Straumann Group (STMN) Q3 2024 earnings summary

Executive summary

• Achieved 11.2% organic revenue growth in Q3 2024, with nine-month revenue reaching CHF 1.9 billion and 14.5% organic growth.

• Gained market share globally, with EMEA and Asia Pacific delivering double-digit growth; APAC grew 19.7%, LATAM 18.9%, and North America 2.0% amid macroeconomic headwinds.

• Launched new digital solutions, including the global rollout of the SIRIOS/Sirius intraoral scanner and pre-launch of iExcel premium implant system in Europe.

• Continued significant investments in manufacturing capacity, including a new Neodent factory in Brazil and expansion of the China campus.

• Confirmed full-year 2024 outlook for low double-digit organic revenue growth and profitability in the 27%-28% range at constant 2023 currency rates.

Financial highlights

• Q3 2024 revenue reached CHF 586 million (CHF 585.5 million), up 11.2% organically; nine-month revenue totaled CHF 1.9 billion (CHF 1.86 billion), up 14.5% organically.

• EMEA delivered 11.4% organic growth in Q3, APAC 19.7%, LATAM 18.9%, and North America 2.0%.

• FX headwinds reduced top line by CHF 85 million (approx. 5% impact); M&A contributed CHF 21 million.

• Adjusted nine-month revenue base at CHF 1.6 billion.

• Revenue breakdown by currency: EUR 25%, USD/CAD/AUD 32%, CNY 15%, BRL 7%, CHF 2%, Other 20%.

Outlook and guidance

• 2024 outlook confirmed: low double-digit organic revenue growth and 27%-28% profitability at constant 2023 currency rates.

• Growth ambition for 2030 reaffirmed, targeting continued market outperformance.

• No significant change expected in Q4 dynamics; robust trends anticipated in EMEA, Asia Pacific, and Latin America.

• North America expected to improve as interest rates decline, with further clarity on 2025 outlook after Q4.

• Assumes stable global patient flow despite an uncertain economic environment.