COLTENE announces key figures for the 2022 financial year
Ad hoc announcement pursuant to Art. 53 LR
COLTENE, a leading international developer and manufacturer of dental consumables and small equipment, announces its first key figures for the 2022 financial year. Compared to the previously anticipated sales at the level of the 2021 business year (CHF 279.2 million), the company is expected to achieve sales of CHF 267.1 million. For the operating result, COLTENE now expects a margin of around 13%. At the same time, the company informs about a retirement-related change in the Group Executive Board.
The decline in turnover is due to several factors. Inflation and recession fears as well as COVID-related lockdowns in China led to declining demand in dental practices worldwide. In the Infection Control product area, continued backlogs of electronic components and a normalisation of demand for surface disinfection products had a negative impact on sales. Finally, the appreciation of the Swiss franc against the Euro led to lower consolidated net sales.
While the gross margin is expected to be around previous year's level, the lower sales volume affects the operating margin despite tight cost control. Accordingly, the company expects an EBIT margin of around 13% for 2022 (previous year 15.7%).
COLTENE is confident that strategic projects, cost control and the easing of delivery backlogs will have a positive impact on business performance in 2023. Nevertheless, economic and political developments remain volatile. In the stable dental business, however, we can assume that postponed treatments will be quickly made up for when the economic situation brightens. Detailed information on the course of business and the outlook for 2023 will be published with the annual report 2022 on 3 March 2023.
Changes in the Group Executive Management
Stefan Helsing, Chief Operating Officer, will retire at the end of March. Gregor Picard (52 years old, German citizen) has been appointed as successor and will take up his new position on 1 April. He has many years of experience in the dental and automotive industries. Most recently, he worked for the KaVo Group as Vice President Operations. Prior to that, he held various senior operations positions within VDW and Autoliv in Germany.
The entire Board of Directors and CEO Martin Schaufelberger would like to express their sincere thanks to Stefan Helsing for his valuable contribution to the development of the COLTENE Group over the past years. In particular, with the integration of the two acquired companies SciCan and Micro Mega in 2018, he has made a valuable contribution to the now well positioned COLTENE Group.
For further information: Markus Abderhalden, CFO, phone +41 71 757 54 80, mobile +41 79 436 26 22, e-mail firstname.lastname@example.org
?Financial calender Media and analyst conference on 2022 financial year and 3 March 2023 Release of Annual Report 2022 Annual General Meeting 2023 19 April 2023 Release of Half-Year Report 2023 and 4 August 2023 Conference call on the half-year results 2023
About COLTENE COLTENE is an international developer, manufacturer and seller of dental consumables and small equipment in the areas of Infection Control, Dental Preservation and Efficient Treatment. COLTENE has state-of-the-art production facilities in the USA, Canada, Germany, France 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.
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.End of Inside Information Language: English Company: COLTENE Holding AG Feldwiesenstrasse 20 9450 Altst?tten
Switzerland ISIN: CH0025343259 Valor: 2534325 Listed: SIX Swiss Exchange EQS News ID: 1539633 ? End of Announcement EQS News Service