Dental firm Straumann forecasts upbeat sales growth for 2023
(Reuters) - Swiss dental implants maker Straumann on Tuesday forecast organic sales growth in high-single-digit percentage in 2023, after reporting higher revenue in all its divisions, led by its core businesses, implantology and orthodontics.
The company, which specialises in tooth replacement and orthodontic solutions, reported revenue of 2.32 billion Swiss francs ($2.51 billion) for 2022, compared with 2.02 billion francs the year before, an organic growth of 15.7%.
"While some macroeconomic challenges may persist in 2023, we remain positive and will continue to invest in our growth and transformation," Chief Executive Guillaume Daniellot said in a statement.
The company's full-year sales grew in all regions except for the Asia Pacific, which was impacted by a slowdown in China.
Straumann said COVID-19 had a strong impact in China, especially in the fourth quarter, adding that the volume-based procurement (VPB) process in the country delayed treatments.
It said China's VBP tender system will impact the Asia-Pacific sales in 2023 as well.
The company reported annual net profit of 435 million francs, an increase of 36 million francs from the same period last year.
It proposed to increase its 2022 dividend to 0.80 francs per share, from 0.68 francs.
($1 = 0.9240 Swiss francs)
(Reporting by Bartosz Dabrowski and Anna Mackenzie in Gdansk; Editing by Kim Coghill and Vinay Dwivedi)