COLTENE Holding AG / Key word(s): Miscellaneous
COLTENE Holding AG is holding an analyst and investor meeting at its headquarters in Altstätten today and provides a trading update on the first half of 2021. The positive performance previously announced for the first quarter has continued, with sales and earnings both running ahead of expectations this year. However, the company is expecting a slightly slower rate of growth in the second half of the year, as the catch-up and recovery effects from the coronavirus pandemic fade over time.
COLTENE expecting an excellent result for the first half of the year
The dental group expects sales to be up significantly in the first six months of this year on the same period last year and also higher than the pre-pandemic level in the first half of 2019, although there is a negative exchange rate effect of 6% compared with 2019. The cost-cutting measures put in place during the pandemic last year have led to a lower cost base, which coupled with higher sales is now feeding through to the bottom line. COLTENE's management believes that the strong sales performance so far this year has partly been driven by catch-up effects. Many dental vendors took advantage of the coronavirus pandemic to temporarily reduce their inventories. Therefore, sales in the first half of the year cannot be extrapolated.
COLTENE's management anticipates sales of between CHF 140 million and CHF 145 million in the first half of the year (H1/2020: CHF 103.9 million; H1/2019: CHF 135.4 million), with sales slightly weaker in the second half of 2021 compared to the first half of the year. Sales are projected at between CHF 270 and CHF 280 million for the full year (previous year: CHF 248.4 million; 2019: CHF 273.8 million). This would represent an organic growth of around 5 to 8% in sales compared with 2019 in currency-adjusted terms. On these assumptions the EBIT margin is forecast to reach over 15% for the full year 2021. Certain costs, e.g. marketing and sales, will be higher this year. On top of this the outlook for the full year 2021 continues to involve risks and uncertainties relating to the COVID-19 pandemic. Detailed information on the company's financial performance will be published in the half-year report on August 6, 2021.
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For further information: Gerhard Mahrle, CFO,
This written statement and oral statements or other statements made, or to be made, by us contain forward-looking statements that do not relate solely to historical or current facts. These forward-looking statements are based on the current plans and expectations of our management and are subject to a number of uncertainties and risks that could significantly affect our current plans and expectations, as well as future results of operations and financial condition. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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COLTENE Holding AG
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