

Facts and Figures
COLTENE is an international 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 US, Canada, Germany, France and Switzerland, as well as its own sales organizations in all major markets including North America, Europe, Japan, China, India and Latin America.
The COLTENE Group has 1 221 employees around the world (31 December 2022).
5-Year Overview 2018 - 2022
(in CHF million)
Net Sales
Net Profit
EBIT
Free Cash Flow
Net Sales by Region in %


North America
49.7
Latin America
4.4
EMEA
35.0
Asia
10.9
North America
49.7
Latin America
4.4
EMEA
35.0
Asia
10.9
Highlights 2022
mn Sales in CHF
Demand has normalized following record levels caused by the pandemic.
Dividend Yield
The proposed dividend yield is 4.3%.
Direct Customer Contacts
On average, 7 390 direct customer contacts were recorded in the new CRM/customer desk per month.
Gross margin
The gross margin was maintained thanks to price pass-throughs.
Diversity
In the overall workforce, men and women are represented in near-equal numbers.
MWh generated with proprietary energy source
The solar panels installed in Altstätten currently cover about 15% of the annual electricity demand.
Dear Shareholders,
We are pleased to present to you COLTENE’s 2022 annual report. 2022 was another very challenging year for COLTENE. The impact of the pandemic was still present. Supply chains had not normalized completely yet, and for the most part China was locked down. However, direct personal contact with our customers was again possible in almost all markets. Joint events, larger conferences, seminars, training programs, and meetings with customers gradually returned, and the newly opened training center in North America went operational.

Nick Huber, Chairman of the Board of Directors & Martin Schaufelberger, CEO (f.l.t.r.)
A challenging environment
In addition to the influences already mentioned, our business environment was marked by inflation and fears of recession, as well as the normalization of the record levels in 2021 (primarily for OPTIM surface disinfection wipes) due to the pandemic.
Thanks to our contact with dentists, we can tailor our products precisely to their needs.
COLTENE generated sales of CHF 267.1 million (-4.3% year on year, -3.5% at constant exchange rates). The strained economic environment and bottlenecks persisting in the supply chain – as well as the normalization of the high OPTIM volumes sold in 2021 – primarily impacted Infection Control, with a -6.9% decline (-9.3% at constant exchange rates) compared to the previous period. Dental Preservation and Efficient Treatment saw only slight changes of -3.1% and -2.9%, respectively, in CHF (-0.7% resp. -0.3% in local currency terms) compared to 2021. The downturn in Infection Control predominantly affected the North American market, while China recorded decreases across the product portfolio due to the lockdowns. The EMEA region, on the other hand, performed well, with sales growth of 4.2% in local currency terms.
Thanks to strict cost control and the stable gross margin, the smaller sales base resulted in an EBIT margin of just 13.1%, down 2.6 percentage points (2021: 15.7%). The operating profit (EBIT) was CHF 34.9 million (2021: CHF 43.8 million).
Customer focus
In addition to serving and supporting distributors (i.e. our direct customers), maintaining contact with end customers (dentists) is also vital for COLTENE. Their feedback tells us what customers require from our products in everyday use, and allow us to tailor them precisely to their needs.
This inspired us to launch a state-of-the-art customer support application. Along with the familiar sales support functionality, it features an integrated customer service module, where all inquiries and complaints are recorded and systematically processed. Systematic recording allows the app to learn from every case and use this knowledge to respond to new inquiries. Our new customer service is faster, more expert, and more efficient – and with that our image, too.
We are currently expanding this application to include repair processing and customer training. These are two more areas where we are learning more about how people are using and benefiting from our equipment and products. We use this information to further develop our products and services to enhance customer value.
Our new customer service – and therefore customers’ impression of COLTENE – stands out due to expertise, speed and efficiency..
Sustainability as an Integral Strategic Element
In view of the growing importance of sustainable practice and due to the new obligations for nonfinancial reporting, COLTENE introduced a new
project organization for this topic in 2022. The first step in this regard was to conduct a detailed materiality analysis. In 2023, key performance indicators (KPIs) will be derived from this, and specific targets and measures defined and implemented. Key projects – such as the expansion of the solar panels in Altstätten or the involvement of the workforce and suppliers in the sustainability project – will be initiated or continued in 2023. For more information, refer to the Sustainability report.
COLTENE is well prepared for the transition to the new European Medical Device Regulation (MDR). All the product ranges will meet the new MDR regulations in Europe by May 2024. We want to adhere to this target date, even if the EU is likely to extend the transition period. Hence, this major Group-wide project will tie up fewer resources from 2024 on. These resources will then increasingly become available again for innovation in Research & Development.
Evaluation of Potential Risks
The Group Management and the Board of Directors regularly assess COLTENE’s main business risks. A comprehensive risk assessment is conducted at least once a year. In this assessment, the relevant risks are systematically classified according to the likelihood of occurrence and the severity of the potential consequences. Potential risks and actions to contain these risks were examined once again during the year under review. The focus was on dealing with inflation, data loss due to cyber attacks, currency fluctuations, and general market risks.
Changes in Group Management and the Board of Directors
A new project organization is strengthening sustainable practice at COLTENE.
Outlook
The Board of Directors will propose a dividend of CHF 3.30 per share (4.3% dividend yield as at 31 December 2022) within the target distribution rate for shareholder approval (2021: CHF 3.30 per share, or 3% of the year-end price). This is to be fully funded from capital contribution reserves with foreign reference and as such remains tax-exempt for natural persons residing in Switzerland.In the medium term, COLTENE is expecting organic sales growth to outperform the market.
Thank you
On behalf of the Board of Directors and Group Executive Management, we would like to thank all our employees for their hard work this year. We are proud of our teams for the professionalism, customer focus and great enthusiasm they bring to their work, even when times are tough.
Special thanks also go to our loyal customers, new customers, business partners and shareholders for the trust they place in us.

Chairman of the Board of Directors

CEO
Focusing on Customer Value
At COLTENE, customer value has always been the focus of our business. It’s not just about delivering exceptional, effective and safe products for application workflows in dentistry. We aim to serve as a consultant, looking after the needs of dental practices at all levels and roles in the business. This approach makes COLTENE a reliable and solutiondriven partner for customers – whether in sales, R&D, training programs or routine issues that arise in a dental practice.

Our training programs enable us to maintain contact with our customers and establish a culture of partnership.


Thanks to our new customer desk function we are meeting our customers’ needs faster and more precisely and increased the quality of customer dialog.


Thanks to extensive customer contact, we can successfully push ahead with the further development of our product range and services.

Reports

Operational Review and Financial Commentary
Open Report
Sustainability Report
Open Report
Corporate Governance
COLTENE Holding AG
Open Report 
Compensation Report
Open Report
Financials COLTENE Group
Open Report
Financials COLTENE Holding AG
Open ReportReports

Operational Review and Financial Commentary
Open Report
Sustainability Report
Open Report
Corporate Governance
COLTENE Holding AG
Open Report 
Compensation Report
Open Report
Financials COLTENE Group
Open Report
Financials COLTENE Holding AG
Open ReportContact
Markus Abderhalden, CFO
Coltène Holding AG
Feldwiesenstrasse 20
9450 Altstätten
Phone: +41 71 757 54 80
E-mail: investor@coltene.com
Financial Calendar
3 March 2023
Release of Annual Report and media and analyst conference on 2022 financial year
19 April 2023
Annual General Meeting 2023
4 August 2023
Release of Half-year Report and media and analyst conference on 2023 half-year results
8 March 2024
Release of Annual Report and media and analyst conference on 2023 financial year
19 April 2024
Annual General Meeting 2024
8 August 2024
Release of Half-year Report and media and analyst conference on 2024 half-year results
Contact
Markus Abderhalden, CFO
Coltène Holding AG
Feldwiesenstrasse 20
9450 Altstätten
Phone: +41 71 757 54 80
E-mail: investor@coltene.com
Financial Calendar
3 March 2023
Release of Annual Report and media and analyst conference on 2022 financial year
19 April 2023
Annual General Meeting 2023
4 August 2023
Release of Half-year Report and media and analyst conference on 2023 half-year results
8 March 2024
Release of Annual Report and media and analyst conference on 2023 financial year
19 April 2024
Annual General Meeting 2024
8 August 2024
Release of Half-year Report and media and analyst conference on 2024 half-year results