AAL Investment Forum 2010 - A success story in the market place: Doro


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Jérôme Arnaud, DORO AB, Sweden


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AAL Investment Forum 2010 - A success story in the market place: Doro

  1. 1. Click to edit Master subtitle style meeting Jérôme Arnaud, President & CEO Odense, Sept 14h, 2010
  2. 2. It all began in New Volvo 1974 … when Claes Bühler challenged the Swedish telecom monopoly DORO answer machine with an answer machine named “DORO” ABBA wins Eurovision song contest - Waterloo
  3. 3. We are transforming Doro A world-wide niche Commodity products telephone company for addressing senior market some European and generating markets profitable growth
  4. 4. Business structure Care Electronics Home Electronics • Telecom devices for seniors • Telecom devices for Home • GSM, fixed line tel, remote for TV • Fixed line telephony • Retail, Telco, Specialized channels • Retail sales mainly • Europe, US, Asia • Nordics, UK & France
  5. 5. Home Electronics business unit • Corded, Cordless (Dect), Headset, Walkie Talkie and Baby Monitors • The largest supplier in the Nordic market • A major player in the Business market in UK • Among the top players in the French market
  6. 6. Home Electronics • Refocused to shorter range and selected distributors • Showing profit in Q1 2010
  7. 7. Doro decided to focus on Care • Research shows major rise in global senior population over next 50 years • Large percentage of seniors will be affected by reduced hearing, vision, dexterity, sense of security, etc • Early success with big-button phone leads Doro to develop all-new Telecom Care Electronics • New partner strategy for ergonomic and scientific product design and development
  8. 8. Our mission We help people who face the challenges of ageing to live an easier, safer and more fulfilling everyday life by developing products especially adapted to their needs
  9. 9. Our strategy Focused and niche oriented Telecom Target 65+ Brand identity Innovation and improved ease of use Category leadership Worldwide presence
  10. 10. Enormous market already today people around the world are 65 or older! 518 000 000
  11. 11. Dramatic changes • World Wide population 65+ in 20091 518 millions • i.e. 7,7 % of total population Asia 281 millions Europe 119 i.e. 6,9 % North America 56 millions i.e.16,3 % millions i.e. 10,6 % Africa 32 millions i.e. 3,3 % South America 26 Oceania 4 millions millions i.e. 6,8 % i.e. 10,9 % 1) U.S Census Bureau. International Data Base 2010. www.census.gov 2) This indicator is defined as the projected number of persons aged 65 and over expressed as a percentage of the projected number of persons aged between 15 and 64. EU statistics 2008.
  12. 12. Doro 2009 TV-campaign Germany, France, Sweden, Norway and Finland More than 750 spots and Recent UK TV campaign More than 21 million potential consumers reached (net reach) Which have seen the spot 5,2 times in average
  13. 13. Doro’s study Feb. 2010 More than 2,000 telephone interviews in USA, Germany, UK, France and Sweden by Synovate. The people interviewed were all 65 or older. Key findings: • 71% of seniors in these countries have access to a mobile phone, – Differences between the 65-74 and 75+ age groups. Nearly 90% of the ones 65-74 have a mobile phone, only two-thirds of the 75+. – Seniors use their mobile phone mostly to make calls (82%) and secondly for text messages (35%) • 42% still feel intimidated and hesitant of new technology – With some differences: USA in the front line (35%), Sweden (38%), Germany (38%) and UK (56%). A more considered approach in France (61%).
  14. 14. Leading the category Telecom in Care Electronics We have reached above 9% of 65+ penetration in some markets for our mobiles
  15. 15. Doro “DNA”:Smart form and function Bringing users one or more of these key befits • easier to read • easier to understand and use • better adapted to the user • easier to hear • helpful for remembering • easier to handle • improving the user’s safety
  16. 16. Stiftung Warentest – Germany • Doro PhoneEasy® 410gsm has been ranked the best phone for seniors by the independent German testing institute Stiftung Warentest. • A favorable mention by Stiftung Warentest is one of the best accolades a product can receive in Germany. • “The Doro Phone Easy® 410gsm makes a very convincing proposition with its easily navigated menus and straightforward handling of functions. This clamshell mobile phone for seniors also works well for users with impaired sight, hearing and/or dexterity problems,” writes Stiftung Warentest in No. 4/2010 of its magazine “test”.
  17. 17. Focus Online – Germany
  18. 18. Computer Bild – Germany
  19. 19. Dagens Nyheter – Sweden • Doro PhoneEasy® 410gsm was the winner in a test of senior mobile phones in March in Dagens Nyheter, one of the largest newspapers in Sweden.
  20. 20. RNID – UK • The Royal National Institute for Deaf People (RNID) is a charitable organization working on behalf of the UK’s 9 million deaf and hard of hearing people • Recommended Doro PhoneEasy® 410gsm in a big test in September 2009
  21. 21. Que Choisir – France • An independent magazine in France, Que Choisir, that is published by the Federal Union of French Consumers has ranked Doro PhoneEasy® 410gsm as the best choice in their April 2010 issue
  22. 22. Consumentenbond – the Netherlands • Doro PhoneEasy® 410gsm was in May 2010 elected “BEST BUY – SENIORS GSM’s” in the Netherlands by the National Consumers Association (Consumentenbond)
  23. 23. Iltalehti – Finland • The biggest afternoon newspaper in Finland, Iltalehti, had a senior mobile test in May 2010. The Doro PhoneEasy® 410gsm was the winner.
  24. 24. Taenk – Denmark
  25. 25. Choice – Australia • In its review of April 2010 "Choice" the leading Australian consumer magazine rated the Doro PhoneEasy® 410gsm the number one mobile phone for seniors
  26. 26. Total experience of quality
  27. 27. Geographical expansion beyond Nordics in 5 continents Carphone Warehouse Group 20:20 mobile Vodafone German retail, Consumer Vodafone CSL Cellular Orange, SFR & Bouygues 20:20 Mobile Claro
  28. 28. Strong & structured customer portfolio Telecom operators Consumer Electronic Hypermarkets Telecom specialists retailers Telecom distributors Care specialist channels
  29. 29. Focus on Care Electronics growth % 100 We focus on the growth in 30 80 40 Care Electronics. 60 We are still present 60 84 in the Home fixed 93 line telephony. 40 70 60 20 40 16 7 0 2006 2007 2008 2009 Q1 2010 Care Home
  30. 30. Doro key indicators Sales per business unit, SEK m Sales by geographical markets, % Rest of world, 8% United Kingdom, 10% * Qty of mobiles Nordic Region, 34% Continental Europe, 48% 320k* Care Electronics 150k* Home Electronics Business Electronics Sales per employee, SEK EBIT, SEK m m/person
  31. 31. Our key success factors (1/2) • We are dedicated and focused • We are smart enough to listen to end-users, react fast and adapt our product offering to the target group evolution • We are technically skilled to get our devices approved by ATT, Orange, Vodafone, Telia, Telenor, GCF labs • We have been fast and the first player developping a full offer on a world wide basis • We are the market leader and the biggest dedicated player with a recognized brand
  32. 32. Our key success factors (2/2) • We have access to the best manufacturing plants and R&D, but still with unique platforms and devices • We have patents agreements with main patents owners • We are small enough to react fast and accept niche deals • We are solid financially and can grow fast as – We are a stock listed company supported by investors ready to follow us and – Have a lot of resources outsourced to partners that can scale fast
  33. 33. Doro is a stock listed company Doro share Small cap Stockholm 08 09 • Company capitalization is worth 460 MSEK = 45 M€ approx
  34. 34. What is next and beyond current plan? • We intend to enrich and create IP around simplicity / ease of use • We intend to enrich the value of our hardware making them more applicative devices – Application / content – Service • And developping or participating to an eco-system where GSM can break some bareers • But still: – Being user centric and not technological centric organization – Help them ageing at home with more safety & pleasure, keeping it simple – Be even more relevant reducing the anxiety of a generation towards his parents left alone or at risk