months sales presentation Webcast for investors, analysts & media

Transcription

1 months sales presentation Webcast for investors, analysts & media Basel, 29 October 2015 Disclaimer This presentation contains certain forward-looking statements that reflect the current views of management. Such statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Straumann Group to differ materially from those expressed or implied in this presentation. Straumann is providing the information in this presentation as of this date and does not undertake any obligation to update any statements contained in it as a result of new information, future events or otherwise. The availability and indications/claims of the products illustrated and mentioned in this presentation may vary according to country. 2 1

2 and 9M highlights Marco Gadola, CEO M On track with strong underlying growth 9M REVENUE ORGANIC REVENUE GROWTH BEST REGIONAL PERFORMER CHF585m +8% APAC +9% 1 (+18% in l.c.) including Neodent contribution of CHF 46m since 1 March Momentum continues in, thanks to strong product cycle Driven by double-digit growth in China and Japan BLT IMPLANT STRATEGIC EXPANSION 2015 FY OUTLOOK > sold in first year Emerging markets On track Bone Level Tapered (BLT) implants available in >50 countries Subsidiary opens in Russia; distribution model in China complete; new hubs operational in LATAM...to achieve mid- to higher-single-digit organic revenue growth and underlying EBIT margin in low 20 s Organic growth i.e. excluding the effects of acquisitions, divestitures and currency exchange rates 2 Before business combination exceptionals (fair value adjustments to Neodent s acquisition-related inventory of CHF 13m) 2

3 Regional review Peter Hackel, CFO Strong organic growth across all regions double-digit in APAC Revenue development (in CHF million, rounded) (27.8) 11.8% in CHF % organic Organic growth (5.3%) 8.7% 5.4% 9.0% 19.1% 9.1% Revenue 9M 2014 FX Effect Acquisition Effect Adj. revenue 9M 2014 EMEA North America APAC LATAM Revenues 9M

4 Sustained pick-up in EMEA Continued strong growth in North America EMEA 44% (2.0%) 2014 Revenue change (organic) 8.3% 8.5% 7.0% 56% 2.4% 0.3% Q4 Q Another strong quarter fuelled by double-digit growth in Iberia, France and Sweden Germany continues to perform well Biomaterials from botiss: ideal complement to Straumann s implant portfolio North America 28% 5.4% % 9.3% Q4 11.6% Q % 6.1% Solid (+6%) but softer than high 2014 baseline (BLT launch) Strong demand for BLT implants Group now supplies 80% of implants placed by ClearChoice 7 Double-digit growth in Asia and LATAM Asia Pacific 16% Revenue change (organic) 34.5% Further share gains in Japan 56% Continuing roll-out of SLActive and 15.3% 17.0% 14.5% controlled market release of BLT in 12.8% 13.2% Japan Strong growth in China; all new distribution partners appointed 2014 Q4 Q LATAM 1 12% 6.5% % 14.0% Q4 8.3% Q % 1.3% Sequential slowdown in (+1%) after a strong, which benefitted from an increase in trading days Brazilian market remains sluggish CADCAM milling center operational in Brazil 8 1 Owing to the Neodent acquisition, Straumann re-allocated markets from the Rest of the World region to Latin America, with effect of 1 January The respective regional growth figures in the chart above have been recalculated on a proforma basis and include the Straumann as well as the Neodent business to allow for a true comparison. 4

5 Solid business performance lifted by strong growth in biomaterials Implants Restorative Biomaterials 9 Update on strategic progress Marco Gadola, CEO 5

6 New addition to Executive Management Board reflects strategic importance of Latin America Matthias Schupp, Head of LATAM and CEO of Neodent, joins Straumann s Executive team with effect of 1 January 2016 Strong track record in regional/country leadership Straumann: Head Straumann LATAM and Sales Neodent ; Regional Manager W. Europe P&G: Managing Director Professional Care Portugal Wella: Managing Director Russia Merck KGaA: Regional Manager LATAM and US Latin America generates >10% of revenue with >900 employees 11 Investing in underpenetrated markets Russia Subsidiary opened China Transition to new distribution set-up complete Japan New CADCAM milling center operational LATAM Hubs created in Colombia and Mexico serving both premium and value segments; Argentina to follow soon 12 6

7 New CADCAM milling center in Narita, Japan, begins operation on schedule 13 Transition to hybrid distribution model in China completed Straumann China >70 consultative sales representatives 20 independent distributors Heilongjiang Marketing, T&E Jilin Liaoning Logistics, administration Xinjiang Gansu Inner Mongolia Ningxia Beijing Tianjin Hebei Shandong Shanxi Qinghai Shaanxi Henan Jiangsu Main benefits: Ability to address fast-growing private practice sector more effectively Broader reach and greater control of customer base Fast market intelligence and ability to adapt Tibet Sichuan Yunnan Time of completion Chongqing Guizhou Guangxi Q4 14 Hainan Q Hubei Hunan Anhui Jiangxi Guangdong Fujian Zhejiang Shanghai 14 7

8 BLT roll-out in full swing High primary stability, fast-healing surface (SLActive) and superior strength (Roxolid) appreciated Broad treatment possibilities in compromised situations, esthetic region and immediate edentulous solutions Accounts for one in every eight Straumann implants sold 4000 customers now use BLT, >¼ of whom are new customers See customer experiences in EAO video ( 15 Straumann offers more options to Sirona users Agreement with Sirona: Straumann Variobase to be supported in the CEREC system Straumann milling centers listed as trusted providers in Sirona s inlab system Patent disputes between both companies settled chairside workflow 16 CEREC is a registered trademark of Sirona Dental Systems GmbH, Germany. 8

9 Further progess in strategy to be a total solution provider for dentists and labs Surgical Full regenerative portfolio (botiss) PURE BLT Abutments Variobase for CEREC Removable denture attachment Pre-milled abutments Restoration Chairside scanning & milling SR abutments Variobase family In-lab milling equipment Screw retained bars & bridges CARES X-Stream New inlab scanner DENTIST LABORATORY Surgeon GP / restorative Regional Local 17 New data on peri-implantitis presented at EAO favorable for Straumann implants Retrospective analysis of the effectiveness of dental implant therapy in a broad clinical setting in Sweden patients with 1578 implants from various manufacturers clinically evaluated 9 years after treatment In a recent publication, lead author J. Derks notes: Not only did S[traumann] implants show the lowest rates of early implant loss, they also presented with lower rates of moderate/severe peri-implantitis [compared with other implants evaluated in the study] 2 New data accepted for publication in the Journal of Dental Research 18 1 Effectiveness of implant therapy analyzed in a Swedish population: prevalence of peri-implantitis. Derks J, Schaller D, Håkansson J, Wennström JL, Tomasi C, Berglundh T. J Dent Res (2015) accepted for publication. ISBN print. 2 Ibid p. 57 9

10 Neodent/Instradent pleased with ITC verdict in NobelActive patent dispute ITC judge largely follows Neodent's arguments Nobel Biocare's main patent relating to key design features of NobelActive deemed invalid Sale of Neodent DriveCM and DriveCM Acqua implants continues in the US, offering an attractively-priced, high-quality alternative to NobelActive Neodent DriveCM 19 Unchanged outlook for 2015 Barring unforeseen circumstances Global implant market expected to continue growing in 2015 Group expects full-year revenue to grow organically in the mid- to higher-singledigit range Assuming that the currency exchange rates remain more or less at their 9M levels, the Group aims to achieve an EBIT margin in the low 20 s, before business combination exceptionals Fair value adjustments to Neodent s acquisition-related inventory of CHF 13m 20 10

11 Questions & Answers 21 Calendar of upcoming events October sales publication Webcast 17 November Investor meetings Edinburgh, UK 18 November Investor meetings London, UK 02 December Neodent Visitor Day Curitiba, BR January Baader Helvea Swiss Conference Bad Ragaz, CH 25 February Full year 2015 results conference Basel (HQ) 08 April AGM 2016 Basel 03 May Q1 sales publication Webcast 22 Results publication and corporate events. More information on straumann.com Events 22 11

12 Straumann s currency exposure BRL 9% Revenue breakdown H Other 19% CHF 10% EUR 34% Average exchange rates (rounded) FX sensitivity (+/- 10%) on M 2015 Revenue EBIT 1 EURCHF /- 13 million +/- 8 million 1 USDCHF /- 10 million +/- 3 million 1 BRLCHF /- 4 million +/- 1 million 100 JPYCHF /- 2 million +/- 1 million USD/CAD /AUD 28% Cost breakdown H BRL 8% Other 8% CHF 43% Development of Straumann s main exchange rates since USD/CAD/ AUD 22% 23 EUR % 1 These distribution charts represent the total net revenues and the total COGS as well as OPEX in the various currencies. All numbers are rounded and based on H figures and include Neodent since 1 March. USDCHF EURCHF JPYCHF BRLCHF Your contacts Fabian Hildbrand Corporate Investor Relations Tel. +41 (0) investor.relations@straumann.com Mark Hill Thomas Konrad Corporate Communications Tel. +41 (0) Tel. +41 (0) mark.hill@straumann.com thomas.konrad@straumann.com 24 12

13 International Headquarters Institut Straumann AG Peter Merian-Weg 12 CH-4002 Basel, Switzerland Phone +41(0) Fax +41(0)