leading intimate healthcare - coloplast relations... · 2014. 8. 27. · other developed markets...
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Leading intimate healthcareRoadshow presentation – 9M 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.
Page 2
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2.699 3.047
31 33
-20
0
20
40
60
01.0002.0003.0004.0005.0006.0007.0008.0009.000
9M 12/13 9M 13/14
Adj. EBIT (mDKK)
Adj. EBIT margin (%)
Solid performance continued – heading towards another record full year
Satisfactory organic 9M revenue growth of 9%
(6% in DKK)
Adjusted 9M EBIT margin before special items
33.1% - up 2.0% compared to LY
Reported 9M EBIT margin 22% - depressed by
mesh provision in Q2
New long-term guidance published at CMD in
June
Executive management expanded from 2 to 4
Maintained 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)
8.665 9.2146
9
-6
-1
4
9
01.0002.0003.0004.0005.0006.0007.0008.0009.00010.00011.000
12.00013.00014.00015.00016.00017.00018.00019.00020.00021.00022.00023.00024.00025.000
9M 12/13 9M 13/14
Revenue (mDKK)
Organic growth (%)
Highlights Performance
Page 3
-
Other
developed
markets
Emerging
markets
Coloplast
Group
European
markets
9% organic growth in the first nine months of 2013/14
Reported revenue
mDKK
9,214
1,264
3,288
3,764
898
9M 13/14 revenue by geography
Organic growth
In percent
6,128
1,817
1,269
9,214
Continence
Care
Urology
Care
Wound &
Skin Care
Ostomy
Care
Coloplast
Group
9M 13/14 revenue by business area
Geographic
area
6%
10%
24%
9%
Business
area
8%
11%
10%
10%
9%
Reported revenue
mDKK
Organic growth
In percent
Page 4
-
Our Ostomy Care business grew 8% driven by Sensura® and Brava™
9M organic sales growth of 8%
Key growth drivers:
− SenSura® portfolio in Europe and US
− Sensura® Mio launched in 12 countries
− Brava™ accessories range especially in
the US
− Assura® portfolio in emerging markets
such as Brazil and China
Growth in Europe impacted partly by reform
in France and lower general momentum in
several key countries
Comments Performance
Page 5
1,173
1,228 1,2371,273
1,218
1,273
55
2
54 4
7 8 7
10
7 6
Q2 Q3 Q4 Q1 Q2 Q3
13/14
Revenues (mDKK)
Reported growth (%)
Organic growth (%)
-
Continence Care growth continues strong momentum with fourth consecutive quarter with double digit organic growth
9M organic sales growth of 11%
Key growth drivers:
− SpeediCath® ready-to-use intermittent
catheters - in particular the compact
versions - both in Europe and in the US
− Conveen® collecting device portfolio
continues to good growth in key
European markets. Recently we have
had great success with a consumer
campaign in France
− Peristeen® growth remains very
satisfactory
Comments Performance
Page 6
974
1.039 1.051 1.085 1.074
1.129
5 4
77
10 9
6 5
1110
12 10
Q2 Q3 Q4 Q1 Q2 Q3
13/14
Revenues (mDKK)
Reported growth (%)
Organic growth (%)
-
Urology Care performance remains strong – Titan penile implant remains key growth driver
9M organic sales growth of 10%
Key growth drivers:
− Titan® penile implants is the main driver
of growth (US business)
− Altis® single incision slings continue to
grow strongly both the US and in Europe
− Endourology products maintains solid
growth especially in Europe
Comments Performance
Page 7
282288
280
295 299304
6
9
5
86 6
7
10 10 119 9
Q2 Q3 Q4 Q1 Q2 Q3
13/14
Revenues (mDKK)
Reported growth (%)
Organic growth (%)
-
Double digit growth of 10% in Wound & Skin Care driven by good global Biatain® performance
9M organic sales growth in WSC of 10%
9M organic sales growth in WC of 11%
Key growth drivers:
− Biatain® Silicone continues to drive
growth in Europe
− Biatain® and Comfeel® perform well in
China, Brazil and Greece
− Skin Care portfolio growing only
moderately YTD after a strong start of the
year. Interdry® sales is a key growth
driver.
− Contract manufacturing of Compeed®
has strong growth momentum
Comments Performance
Page 8
413 403 402 410426 428
64 4
13
36
75
7
17
69
-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
Q2 Q3 Q4 Q1 Q2 Q3
13/14
Revenues (mDKK)
Reported growth (%)
Organic growth (%)
-
Operating margin once again at all time high despite increasing investments in sales initiatives
Comments Performance
9M EBIT before special items grew 13%
with a margin of 33%*
9M gross margin up by 1%-point 68%
− Key driver is improvements in
production efficiency
− Minor negative FX impact
9M capacity costs to sales down by 0.9%-
points
− Distribution to sales flat – total of
approximately 150 mDKK incremental
investments in sales initiatives YTD
− Admin costs to sales decreasing
impacted by efficiencies, lower project
costs and reversal of provision
− R&D costs to sales decreasing
Page 9
* The EBIT adjustment consists of mesh provision of DKK 1,000m. Reported EBIT margin for 9M 13/14 was 22%.
859
943 973
1,013 984
1,050
30 32 33 33 33 34
67 68 68 68 69 68
Q2 Q3 Q4 Q1 Q2 Q3
13/14
EBIT (mDKK)
EBIT margin (%)
Gross margin (%)
*
-
Profitability drivers
Profitability drivers – key ratios
Page 10
7.05.8 5.9
5.64.6
4.04.4 4.3 4.13.1 3.3 3.0
42.1
38.7
35.433.4 32.4 31.630.4 29.5 29.4 28.8 28.5 28.5
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 (%)
-
Strong underlying cash flow - YTD FCF in line with last year due to higher on account tax payment
YTD free cash flow was 1,645 mDKK. This
was in line with last year and thus
somewhat down relative to sales:
− EBITDA margin before special items*
increased by ~1%-point due to strong
commercial performance in the company
− Tax payments increased relative to last
year due to higher earnings and higher
on account taxes
− Operating net working capital remains
stable relative to sales at approx 24%
− CAPEX-to-sales increased 3.4% to 3.9%.
The relative increase was due to
investments in machinery for new
products
Comments Performance
Page 11
*Special items 2013/14 includes DKK 1,000m provision for mesh.
1,428 1,476 1,818
2,336 2,699
1,645
16 1518
21 2318
1.0
10.0
08/09 09/10 10/11 11/12 12/13 13/14
YTD
FCF (mDKK)
FCF-to-Sales (%)
-
23.7 23.1 23.1 22.2 22.5 23.7
6.5
3.22.5
3.13.8 3.9
22.0
27.130.6
34.135.8 36.5
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
Free Cash Flow drivers – key ratios
Page 12
*
*Before special items
-
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% 7-10% p.a.
EBIT margin
- Reported
- Before special items
25-26% (fixed)
33-34% (fixed)
~25%
~33%
+50-100 bps p.a.
CAPEX (DKKm) ~500 ~4% of sales
Tax rate ~25% -
Page 13
-
Leading intimate healthcareIntroduction to Coloplast
Page 14
-
Ostomy Care42%
Continence Care35%
Urology Care10%
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
Page 15
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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® MioOstomy bag
SpeediCath®Compact male urinary catheter
Titan®Penile implant
Biatain® SiliconeFoam wound dressing
Page 16
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DemographicsGrowing 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
Page 17
-
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
EuropeDevelopedEmerging
13-14bn
4-5%
~9bn
4-6%
9-10bn
3-5%
~14bn
2-4%
Page 18
-
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
Page 19
-
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
Page 20
-
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
Page 21
-
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
11/12 12/13 13/14e
Incremental sales investments
Page 22
7.05.8 5.9
5.64.6
4.04.4 4.3 4.13.1 3.3 3.0
42.1
38.7
35.433.4 32.4 31.630.4 29.5 29.4 28.8 28.5 28.5
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 (%)
-
Operational Excellence focus
focus areas
Cost efficient production with more potential for improvements
2313 August 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
Page 23
-
Coloplasts return policies include high payout ratio and continued share buy backs
DKK 1bn share buy-back initiated in March
2014
1,258 mDKK returned to shareholders via
share buyback and dividends YTD 13/14
First half of share buy-back program nearly
complete (414 mDKK by 30 June 2014) –
second half expected to commence in
FY14/15
844 mDKK interim dividend paid in Q3
13/14 – next dividend payment will be after
Q4 13/14
Future dividends not impacted by mesh
provision made in Q2 13/14
Comments Performance
Page 24
500 500 500 500 414300
422 585844
2,105
844300
9221,085
1,344
2,605
1,258
21
62 60 58
9776
08/09 09/10 10/11 11/12 12/13 13/14
YTD
Share buy-back (mDKK)
Dividends (mDKK)
Total payouts/FCF (%)
-
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%
18%11% 6%
46%
03'04 05/06 07/08 09/10 11/12 13/14 YTD
FCF to sales
ROIC after tax
10%
10%
9%
16%
9%
33%
03/04 05/06 07/08 09/10 11/12 13/14 YTD
Organic growth
EBIT Margin
Page 25
*
* Adjusted for mesh provision of DKK 1,000m
*
-
Appendices
Page 26
-
Coloplast revenue development by business area
Ostomy Care Continence Care
Urology Care Wound & Skin Care
Organic growth
Reported growth
Revenue
Page 27
3.621 3.9494.266 4.633
4.8491
9 8 9
54
7 76
7
-10-8-6-4-20246810
0
2000
4000
6000
8000
10000
12000
08/09 09/10 10/11 11/12 12/13
2.912 3.2023.456
3.831 4.0816
10
8
11
7
8 8 8 8
7
30
2.000
4.000
6.000
8.000
10.000
12.000
08/09 09/10 10/11 11/12 12/13
787 857 938 1.037 1.124
15
9
9 11
8
11 10
46
9
1
10
100
0
2000
4000
6000
8000
10000
12000
08/09 09/10 10/11 11/12 12/13
1.500 1.529 1.512 1.522 1.581
32
-1
1
43
0-1 -1
5
-8
-6
-4
-2
0
2
4
6
0
2000
4000
6000
8000
10000
12000
08/09 09/10 10/11 11/12 12/13
-
Coloplast revenue development by geography
Europe Other Developed
Emerging Markets
Organic growth
Reported growth
Revenue
Page 28
3.792
5.784
7.749
2.031
4.018
6.128
4 4 59 7 6
5 4 5 7 6 6
Q2 Q3 Q4 Q1 Q2 Q3
1.188 1.7822.395
625 1.2151.817
78
9 911
108
7 5
2 2
Q2 Q3 Q4 Q1 Q2 Q3
727 1.0991.491
407 8471.269
1415 14
2825 24
1213 11
20 17 15
Q2 Q3 Q4 Q1 Q2 Q3
-
The Coloplast share (COLO’B-KO)
Coloplast share listed on NASDAQ OMX
Copenhagen since 1983
~100 billion DKK market cap @ ~ 470 DKK
per share
Two share classes:
18m A shares carry 10 votes (family)
202m B shares carry 1 vote (freely traded)
Free float approx. 55% (B shares)
Active sell-side analyst coverage by 25
brokersAs 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
Page 29
-
Capital structure
Comments Performance
• 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
Page 30
2,297
1,593
539
-1,042
-1,744
-644
1.2x
0.6x
0.2x
-0.3x-0.4x
-0.1x
08/09 09/10 10/11 11/12 12/13 13/14 YTD
NIBD (mDKK)
NIBD/EBITDA
*
* LTM EBITDA - adjusted for mesh provision of DKK 1,000m
-
Healthcare reform landscape
Page 31
Stable reform environment
Intensifying reform pressureFrance - 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 always possible.
Holland OC reimbursement pressure.
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 CareKey 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
Page 32
-
• 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
revenuesIntermittent catheters
Urine bags
Male ext. catheters
Bowel mgt.
• Continence or home care nurses
• Wholesalers/ distributors
• Hospital purchasers and GPOs
Customer
groups
Page 33
-
Men's health
Women's health
DSU
Introducing Urology CareTreatment (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
Page 34
-
Introducing Wound Care
Comfeel® Plus Transparent
• Transparent hydrocolloid
dressing
• Launched in 1994
New Biatain® Silicone
• Silicone adhesive and
foam dressing
• Launched in 2013
Chronic wounds
• Leg ulcers
• Diabetic foot ulcers
• Pressure ulcers
Hospitals
• Wound care committees
• Specialist nurses/doctors
• (Purchasers)
Community
• Specialist nurses/doctors
• General practitioners
• District/general nurses
• Large nursing homes
Biatain® Ag
• Antimicrobial foam dressing
• Launched in 2002
Biatain®
• High exudate mgt.
foam dressing
• Launched in 1998
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
Page 35
-
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
• Hospital purchasers and GPOs
• Surgeons
Customer
groups &
call points
Market value
by geography
Key products
Emerging
markets
European
marketsOther
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
Page 36
-
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
BarriersCleansers/BathingMoisturizersTextileOther
EasiCleanse Bath ™
• Disposable Bathing Wipes
• Improves Patient Experience
Page 37
-
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
Page 38
-
Introducing Bowel Management
Peristeen® Anal Irrigation
• Launched in 2003
• 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
• Launched in 1995
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
Page 39
-
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
• Specialist nurses/doctors
• (Purchasers)
Community
• Specialist nurses/doctors
• General practitioners
• District/general nurses
• Large nursing homes
* Addressable market for Coloplast approx. USD 1bn
Page 40
-
Coloplast Executive Management
Page 41
Lars Rasmussen
President, CEO
• Born 1959
• With Coloplast since 1988
Allan Rasmussen
EVP, Global Operations
• Born 1967
• With Coloplast since 1992
Anders L.-Skovgaard
EVP, CFO
• Born 1972
• With Coloplast since 2006
Kristian Villumsen
EVP Chronic Care
• Born 1971
• With Coloplast since 2008
Further information is available from www.coloplast.com
-
Corporate responsibility – external recognitions
Page 42
-
Net revenue 9,214 8,665
Gross profit 6,304 5,837Gross margin 68.4% 67.4%
SG&A costs -2,988 -2,874
R&D costs -281 -286
Other Operation Inc/exp 12 22
EBIT before special items 3,047 2,699EBIT margin 33.1% 31.1%
EBIT after special items 2,047 2,699EBIT margin 22.2% 31.1%
Net financial items 32 -81
DKK million9M
2013/14
9M
2012/13
Income statement
Page 43
-
DKK million 30-Jun-14 30-Sep-13
Balance sheet total 9,121 9,364
Equity 5,423 6,769
Equity ratio (%) 59% 72%
Invested capital 6,075 6,320
Balance sheet
Page 44
-
DKK million9M
2013/14
9M
2012/13
EBITDA 2,362 3,070
Change in working capital -253 -352
Net interest payments, etc. 43 3
Other 912 -3
Paid tax and other -1,076 -771
Cash flow from operations 1,988 1,947
CAPEX -363 -295
Other 20 -2
Cash flow from investments -343 -297
Free cash flow 1,645 1,650
Dividends -2,320 -1,476
Trading of Coloplast shares -439 -439
Other cash changes 0 -1,417
Total -2,759 -3,332
Net cash flow for the year -1,114 -1,682
Cash flow
Page 45
-
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
• Number of employees in production: ~175
Production sites
Sarlat
FR
• Disposable surgical urology products
• Number of employees in production: ~170
Minneapolis
US
Mankato
US
• Skin care products
• Ostomy care accessories
• Number of employees in production: ~70
• Urology care products
• Number of employees in production: ~80
Page 46
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Nyírbátor
HU
• Catheter care products
• Wound care products
• Number of employees in production: ~850
Tatabánya
HU
• Ostomy care products
• Adhesives
• Continence care products
• Number of employees in production: ~1,200
Zhuhai
CN
• Continence care products
• Ostomy care products
• Machine building
• Number of employees in production: ~1,000
Tata
HU
• Postponement & packaging
• Cross docking
• Warehousing
• Distribution & shipping
• Number of employees: ~210
Page 47
-
Contact Investor Relations
Sara Fredskov Munch
IR Coordinator
Tel.: direct: +45 4911 3477 /
office: +45 4911 1800
Fax: +45 4911 1555
dksafrm@coloplast.com
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
dkisec@coloplast.com
Page 48
Ellen Bjurgert
IR Manager
Investor Relations
On maternity leave
mailto:dkguj@coloplast.commailto:dkisec@coloplast.com
-
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
Page 49
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