Half Year 2024 Straumann Holding AG Earnings Call Transcript
Key Points
- Straumann Holding AG (SAUHF) reported a strong revenue of CHF1.3 billion for the first six months of 2024, reflecting a 16.1% growth.
- The company achieved a core EBIT margin of 27.8%, despite facing currency headwinds.
- The EMEA region showed robust performance with 12.4% organic revenue growth, driven by key markets like Italy, Iberia, Germany, and Eastern Europe.
- Asia Pacific was the fastest-growing region, with significant contributions from brands like Anthogyr and Straumann.
- The company successfully hosted the largest IPI congress ever in Singapore, enhancing its global presence and showcasing innovations.
- Currency fluctuations, particularly the depreciation of the euro, Chinese renminbi, and various emerging market currencies, negatively impacted revenue by CHF20 million.
- The North American market showed only a modest 5.3% organic revenue growth, indicating slower performance compared to other regions.
- The sale of the DR SMILE business to Impress Group led to a restatement of financials, which may cause some investor uncertainty.
- The company faces ongoing geopolitical and macroeconomic uncertainties, which could impact future performance.
- Despite strong overall performance, the ClearCorrect business in North America remained flat to slightly down, indicating challenges in that market.
Good morning or afternoon to all of you. Thank you for attending this conference call on the Straumann Group's half year results. Please take note of the disclaimer in our media release on Slide 2. As usual, the presentation and discussion will include some forward-looking statements.
During this conference, we are going to refer to the presentation slides that were published on our website this morning. As shown on the agenda on Slide 3, I will go through the highlights first; Yang Xu, our CFO, will share the financial details; and then I will provide an update on our strategic progress and outlook. At the end of the presentation, we will both be more than happy to answer your questions.
Let's start with our highlights and move directly to Slide 5. As you have seen this morning in the media release, we signed a definitive agreement to sell our DR SMILE business to the Impress Group. Subsequently, we have restated the numbers to refer to continuing operations if not mentioned
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