leading intimate healthcare - coloplast relations... · 2014. 8. 27. · other developed markets...

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

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


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


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


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


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


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


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


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

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

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


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


• 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


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


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

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


• 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


• 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

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


• (Purchasers)

Community


• 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


Anders L.-Skovgaard

EVP, CFO

• Born 1972


Kristian Villumsen

EVP Chronic Care

• Born 1971


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


Production sites

Sarlat

FR

• Disposable surgical urology products


Minneapolis

US

Mankato

US

• Skin care products

• Ostomy care accessories


• Urology care products


Page 46

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

Page 47

Contact Investor Relations

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]

Page 48

Ellen Bjurgert

IR Manager

Investor Relations

On maternity leave

mailto:[email protected]:[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

Page 49

leading intimate healthcare - coloplast relations... · 2014. 8. 27. · other developed markets...

Documents