Straumann remains optimistic about its potential for continued growth in the dental implant market, despite a slowdown in patient volumes and a resulting 16% drop in profits for the first half of 2009.
For the period (end-June 30), the company reported net profit of 84.6 million Swiss francs ($78.3 million), down from 100.5 million francs ($93 million) a year ago.
Sales fell 6.9% to 384 million francs ($355 million).
"Despite continuing pressure from the global economic crisis, the Straumann Group succeeded in achieving its expectations for first-half sales and exceeded its forecasts for earnings, thanks to significant efficiency improvements," the company stated in a press release.
First-half sales were driven mainly by new-generation products and technologies, most notably the bone level implant range and the prosthetics business, Straumann noted. Conversely, the number of patients postponing treatment has risen and patient traffic in dental practices has slowed, leading to lower volumes sold. While CAD/CAM crown-and-bridge element sales continued to expand, dental laboratories remain hesitant with regard to investing in scanning equipment.
"We have made good progress in a very challenging environment and are on track to meet our guidance for the full year," said President and CEO Gilbert Achermann in the release. "Although there is little sign of a sustained market recovery yet, we have continued to win new customers across all regions and have outpaced our main competitors. On this basis we believe that we have further increased our market share."
Achermann is slated to take over as chairman of Straumann next year, replacing Rudolf Maag, and Chief Financial Officer Beat Spalinger will replace Achermann as CEO.
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