EQS-Adhoc
2020 Financial Year: Solid Performance Despite Decline in Sales
EQS Group-Ad-hoc: COLTENE Holding AG / Key word(s): Annual Results |
- Due to global COVID-19 pandemic, net sales declined to CHF 248.4 million (2019: CHF 273.8 million), a 4.1% drop in local currency terms
- EBIT before one-time charge from Vigodent disposal was CHF 32.1 million (2019: CHF 32.0 million); EBIT margin was 12.9% (2019: 11.7%)
- Reported EBIT was CHF 23.3 million, EBIT margin 9.4%
- Distribution of CHF 3.00 per share (2019: CHF 1.50) from capital contribution reserves
For full-year 2020, the COLTENE Group reports net sales of CHF 248.4 million (previous year: CHF 273.8 million). In local currency terms, sales were down 4.1% and in Swiss franc terms, by 9.3%. The significant 35.5% increase in Infection Control sales was unable to fully compensate for the revenue lost in Dental Preservation and Efficient Treatment. While COLTENE Group sales accelerated in Switzerland and North America, the temporary closing of dental practices slowed down demand in many other markets. Operating profit (EBIT) before a one-time non-cash charge from the disposal of the Brazilian subsidiary was CHF 32.1 million (2019: CHF 32.0 million). Net profit before the one-time charge was CHF 19.9 million (2019: CHF 20.0 million). EBIT reported for 2020 was CHF 23.3 million, with net profit at CHF 8.2 million. At 48.1%, the equity ratio remained on a par with the previous year (48.0%) while net debt fell by 40.6% from CHF 36.8 million to CHF 21.9 million. Free cash flow more than doubled from CHF 10.7 million a year earlier to CHF 24.3 million (+127%).