Earnings Release • Mar 7, 2025
Earnings Release
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Ad hoc announcement pursuant to Art. 53 LR
Ad hoc announcement pursuant to Art. 53 LR
Altstätten, 7 March 2025
COLTENE Holding AG, a leading international developer and manufacturer of dental consumables and small equipment, achieved a strong result in the financial year 2024. Sales reached CHF 250.2 million, an increase of 3.1% in CHF and 6.3% in local currencies. The EBIT margin also rose significantly to 10.7% (previous year: 8.1%) and net profit to CHF 20.5 million (+71.3%). The equity ratio amounted to 58.2% compared to 55.2% in the previous year. Free cash flow increased again (CHF 20.0 million compared to CHF 17.4 million) and net debt was reduced from CHF 26.6 million to CHF 18.1 million. The Board of Directors will propose a repayment in line with the target payout ratio of 70% of CHF 2.50 from capital contribution reserves (previous year: CHF 2.00) to the Annual General Meeting. The repayment is tax-free for natural persons resident in Switzerland .
COLTENE completed a successful financial year. Group sales increased by 6.3% in local currencies, benefiting from significant growth in North America. In 2023, this region was heavily impacted by a dealer destocking, which has now returned to normal. At the same time, COLTENE was able to gain market share in Infection Control in North America, despite a flat market thanks to successful marketing initiatives. Overall, North America improved significantly by 13.1% in local currencies, with a share of sales reaching 48.9% (2023: 46.2%). By contrast, sales in Europe, Middle East and Africa (EMEA) fell slightly (-0.7% in local currencies, -2.3% in CHF), primarily due to difficult market conditions in the UK and geopolitical developments in the Middle East. The share of group sales amounted to 34.9% (2023: 36.9%). Asia and Latin America accounted for 10.4% and 5.8% in 2024 (previous year: 10.9% and 6.0% respectively) and grew by 3.5% and 2.0% in local currencies. In reporting currency, sales in these two regions fell by -2.1% and -0.2% respectively.
All product groups improved their sales in local currencies. In particular, Infection Control (up 10.3% in local currencies or 6.0% in CHF) and Dental Preservation & Improvement (up 7.3% in local currencies or 4.5% in CHF) grew significantly in the financial year 2024. In contrast, Treatment Auxiliaries declined slightly in the reporting currency by -0.2%, but increased by 2.3% in local currencies. The share of sales fell from 40.9% to 39.6%. The shares of Infection Control and Dental Preservation & Improvement amounted to 34.1% and 26.3% respectively (previous year: 33.1% and 26.0%). The breakdown of product areas was revised in 2024 (and retrospectively for the financial year 2023 for comparison purposes). The comparison with previous years (2022 and earlier) is therefore only of limited relevance. The adjustments were made due to the strategic realignment with a focus on the preservation and enhancement of natural teeth. The adjusted breakdown enables more targeted management and market positioning of the product groups.
The higher sales had a positive impact on profitability. COLTENE also benefited from a slightly higher-margin product mix and realized savings through the consistent implementation of cost control and the implementation of the operational excellence strategy. With the launch of the tooth whitener BRILLIANT Lumina and further strategic investments in Marketing & Sales, operating expenses increased, although with a view to future growth.
Changes to the Board of Directors and Group Management
As already announced, Nick Huber, Chairman of the Board of Directors, will not be standing for re-election at the Annual General Meeting 2025 and Matthias Altendorf will be proposed as his successor. Martin Schaufelberger will be newly proposed for election to the Board of Directors. He was CEO of the COLTENE Group for many years. Finally, Board member Jürgen Rauch will not stand for re-election as a member of the Compensation Committee but will remain on the Board of Directors. Daniel Bühler will be newly proposed as a member of the Compensation Committee.
Dominik Arnold took over as CEO of the COLTENE Group in January 2024. Di Hu, Chief Sales Officer (worldwide excluding North America), joined Group Management in April and Mattias Flodin, Chief Marketing Officer, in November. To facilitate a focused innovation strategy and targeted product development, Research & Development was newly divided into the two areas Consumables and Equipment. The two newly created management positions have been filled internally and report directly to the CEO. Martin Schlüter, VP Research & Development, stepped down from Group Management on 31 January 2025 and will leave the company.
Outlook: Further increase in sales and profitability expected
As a result of the implementation of the 2025-2027 strategy, COLTENE expects a further increase in sales of 3-5% in local currencies for the financial year 2025. The EBIT margin is expected to be in the range of 11%, taking into account further structural investments in Marketing & Sales as well as the development of new products and services for future growth. This outlook assumes that geopolitical risks will not worsen. In the medium term, COLTENE is maintaining its previously communicated targets of 3-5% organic sales growth and an EBIT margin of 13-15%.
Media and analyst conference / webcast
Today Friday, March 7, 2024, 10 a.m. CET, Haus zum Rüden, Limmatquai 42, 8001 Zurich. Reception from 9.30 a.m. CET. The presentation documents are available for download at invest.coltene.com .
Annual General Meeting 2025
The Annual General Meeting of COLTENE Holding AG will take place on Wednesday, April 23, 2025, at 4 p.m. CET at the Hotel-Restaurant Sonne, Kugelgasse 2, in 9450 Altstätten. Door opening is at 3.30 p.m. CET. The full invitation is available for download at invest.coltene.com .
Annual Report 2024
The 2024 Annual Report 2024 of COLTENE Holding AG is available at invest.coltene.com
| Key figures (in CHF 1 000) | 2024 | 2023 | Delta in % |
| Net sales | 250 159 | 242 729 | 3.1% |
| Operating expenses | 131 961 | 129 477 | 1.9% |
| Operating profit (EBIT) | 26 841 | 19 608 | 36.9% |
| in % of net sales | 10.7% | 8.1% | |
| Net profit | 20 466 | 11 947 | 71.3% |
| Cash flow from operating activities | 28 562 | 25 976 | 10.0% |
| Investments (net) | 8 525 | 8 561 | -0.4% |
| Free cash flow | 20 037 | 17 415 | 15.1% |
| Key figures (in CHF 1 000) | 31.12.24 | 31.12.23 | Delta in % |
| Net debt | -18 143 | -26 640 | -31.9% |
| Total assets | 186 946 | 175 422 | 6.6% |
| Shareholder’s equity | 108 796 | 96 874 | 12.3% |
| in % of total assets | 58.2% | 55.2% | |
| Distribution per share in CHF | 2.50 1 | 2.00 | 25.0% |
| Payout ratio | 73% | 100% | |
| Number of employees (FTE) | 1 176 | 1 183 | -0.6% |
1 Board of Directors’ proposal to the Annual General Meeting 2025 (repayment from capital contribution reserves)
| Contact Investor Relations |
| Markus Abderhalden, CFO Phone +41 71 757 54 80 Mobile +41 79 436 26 22 E-Mail [email protected] |
To receive regular updates on the latest information about COLTENE Holding AG, please register at invest.coltene.com .
| Financial Calendar | |
| Annual General Meeting 2025 | 23 April 2025 |
| Release Half-Year Report and Media and analyst conference on the half-year results 2025 |
25 July 2025 |
| Release of Annual Report and Media and analyst conference on the financial results 2025 |
6 March 2026 |
| Annual General Meeting 2026 | 16 April 2026 |
| Release Half-Year Report and Media and analyst conference on the half-year results 2026 |
31 July 2026 |
About COLTENE
CCOLTENE is an international developer, manufacturer, and seller of dental consumables and small equipment in the areas of Infection Control, Dental Improvement, and Treatment Auxiliaries. COLTENE has state-of-the-art production facilities in the USA, Canada, Germany, France, Hungary and Switzerland as well as own sales organizations in all major markets including Europe, North and Latin America, Japan, China, and India. Dentists, DSOs, dental clinics, and dental labs all around the globe trust COLTENE's high-quality products. The registered shares of COLTENE Holding AG (CLTN) are listed on SIX Swiss Exchange. Learn more about COLTENE and our products at www.coltene.com .
| Address |
| COLTENE Holding AG Feldwiesenstrasse 20 CH-9450 Altstätten P +41 71 757 53 00 [email protected] www.coltene.com |
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 conditions. 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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