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30.04.2024 07:00:49 - dpa-AFX: EQS-Adhoc: Straumann Group showed a solid start into 2024, with varied regional growth dynamic (english)
Straumann Group showed a solid start into 2024, with varied regional growth
dynamic
Straumann Holding AG / Key word(s): Quarter Results
Straumann Group showed a solid start into 2024, with varied regional growth
dynamic
30-Apr-2024 / 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.
---------------------------------------------------------------------------
* Different regional growth dynamics, with Asia Pacific outperforming
* New premium implant system iEXCEL successfully launched in North America
* AlliedStar intraoral scanner launched in China
REVENUE BY REGION
Basel, April 30, 2024: Straumann Group started the year strongly with an
organic growth of 15.1% or 8.1% in Swiss francs, leading to a revenue of CHF
643.8 million in the first quarter. The demand across all business areas
remained high, with differentiated regional growth dynamics. China
experienced a larger patient flow due to the ongoing positive VBP effect and
the low base of comparison from last year's negative growth, while North
America faced some slower patient traffic due to the effect of continued
high interest rates. Overall, the premium implant business was the main
growth driver, while challenger brands further gained market share and
expanded geographically, and the digital business with intraoral scanners
grew strongly. The different segment dynamics in orthodontics persisted,
while the headwinds in the direct-to-consumer business, namely DrSmile,
continued, the business-to-business segment with clinicians performed well.
Guillaume Daniellot, Chief Executive Officer, said: "We are off to a strong
start in 2024, thanks to our teams which relentlessly focus on execution,
innovation, and growth. We successfully launched two important innovations
in the first quarter with our iEXCEL premium implant line in the US and the
AlliedStar intraoral scanner in China. These two launches demonstrate our
commitment to innovation and our ability to deliver value to our customers.
They also highlight our culture of excellence in execution, collaboration,
and customer-centricity. In addition, we are continuing to invest in our
future by expanding our manufacturing capacity and advancing our digital
transformation. With these achievements and despite the fact that the
following comparison quarters this year will be more demanding and
macroeconomic challenges will remain, we are confident that we are on track
to meet our 2024 outlook."
REGIONAL PERFORMANCES
Good growth in Europe, Middle East and Africa built on a strong comparison
quarter
The Europe, Middle East, and Africa (EMEA) region, as the Group's largest
region, reported revenue of CHF 283.9 million. This resulted in a 5.2%
organic revenue growth, considering a strong comparison base in the
prior-year period. Germany, France, and Spain remained the largest revenue
drivers. The Group continued to gain market share with both the premium and
challenger implantology brands. The orthodontics brand ClearCorrect grew
double-digit in the region overall, while the doctor-led direct-to-consumer
business, namely DrSmile, continued to be impacted by weak demand. In
addition, the Group acquired its long-standing distributor in Poland to
further accelerate growth.
North America with lower patient flow but continuing to outperform the
market
In the first quarter, North America's revenue was CHF 177.8 million, a 3.7%
organic growth despite a softening implantology market in the US, according
to Group estimates. The US, being the largest country in the region, showed
positive growth, while Canada performed well, leading to additional market
share gains in the region. The good performance was driven mainly by
immediacy implant solutions and the challenger brand Neodent, which
continued to grow well in the region. ClearCorrect continued to improve its
performance, and biomaterials showed good growth. The Straumann AXS platform
drove the Group's Smile-in-a-Box solution while customer demand for digital
solutions slowed down, also considering last year's very strong
first-quarter results in this business area.
Asia Pacific continued its extraordinary growth
The Asia Pacific region marked a historical high with CHF 130.8 million in
revenue and an organic growth of 82.0%. China stood out with its exceptional
organic growth, boosted by continued strong momentum and a low comparison
base. In the first quarter of 2023, the country suffered from COVID-19 and
postponed treatments, due to the anticipated implementation of the
volume-based procurement (VBP) process, which both had a severe impact on
patient flow. This first quarter, the implantology business was again the
primary growth driver, with both premium and challenger brands playing an
instrumental role. Neodent performed very well in Australia, India and
Southeast Asia, expanded geographically to Indonesia, and established an
education center in Malaysia. The orthodontics business contributed
positively to the overall regional performance, although on a lower basis.
Latin America - double-digit growth building on a strong comparison basis
With a revenue of CHF 51.4 million and an organic growth of 11.5% in the
first quarter, based on a high figure in the previous year, the Latin
America region (LATAM) achieved strong results thanks to all business
segments. Brazil, as the largest market in the region, maintained its
positive momentum. The Group increased its market share in Brazil and other
LATAM countries, especially Argentina and Peru, with its local implant
brand, Neodent. The ClearCorrect business also delivered an impressive
performance, expanding rapidly into new markets. Intraoral scanners also
contributed to the region's growth.
STRATEGIC PROGRESS / NEWS HIGHLIGHTS
High-performance premium implant system iExcel launched in North America
In March 2024, iEXCEL, a high-performance premium implant system, was
launched successfully in North America. The new implant system provides
clinicians with a unified prosthetic platform, a single connection and a
streamlined digital workflow facilitated by one instrument set. These
enhancements significantly reduce complexity and elevate the overall
clinical performance to better cater to the customers' diverse needs for
both bone and tissue-level procedures.
AlliedStar launched its first intraoral scanner in China
Intraoral scanners are the entry point to the dental digital workflow and
are, therefore, of strategic importance. In January 2024, AlliedStar
successfully launched its first intraoral scanner in China. Several
distributors and a dedicated digital sales team have been added to the
existing distribution channels. The launch offers customers in China a
competitive intraoral scanner solution.
ClearCorrect strengthened its value proposition
In the first quarter of the year, ClearCorrect further improved its value
proposition and launched its next software generation ClearPilot 8.0, which
offers advanced editing tools, expanding the workflow and simplifying the
visualization of treatment plans. The new Shared Services Center in Costa
Rica ramped up, providing solutions for Latin America, additional offerings
such as treatment planning for ClearCorrect and a customer service center as
well as shared services for the business unit Connected Customer Solutions
for North America.
Straumann AXS infrastructure is set up to fulfill different requirements in
all regions
In the first quarter of 2024, the Straumann Group made significant progress
in building the infrastructure of its digital platform, Straumann AXS, which
is now technically set up for all regions to support the customer experience
in ordering Straumann solutions. This is an important milestone, as
Straumann AXS serves as the foundation for an integrated cloud-based
clinical workflow for customers in both implantology and orthodontics. Going
forward, services are being added to the platform in a phased approach to
prepare for the launch in the regions beyond the US. In January 2024, the
Group received the critical ISO 27001 certification for Straumann AXS,
underscoring its commitment to maintaining the highest standards in
protecting sensitive information.
The Annual General Meeting approved all proposals including the election of
the new Chair, two new Board members, and the dividend increase
At the Annual General Meeting on April 12, 2024, the shareholders of
Straumann Holding AG approved all of the Board's proposals. This included
the elections of Petra Rumpf as Chair of the Board and Xiaoqun Clever-Steg
and Stefan Meister as new Board members. The increased cash dividend of CHF
0.85 per share was paid on April 18, 2024.
OUTLOOK 2024(2) CONFIRMED
The Group expects geopolitical and macroeconomic uncertainties to continue
to impact consumer demand in different geographies. Thanks to the
differentiated value proposition in its strategic segments, combined with
strong execution from all its team members worldwide, the Group remains
confident that it will continue to gain market share within its estimated
global addressable market of above CHF 19 billion. Furthermore, the Group
highlights its geographical diversification, catering to all price points,
and its extensive training efforts, resulting in more clinicians being able
to perform implant and orthodontic procedures. In the meantime, the Group
continues to invest in growth and transformation to maintain its competitive
edge in the future.
As a result, the Group confirms its outlook for 2024: to achieve organic
revenue growth in the high single-digit percentage range and profitability
at around 26% at constant 2023 currency rates or between 24% and 25%,
including expected FX headwinds.
About Straumann Group
The Straumann Group (SIX: STMN) is a global leader in tooth replacement and
orthodontic solutions that restore smiles and confidence. It unites global
and international brands that stand for excellence, innovation and quality
in replacement, corrective and digital dentistry, including Anthogyr,
ClearCorrect, Medentika, Neodent, NUVO, Straumann and other fully/partly
owned companies and partners. In collaboration with leading clinics,
institutes and universities, the Group researches, develops, manufactures
and supplies dental implants, instruments, CADCAM prosthetics, orthodontic
aligners, biomaterials and digital solutions for use in tooth correction,
replacement and restoration or to prevent tooth loss.
Headquartered in Basel, Switzerland, the Group currently employs more than
11'000 people worldwide. Its products, solutions and services are available
in more than 100 countries through a broad network of distribution
subsidiaries and partners.
Straumann Holding AG, Peter Merian-Weg 12, 4002 Basel, Switzerland
Phone: +41 (0)61 965 11 11
Homepage: www.straumann-group.com
Contacts:
ANALYSTS' AND MEDIA CONFERENCE CALL
Straumann will present its 2024 first-quarter results to representatives of
the financial community and media in a webcast telephone conference call
today at 10.30 a.m. Swiss time.
The webcast can be accessed via www.straumann-group.com/webcast. A replay of
the webcast will be available after the conference.
If you intend to ask a question during the Q&A, we kindly ask you to
pre-register for the conference call through this link "Conference call". We
also recommend that you download the presentation file in advance using the
direct link in this media release before joining the conference call.
Presentation
The conference presentation slides are attached to this release and
available on the Media and Investors pages at www.straumann-group.com.
UPCOMING CORPORATE / INVESTOR EVENTS
Disclaimer
This release contains forward-looking statements that reflect the current
views of management, and which are subject to known and unknown risks,
uncertainties and other factors that may cause actual results, performance
or achievements of the Straumann Group to differ materially from those
expressed or implied in this document. Statements are made on the basis of
management's views and assumptions regarding future events and business
performance at the time the statements are made. They are subject to risks
and uncertainties including, but not confined to, future global economic
conditions, pandemics, exchange rates, legal provisions, market conditions,
activities by competitors and other factors outside Straumann's control.
Should one or more of these risks or uncertainties materialize or should
underlying assumptions prove incorrect, actual outcomes may vary materially
from those forecasted or expected. Straumann is providing the information in
this release as of this date and does not undertake any obligation to update
any statements contained in it as a result of new information, future events
or otherwise. This release constitutes neither an offer to sell nor a
solicitation to buy any securities.
# # #
---------------------------------------------------------------------------
(1) Excluding currency effects and acquisitions
(2) Barring unforeseen events.
News Source: Straumann Holding AG
---------------------------------------------------------------------------
End of Inside Information
---------------------------------------------------------------------------
End of Announcement EQS News Service
---------------------------------------------------------------------------
1892325 30-Apr-2024 CET/CEST
dynamic
Straumann Holding AG / Key word(s): Quarter Results
Straumann Group showed a solid start into 2024, with varied regional growth
dynamic
30-Apr-2024 / 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.
---------------------------------------------------------------------------
* Strong organic revenue growth of 15.1% and first-quarter revenue of CHF
643.8 million
* Different regional growth dynamics, with Asia Pacific outperforming
* New premium implant system iEXCEL successfully launched in North America
* AlliedStar intraoral scanner launched in China
* Outlook 2024 confirmed: the Group aims to achieve organic revenue growth
in the high single-digit percentage range and profitability at around
26% at constant 2023 currency rates or between 24% and 25% including
expected FX headwind
REVENUE BY REGION
(in CHF million) Q1 2024 Q1 2023
Europe, Middle East & Africa (EMEA) 283.9 286.6
Change in CHF in % -0.9 +7.2
Change in local currencies in % +7.5 +12.3
Change organic(1) in % +5.2 +9.2
% of Group total 44.1 48.1
North America (NAM) 177.8 181.9
Change in CHF in % -2.3 +7.0
Change in local currencies in % +3.7 +7.2
Change organic1 in % +3.7 +7.2
% of Group total 27.6 30.5
Asia Pacific 130.8 79.9
Change in CHF in % +63.7 -28.9
Change in local currencies in % +84.2 -22.7
Change organic1 in % 82.0 -23.5
% of Group total 20.3 13.4
Latin America 51.4 47.2
Change in CHF in % +8.8 +20.1
Change in local currencies in % +11.5 +20.0
Change organic1 in % +11.5 +20.0
% of Group total 8.0 7.9
GROUP 643.8 595.6
Change in CHF in % +8.1 +1.1
Change in local currencies in % +16.5 +4.9
Change organic1 in % +15.1 +3.4
Basel, April 30, 2024: Straumann Group started the year strongly with an
organic growth of 15.1% or 8.1% in Swiss francs, leading to a revenue of CHF
643.8 million in the first quarter. The demand across all business areas
remained high, with differentiated regional growth dynamics. China
experienced a larger patient flow due to the ongoing positive VBP effect and
the low base of comparison from last year's negative growth, while North
America faced some slower patient traffic due to the effect of continued
high interest rates. Overall, the premium implant business was the main
growth driver, while challenger brands further gained market share and
expanded geographically, and the digital business with intraoral scanners
grew strongly. The different segment dynamics in orthodontics persisted,
while the headwinds in the direct-to-consumer business, namely DrSmile,
continued, the business-to-business segment with clinicians performed well.
Guillaume Daniellot, Chief Executive Officer, said: "We are off to a strong
start in 2024, thanks to our teams which relentlessly focus on execution,
innovation, and growth. We successfully launched two important innovations
in the first quarter with our iEXCEL premium implant line in the US and the
AlliedStar intraoral scanner in China. These two launches demonstrate our
commitment to innovation and our ability to deliver value to our customers.
They also highlight our culture of excellence in execution, collaboration,
and customer-centricity. In addition, we are continuing to invest in our
future by expanding our manufacturing capacity and advancing our digital
transformation. With these achievements and despite the fact that the
following comparison quarters this year will be more demanding and
macroeconomic challenges will remain, we are confident that we are on track
to meet our 2024 outlook."
REGIONAL PERFORMANCES
Good growth in Europe, Middle East and Africa built on a strong comparison
quarter
The Europe, Middle East, and Africa (EMEA) region, as the Group's largest
region, reported revenue of CHF 283.9 million. This resulted in a 5.2%
organic revenue growth, considering a strong comparison base in the
prior-year period. Germany, France, and Spain remained the largest revenue
drivers. The Group continued to gain market share with both the premium and
challenger implantology brands. The orthodontics brand ClearCorrect grew
double-digit in the region overall, while the doctor-led direct-to-consumer
business, namely DrSmile, continued to be impacted by weak demand. In
addition, the Group acquired its long-standing distributor in Poland to
further accelerate growth.
North America with lower patient flow but continuing to outperform the
market
In the first quarter, North America's revenue was CHF 177.8 million, a 3.7%
organic growth despite a softening implantology market in the US, according
to Group estimates. The US, being the largest country in the region, showed
positive growth, while Canada performed well, leading to additional market
share gains in the region. The good performance was driven mainly by
immediacy implant solutions and the challenger brand Neodent, which
continued to grow well in the region. ClearCorrect continued to improve its
performance, and biomaterials showed good growth. The Straumann AXS platform
drove the Group's Smile-in-a-Box solution while customer demand for digital
solutions slowed down, also considering last year's very strong
first-quarter results in this business area.
Asia Pacific continued its extraordinary growth
The Asia Pacific region marked a historical high with CHF 130.8 million in
revenue and an organic growth of 82.0%. China stood out with its exceptional
organic growth, boosted by continued strong momentum and a low comparison
base. In the first quarter of 2023, the country suffered from COVID-19 and
postponed treatments, due to the anticipated implementation of the
volume-based procurement (VBP) process, which both had a severe impact on
patient flow. This first quarter, the implantology business was again the
primary growth driver, with both premium and challenger brands playing an
instrumental role. Neodent performed very well in Australia, India and
Southeast Asia, expanded geographically to Indonesia, and established an
education center in Malaysia. The orthodontics business contributed
positively to the overall regional performance, although on a lower basis.
Latin America - double-digit growth building on a strong comparison basis
With a revenue of CHF 51.4 million and an organic growth of 11.5% in the
first quarter, based on a high figure in the previous year, the Latin
America region (LATAM) achieved strong results thanks to all business
segments. Brazil, as the largest market in the region, maintained its
positive momentum. The Group increased its market share in Brazil and other
LATAM countries, especially Argentina and Peru, with its local implant
brand, Neodent. The ClearCorrect business also delivered an impressive
performance, expanding rapidly into new markets. Intraoral scanners also
contributed to the region's growth.
STRATEGIC PROGRESS / NEWS HIGHLIGHTS
High-performance premium implant system iExcel launched in North America
In March 2024, iEXCEL, a high-performance premium implant system, was
launched successfully in North America. The new implant system provides
clinicians with a unified prosthetic platform, a single connection and a
streamlined digital workflow facilitated by one instrument set. These
enhancements significantly reduce complexity and elevate the overall
clinical performance to better cater to the customers' diverse needs for
both bone and tissue-level procedures.
AlliedStar launched its first intraoral scanner in China
Intraoral scanners are the entry point to the dental digital workflow and
are, therefore, of strategic importance. In January 2024, AlliedStar
successfully launched its first intraoral scanner in China. Several
distributors and a dedicated digital sales team have been added to the
existing distribution channels. The launch offers customers in China a
competitive intraoral scanner solution.
ClearCorrect strengthened its value proposition
In the first quarter of the year, ClearCorrect further improved its value
proposition and launched its next software generation ClearPilot 8.0, which
offers advanced editing tools, expanding the workflow and simplifying the
visualization of treatment plans. The new Shared Services Center in Costa
Rica ramped up, providing solutions for Latin America, additional offerings
such as treatment planning for ClearCorrect and a customer service center as
well as shared services for the business unit Connected Customer Solutions
for North America.
Straumann AXS infrastructure is set up to fulfill different requirements in
all regions
In the first quarter of 2024, the Straumann Group made significant progress
in building the infrastructure of its digital platform, Straumann AXS, which
is now technically set up for all regions to support the customer experience
in ordering Straumann solutions. This is an important milestone, as
Straumann AXS serves as the foundation for an integrated cloud-based
clinical workflow for customers in both implantology and orthodontics. Going
forward, services are being added to the platform in a phased approach to
prepare for the launch in the regions beyond the US. In January 2024, the
Group received the critical ISO 27001 certification for Straumann AXS,
underscoring its commitment to maintaining the highest standards in
protecting sensitive information.
The Annual General Meeting approved all proposals including the election of
the new Chair, two new Board members, and the dividend increase
At the Annual General Meeting on April 12, 2024, the shareholders of
Straumann Holding AG approved all of the Board's proposals. This included
the elections of Petra Rumpf as Chair of the Board and Xiaoqun Clever-Steg
and Stefan Meister as new Board members. The increased cash dividend of CHF
0.85 per share was paid on April 18, 2024.
OUTLOOK 2024(2) CONFIRMED
The Group expects geopolitical and macroeconomic uncertainties to continue
to impact consumer demand in different geographies. Thanks to the
differentiated value proposition in its strategic segments, combined with
strong execution from all its team members worldwide, the Group remains
confident that it will continue to gain market share within its estimated
global addressable market of above CHF 19 billion. Furthermore, the Group
highlights its geographical diversification, catering to all price points,
and its extensive training efforts, resulting in more clinicians being able
to perform implant and orthodontic procedures. In the meantime, the Group
continues to invest in growth and transformation to maintain its competitive
edge in the future.
As a result, the Group confirms its outlook for 2024: to achieve organic
revenue growth in the high single-digit percentage range and profitability
at around 26% at constant 2023 currency rates or between 24% and 25%,
including expected FX headwinds.
About Straumann Group
The Straumann Group (SIX: STMN) is a global leader in tooth replacement and
orthodontic solutions that restore smiles and confidence. It unites global
and international brands that stand for excellence, innovation and quality
in replacement, corrective and digital dentistry, including Anthogyr,
ClearCorrect, Medentika, Neodent, NUVO, Straumann and other fully/partly
owned companies and partners. In collaboration with leading clinics,
institutes and universities, the Group researches, develops, manufactures
and supplies dental implants, instruments, CADCAM prosthetics, orthodontic
aligners, biomaterials and digital solutions for use in tooth correction,
replacement and restoration or to prevent tooth loss.
Headquartered in Basel, Switzerland, the Group currently employs more than
11'000 people worldwide. Its products, solutions and services are available
in more than 100 countries through a broad network of distribution
subsidiaries and partners.
Straumann Holding AG, Peter Merian-Weg 12, 4002 Basel, Switzerland
Phone: +41 (0)61 965 11 11
Homepage: www.straumann-group.com
Contacts:
Corporate Communication Silvia Investor Relations Marcel
Dobry: +41 (0)61 965 15 62 Jana Kellerhals: +41 (0)61 965 17 51
Erdmann: +41 (0)61 965 12 39 Derya Güzel +41 (0)61 965 18 76
Frank Keidel +41 (0)61 965 19 76 E-mail:
E-mail: (1)investor.relations@straumann.com
corporate.communication@strauman 1.
n.com mailto:investor.relations@straumann
.com
ANALYSTS' AND MEDIA CONFERENCE CALL
Straumann will present its 2024 first-quarter results to representatives of
the financial community and media in a webcast telephone conference call
today at 10.30 a.m. Swiss time.
The webcast can be accessed via www.straumann-group.com/webcast. A replay of
the webcast will be available after the conference.
If you intend to ask a question during the Q&A, we kindly ask you to
pre-register for the conference call through this link "Conference call". We
also recommend that you download the presentation file in advance using the
direct link in this media release before joining the conference call.
Presentation
The conference presentation slides are attached to this release and
available on the Media and Investors pages at www.straumann-group.com.
UPCOMING CORPORATE / INVESTOR EVENTS
2024 Event Location
15 May Deutsche Bank Q1'24 Roadshow Frankfurt
16 May Mirabaud Swiss Equity Conference Geneva
5 June BNP Exane Conference Paris
11 June Stifel Swiss Equities Conference Interlaken
20 June JP Morgan European HC Conference London
27 June Stifel European HC Conference Lyon
14 August Q2'24 Earnings Announcement Basel
15-16 August Jefferies Q2'24 Roadshow London
Disclaimer
This release contains forward-looking statements that reflect the current
views of management, and which are subject to known and unknown risks,
uncertainties and other factors that may cause actual results, performance
or achievements of the Straumann Group to differ materially from those
expressed or implied in this document. Statements are made on the basis of
management's views and assumptions regarding future events and business
performance at the time the statements are made. They are subject to risks
and uncertainties including, but not confined to, future global economic
conditions, pandemics, exchange rates, legal provisions, market conditions,
activities by competitors and other factors outside Straumann's control.
Should one or more of these risks or uncertainties materialize or should
underlying assumptions prove incorrect, actual outcomes may vary materially
from those forecasted or expected. Straumann is providing the information in
this release as of this date and does not undertake any obligation to update
any statements contained in it as a result of new information, future events
or otherwise. This release constitutes neither an offer to sell nor a
solicitation to buy any securities.
# # #
---------------------------------------------------------------------------
(1) Excluding currency effects and acquisitions
(2) Barring unforeseen events.
News Source: Straumann Holding AG
---------------------------------------------------------------------------
End of Inside Information
---------------------------------------------------------------------------
Language: English
Company: Straumann Holding AG
Peter Merian-Weg 12
4052 Basel
Switzerland
Phone: +41619651239
Fax: +41 61 965 11 06
E-mail: jana.erdmann@straumann.com
Internet: www.straumann-group.com
ISIN: CH1175448666
Valor: 914326
Listed: SIX Swiss Exchange
EQS News ID: 1892325
End of Announcement EQS News Service
---------------------------------------------------------------------------
1892325 30-Apr-2024 CET/CEST
