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Investing.com -- Swiss dental-equipment manufacturer, Straumann Holding, announced a rise in its net profit for 2024. This increase was driven by higher revenue which managed to offset the impact of currency headwinds.
On Wednesday, the company disclosed that its full-year net profit rose to 338.3 million Swiss francs ($374.5 million), up from 246.1 million francs the previous year.
The firm’s core operating profit also saw a slight increase, climbing to 650.3 million francs from 636.7 million francs. This occurred despite a contraction in its margin, which fell to 26.0% from 28.0%.
Straumann’s revenue rose by 11% at constant currencies to 2.50 billion francs. The company’s fourth-quarter revenue also saw an 11% increase at constant currency, reaching 645.2 million francs. This growth in revenue was primarily driven by higher sales in the Europe, Africa and Middle East Region, which managed to offset a decrease in consumer demand in North America.
However, the North American market did stabilize in the last quarter.
In terms of shareholder returns, Straumann stated its intention to propose a dividend increase to 0.95 francs, up from 0.85 francs the previous year.
Looking ahead to 2025, Straumann expressed confidence in its ability to gain market share. The company is targeting organic revenue growth in the high single-digit percentage range, along with a 30 to 60 basis-points improvement in its core earnings before interest and taxes margin at constant 2024 currency rates.
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