Top Stories
Straumann’s sales rise, boosted by strong demand in Asia-Pacific
Global Banking & Finance Review®
Company
(Reuters) -Swiss dental implants maker Straumann on Tuesday reported a double-digit percentage rise in its organic revenue for the third quarter, as more people sought dental services around the world, especially in the Asia-Pacific region.
Revenue grew to 585.5 million Swiss Francs ($676.6 million) in the quarter, up 11.2% when excluding currency exchange effects and acquisitions.
The Asia-Pacific market, which makes up around a quarter of Straumann’s sales, recorded the highest year-on-year increase with 19.7% organic growth, mainly driven by the implantology business.
The region registered double-digit growth also excluding the fast-growing Chinese market, thanks to contributions from markets such as Thailand, India and Malaysia.
Revenue from Europe, Middle East and Africa (EMEA), the group’s biggest market generating 37% of sales, rose 11.4%. North America recorded 2% growth as it continued to suffer from slow patient flows and a soft implantology market, bringing in 27.8% of group sales, Straumann said.
“Our commitment to our customers and the dedication of our teams have once again helped us grow strongly,” CEO Guillaume Daniellot said in the earnings statement.
Straumann confirmed its full-year guidance for organic revenue growth in a low double-digit percentage range and profitability at 27-28% of sales based on constant 2023 currency rates.
($1 = 0.8653 Swiss francs)
(Reporting by Alberto Chiumento in Gdansk; editing by Milla Nissi)
Organic revenue growth refers to the increase in sales generated by a company from its existing operations, excluding any revenue from acquisitions or currency exchange effects.
EMEA stands for Europe, the Middle East, and Africa, which is a geographical region often used in business to categorize markets and operations.
A CEO's statement is a communication from the Chief Executive Officer that outlines the company's performance, strategic direction, and future outlook.
Explore more articles in the Top Stories category
