Zurich (hooly-news.com) – Growth will slow significantly for Straumann this year. CFO Peter Hackel expects sales to “probably” go down, he said in an interview with The Market news site on Monday. The long-term prospects remain intact.
The equipment supplier for the dental industry recorded “very weak” sales during the weeks of confinement, with differences according to the countries, explained the leader. A catch-up effect is felt in areas where the restrictive measures have been relaxed. It is still too early to speak of standardization. A recession is imminent, says Hackel.
According to the manager, the current situation is in no way comparable to that, more serious, experienced during the financial crisis. “In 2009, we mainly offered top quality parallel wall implants.” Currently, implants are sold in different forms and in different price categories. The product portfolio is much more diversified.
“At the time of the financial crisis, emerging markets and other growth markets represented only 50% of sales, compared to 75% today,” notes Peter Hackel. Potential sales increased to 14 billion Swiss francs, compared to one billion in 2009.
The decision announced in mid-May to cut 660 positions, or 9% of the staff, was very difficult to make, says the chief financial officer, for whom this package will be enough to offset the effects of the current crisis. Hackel also recalls that Straumann has doubled its workforce in three years.
Long-term prospects have not changed for Straumann despite the Covid-19 pandemic. In a “normalized” context, the market should grow again by 4 to 5% per year, according to the director.
year / ra / fr / md