EQS-Adhoc Key figures for 2020 financial year - Sales and EBIT exceed expectations communicated in December
EQS Group-Ad-hoc: COLTENE Holding AG / Key word(s): Sales Result
COLTENE Holding AG, a leading international developer and manufacturer of dental consumables and small equipment, announces its first key figures for the 2020 financial year. COLTENE expects net sales of CHF 248.4 million (previous year: CHF 273.8 million) and an EBIT margin - before one-time effects from the disposal of Vigodent SA - of 12.7% to 12.9% (previous year 11.7%).
The COLTENE Group expects net sales of CHF 248.4 million (pro forma, unaudited figures; previous year: CHF 273.8 million) for the 2020 financial year. Sales declined due to the COVID-19 pandemic, though only by 4.1% in local currency terms. This reflects the rapid recovery of dental markets worldwide and strong growth in Infection Control sales. Sales in the second half of the year (H2) showed robust growth, outperforming H1 2020 by nearly 40% and H2 2019 by more than 4%. Sales consolidated in Swiss franc terms were 9.3% lower for the year under review.
The COLTENE Group has enjoyed a healthy start to 2021 and is benefiting from brisk demand in dental markets. Sales in Infection Control continue performing very well. COLTENE maintains its strategic focus on sustaining the above-average innovation-led growth achieved in this product group. As a result of the pandemic, Infection Control products have become far more important because they make dental practices safer and allow for dependable disinfection and compliance with the required hygiene standards.
The sale of Brazilian subsidiary Vigodent SA, announced on December 17, 2020, was completed as planned before the year under review ended. The transaction resulted in a one-time non-cash charge of approximately CHF 11.5 million.
Thanks to its strategic focus on Infection Control, Dental Preservation and Efficient Treatment, the COLTENE Group is well positioned for the future. In the medium term, Group Management affirms its target of a 15% EBIT margin. Business performance remains exposed to significant risks due to the ongoing COVID-19 pandemic.
COLTENE will release the audited and final results for full-year 2020 on March 5, 2021.
End of ad hoc announcement
|Company:||COLTENE Holding AG|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1163903|
|End of Announcement||EQS Group News Service|
1163903 28-Jan-2021 CET/CEST