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    CLTN   CH0025343259

COLTENE HOLDING AG

(CLTN)
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COLTENE : Investor Day - positive sales and earnings performance in the first half of the year

06/23/2021 | 01:03am EDT

EQS Group-Ad-hoc: COLTENE Holding AG / Key word(s): Miscellaneous
Investor Day - positive sales and earnings performance in the first half of the year

23-Jun-2021 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.


COLTENE Holding AG is holding an analyst and investor meeting at its headquarters in Altstätten today and provides a trading update on the first half of 2021. The positive performance previously announced for the first quarter has continued, with sales and earnings both running ahead of expectations this year. However, the company is expecting a slightly slower rate of growth in the second half of the year, as the catch-up and recovery effects from the coronavirus pandemic fade over time.

COLTENE expecting an excellent result for the first half of the year
The COLTENE Group's sales performance remained strong in the second quarter. The company benefited from the easing of COVID-19 restrictions in its core markets and the resultant increase in dental treatments in many markets.

The dental group expects sales to be up significantly in the first six months of this year on the same period last year and also higher than the pre-pandemic level in the first half of 2019, although there is a negative exchange rate effect of 6% compared with 2019. The cost-cutting measures put in place during the pandemic last year have led to a lower cost base, which coupled with higher sales is now feeding through to the bottom line. COLTENE's management believes that the strong sales performance so far this year has partly been driven by catch-up effects. Many dental vendors took advantage of the coronavirus pandemic to temporarily reduce their inventories. Therefore, sales in the first half of the year cannot be extrapolated.

COLTENE's management anticipates sales of between CHF 140 million and CHF 145 million in the first half of the year (H1/2020: CHF 103.9 million; H1/2019: CHF 135.4 million), with sales slightly weaker in the second half of 2021 compared to the first half of the year. Sales are projected at between CHF 270 and CHF 280 million for the full year (previous year: CHF 248.4 million; 2019: CHF 273.8 million). This would represent an organic growth of around 5 to 8% in sales compared with 2019 in currency-adjusted terms. On these assumptions the EBIT margin is forecast to reach over 15% for the full year 2021. Certain costs, e.g. marketing and sales, will be higher this year. On top of this the outlook for the full year 2021 continues to involve risks and uncertainties relating to the COVID-19 pandemic. Detailed information on the company's financial performance will be published in the half-year report on August 6, 2021.

Financial calender

Release of Half-year Report 2021 and  August 6, 2021
Conference call on the half-year results 2021  
Release of Annual Report 2021 and  March 4, 2022
Media and analyst conference on 2021 financial year  
Annual General Meeting 2022 April 21, 2022
Release of Half-year Report 2022 and  August 5, 2022
Conference call on the half-year results 2022  

Sign up for email updates from COLTENE Holding AG at www.coltene.com.

For further information: Gerhard Mahrle, CFO,
phone +41 71 757 54 37, mobile +41 79 346 23 02, e-mail gerhard.mahrle@coltene.com

About COLTENE
COLTENE is an internationally active developer, manufacturer and seller of dental consumables and small equipment in the areas of Infection Control, Dental Preservation and Efficient Treatment. COLTENE has state-of-the-art production facilities in the USA, Canada, Germany, France, Brazil and Switzerland as well as own distribution organizations in all major markets including Europe, North and Latin America, China and India. Dentists and dental labs all around the globe trust COLTENE's high-quality products. The registered shares of COLTENE Holding AG (CLTN) are listed on SIX Swiss Exchange. Learn more about COLTENE and our products at www.coltene.com.

Contact information
COLTENE Holding AG
Feldwiesenstrasse 20
9450 Altstätten, Switzerland
P + 41 71 757 53 00
investor@coltene.com
www.coltene.com

This written statement and oral statements or other statements made, or to be made, by us contain forward-looking statements that do not relate solely to historical or current facts. These forward-looking statements are based on the current plans and expectations of our management and are subject to a number of uncertainties and risks that could significantly affect our current plans and expectations, as well as future results of operations and financial condition. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.



End of ad hoc announcement
Language: English
Company: COLTENE Holding AG
Feldwiesenstrasse 20
9450 Altstätten
Switzerland
ISIN: CH0025343259
Valor: 2534325
Listed: SIX Swiss Exchange
EQS News ID: 1210884

 
End of Announcement EQS Group News Service

1210884  23-Jun-2021 CET/CEST

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Financials
Sales 2021 273 M 295 M 295 M
Net income 2021 34,7 M 37,5 M 37,5 M
Net Debt 2021 22,6 M 24,5 M 24,5 M
P/E ratio 2021 21,0x
Yield 2021 2,32%
Capitalization 727 M 786 M 785 M
EV / Sales 2021 2,74x
EV / Sales 2022 2,49x
Nbr of Employees 1 189
Free-Float 44,7%
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 3
Last Close Price 121,60 CHF
Average target price 111,00 CHF
Spread / Average Target -8,72%
EPS Revisions
Managers and Directors
Martin Schaufelberger Chief Executive Officer
Gerhard Mahrle Chief Financial Officer
Nick Huber Chairman
Martin SchlŘter Vice President-Innovation, Research & Development
Stefan Helsing Chief Operating Officer
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