Fiscal 12 months 2020: stable efficiency regardless of decrease gross sales



COLTENE Holding AG / Key phrase (s): Annual outcomes

05-Mar-2021 / 06:00 CET / CEST
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  • As a result of international COVID-19 pandemic, internet gross sales fell to CHF 248.4 million (2019: CHF 273.8 million), down 4.1% in native forex
  • EBIT earlier than non-recurring cost from the sale of Vigodent was CHF 32.1 million (2019: CHF 32.0 million); The EBIT margin was 12.9% (2019: 11.7%)
  • Reported EBIT was CHF 23.3 million, EBIT margin 9.4%
  • Distribution of CHF 3.00 per share (2019: CHF 1.50) from capital contribution reserves

For the 12 months 2020, the COLTENE group achieves a internet turnover of 248.4 million francs (earlier 12 months: 273.8 million francs). In native forex, gross sales fell by 4.1% and in Swiss francs by 9.3%. The numerous 35.5% enhance in an infection management gross sales was unable to completely offset the lack of income in dental preservation and efficient remedy. Whereas COLTENE Group’s gross sales accelerated in Switzerland and North America, the short-term closure of dental practices slowed demand in lots of different markets. The working revenue (EBIT) earlier than a non-recurring non-cash cost on the disposal of the Brazilian subsidiary was CHF 32.1 million (2019: CHF 32.0 million). Internet revenue earlier than the non-recurring cost was CHF 19.9 million (2019: CHF 20.0 million). Reported EBIT for 2020 was CHF 23.3 million, with a internet revenue of CHF 8.2 million. At 48.1%, the fairness ratio remained on the identical stage because the earlier 12 months (48.0%) whereas the web debt fell by 40.6%, from 36.8 million francs to 21 , 9 million francs. Free money stream greater than doubled from 10.7 million francs a 12 months earlier to 24.3 million francs (+ 127%).

On the Peculiar Common Assembly on March 31, 2021, the Board of Administrators will suggest a distribution of CHF 3.00 (2019: CHF 1.50) per share from the capital contribution reserves for shareholders’ approval. For people residing in Switzerland, this distribution is tax exempt.

The COLTENE Group had a great begin to 2021, though business efficiency stays uncovered to vital dangers linked to the COVID-19 pandemic. The Group serves the dental market and advantages specifically from sustained demand for merchandise to battle infections, which have change into way more vital on account of the pandemic. These merchandise make dental practices safer and permit dependable disinfection and compliance with required hygiene requirements. COLTENE expects to keep up above-average innovation-driven progress on this strategic product group. With the anticipated gradual return of enterprise exercise to pre-pandemic ranges, COLTENE expects demand to additionally choose up within the areas of dental preservation and efficient remedy.

The brand new EU Medical Gadget Regulation (MDR) comes into impact in Might 2021. COLTENE has already achieved its first MDR certification in 2020, demonstrating the prime quality requirements of its merchandise and processes.

Built-in and focused
After reviewing its product portfolio in 2020, the COLTENE Group has deserted non-strategic merchandise with low quantity and low EBIT margins. The mixing of SciCan and Micro-Mega continued to progress, notably by means of the Group-wide deployment of constant software program programs and processes. These embrace SAP for enterprise useful resource planning (ERP) and centralized product info programs (PIM) and buyer relationship administration (CRM).

The Advertising and Gross sales groups of the COLTENE Group have maintained shut contact with clients regardless of the restrictions imposed by the pandemic. To help these efforts, COLTENE has expanded its digital communication capabilities.

In 2020, all of Kenda’s manufacturing was relocated and built-in into the prevailing facility and group in Altstätten. On December 17, 2020, the sale of the Brazilian subsidiary Vigodent was introduced and the transaction was finalized on the finish of 2020.

Affect of the worldwide COVID-19 pandemic
After a robust first quarter with excessive progress charges and an above common EBIT margin, gross sales fell within the second quarter as governments mandated the closure of most dental practices in key COLTENE markets. COLTENE has responded to the COVID-19 pandemic with a complete set of measures to guard the roles, well being and security of its workers and to make sure the liquidity and profitability of its enterprise. In Europe, short-term work was launched, largely avoiding the necessity for layoffs. In the USA, about half of the 400 workers have been quickly laid off as social insurance coverage contributions proceed. Thanks to those measures, the COLTENE Group was in a position to retain the know-how of its workers for the financial restoration in H2.

Change within the administration of the group
As of December 31, 2021, Gerhard Mahrle, skilled Group Chief Monetary Officer, will step down as a member of the COLTENE Group Government Board in anticipation of his impending retirement. His successor will likely be introduced at a later date. The Board of Administrators of COLTENE Holding AG want to thank Gerhard Mahrle for his a few years of service and dedication and his contribution to the success of the corporate. Gerhard Mahrle joined the corporate in 2014 as CFO and member of the group administration. Martin Schaufelberger, CEO of the COLTENE Group, stated: “On behalf of the Board of Administrators and the Group Administration, I want to thank Gerhard Mahrle for his extraordinarily useful service to the COLTENE Group. He has made a serious contribution to the event of the Group. ‘enterprise, together with in reference to the acquisitions of SciCan and Micro-Mega. “

Outlook
The COLTENE technique has confirmed its price in the course of the pandemic. The Group has demonstrated its resilience and adaptableness and, by specializing in an infection prevention as a strategic product group, it has proven its progress potential. The basics that underpin the technique will stay unchanged: deal with revolutionary and worthwhile merchandise, deepen certification and registration experience, and pursue sustainable progress in the important thing markets of the three product teams – Management infections primarily, plus dental preservation and efficient remedy.

Because of the fee discount measures taken in 2020, the fee base is considerably decrease than at the beginning of 2020. The Group affirms its medium-term goals of an EBIT margin of 15% and gross sales progress barely above the market. For 2021, group administration expects demand to return to 2019 ranges for dental preservation and efficient remedy.

Martin Schaufelberger, CEO of COLTENE Group, stated: “The COLTENE Group is properly positioned to satisfy challenges corresponding to fierce market competitors, accelerating digital transformation of companies and new regulatory modifications.”

*****

Media and Analyst Convention
At this time Friday, March 5, 2021 at 10:00 am CET, on-line by means of MS Groups. To request the hyperlink to affix the assembly, electronic mail Daniela Kuster at [email protected]

To obtain the presentation paperwork, go to www.coltene.com.

annual common assembly
The Annual Common Assembly of COLTENE Holding AG will likely be held on-line, with out the presence of shareholders in individual, on Wednesday March 31, 2021, at 4:00 p.m. CET on the firm’s headquarters. The invitation to the Annual Common Assembly might be downloaded at www.coltene.com.

Annual report 2020
COLTENE Holding AG’s Annual Report 2020 was revealed in the present day and might be downloaded at www.coltene.com.

Key figures (in CHF 1000)

2020

2019

% change

Internet gross sales

248,352

273,828

-9.3%

Functionnary prices

131,205

149,700

-12.4%

Working revenue (EBIT)

23,259

32,008

-27.3%

in% of internet gross sales

9.4%

11.7%

Internet revenue

8,232

20,031

-58.9%

Operational money stream

34,806

23 785

46.3%

Investments (internet)

10,516

13074

-19.6%

Free motion of capital

24,290

10 711

126.8%

Key figures (in CHF 1000)

31.12.2020

12/31/2019

% change

Internet debt

-21,866

-36 832

-40.6%

Complete property

187 631

189,829

-1.2%

Fairness

90 234

91210

-1.1%

as a% of whole property

48.1%

48.0%

Distribution per share in CHF

3.001)

1.50

100.0%

Variety of workers (FTE)

1,189

1,414

-15.9%

1) Proposal of the Board of Administrators to the Common Assembly of March 31, 2021: distribution of CHF 3.00 per share on capital contribution reserves and excluding treasury shares.

Monetary calendar

Media and Analyst Convention on
Fiscal 12 months 2020,
publication of the 2020 annual report

Annual Common Assembly 2021

March 5, 20212

March 31, 2021

Publication of the 2021 half-year report and 2021 half-year outcomes convention name

August 6, 2021

Publication of the 2021 annual report and convention of media and analysts for the 2021 monetary 12 months

March 4, 2022

Annual Common Assembly 2022 April 21, 2022
Publication of the 2022 annual report and convention name on the 2022 half-year outcomes August 5, 2022


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