By Cian Muenster and Bartosz Dabrowski
(Reuters) -Swiss dental implant maker Straumann on Wednesday reported first half earnings below market expectations, impacted by negative foreign exchange movements and a weaker performance in North America.
The group, which specialises in tooth replacement and orthodontic solutions, reported core earnings before interest and taxes (EBIT) of 358 million francs in the first half, below consensus estimates of 365 million francs.
“The Swiss franc keeps strengthening versus all the key currencies in which we are doing business,” CEO Guillaume Daniellot told Reuters in an interview.
The currency, seen as a safe haven amid economic turmoil, has appreciated around 12% against the U.S. dollar year-to-date.
North America sales totalled 170.7 million francs in the first half of the year, down 0.9%, and slightly below estimates at 172.4 million. The North American market, Straumann’s second biggest, generates around 28% of its sales.
Straumann has shown resilience to changing U.S. tariff policies as 80% of the products it sells in the United States are manufactured domestically. However, the company’s key challenger implants are produced in Brazil and in Europe.
The group’s total sales grew to 1.35 billion Swiss francs ($1.67 billion)in the period, broadly in line with analysts’ expectations of 1.36 billion francs in a Vara consensus.
Straumann confirmed its 2025 sales forecast, saying it aims to achieve organic revenue growth in the high single-digit percentage range.
Shares in Straumann were down 4.2% as of 0758 GMT.​
($1 = 0.8063 Swiss francs)
(Reporting by Cian Muenster and Bartosz Dabrowski in Gdansk; Editing by Matt Scuffham)
