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Coloplast annual general meeting
11 December 2012
Coloplast annual general meeting 11 December 2012
Page 1
”It feels like just another part
of my body” Enzo Franchini
Coloplast annual general meeting
11 December 2012
Page 2
Chairman of the Board
Michael Pram Rasmussen
Coloplast annual general meeting
11 December 2012
Page 3
Board of Directors Other members of the Board elected by the annual general meeting
Brian Petersen Per Magid
Sven Håkan Björklund
Jørgen Tang-Jensen
Coloplast annual general meeting
11 December 2012
Page 4
Board of Directors Members elected by staff
Jane Lichtenberg
Torben Rasmussen Thomas Barfod
Coloplast annual general meeting
11 December 2012
Page 5
Executive Vice President, CFO
Lene Skole
Coloplast annual general meeting
11 December 2012
Page 6
Coloplast annual general meeting 2012
”Every day I’m a bit more
confident and optimistic” Monika Gossner
Coloplast annual general meeting
11 December 2012
Page 7
Agenda
1. The Board’s report
2. Presentation of the annual report
3. Decision on the distribution of profit
4. Proposals from the Board and shareholders
5. Election of board members
6. Election of auditors
7. Any other business
Coloplast annual general meeting
11 December 2012
Page 8
Agenda
1. The Board’s report
2. Presentation of the annual report
3. Decision on the distribution of profit
4. Proposals from the Board and shareholders
5. Election of board members
6. Election of auditors
7. Any other business
Coloplast annual general meeting
11 December 2012
Page 9
Chairman of the Board
Michael Pram Rasmussen
Coloplast annual general meeting
11 December 2012
Page 10
Coloplast has built a strong base for the continued value creation of the company …
Page 10
11 11 12 10 6 10 15 23 30 38
16 16 16
13
9
12
16
21
25
30
11 10
8 8
10
7 6
7 6 6
02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 11/12
Operating profit
(EBIT) %
Organic growth %
ROIC %
Coloplast annual general meeting
11 December 2012
Page 11
Coloplast has therefore revised the strategy with the purpose of increasing growth. During the coming 3-5 years, further investments will be made in …
Page 11
• Continued growth in the European core
markets
• Increased growth in the developed
markets outside Europe (USA, Canada,
Japan and Australia)
• Major expansion and growth in
emerging markets
Coloplast annual general meeting
11 December 2012
Page 12
BravaTM
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Coloplast annual general meeting
11 December 2012
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SpeediCath® Compact Set
Page 13
Coloplast annual general meeting
11 December 2012
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Key figures 2011/12 and 2010/11
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DKK m 2011/12 2010/11 Growth
Net revenue 11,023 10,172 6%
Gross margin 67% 65%
Operating profit (EBIT) 3,255 2,581 26%
Operating margin (EBIT margin) 30% 25%
Profit for the year 2,194 1,819 21%
ROIC after tax 38% 30%
Coloplast annual general meeting
11 December 2012
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Organic growth rates
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Total Ostomy Continence Urology Wound and Skin Care
6%
8%
(1%)
6% 6%
Coloplast annual general meeting
11 December 2012
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Geographical markets
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Revenue DKK m Organic growth
European markets 7,388 4%
Other developed markets 2,288 7%
Emerging markets 1,347 13%
Coloplast annual general meeting
11 December 2012
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Cost development in % of sales
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31% 30% 30%
29% 29%
10%
7% 6% 6% 6%
5% 4% 4% 4%
3%
2007/08 2008/09 2009/10 2010/11 2011/12
Distribution
Administration
R&D
Coloplast annual general meeting
11 December 2012
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Balance sheet
Page 18
DKK m 2011/12 2010/11
Total assets 10,176 9,218
Equity 6,042 4,452
Equity ratio 59% 49%
Net interesting bearing debt -1,042 539
Coloplast annual general meeting
11 December 2012
Page 19
Profit 2011/12
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Coloplast’s share of the profit for the year
Dividend 20.00 DKK per share of DKK 5.00
Pay-out ratio of 38%
DKK 2,194 m
DKK 841 m
Coloplast annual general meeting
11 December 2012
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Share price development
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11 December 2012: XXXX
803.5
1208.0
Nov Dec 2012 Feb Mar Apr Maj Jun Jul Aug Sep
Coloplast annual general meeting
11 December 2012
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Long-term ambition
• To grow more than the market
• To deliver margins in line with the best
performing med-tech companies1
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1 Coloplast’s current peer group consists of the following listed med-tech companies: Medtronic
Inc., Baxter International 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.
”I can do what I want, when I want” Joêlle Débonnet
Coloplast annual general meeting
11 December 2012
Page 22
Financial expectations for 2012/13
• A revenue growth of about 6-7% both organically and in DKK
• An EBIT margin of about 31-32% both at constant exchange rates and
in DKK
• CAPEX of around 400 mio. kr.
• An effective tax rate of around 25-26%
Page 22
Coloplast annual general meeting
11 December 2012
Page 23
Coloplast annual general meeting 2012
”Not thinking about it – that’s
what it’s all about” Saskia van Waveren-Deppe
Coloplast annual general meeting
11 December 2012
Page 24
Agenda
1. The Board’s report
2. Presentation of the annual report
3. Decision on the distribution of profit
4. Proposals from the Board and shareholders
5. Election of board members
6. Election of auditors
7. Any other business
Coloplast annual general meeting
11 December 2012
Page 25
Agenda
1. The Board’s report
2. Presentation of the annual report
3. Decision on the distribution of profit
4. Proposals from the Board and shareholders
5. Election of board members
6. Election of auditors
7. Any other business
Coloplast annual general meeting
11 December 2012
Page 26
Proposals from the Board of Directors
1. To lower the nominal value per share from DKK 5.00 to DKK 1.00 in order to increase the liquidity of the share
2. To reduce the share capital by a nominal amount of DKK 5 m of the company’s holding of treasury shares to the effect that these treasury shares be cancelled
3. Amendments to the company’s Articles of Association as a consequence of the above proposals as well as editorial changes
4. Grant of authority to the company’s Board of Directors to acquire treasury shares
5. To authorise the Board of Directors to pay extraordinary dividend
Page 26
Coloplast annual general meeting
11 December 2012
Page 27
Agenda
1. The Board’s report
2. Presentation of the annual report
3. Decision on the distribution of profit
4. Proposals from the Board and shareholders
5. Election of board members
6. Election of auditors
7. Any other business
Coloplast annual general meeting
11 December 2012
Board members proposed to be re-elected
Chairman of the Board Michael Pram Rasmussen
Deputy Chairman Niels Peter Louis-Hansen
Sven Håkan Björklund
Brian Petersen
Per Magid
Jørgen Tang-Jensen
Page 28
Coloplast annual general meeting
11 December 2012
Page 29
Agenda
1. The Board’s report
2. Presentation of the annual report
3. Decision on the distribution of profit
4. Proposals from the Board and shareholders
5. Election of board members
6. Election of auditors
7. Any other business
Coloplast annual general meeting
11 December 2012
Page 30
Agenda
1. The Board’s report
2. Presentation of the annual report
3. Decision on the distribution of profit
4. Proposals from the Board and shareholders
5. Election of board members
6. Election of auditors
7. Any other business
Coloplast annual general meeting
11 December 2012
Page 31
Coloplast annual general meeting 2012
”It feels like just another part
Of my body” Enzo Franchini
