Leading intimate healthcare Relations... · 2014-05-08 · Roadshow presentation – H1 2013/14 ....

Leading intimate healthcare Roadshow presentation – H1 2013/14

Forward-looking statements

The forward-looking statements contained in this presentation, including forecasts of sales and

earnings performance, are not guarantees of future results and are subject to risks, uncertainties

and assumptions that are difficult to predict. The forward-looking statements are based on

Coloplast’s current expectations, estimates and assumptions and based on the information

available to Coloplast at this time.

Heavy fluctuations in the exchange rates of important currencies, significant changes in the

healthcare sector or major changes in the world economy may impact Coloplast's possibilities of

achieving the long-term objectives set as well as for fulfilling expectations and may affect the

company’s financial outcomes.

Solid performance continued in Q2 2013/14

Very satisfactory organic revenue growth of

10% (7% in DKK) in H1

Reported EBIT 43% down due to a DKK

1bn provision related to mesh litigation

Continued strong underlying EBIT growth of

14% with a 33% EBIT margin

Interim dividend of DKK 844m (DKK 4 per

share)

Revised guidance for 2013/14:

− Organic revenue growth of ~9% (~7%

in DKK)

− Adjusted EBIT margin of 33-34% (~33%

in DKK)

− Reported EBIT margin of 25-26% (~25%

in DKK)

5.707 6.080

6

10

-5

0

5

10

0 1.000 2.000 3.000 4.000 5.000 6.000 7.000 8.000 9.000 10.000 11.000 12.000 13.000 14.000 15.000 16.000 17.000 18.000 19.000 20.000 21.000 22.000 23.000 24.000 25.000

H1 12/13 H1 13/14

Revenue (mDKK)

Organic growth (%)

1.756 997

31

16

-20

0

20

40

60

0 1.000 2.000 3.000 4.000 5.000 6.000 7.000

H1 12/13 H1 13/14

EBIT (mDKK)

Margin (%)

Highlights Performance

Other

developed

markets

Emerging

markets

Coloplast

Group

European

markets

Very satisfying organic growth of 10% in H1 2013/14

Reported revenue

mDKK

6,080

836

2,159

2,491

594

H1 13/14 revenue by geography

Organic growth

In percent

4,018

1,215

847

6,080

Continence

Care

Urology

Care

Wound &

Skin Care

Ostomy

Care

Coloplast

Group

H1 13/14 revenue by business area

Geographic

area

7%

11%

25%

10%

Business

area

9%

11%

10%

11%

10%

Reported revenue

mDKK

Organic growth

In percent

Growth remains solid in Ostomy Care driven by good performance in all sales regions

H1 organic sales growth was 9%

Growth continues to be driven by our

SenSura® product range in Europe and US

Our Brava™ accessories product range

also continues strong performance

especially in the US and Japan

Assura® product range remains a key

growth driver in emerging markets Brazil

and China

Fantastic feedback from nurses and

consumers to our new Sensura® products

(now launched in 10 countries)

1,2121,173

1,228 1,2371,273

1,218

8

5 5

2

54

57

87

10

7

Q1 Q2 Q3 Q4 Q1 Q2

12/13 13/14

Revenues (mDKK)

Reported growth (%)

Organic growth (%)

Comments Performance

Continence Care growth of 11% driven by Speedicath® intermittent compact catheter sales


Growth was driven by the SpeediCath®

portfolio of ready-to-use intermittent

catheters and in particular the compact

versions both in Europe and in the US

Our Conveen® collecting device portfolio

continues to deliver above market growth in

our key European markets

Peristeen® growth remains very

satisfactory

1,016

974

1,039 1,051 1,085 1,074

9

54

7 7

10

76 5

11 10

12

Q1 Q2 Q3 Q4 Q1 Q2

12/13 13/14

Revenues (mDKK)

Reported growth (%)

Organic growth (%)


Our Urology Care performance remains strong partly due to continued strong Altis® sling performance in Q2


Growth primarily driven by market share

gains in the US for Titan® penile implants

Our Altis® single incision slings continue to

grow strongly in both US and Europe

Sales of endourology products remain solid

especially in Europe

274

282288

280

295 299

13

6

9

5

86

11

7

10 10 119

Q1 Q2 Q3 Q4 Q1 Q2

12/13 13/14

Revenues (mDKK)

Reported growth (%)

Organic growth (%)


Our Wound & Skin Care business delivered 11% growth in H1 2013/14


Growth in Wound Care was 13%

Biatain® Silicone continues to drive growth

in Europe

Biatain® and Comfeel® perform well in

China, Brazil and Greece

Our Sween® Skin Care portfolio continues

satisfactory performance driven by

Interdry® sales in the US

Contract manufacturing of Compeed® saw

yet another strong quarter

Good feedback from pilot-launch of NPWT

solution in Brazil and Switzerland

363

413 403 402 410426

2 64 4

13

30

75

7

17

6

-20.0

-15.0

-10.0

-5.0

0.0

5.0

10.0

15.0

20.0

300

350

400

450

500

550

600

650

700

Q1 Q2 Q3 Q4 Q1 Q2

12/13 13/14

Revenues (mDKK)

Reported growth (%)

Organic growth (%)


Underlying profitability up 2%-point to 33% absorbing increasing investments in sales and marketing activities


On an adjusted basis EBIT grew 14% with

a 33% EBIT margin*

Gross margin came in at 68%, 1%-point

above same period last year

− Driven by improvements in production

− FX impacted <50bp (negative)

Capacity costs to sales down by 1%-points

in H1

− Distribution to sales increasing due to

increasing investments in sales and

marketing activities

− Admin costs to sales decreasing

impacted by efficiencies, lower project

costs and reversal of provision

− R&D costs to sales decreasing

897 859

943 973

1,013 984

31 30 32 33 33 33

67 67 68 68 68 69

Q1 Q2 Q3 Q4 Q1 Q2

12/13 13/14

EBIT (mDKK)

EBIT margin (%)

*

* The EBIT adjustment consists of mesh provision of DKK 1,000m . Reported EBIT margin for Q2 13/14 was -1% and for 1H 13/14 it was 16%.

Profitability drivers Profitability drivers – key ratios

7.05.8 5.9

5.64.6

3.94.4 4.3 4.13.1 3.3 3.0

42.1

38.7

35.433.4 32.4 31.530.4 29.5 29.4 28.8 28.5 28.7

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

08/09 09/10 10/11 11/12 12/13 13/14 YTD

Administration (%)

R&D (%)

COGS (%)

Distribution (%)

Free Cash Flow impacted by higher taxes paid in Q2

H1 free cash flow was DKK 796m,

compared with DKK 872m last year

− EBITDA before special items*

increased by DKK 194m from strong

commercial performance in the

company

− Tax payments increased by DKK

352m due to higher earnings and on

account taxes

− NWC before special items* increased

by DKK 208m but remained stable

relative to sales at approx 23%

− CAPEX increased 20% to DKK 220m

due to investments in machinery used

for new products

1,428 1,476 1,818

2,336 2,699

796

16 1518

21 23

13

1.0

10.0

08/09 09/10 10/11 11/12 12/13 13/14

YTD

FCF (mDKK)

FCF-to-Sales (%)


*Special items Q2 2013/14 includes DKK 1,000m provision for mesh

Free Cash Flow drivers

23.7 23.1 23.1 22.2 22.5 23.1

6.5

3.22.5

3.13.8 3.6

22.0

27.130.6

34.135.8 36.3

08/09 09/10 10/11 11/12 12/13 13/14 YTD

NWC-to-Sales (%)

CAPEX-to-Sales (%)

EBITDA margin (%)

Free Cash Flow drivers – key ratios

*

*Before special items

Interim dividends of DKK 4 per share will be returned to shareholders corresponding to DKK 844m after Q2

DKK 1bn share buy-back initiated in March

2014. DKK 143m has been executed in H1

2013/14

Dividend payments not impacted by

provision for mesh litigations in the US

Interim dividends of DKK 4 per share will be

returned to shareholders corresponding to

DKK 844m after Q2

Last trading including dividends will be May

8, 2014 and dividends will be paid to

investors May 14, 2014

500 500 500 500 143300

422 585 844

2,105

844300

9221,085

1,344

2,605

987

21

62 60 58

97124

08/09 09/10 10/11 11/12 12/13 13/14

YTD

Share buy-back (mDKK)

Dividends (mDKK)

Total payouts/FCF (%)


Guidance for 2013/14 is set for continued growth and further margin expansion

Guidance

13/14

Guidance

13/14 (DKK)

Long term

ambition

Sales growth ~9% (organic) ~7% Market+

EBIT margin

- Reported

- Before special items

25-26% (fixed)

33-34% (fixed)

~25%

~33%

Deliver margins in

line with the best

performing medical

device companies*

CAPEX (DKKm) ~500 ~4% of sales

Tax rate ~25% -

* Peers include: Medtronic Inc., Baxter International Inc., ConVatec Inc., Covidien PLC, Stryker Corp., St. Jude Medical Inc., Boston Scientific

Corp., Sonova Holding AG, Smith & Nephew PLC, CR Bard Inc., Getinge AB, WDH A/S, Shandon Weigao Group Medical

Coloplast Capital Market Day 2014

4 June 2014 in Copenhagen We would like to provide institutional investors and financial analysts with a business update and cover topics high on our agenda right

now. Further, we would like to provide the opportunity to engage in a dialogue with the broader management group in Coloplast.

Please contact Investor Relations for more details or for signing up for the days

Leading intimate healthcare Introduction to Coloplast

Page 16

Ostomy Care 42%

Continence Care 35%

Urology Care 10%

Wound & Skin Care

13%

European markets

67%

Other developed markets

20%

Emerging markets

13%

Coloplast has four main divisions with sales in both developed and emerging markets

Group revenue FY 2012/13 by segment Group revenue FY 2012/13 by geography

#1

#4

#1

X = Global position

11.6

Billion

DKK

11.6

Billion

DKK

#4

Coloplast specializes in intimate healthcare needs

Ostomy

Care

Continence

Care

Urology

Care

Wound

Care

People who have had their intestine

redirected to an opening in the

abdominal wall

People in need of bladder or bowel management

People with dysfunctional urinary and reproductive systems

People with difficult-to-heal wounds

Who are our typical users How do we help them?

SenSura® Mio Ostomy bag

SpeediCath® Compact male urinary catheter

Titan® Penile implant

Biatain® Silicone Foam wound dressing

Demographics Growing elderly population increases

customer base for Coloplast products

Expanding healthcare coverage for

populations in emerging markets increases

addressable market

Earlier detection and cure, eventually reduces

addressable market for Coloplast treatment

products

Economic restraints drive reimbursement

reforms, introduction of tenders, and lower

treatment cost

Emerging markets

Surgical and medical trends

Healthcare reforms

Intimate health care is characterized by stable trends

Coloplast has strong market positions in Europe and great commercial potential outside Europe

Ostomy Continence Urology Wound Care

Addressable

market

Size in DKK

Growth in %

13 -14 billion DKK

4 - 5% growth

~9 billion DKK

4 - 6% growth

9 -10 billion DKK

3 - 5% growth

~14 billion DKK

2 - 4% growth

Coloplast

market

share

40 - 50%

15 - 25%

35 - 45%

50 - 60%

25 - 35%

15 - 25%

10 - 20%

5 - 15%

5 - 15%

5 - 15%

0 - 10%

10 - 20%

Key

competitors

Key drivers

and limiters

• Ageing population

• Increasing access to

healthcare

• Health care reforms

• Re-use of products

outside Europe

• Ageing population

• IC penetration potential

• Up-selling

• Health care reforms

• Commoditization

• Ageing, obesity

• Underpenetration

• Cost consciousness

• Clinical requirements

• Less invasive/office

procedures

• Ageing, obesity, diabetes

• New technologies

• Healthcare reforms

• Competition

• Community treatment

Europe Developed Emerging

13-14bn

4-5%

~9bn

4-6%

9-10bn

3-5%

~14bn

2-4%

Our strategy is aiming at increasing both revenue growth and margins

• Continued growth in the core developed

markets in Europe

• Increased growth in the developed

markets outside Europe

• Further expansion and growth in

Emerging Markets

• Stabilization of the European Wound

Care business

• Globalization of Urology Care

• A strong new product pipeline

• Continued cost discipline and

operational excellence

Value creation will come from

increased growth based on a

strong new product pipeline

combined with continued cost

discipline and operational

excellence in manufacturing

Our strategy stands on three geographical legs all with interesting potential

Developed markets

outside Europe

Strong

potential for

market

share gains

Emerging markets

Educate,

create and

grow

selected

markets

Capture profitable

growth based

on high market

share

Europe

Markets outside our European stronghold holds significant longer term potential

Build on and

accelerate growth

platform e.g. in

• China

• Brazil

• Russia

• Argentina

Develop growth

platform e.g. in

• MENA

• Mexico

• India

• South Africa

• South East Asia

• Selected ROLA

markets

Selected markets

Increase

market share

in

• USA

• Canada

• Japan

• Australia

Operating leverage will generate funds for investments in growth

High value growth in Europe

Continued cost discipline

Generates funds for investments in

growth and leaves potential for

improving cost ratios

7.05.8 5.9

5.64.6

3.94.4 4.3 4.13.1 3.3 3.0

42.1

38.7

35.433.4 32.4 31.530.4 29.5 29.4 28.8 28.5 28.7

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

08/09 09/10 10/11 11/12 12/13 13/14 YTD

Administration (%)

R&D (%)

COGS (%)

Distribution (%)

11/12 12/13 13/14e

Incremental sales investments

Operational Excellence focus

focus areas

Cost efficient production with more potential for improvements

25 08 May 2014

Zhuhai

Minneapolis

Tatabánya Nyirbátor

Mørdrup

Thisted

Sarlat

Innovation &

Competency Centre

High Volume Production

Specialised Production

Mankato

60% 25%

10% 5%

Hungary

China

Denmark

US/ France

9%

15%

49%

9%

19% Salary - Direct

Salary - Indirect

Materials (RM & SFG)

Depreciations & amortisations

Other

Production by country*

COGS by cost type*

•Average usage of raw material (RM) and semi finished goods (SFG)

*FY 2012/13 Cost of goods sold, DKK 3,678 million

Lean in volume production

Re-design for manufacturing

Global sourcing and supplier relations management

Focus on fixed costs and environment

Cost effective distribution

Design for manufacturing & fast ramp-up

We expect continued value creation driven by...

Stable market trends in our Chronic Care

business

Increased focus on growing the business

outside Europe

Additional improvements in manufacturing

by leveraging on global operations footprint

European leverage will provide funds for

further investments in sales

Low CAPEX-to-sales ratio from high

capacity utilisation and lean factory

footprint

Resulting in strong free cash flow

generation and high return on invested

capital

4% 5%

23%

13% 11% 6%

45%

03'04 05/06 07/08 09/10 11/12 13/14 YTD

FCF to sales

ROIC after tax

10%

10%

10% 16%

9%

33%

03/04 05/06 07/08 09/10 11/12 13/14 YTD

Organic growth

EBIT Margin

*

* Adjusted for mesh provision of DKK 1,000m

*

Coloplast value proposition

Close relationships with nurses and end-

users provide leading market positions

within Ostomy & Continence Care

US and Emerging Markets hold high

potential in all our business areas

Stable long-term growth

potential

Growth and expansion

potential

Solid financial performance High return on invested capital

Strong free cash flow generation

Strong customer driven

innovation capabilities

Focus on providing more value for money

for end users and public payers

Appendices

Coloplast revenue development by business area Ostomy Care Continence Care

Urology Care Wound & Skin Care

Organic growth

Reported growth

Revenue

3,6213,949

4,2664,633

4,8491

9 8 9

54

7 76

7

-10

-5

0

5

10

1000

2000

3000

4000

5000

6000

7000

8000

08/09 09/10 10/11 11/12 12/13

2,9123,202

3,4563,831

4,0816

10

8

11

7

8 8 8 8

7

31,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

08/09 09/10 10/11 11/12 12/13

787 857938

1,0371,124

15

9

911

8

11 10

4

6

9

1

10

0

500

1000

1500

2000

2500

08/09 09/10 10/11 11/12 12/13

1,5001,529

1,512 1,522

1,581

32

-1

1

43

0-1 -1

5

-8

-6

-4

-2

0

2

4

6

1400

1450

1500

1550

1600

1650

1700

1750

1800

08/09 09/10 10/11 11/12 12/13

The Coloplast share (COLO’B-KO)

The Coloplast share listed on NASDAQ OMX

Copenhagen since 1983

Market cap. DKK ~97bn (USD ~18bn)

@ DKK 440 per share (incl. A shares)

Two share classes:

• 18.0 million A shares carry 10 votes

(family)

• 202.0 million B shares carry 1 vote

(freely traded)

• Free float approx. 55% (B shares)

Active sell-side analyst coverage by 25 brokers

As per 30 September, 2013

45%

6%

35%

4%

8% 2%

Share Capital Ownership

Holders of A-shares & family Danish Institutionals

Foreign Institutionals Coloplast A/S

Other shareholders Non-reg. shareholders

Capital structure policies

2,297

1,593

539

-1,042

-1,744

-949

1.2x

0.6x

0.2x

-0.3x-0.4x

-0.8x

08/09 09/10 10/11 11/12 12/13 13/14 YTD

NIBD (mDKK)

NIBD/EBITDA


• No interest bearing debt – will only be raised

in connection with a major acquisition

• Excess liquidity is returned to shareholders in

a combination of dividend and share buy-

backs

• Share buy-backs of DKK 500m per year

expected

• Dividend paid twice per year

Cash returns and share buy-backs

Total dividend of DKK 10.00 per share

in 2012/13

Share buy-back programme of DKK

1bn, to be completed before end of

fiscal year 2014/15

First part of DKK 500m started in

march 2014

Interim dividends of DKK 4 per share

will be returned to shareholders

corresponding to DKK 844m after Q2

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

-300

200

700

1.200

1.700

2.200

2003/0

4

2004/0

5

2005/0

6

2006/0

7

2007/0

8

2008/0

9

2009/1

0

2010/1

1

2011/1

2

2012/1

3

Ratio DKKm

Dividends Share buy-back Pay-out ratio

Current reform landscape

Stable reform environment

Intensifying reform pressure France - Healthcare authorities increasingly reluctant to

provide brand-specific reimbursement for wound

care products.

- Regular periodic review of OC and CC pending,

postponed to 2014/15.

UK Health and social bill now being implemented;

government seeing efficiency savings through of

Clinical Commissioning Groups (CCGs).

Germany No immediate reforms foreseen, but new healthcare

initiatives expected.

Holland Price review ongoing.

Spain European Court of Justice ruling on VAT increase (to

21%) for med devices unlikely to have impact on

Coloplast.

Italy Healthcare spending review (for regions) could

include med device spending caps and co-pays.

Greece Economic situation still volatile.

- Merger of sickness funds.

United

States

2014 -> Healthcare reform ongoing, budget pressures

and process could lead to volatile policymaking

• Colorectal cancer (est. 45%)

• Bladder cancer (est. 10%)

• Diverticulitis (est. 15%)

• Inflammatory bowel disease (est. 10%)

• Other (est. 20%)

• Nurses, mainly stoma care nurses

• People with a stoma

• Wholesalers/distribution

• Hospital purchasers and GPOs

• Surgeons

• Hospital & community nurses

• Hospital buyers

• Distributors

• Dealers

• Wholesalers

• Homecare companies

Introducing Ostomy Care Key products

SenSura® 1 and 2 piece

Launched in 2006-2008

Disease areas

Customer

groups

Call points

Assura® 1 and 2 piece

2nd generation launched

1996-2000

Distribution of

revenues*

Urostomy

Ileostomy

Colostomy

*Excluding baseplates and accessories

Easiflex®, 2 piece flex

Launched in 2003

Sensura® Mio, 1 piece

Launched in 2011

• Spinal Cord Injured, SCI

• Spina Bifida, SB

• Multiple Sclerosis, MS

• Benign prostatic hyperplasia, BPH &

prostatectomy patients

• Elderly

• Rehabilitation centers

• Urology wards

• Distributors, dealers & wholesalers

Introducing Continence Care

SpeediCath® Compact

Male intermittent catheter

Launched in January 2011

Conveen® Optima

external catheter

Launched in 05/06

Conveen® Security+

Launched in October 2013

SpeediCath®

intermittent catheter

Launched in 99/00

Disease

areas

Main call

points

Key products

Distribution of

revenues

Intermittent catheters

Urine bags

Male ext. catheters

Bowel mgt.

• Continence or home care nurses

• Wholesalers/ distributors


Customer

groups

Men's health

Women's health

DSU

Introducing Urology Care Treatment (surgical) of urological disorders

• Urinary incontinence

• Pelvic organ prolapse

• Erectile dysfunction

• Enlarged prostate

• Kidney and urinary stones

• Surgeons

• Purchasing departments and

organizations

• End customers

• Urologists

• Uro-gynaecologists

• Gynaecologists

• Purchasing departments and

organizations

Titan® OTR penile implant

Launched in 2008

Men’s health - Surgical Urology

JJ stents

Launched in 1998

Disposable Surgical Urology

Virtue® male sling

Launched in 2009

Men’s health - Surgical Urology

Disease areas

Customer

groups

Call points

Key products (implants and surgical disposables)

Distribution of

revenues

Altis® single incision sling

Launched in 2012

Women’s health - Surgical

Urology

Introducing Wound Care

Comfeel® Plus Transparent

• Transparent hydrocolloid

dressing

• Launched in 1994

New Biatain® Silicone

• Silicone adhesive and

foam dressing


Chronic wounds

• Leg ulcers

• Diabetic foot ulcers

• Pressure ulcers

Hospitals

• Wound care committees

• Specialist nurses/doctors

• (Purchasers)

Community


• General practitioners

• District/general nurses

• Large nursing homes

Biatain® Ag

• Antimicrobial foam dressing


Biatain®

• High exudate mgt.

foam dressing


Disease areas

Customer

Groups &

call points

Distribution of

revenues

(WSC)

Key products (Biatain® and Comfeel® range)

Biatain® range

Comfeel® range

Skin Care

Wound Care other

Contract manufacturing

Introducing Ostomy Care Accessories

Brava™ is a range of ostomy accessories designed to reduce

leakage or care for skin, to make our end-users feel secure. Brava™

was launched in April 2012 and the range includes 10 different

products.

Brava™ Mouldable Ring

• Durable to reduce leakage

• Nurses, mainly stoma care nurses

• People with a stoma

• Wholesalers/distribution


• Surgeons

Customer

groups &

call points

Market value

by geography

Key products

Emerging

markets

European

markets Other

developed

markets

Brava™ Elastic Tape

• Elastic so it follows the

body and movements

Brava™ Adhesive Remover

• Sting free and skin friendly

Brava™ Skin Barrier

• Reducing skin problems

without affecting

adhesion

Brava™ Lubricating

Deodorant

• Neutralizing odour

• Market size of DKK 1.5-2bn

• Market growth of 5-7%

• Market share 15%

• Main competitors include: Hollister

Adapt, ConvaTec, 3M Cavilon, Eakin

Market

fundamentals

Introducing Skin Care

InterDry ™ Ag

• Textile with antimicrobial silver

complex

• Unique solution for skin on skin

issues

Sween®

• Broad line of skin care products

• Designed to increase consistency of

care

• Moisture associated skin damage

• Incontinence

• Skin folds & Obesity

• Prevention of skin impairments

Hospitals

• Clinical Specialists

• Supply Chain

• Value Analysis Committee

Community

• Wound Clinics

• Long Term Care

• Home Health Agencies

• Distribution

Critic-Aid® Clear / AF

• Skin Protectant

• Suitable for neonate to geriatric

patients

Disease areas

Customer

groups &

call points

Product mix

Key products

Barriers Cleansers/Bathing Moisturizers Textile Other

EasiCleanse Bath ™

• Disposable Bathing Wipes

• Improves Patient Experience

Product market for US Skin Care

Market drivers

Aging and obese population

CMS Value Based Purchasing

Increase focus on prevention

Increase importance of utilization

management

Market limiters

Consolidation of Providers

Increased competition from both

Channel and Manufacturers

Market trends

Increase size and vertical integration

of health systems

Increasing importance of prevention

Increasing importance of utilization

management

Increasing scale and vertical

integration of market leaders

• US market size estimated at USD ~1bn with ~5% growth

• Market share: 5-10%

• Main competitors include

• Medline Industries

• Sage Products

• ConvaTec

Introducing Bowel Management

Peristeen® Anal Irrigation


• Updated in 2011

Faecal incontinence (management

products only)

Customer groups

• Spinal Cord Injured, SCI

• Spina Bifida, SB

• Multiple Sclerosis, MS

Call points

• Rehab centers

• Pediatric clinics

• Urology wards

Disease areas

Customer

groups &

call points

Distribution of revenues

Key products

Anal plug


Market drivers

• Growing awareness

• Huge under-penetrated and un-

served population

• New devices addressing the many

unmet needs

Market limiters

• Still taboo area and non-focus for

professionals (doctors)

• Very little patient awareness

• Training required (nurses, patients)

• Lack of reimbursement

Market

dynamics

Peristeen® Anal Irrigation

Anal plug

Introducing NPWT

extriCARE® 2400 Negative Pressure Wound Therapy (NPWT) Pump is

a lightweight, portable and battery-powered device that works with

anatomically fitted NPWT dressings to create a negative pressure

environment. A drainage tube connects to a canister adjacent to the

pump that collects exudates and bodily fluid. This may promote and

expedite wound healing. Today, NPWT is primarily a hospital market.

extriCARE™ was pilot-launched in Q1 2013/14 in Brazil and

Switzerland.

extriCare™ Pump

• Lightweight and portable

• Easy-to-use

• Affordable

• extriCare™ dressings

• Simple, all-in-one dressings

• 6 sizes and shapes

• extriCare™ foam kit

• Foam, film, suction bell

• Large and small sizes

Customer

groups &

call points

Market value

by geography

Key products

Emerging

markets

European

markets

• Market size of USD 2.5bn*

• Market growth of 5%

• Market share 0%

• Main competitors include: KCI, S&N

Market

fundamentals

Other

developed

markets

Hospitals

• Wound care committees


• (Purchasers)

Community


• General practitioners

• District/general nurses

• Large nursing homes

* Addressable market for Coloplast approx. USD 1bn

Executive management

Lars Rasmussen, CEO (55)

With Coloplast since 1988

Educational background

E*MBA, Scandinavian International Management Institute, 1995

BSc (Eng), Aalborg University, 1986

Management assignments with other Danish companies:

H. Lundbeck A/S (BM)

Lene Skole, CFO (55)

With Coloplast since 2005

Educational background

BCom, Copenhagen Business School, 1986

The A.P. Møller Group International Shipping Education, 1980

Management assignments with other Danish companies:

Tryg A/S (BM)

Alk Abelló A/S (BM)

Lene Skole, CFO

Lars Rasmussen, CEO

Corporate responsibility – external recognitions

Net revenue 6,080 5,707

Gross profit 4,162 3,824Gross margin 68.5% 67.0%

SG&A costs -1,986 -1,888

R&D costs -185 -195

Other Operation Inc/exp 6 15

EBIT before special items 1,997 1,756EBIT margin 32.8% 30.8%

EBIT after special items 997 1,756EBIT margin 16.4% 30.8%

Net financial items 25 -69

DKK millionH1

2013/14

H1

2012/13

Income statement

DKK million 31-Mar-14 30-Sep-13

Balance sheet total 9,278 9,364

Equity 5,847 6,769

Equity ratio (%) 63% 72%

Invested capital 6,194 6,320

Balance sheet

DKK millionH1

2013/14

H1

2012/13

EBITDA 1.206 2.012

Change in working capital -638 -226

Net interest payments, etc. 60 -32

Other 1.414 -228

Paid tax and other -1.045 -693

Cash flow from operations 997 1.059

CAPEX -220 -183

Other 19 -4

Cash flow from investments -201 -187

Free cash flow 796 872

Dividends -1.476 -844

Trading of Coloplast shares -126 -88

Other cash changes 0 0

Total -1.602 -932

Net cash flow for the year -806 -60

Cash flow

TCC Mørdrup

DK

• Adhesives

• Wound care products

• Continence care products

• Coloplast Consumer Products

• Number of employees in production: ~350

TCC Thisted

DK

• Machine development

• Ostomy care products


Production sites

Sarlat

FR

• Disposable surgical urology products


Minneapolis

US

Mankato

US

• Skin care products

• Ostomy care accessories


• Urology care products


Nyírbátor

HU

• Catheter care products

• Wound care products


Tatabánya

HU


• Adhesives


• Number of employees in production: ~1,200

Zhuhai

CN



• Machine building

• Number of employees in production: ~1,000

Tata

HU

• Postponement & packaging

• Cross docking

• Warehousing

• Distribution & shipping

• Number of employees: ~210

Contact Investor Relations

Nick Fridberg

Senior IR Manager

Investor Relations

Tel. direct: +45 4911 1456 /

office: +45 4911 1800

Fax: +45 4911 1555

[email protected]

Sara Fredskov Munch

IR Coordinator

Tel.: direct: +45 4911 3477 /

office: +45 4911 1800

Fax: +45 4911 1555

[email protected]

Holtedam 1

DK-3050 Humlebæk

Denmark

Ian Christensen

Vice President

Investor Relations

Tel. direct: +45 4911 1301 /

office: +45 4911 1800

Fax: +45 4911 1555

[email protected]

Ellen Bjurgert

IR Manager

Investor Relations

On maternity leave

mailto:[email protected]



Our mission

Making life easier for people

with intimate healthcare needs

Our values

Closeness… to better understand

Passion… to make a difference

Respect and responsibility… to guide us

Our vision

Setting the global standard

for listening and responding

Leading intimate healthcare Relations... · 2014-05-08 · Roadshow presentation – H1 2013/14 ....

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Transcript of Leading intimate healthcare Relations... · 2014-05-08 · Roadshow presentation – H1 2013/14 ....