user s brain in making sense of sound for increased speech understanding 14

15 Frequency Lowering Visualisation Frequency Lowering Low frequency High frequency Compression Transposition Translation Composition Adaptive 15

16 What does all this mean? 16

17 Paediatrics a sense of urgency High risk of auditory deprivation Without proficient hearing intervention, the brain of a child suffering from severe hearing loss is likely to undergo cross-modal re-organisation 17

18 Highest output ever from a 13 BTE 143 db/82 db Innovative access to the inaudible Speech Rescue TM More speech details than ever Speech Rescue TM and Speech Guard E Effective feedback control Inium Sense feedback shield SP Power your senses Meeting highest safety and reliability standards LED, IP58 and hypoallergenic Fitting flow for bimodal balance Bimodal fitting protocol

19 Empower children at every stage of childhood Auditory development - Amplification strategy Infants Pre-schoolers School age Teenager Less sound awareness requires higher levels for responses than adults Temporal resolution and localisation abilities approach maturity at around 6 years of age Sound-source segregation and auditory attention continue to develop and mature The ability to attend to and extract information is still developing 19

20 20 Provide the brain the rich stimulation that it needs

21 Clinical evidence Comprehensive documentation and clinical evidence Complete Ongoing Fully agreed upon, but yet to be initiated Aug-Jan 2015 Transitioning Getting used to Oticon Power Adam Walters and Piers Dawes, University of Manchester Aug-Jan 2015 Case fittings Get the basics right Audiologists Gina Angley and Todd Ricketts Aug-Nov 2015 Usability of bimodal protocol KIPA group (multi-site) June-Nov 2014 Paediatric and adult FL test Ryan McCreery, Boys Town Aug 2015 Frequency lowering with Speech Guard Research on adults, Joshua Alexander, Purdue University Jan-Jun 2014 Frequency lowering Technical analyses of Oticon FL settings, Joshua Alexander, Purdue University Aug Paediatric and adult FL test incl. bimodal candidates Double blind-field test with Super Power devices FL On/Off, Ryan McCreery, Boys Town Aug-Feb 2015 Development of bimodal fitting protocol CI audiologist Carisa Reyes, Boys Town Jul-Nov 2015 Sensei SP FL fitting Acoustic Analysis of Super Power FL Susan Scollie, University of Western Ontario, Toronto 21

22 Plus Power Power made beautiful Plus Power the smallest 138 MPO instrument in the world High-fidelity sound 30% more processing power and innovative speaker Support the brain in making sense of sound BrainHearing Technology Personalisation to meet individual preferences YouMatic for severe to profound hearing losses Effective feedback control Inium Sense feedback shield Meeting highest safety and reliability standards IP58, nano-coated, robust construction Power made beautiful 22

23 A full line supplier - Building on the Inium Sense platform Further strengthening the power and paediatric segments 23

24 Join us on our journey of transition Power your brain Power made beautiful Power your senses 24

25 Bernafon 25

26 WL Accessories Hearing Instruments Bernafon update Introducing Nevara 1 and beflex NEVARA 1 SAPHIRA 3 SAPHIRA 5 JUNA 7 JUNA 9 SAPHIRA 3 P SAPHIRA 5 P JUNA 7 P JUNA 9 P CARISTA 3 CARISTA 5 ACRIVA 7 ACRIVA 9 INIZIA 1 INIZIA 3 SUPREMIA 3 SUPREMIA 7 RC-N SG 3 App SG Mic. FittingLink 26

27 Bernafon beflex a revolution in fitting An industry first! A revolution in hearing aid fitting! Up to three hearing aid performance levels programmed into one single demonstration device! 27

28 BeFlex: Key Benefits at a Glance Patient Benefits: Dispenser Benefits: Easy comparison of technology levels Ability to test in daily environments More convincing and transparent purchasing process Minimizes post-purchase doubts and hearing aid dissatisfaction Availability to test all categories in the clinic at all times Counselling focus on tangible, audible user benefits Efficiency gains in clinic Reduction of inventory Creates trust and transparency 28

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30 Nevara 1 the new standard in Basic AudioEfficiency technology is now also available in the Basic category: A complete product family: 4 BTEs, including the new Power BTE Adaptive Noise Reduction Plus 5 ITEs, including the wireless CIC Adaptive Feedback Canceller Plus Speech Cue Priority RC-N remote control compatible New: Automatic directionality Nano NanoRITE CPx BTE P Audio Efficiency Technology 30

31 Bernafon has also improved in Power Introducing the BTE Power New Power Plus BTE with a 13 size battery Line extension for Juna 9 7 and Saphira 5 3 Also available in Nevara 1 Attractive Bernafon dual-colour and S shape design following the signature Nano BTE Ear hook or minifit thin tube Wireless compatible Wireless programmable DAI/FM adapter Programming plug (no adapter required) Dual microphone T coil Multicontrol 13 size battery tamper-resistant battery drawer 31

32 Sonic update Introducing the Cheer family of products Category BTE / RIC Custom Super Power 100 Celebrate Celebrate 80 Celebrate Celebrate Journey 60 Cheer Cheer 40 Cheer Cheer Journey 20 Cheer Cheer 32

33 Sonic Cheer family Introducing BTEs, ITEs and accesories Nearly invisible IIC to powerful ITE models The convenience of wireless connectivity at a great value New! Power BTE and Compact Power Plus for more severe needs 33

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35 Hearing Implants Jes Olsen, President Oticon Medical

36 Accomplishments since the acquisition of Neurelec Significant investments for the future Fully integrated distribution activities with WDH and strong coordination between distributors Sales growth over market growth due to better funding for clinical research Prepared for growth with expanded capacity in Nice Strong pipeline with launches in 2015, 2016 and 2017 Fully integrated R&D with access to WDH technologies and infrastructure Successful re-branding and preparations for launch of the first Oticon Medical CI system Strong focus on getting access to US and China 36

37 37 Introducing the Neuro cochlear implant system

38 Neuro cochlear implant system Designed for a future of sounds Neuro One Oticon technology inside Coordinated adaptive processing Designed for living Neuro Zti Ultra-compact design Powerful, future-ready technology Proven atraumatic electrode arrays 38

39 Neuro availabilty Registrations in all major markets started up in summer Pre-launch clinical trials at five major CI clinics as we speak Launch in EU markets (CE only) in Q4 39

40 Other critical registrations CFDA (China) Best case, we get registration for both BAHS and CI at the beginning of 2016 FDA (USA) Negotiating clinical study design with FDA, expect to start trials at the beginning of 2016, which should lead to registration in H or in early

41 Ponto system a better way to the optimal hearing experience 41

42 BAHS technology and procedure go hand in hand Longer abutments More stable implants Patient benefit Less invasive techniques Earlier activation 42

43 Oticon Medical introduces: MIPS a truly new perspective on tissue preservation Suture-free surgery no scarring Tailor-made surgical components Minimising post-op complications One week Post-op 43

44 Strong preference among surgeons No 6% No difference 13% Slightly worse 0% Yes 94% Slightly better 37% Much better 50% Are you likely to continue to use the MIPS procedure? Using MIPS, do you feel that you help your patients in a better way? 44 Holmberg et al. OSSEO 2015 Congress

45 Ponto BHX implant Biohelix TM Wide Ponto implant with Biohelix TM Builds on the proven OptiGrip geometry Improved biomechanical fixation while being safe Promoting faster healing kinetics Invented by experts: The result of research from the origin of osseointegration in Sweden Dr Rickard Brånemark Prof. Peter Thomsen 45

46 Ponto BHX implant launch in Q x Bone bonding the next level of osseointegration: First laser-ablated pure titanium surface Stronger than bone Highest stability from day one x x x

47 Abutment extender solving the critical cases Extends the abutment by 1 mm Solves critical fitting cases without any surgical intervention like replacing the abutment Launch in Q4 Counter-torque wrench Adaptor Abutment extender Abutment 47

48 Q & A Time for questions Q&A 48