2014 first-quarter revenue - straumann · 2020-04-10 · 2014 first-quarter revenue conference call...

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29.04.2014 1 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 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. Disclaimer

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Page 1: 2014 First-quarter revenue - Straumann · 2020-04-10 · 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 This presentation contains certain forward-looking statements

29.04.2014

1

2014 First-quarter revenueConference CallBasel, 30 April 2014

2

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.

Disclaimer

Page 2: 2014 First-quarter revenue - Straumann · 2020-04-10 · 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 This presentation contains certain forward-looking statements

29.04.2014

2

2014 YTD Highlights Marco Gadola, CEO

Promising start to 2014; strongest quarter in three years

4

REVENUE GROWTH1 MAIN CONTRIBUTOR

CHF 180m +6% Europe

Performance reflects investments in growth markets, new products launches and soft baseline

Strongest quarter in 3 years. Continued improvement over 4 quarters.

Return to growth after 2 years of decline; contributes 41% of Q1 growth

BEST PERFORMERS MULTIBRAND STRATEGY ITI WORLD SYMPOSIUM

ROW & APACBiodenta, MegaGen & botiss

Leading academic event

Another strong quarter in LATAM and further improvements in Japan

Strategic investments/partnerships to strengthen presence in the value segment and in regenerative dentistry

Event used to promote new research and customer solutions

1 All growth rates in local currencies

Page 3: 2014 First-quarter revenue - Straumann · 2020-04-10 · 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 This presentation contains certain forward-looking statements

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5

Leading academic event in oral implantology

~4200 participants

Straumann Corporate Forum attended by >2000 dental professionals

Special promotions offered

Highly successful ITI World Symposium –platform to promote new research and solutions

Regional and business reviewThomas Dressendörfer, CFO

Page 4: 2014 First-quarter revenue - Straumann · 2020-04-10 · 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 This presentation contains certain forward-looking statements

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7Straumann, Nobel Biocare, Zimmer Dental, Biomet 3i, Dentsply Implants - based on company and SEC reports as well as management comments

4 consecutive quarters of solid growth

-12%

-10%

-8%

-6%

-4%

-2%

0%

2%

4%

6%

8%

10%

Market for tooth replacement & restoration (leading implant companies)

Straumann l.c. growth

5.2%4.1% 8.3% 28.6%

Change in l.c.

8

Good growth across all regions

(3.1%)

2013 2014

6.0% in l.c.

In CHF million

2.9% in CHF

174.8

‐5.2

169.6

4.12.2 1.7

2.2

179.8

Revenues Q12013

FX Effect Revenues Q12013 @ FX

2014

Europe North America APAC ROW Revenues Q12014

Page 5: 2014 First-quarter revenue - Straumann · 2020-04-10 · 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 This presentation contains certain forward-looking statements

29.04.2014

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Europe & N. America – main growth contributors

56%

Return to growth in nearly all European countries

New implant price structure; customers upgrade to premium Roxolid implants

Spain and Nordics deliver strongest performance

4.1%

(1.4%)(3.4%)

0.2%

(7.7%)

Q1 2014Q4 2013Q3 2013Q2 2013Q1 2013

Eu

rop

eN

ort

h A

mer

ica Revenues 5% ahead of previous

year

Mid-single-digit growth in the US and Canada

Strong demand for Roxolid and the Bone-Level implant range

Revenue change (organic)

25%

9

5.2%

11.0% 9.1%

10.6%

2.1%

Q1 2014Q4 2013Q3 2013Q2 2013Q1 2013

57%

Japan rebounds; LATAM dynamic

56%

Good growth in APAC driven by Japan

SLActive Tissue Level implant launch stimulates growth in largest Asian market

Currency headwind (mainly JPY) cuts regional growth by 11% points

8.3%

16.3%

7.9%

0.9%

-4.4%

Q1 2014Q4 2013Q3 2013Q2 2013Q1 2013

Asi

aP

acif

icR

est

of

Wo

rld

28.6%

1.8%

35.1%

4.1%-2.6%

Q1 2014Q4 2013Q3 2013Q2 2013Q1 2013

Q1 revenue climbs 29% (l.c.)

Strong performances in Mexico and Brazil

Neodent also posts double-digit growth in Q1

Erratic distributor ordering patterns

12%

5%

10

Revenue change (organic)

Page 6: 2014 First-quarter revenue - Straumann · 2020-04-10 · 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 This presentation contains certain forward-looking statements

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Implants

Solid growth in implants and prosthetics

Restorative Regeneratives

11

Good strategic progressMarco Gadola, CEO

Page 7: 2014 First-quarter revenue - Straumann · 2020-04-10 · 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 This presentation contains certain forward-looking statements

29.04.2014

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13

Founded in 2002, MegaGen is one of Korea’s fastest-growing dental implant companies

Straumann purchases 3%-interest-bearing convertible bonds for a total of CHF 27 million

Capital injection will accelerate MegaGen’s expansion plans

Option to convert bonds into shares in 2016 and to obtain a majority stake in MegaGen

Foothold in the value segment of the Asia/Pacific region

Investment in MegaGen to drive expansion in value implant segment in Asia

Exclusive rights for Straumann to distribute botiss products in most Western/Central European countries and the Americas

Botiss to distribute Emdogain® in Germany, parts of Eastern Europe and Middle East

Leading position for dental bone & tissue regeneration in Europe; growing globally

Extensive range of proven biologic materials

Straumann to start selling in Europe in Q4; other regions to follow in 2016/17, pendingclearances

14

Combining strengths with botiss to provide complete regenerative solutions worldwide

Page 8: 2014 First-quarter revenue - Straumann · 2020-04-10 · 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 This presentation contains certain forward-looking statements

29.04.2014

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A combination to eclipse the market leader

15 *US only

Straumann botiss Geistlich

Bone allografts *

Bone xenografts

Bone synthetic grafts

Bone blocks

Custom bone blocks

Bone rings

Collagen cones

Fleeces & sponges

Membranes

Soft-tissue grafts

Biologics

Common platform fortechnology & production

Separate-brand strategy to address premium and value segments

16

Brazil

49%

2012

Germany

51%

2013

TaiwanConvertible bond

2014

KoreaConvertible bond

2014

Spain

30%

2013

Canada

44%

2011

GermanyDistribution & call option

2014

Germany

CADCAM

2014

Premium Value

Page 9: 2014 First-quarter revenue - Straumann · 2020-04-10 · 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 This presentation contains certain forward-looking statements

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2014 outlook helped by an exciting roll-out program

18

New prosthetic components for fixed full-arch restorations launched at ITI congress

Enhanced screw-retained prosthetic solution especially for edentulous patients

New range of screw-retained implant abutments offering increased flexibility

Low profile, different gingiva heights

0°, 17° and 30° angulations for challenging situations where the posterior implant has to be tilted

Very positive reactions in pre-market tests

Page 10: 2014 First-quarter revenue - Straumann · 2020-04-10 · 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 This presentation contains certain forward-looking statements

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New

SR

ab

utm

ents

Value-adding solutions to meet clinician and patient needs

19 Bubble sizes illustrate market volume potential

Single tooth Multiple tooth Edentulous

Ceramic implants

Standard implant solution

packages

Simpleedentulous solutions

Fixed immediate edentulous solutions

Smaller, less invasive implants

Implants for narrow spaces

Esthetic, fast implant solutions with single crown / small bridge

Low

High

Cost-effective, open platform restoration

Lev

el o

f so

ph

isti

cati

on

Str

aum

ann

O

NE

Cer

amic

im

plan

t

Rox

olid

Str

aum

ann

V

ari

ob

as

e

20

We expect the global implant market to develop positively in 2014 and our revenue to grow in the low-single-digit range (l.c.).

After a promising Q1, we expect a softer Q2 given the later Easter break this year.

We will continue to invest in dental growth markets and to extend the reach of our non-premium offering.

Despite this, and thanks to the full impact of our cost-reduction measures last year, we expect to further expand operating income margin in 2014.

In the mid-term, we aim to return to solid growth with further operating margin improvements.

Outlook for 2014 unchanged Barring unforeseen circumstances

20

Page 11: 2014 First-quarter revenue - Straumann · 2020-04-10 · 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 This presentation contains certain forward-looking statements

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21

Questions & Answers

Calendar of upcoming events

2 0 1 4

30 April First quarter sales Audio webcast

05 May Investor meetings Milano

06 May Investor meetings Munich

11-12 June Vontobel Swiss Conference Interlaken/CH

13 June Deutsche Bank Swiss & German Conference Berlin

26 August Half-year 2014 results conference Basel HQ

23 October Third quarter sales Audio webcast

2 0 1 5

24 February Full-year 2014 results conference Basel HQ

Detailed calendar on www.straumann.com

2222 Publication and corporate events

Page 12: 2014 First-quarter revenue - Straumann · 2020-04-10 · 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 This presentation contains certain forward-looking statements

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23

Straumann’s currency exposure

Cost breakdown 20131

Revenue breakdown 2013

1 These distribution charts represent the total net revenues and the total COGS as well as OPEX expenses in the various currencies. All numbers are rounded and based on 2013 figures.

Average exchange rates (rounded) FX sensitivity (+/- 10%) on...

FY 2013 YTD 2014 Revenue EBIT

EURCHF 1.23 1.23 +/- 25 million +/- 15 million

USDCHF 0.93 0.90 +/- 17 million +/- 7 million

JPYCHF 0.95 0.87 +/- 4 million +/- 2 million

Development of Straumann’s main exchange rates since 2012

23

EUR 40%

CHF 12%

USD / CAD / AUD 28%

Other 20%

EUR 21%

CHF 45%

USD / CAD /

AUD 22%

Other 12%

60

80

100

120

2012 2013 2014

USDCHF EURCHF JPYCHF

Your contacts

Fabian Hildbrand

Corporate Investor Relations

Tel. +41 (0)61 965 13 27

Email [email protected]

Mark Hill Thomas Konrad

Corporate Communications

Tel. +41 (0)61 965 13 21 Tel. +41 (0)61 965 15 46

Email [email protected] Email [email protected]

24

Page 13: 2014 First-quarter revenue - Straumann · 2020-04-10 · 2014 First-quarter revenue Conference Call Basel, 30 April 2014 2 This presentation contains certain forward-looking statements

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International Headquarters

Institut Straumann AGPeter Merian-Weg 12CH-4002 Basel, SwitzerlandPhone +41(0)61 965 11 11Fax +41(0)61 965 10 01www.straumann.com