Straumann Group (STMN) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue reached CHF 602.2 million, up 8.3% organically; nine-month revenue at CHF 2.0 billion, up 9.6% organically.

• Strong double-digit organic growth in EMEA (11.2%) and LATAM (18.0%), with solid results in NAM and robust APAC performance outside China, which softened due to VBP 2.0 anticipation.

• Strategic partnerships with Smartee/Smarty and Dental Monitoring advanced orthodontics transformation, innovation, and profitability.

• Launch of SIRIOS X3 intraoral scanner and operational ramp-up of Shanghai campus strengthened digital and supply chain capabilities.

• 2025 outlook confirmed: high single-digit organic revenue growth and 30–60 basis point EBIT margin improvement at constant 2024 currency rates.

Financial highlights

• Q3 2025 revenue: CHF 602.2 million (+8.3% organic); nine-month revenue: CHF 2.0 billion (+9.6% organic); reported growth impacted by FX headwinds.

• EMEA Q3 revenue: CHF 234.0 million (+11.2% organic); LATAM: CHF 62.3 million (+18.0% organic); NAM: CHF 161.6 million (+5.7% organic); APAC: CHF 144.3 million (+3.2% organic).

• Currency effects negatively impacted revenue, with a full-year top-line impact expected at 470–490 basis points.

• FX and M&A effects separated from organic growth in reporting.

• EMEA contributed about half of total revenue growth; LATAM contributed over 20%.

Outlook and guidance

• Full-year 2025 outlook confirmed: high single-digit organic revenue growth and 30–60 basis point improvement in core EBIT margin at constant 2024 currency rates.

• Tariff impacts expected to be CHF 20–25 million in 2025 and CHF 30 million in 2026, with mitigation measures in place.

• China and APAC expected to face challenges in Q4 and Q1 2026 due to VBP 2.0, but mid-term growth potential remains strong.

• Ongoing investments in innovation, digital transformation, and regional production capacity to support growth.

• Global patient flow expected to remain stable, with continued market outperformance.