EQS-Adhoc

2020 Financial Year: Solid Performance Despite Decline in Sales - Seite 2

At the Annual General Meeting on March 31, 2021, the Board of Directors will propose a distribution of CHF 3.00 (2019: CHF 1.50) per share from capital contribution reserves for shareholder approval. For natural persons residing in Switzerland, this distribution is tax exempt.

The COLTENE Group has enjoyed a healthy start to 2021 even as business performance remains exposed to significant risks due to the COVID-19 pandemic. The Group serves the dental market and is benefiting from brisk demand for Infection Control products in particular, which have become far more important as a result of the pandemic. These products make dental practices safer and allow for dependable disinfection and compliance with the required hygiene standards. COLTENE plans to sustain the above-average innovation-led growth achieved in this strategic product group. With the anticipated gradual return of business activity to pre-pandemic levels, COLTENE expects demand to pick up also in Dental Preservation and Efficient Treatment.

The new EU Medical Device Regulation (MDR) comes into force in May 2021. COLTENE attained first MDR certification already in 2020, demonstrating the high quality standards of its products and processes.

Integrated and Focused
After reviewing its product portfolio in 2020, the COLTENE Group discontinued non-strategic products that are low-volume and have low EBIT margins. The integration of SciCan and Micro-Mega continued making strides, notably boosted by the Group-wide rollout of uniform software systems and processes. These include SAP for enterprise resource planning (ERP) and systems for centralized product information (PIM) and customer relationship management (CRM).

The COLTENE Group's Marketing and Sales teams maintained close customer contact despite the restrictions imposed by the pandemic. In support of these efforts, COLTENE expanded its electronic communication capabilities.

In 2020, all of Kenda's production was relocated and integrated in the existing facility and organization in Altstätten. On December 17, 2020, the sale of Brazilian subsidiary Vigodent was announced, and the transaction was completed by year-end 2020.