COLTENE announces key figures for the 2022 financial year
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COLTENE Holding AG / Key word(s): Preliminary Results 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
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,
About COLTENE Contact 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 Altstätten | |
| Switzerland | |
| ISIN: | CH0025343259 |
| Valor: | 2534325 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1539633 |
| End of Announcement | EQS News Service |
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