Coloplast conference call presentation Q1 2013/14

Transcription

1 Coloplast conference call presentation Q1 2013/14

2 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

3 Strong performance in Q1 2013/14 DKKm Sales 11% organic sales growth (7% in DKK) Very satisfactory EBIT margin of 33%, both in DKK and fixed currencies 2,865 +7% 3,063 Q1 2012/13 Q1 2013/14 EPS diluted increased by 26% to DKK 3.63 FCF increased by DKK 105m to DKK 490m ROIC after tax of 47% against 41% last year DKKm 897 Operating profit +13% 1,013 Revised full year guidance for 2013/14: Organic growth rate of around 8% and around 6% in DKK Q1 2012/13 Q1 2013/14 Operating margin EBIT margin in fixed currencies and DKK of around 33% 31% 33% Q1 2012/13 Q1 2013/14 Page 3

4 Unexpectedly high organic growth of 11% in Q1 Group revenue Q1 2013/14 by segment Q1 2013/14: DKK 3.1bn Group revenue Q1 2013/14 by geography 407 1,273 1,085 28% 10% 10% % 9% 2,031 DKKm (organic growth) 11% 17% OC CC UC WSC DKKm (organic growth) European markets Other developed markets Emerging markets Page 4

5 All in all strong financial performance in Q1 2013/14 Strong Q1 sales performance Satisfactory gross margin of 68%, up by 1% point against last year SG&A-to-sales of 32% against 33% in Q1 2012/13 Solid EBIT margin of 33% due to continued productivity gains and cost discipline Net working capital to sales was 22% CAPEX increased by 25% Free cash flow up by 27% to DKK 490m ROIC after tax at record 47% Share buyback for fiscal year 2013/14 of DKK 500m expected to start in Q2 2013/14 DKKm Q1 2013/14 Q1 2012/13 Gross profit 2,093 1,930 Gross margin 68% 67% SGA-to-sales 32% 33% EBIT 1, EBIT margin 33% 31% NWC-to-sales 22% 22% EPS CAPEX CAPEX-to-sales 3.7% 3.2% Free cash flow ROIC after tax 47% 41% Page 5

6 Guidance for 2013/14 is for continued growth and further margin expansion Guidance 13/14 Guidance 13/14 (DKK) Long-term ambition Sales growth ~8% (organic) ~6% Market+ EBIT margin ~33% (fixed) ~33% Deliver margins in line with the best performing medical device companies *) CAPEX (DKKm) ~500 ~4% of sales Tax rate ~25% - *) The peer group includes the following companies: 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 Page 6

7 S A V E T H E D A T E For Coloplast s Capital Market Day on Wednesday 4 June 2014 in Copenhagen from 10:00 22:00 With this event 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 dialogue with the broader management group in Coloplast. The preliminary programme includes the following topics: - Sales performance update - Innovation update - Financial update - Corporate Strategy update The presenters include President & CEO Lars Rasmussen, CFO Lene Skole, SVP Region Europe Alain Morvan, SVP Chronic Care US and Canada Ed Veome, SVP Emerging Markets Kristian Villumsen, SVP Wound Care Nicolai Buhl Andersen, SVP Urology Care Steffen Hovard, SVP Global Marketing Nicolas Nemery, SVP R&D Oliver Johansen as well as our Public Affairs team. Also present during the day will be a number of Coloplast key executives, including SVP of Global Operations Allan Rasmussen, SVP Corporate Finance Lars Einar Hansen and SVP People and Communications Anders Rendtorff. On 3 June 2014 we will provide the opportunity to visit our production facilities in Northern Zealand.