2016 9-months sales presentation - Straumann
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27.10.2016
2016 9-months sales presentation
Webcast for investors, analysts & media
Basel, 27 October 2016
1
Disclaimer
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.
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27.10.2016
Highlights
Marco Gadola, CEO
Strong all-round performance continues in Q3
REVENUE GROWTH Q3 BUSINESSES STRONGEST REGIONS
+12.5% Double-digit North America &
in organic terms1 growth APAC
+14.4% in CHF continues across all businesses; Entry into Argentina (2nd largest market
Instradent posts triple-digit increase in LATAM)
PRODUCT HIGHLIGHT STRATEGIC HIGHLIGHTS FULL-YEAR GUIDANCE
Variobase® Creating
On track
abutment family opportunities
Versatile, cost-effective solution; EMEA reorganization to free up …to achieve low-double-digit organic
high double-digit growth since resources for emerging markets; revenue growth with further EBIT
launch 3 years ago; 400 000 sold Instradent European hub operational; margin improvement (barring
shared technology platform expanded unforeseen circumstances)
1 Organic growth – i.e. excluding the effects of currency fluctuations and acquired/divested business activities
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27.10.2016
A fourth consecutive quarter of double-digit
growth
Organic revenue growth in %
North America
28% of Group
EMEA APAC
45% of Group 17% of Group
17.3
9.5
15.5 19.4
7.7
17.0
Q3 9M
Q3 9M
LATAM
10% of Group Q3 9M
14.5
Group
12.7 14.3
12.5
Q3 9M Q3 9M
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Business and regional review
Peter Hackel, CFO
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27.10.2016
Strong expansion across all regions
Revenue development (in CHF million, rounded)
15.3% in CHF
13.2% organic
11% LATAM
8.9
18.1
25.3 23% APAC
26.4
5.4 5.7
North
32% America
675.1
585.3 596.4 Change in organic growth
34% EMEA
0.9% 1.0% 9.5% 15.5% 19.4% 14.5%
Revenue 9M FX effect M&A effect Revenue 9M EMEA North APAC LATAM Revenue 9M Contribution to
2015 2015 @ FX America 2016 growth
2016
2015 2016
7
EMEA robust – impressive performance in North
America
Revenue change (organic)
Robust Q3; results generally
45% positive
56% 11.1%
EMEA
8.5% 8.3% 9.4%
8.3% 7.7% Iberia, Italy and France among the
principal contributors
Zinedent joint-venture in Turkey
Q2 Q3 Q4 Q1 Q2 Q3
adds to growth
2016
Strong performance; +17% in Q3
16.9% 17.3%
North America
Healthy growth in all business
12.5%
segments
9.3%
28% 6.1% 6.6% BLT helps win new general
dentists and surgeons (40% of
Straumann implants sold in region
Q2 Q3 Q4 Q1 Q2 Q3 are BLT)
2016
Instradent reports notable gains
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27.10.2016
APAC & LATAM keep the pace up
Revenue change (organic)
20.0% 21.0% 20.2% Growth in Q3 exceeds market
Asia Pacific
17.0%
12.8% 13.2% growth
17% 56%
Key performer: China
Chinese value segment entered -
first full quarter of sales from
Q2 Q3 Q4 Q1 Q2 Q3
Anthogyr
2016
Q3 revenue up 13% from
15.6% 16.8% 17.2% comparatively low baseline
13.3% 12.7%
LATAM
Strong performances in Mexico and
Brazil (despite stagnant market)
10%
1.3%
Strong demand for BLT – LATAM
Q2 Q3 Q4 Q1 Q2 Q3 overtakes other regions in less than
2016 a year
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Double-digit growth in all businesses
Implants Restorative Biomaterials
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27.10.2016
Update on strategic progress
Marco Gadola, CEO
Update on our strategic priorities
Drive a high performance culture and organization
Target unexploited growth markets & segments
Become THE Total Solution Provider for Tooth Replacement
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27.10.2016
Entry into LATAM’s 2nd largest market – Argentina
Subsidiary in Buenos Aires goes into operation
and will address premium and non-premium
segments
Distributor business taken over
Direct access to Argentinian market through own
marketing, sales force, education, etc.
2nd largest market in Latin America with ~400k
implants placed in 2015: 97 per 10k population1)
13 1 Straumann estimates
Instradent Europe now operational – value
offering and competitive position strengthened
European hub in Freiburg, Germany,
to serve countries without Instradent
organizations and to accelerate
market penetration
Hub provides warehouse, distribution
& supply, customer services, as well
as commercial management for
customers, distributors and agents
New markets served directly by hub
Markets with established Instradent
subsidiaries
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27.10.2016
Rapidly expanding footprint in the non-premium
segment
Neodent home market Instradent/Manohay footprint
Medentika home market Instradent/Neodent distributors
Equinox home market
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Re-allocation in Europe to free up resources for
emerging markets (effective 01.2017)
Wolfgang Becker
Jens Dexheimer EVP Distributor &
EVP Europe Emerging Markets
EMEA
Europe Subsidiaries reallocated Distributor/emerging markets
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27.10.2016
Production expansion to meet growing demand
Premium segment
Villeret (CH) & Andover (US) to increase output by a quarter in 2016/17
through capacity optimization and investments in plant & equipment
Value segment
Curitiba (BR) will almost
double capacity in coming
years
17
Update on our strategic priorities
Drive a high performance culture and organization
Target unexploited growth markets & segments
Become THE total solution provider for
tooth replacement
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27.10.2016
Steps initiated to become a ‘Total Solution Provider’
Diagnosis & Implant Regenerative Prosthetics
treatment planning Standard & customized
Tooth replacement Bone augmentation
Membrane
Soft tissue repair
Accelerated treatment
protocols
Wound healing 3rd party prosthetics
§
Implant Enhanced bone
maintenance regeneration Restoration materials
Geographical reach
Digital Dentistry
Fully integrated digital treatment workflow
Today Expansion areas
19
19
Technology & manufacturing platform:
update and further expansion
Germany (100%) Canada (55%)
Brazil (100%) Germany (51%)
Spain (30%) USA (13%) Turkey (50%)
France (30%) (joint venture)
S. Korea
Germany Switzerland (44%) (arbitration) Taiwan (49%)
Taiwan India (100%)
Austria Canada (30%) (conv. bond) (coming months)
Common technology and
Premium manufacturing platform Value
20 Implants CADCAM/prosthetics Regeneratives
1027.10.2016
Straumann invests in V2R Biomedical –
specialist in guided-surgery planning
Canadian company specialized in guided-surgery planning since 2008
30% stake acquired with option to increase to full ownership
‘Smile-in-a-box’ concept to provide drill guide plus all components
together for single/multiple/full-arch replacements in a single surgical
appointment
Data Planning &
Production “Smile in a box” Surgery
acquisition design
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Straumann launches Novaloc® attachment
system for implant-borne removable dentures
Innovative, amorphous, diamond-like, carbon coating (ADLC) for
durability
Removable, variable matrix inserts (low maintenance)
Precise alignment & seating; original Straumann connection
Successful launches in Europe & Australia; other markets
to follow
Developed by Swiss technology partner Valoc
Preferred alternative to previous system
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1127.10.2016
New chairside system enters controlled market
release
Straumann Amann Girrbach chairside mill
Market acceptance tests underway in Central
Europe
Straumann/Dental Wings intra-oral scanner
Attractively priced; launched in US (Benco and
Burkhart)
Pilot in Germany; further test markets in Europe to
follow with rollouts planned in 2017
23
Reach broadened to become a total solution
provider
Centralised
milling
Intra-oral
scanning
In-lab milling /
practice lab
Lab
scanning
Chairside
or 3rd party scanners milling
Scan of patient case Prosthetic design Manufacturing
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Planmeca adds distribution power for
Straumann’s n!ce™ material
Unique glass ceramic for single-tooth restoration, optimized
for chairside (‘mill-polish-seat’ concept; no crystallization
firing required1)
Commercialization through all Straumann Group channels
underway
Global distribution rights granted to Planmeca Oy to add
marketing power and to help build the brand worldwide,
Planmeca is a well-established leader in high-tech
dental markets worldwide; range includes dental
equipment, software and CADCAM solutions
1 Crystallization process typically takes 10-20 minutes, depending on material and oven equipment
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Cooperation with Zirkonzahn SARL opens door
to new group of lab customers
Zirkonzahn to distribute Straumann Variobase® abutments
International supplier of lab solutions, including prosthetics for a wide
range of implant systems
Customers using Zirkonzahn’s digital workflow gain easy access to
Straumann cost-effective abutments with original connections
Test-market roll-out under way in Germany
26 Zirkonzahn is a registered brand name of the respective company.
1327.10.2016
Outlook 2016
Guidance 2016 reiterated
Barring unforeseen circumstances
Straumann expects the global implant
market to grow solidly in 2016 and is
confident that it can continue to
outperform
Aims to achieve full-year organic growth
in the low-double-digit range
Despite further investments in strategic
growth initiatives, the expected revenue
growth and operational leverage should
lead to further improvements in the
underlying full-year EBIT margin (2015:
23%).
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1427.10.2016
Questions & answers
Calendar of upcoming events
2016
27 October Q3 revenue publication Webcast
02 November Vontobel Healthcare Tour Basel
15 November Investor meetings Zurich
17 November Credit Suisse Mid Cap Conference Zurich
08 December Credit Suisse European Healthcare Trip HQ, Basel
2017
12 January Bellevue Meets Management Seminar Zurich
16 February Full-year results conference HQ, Basel
07 April AGM 2016 Messe Basel
Social media
Analyst Talk Executive interviews Straumann.com / youtube.com
StraumannIR Investor Relations Twitter @StraumannIR
30 More information on straumann.com → Events
1527.10.2016
Straumann’s currency exposure
Revenue breakdown FY20151 FX sensitivity
Average exchange rates (rounded)
CHF (+/- 10%) on full-year...
Other 9%
2014 2015 9M 2016 Revenue EBIT
19%
1 EURCHF 1.21 1.08 1.09 +/- 26m +/- 16m
1 USDCHF 0.92 0.96 0.98 +/- 20m +/- 7m
BRL EUR
10% 33% 1 BRLCHF 0.389 0.295 0.277 +/- 8m +/- 2m
100 JPYCHF 0.86 0.88 0.90 +/- 5m +/- 3m
USD/CAD
/AUD 130
29%
Cost breakdown FY20151
Other 110
11%
BRL CHF
11% 37%
90
70
USD/CAD 50
/AUD 2014 2015 2016
24% EUR
EURCHF BRLCHF USDCHF JPYCHF
19%
1 These distribution charts represent the total net revenues and the total COGS, as well as OPEX in the various
31 currencies. All numbers are rounded and based on FY 2015 figures and include Neodent since 1 March 2015.
Your contacts
Corporate Investor Relations
Fabian Hildbrand
Tel. +41 (0)61 965 13 27
investor.relations@straumann.com
Corporate Communications
Mark Hill Thomas Konrad
Tel. +41 (0)61 965 13 21 Tel. +41 (0)61 965 15 46
mark.hill@straumann.com thomas.konrad@straumann.com
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