Accelerating Global Growth Lars Rasmussen, President & CEO
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Accelerating global growth Lars Rasmussen, President & CEO 13 June 2012 Accelerating global growth Page 1 Agenda • Recap the Coloplast journey • Outline our ambitions for the years ahead • Describe our main priorities to deliver on these ambitions • Discuss your reflections and questions 13 June 2012 Accelerating global growth Page 2 Our journey has delivered a very successful turnaround… EBIT margin, % Organic revenue growth, % ROIC, % Our legacy Our turnaround 30 25 23 EBIT margin 21 16 16 16 16 15 Organic 13 12 revenue growth 12 11 11 10 10 10 11 10 9 7 6 6 8 8 7 ROIC 6 02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 13 June 2012 Accelerating global growth Page 3 ... and we have a strong foundation for the future #1 regarded medical device company … and highly motivated among our patients employees throughout our Group • 300 patient groups from 42 Engagement Survey, May 2012 countries in Patient View study • Coloplast ranked 1st on all six +18% indicators, e.g. • High quality, useful products 72 • Effective patient centered 61 strategy • Patient safety • Consistently outranking peers such as Medtronic (2nd) and S&N (3rd) EEI** Coloplast * PatientView – Corporate Reputation of the Medical Device Industry, April 2012; Coloplast Engagement Survey, May 2012 ** European Employee Index benchmark 13 June 2012 Accelerating global growth Page 4 Our ambition is to be among the world’s best medical device companies – to deliver on this, we have set clear priorities How we do business… …supports us where we do business A.1 Become even closer to our E.5 Continued growth in the core customers developed markets in Europe B.2 Develop and market the world’s F.6 Increased growth in the developed best products markets outside Europe (US, Canada, Japan and Australia) C.3 Operate a highly professional and dedicated sales force G.7 Further expansion and growth in Emerging Markets D.4 Continue to run an efficient business 13 June 2012 Accelerating global growth Page 5 Become even closer to our customers Coloplast Care and DtC form a new sales channel that gets us even closer to our customers (1/2) Objective Through Coloplast Care we… … with positive results so far Connect to end users and • Close to 100,000 end users* form lifetime bond enrolled NPD gain • More than 15 countries* are and running Care programme – Advise with the right retention of and more to come information at the right time new users when exiting • Ability to measure retention of from the Respond with frequent phone patients hospital calls, emotional support and monthly newsletters • Positive patient testimonials Enable our end users by making their lives easier * Coloplast Care report, April 2012 13 June 2012 Accelerating global growth Page 6 Become even closer to our customers Coloplast Care and DtC form a new sales channel that gets us even closer to our customers (2/2) Objective DtC is direct individualized marketing… … with positive results so far Market to the • Current database of more individual’s need Customised than 300,000 end users* and dialogue and Conversion, up-selling • Increasing lead generation and cross- through online and offline selling to message marketing activities existing and services and users, both • New system and processes CP and products Specific being implemented allowing others for increased transparency Information tailored to the individual • Focus on improved customer experience * Consolidation of country databases, April 2012 13 June 2012 Accelerating global growth Page 7 Develop and market the world’s best products Innovation is on our Agenda with a clear commercial direction setting: To develop the world’s best products Advisory Boards Innovation Innovation Brief Ideation Roadmap User friendly programme 10/11 11/12 12/13 13/14 14/15 L 1 Antropological studies L 2 Co-creation Concept Design Projects 13 June 2012 Accelerating global growth Page 8 Develop and market the world’s best products We have a very strong pipeline with the highest NPV ever… Products launched Future launches 10/11 11/12 12/13 13/14 13/14 Slot 1 Slot 2 Slot 1 Slot 2 Slot 1 Slot 2 Slot 1 Slot 2 Slot 1 Slot 2 Ostomy SenSura® Care Mio Brava™ Speedi- Continence Cath® Design Care Compact DNA Male Biatain® Wound Silicone Care Ag 13 June 2012 Accelerating global growth Page 9 Develop and market the world’s best products …and we will be launching a new coherent Design DNA in Coloplast 13 June 2012 Accelerating global growth Page 10 Operate a highly professional and dedicated sales force We are focusing on driving better execution and maximising sales impact through our Sales Leadership initiative Focused on up-scaling 1st line sales From winning big accounts to being experts managers globally in sales leadership Best medtech Country manager sales force in the world Experts in sales 1st line leadership Sales Experts in Mgmt winning big accounts Sales reps 13 June 2012 Accelerating global growth Page 11 We have set clear priorities for where we do business How we do business… …supports us where we do business A.1 Become even closer to our E.5 Continued growth in the core customers developed markets in Europe B.2 Develop and market the world’s F.6 Increased growth in the developed best products markets outside Europe (US, Canada, Japan and Australia) C.3 Operate a highly professional and dedicated sales force G.7 Further expansion and growth in Emerging Markets D.4 Continue to run an efficient business 13 June 2012 Accelerating global growth Page 12 Continued growth in the core developed markets in Europe We are stepping up to the challenge in Europe and leveraging our market leader position Our situation Key priority Sustain high 40-50% market share* market share and capture 67% of our net revenues profitable growth * Chronic Care market share 13 June 2012 Accelerating global growth Page 13 Continued growth in the core developed markets in Europe Focus on sales excellence and innovation will drive growth in our European Chronic Care business Monthly MAT growth Germany Italy Nordics >3%-pts 1.5x 2.0x Perfor- mance May 2011 April 2012 May 2011 April 2012 May 2011 April 2012 • Positive momentum in • Positive OC contribution • Positive market expansion SIEWA driven by retention and on commercial execution in • Positive CC performance value upgrades Norway Key from focusing on IC, key • Positive CC performance • Tender wins in DK drivers accounts and commercial from focusing on IC, key execution account and commercial execution • Focus on rehab units 13 June 2012 Accelerating global growth Page 14 Continued growth in the core developed markets in Europe And we are actively working on changing the challenged momentum in our European Wound Care business France Spain New organisational setup 1 1 Create strong dedicated team with increased sales pressure Maximise effectiveness of 2 Increase commercial focus 2 organisation Win with Biatain® Win with Biatain® 3 3 “superior absorption” portfolio “superior absorption” portfolio 4 Price management 4 Get tenders right Selected markets 13 June 2012 Accelerating global growth Page 15 Increased growth in the developed markets outside Europe High potential for taking larger market shares in the developed markets outside EU Our situation Key priority Capture 20-30% market share* market share 21% of our net revenues to grow in developed markets * Chronic Care market share 13 June 2012 Accelerating global growth Page 16 Increased growth in the developed markets outside Europe Developed markets in North America hold opportunities for increased growth… USA Canada • Breakthrough in Ostomy Care • Accelerate New Patient Discharge Ostomy through NPE and end user retention • Improve retention & drive conversion Care Contince • Defend and grow Continence Care • Accelerate Continence Care by Care through NPD capture and new leveraging strong market position product introductions Wound • Recommit to Skin Care growth and • Apply tender focused strategy stabilise Wound Care Care 13 June 2012 Accelerating global growth Page 17 Increased growth in the developed markets outside Europe … while our developed markets in Asia-Pacific also hold untapped potential Australia Japan • Increase investments in the market • Leverage market leader position Ostomy • Strong focus on NPD and SenSura® success Care • Optimise product mix to grow Ostomy Care Contince • Accelerate growth in intermittent • Understand and explore large Care catheters potential Wound • Focus on education and distributor • Increase our understanding and Care partnerships investments in market • Apply tender focused strategy • Educate growing number of nurses 13 June 2012 Accelerating global growth Page 18 Further expansion and growth in Emerging Markets Coloplast sees great potential to build and capture market shares in Emerging Markets Our situation Key priority Educate, 20-30% market share* create and 12% of our net revenues grow selected markets from focused effort * Chronic Care market share 13 June 2012 Accelerating global growth Page 19 Further expansion and growth in Emerging Markets Our growth in Emerging Markets will be driven by Ostomy Care and Wound Care Emerging Markets breakdown per business area Comments Percent OstomyOstomy ~60 • Assura® line is the main brand Care Care but SenSura® is growing rapidly WoundWound • Mature products like Comfeel® ~20 Care Care account for majority of business while Biatain® is gaining traction ContinenceContinence • EasiCath® and SpeediCath® are ~15 Care Care main brands UrologyUrology • Primarily disposable urology ~5 Care Care products