Company Announcements

 

All figures refer to continuing operations in CHF million / margin changes rounded	FY 2025		FY 2024
	IFRS	CORE1	IFRS	CORE1
Revenue	2 605	2 605	2 504	2 504
Change CHF  Change (CER2)  Change organic		4.1%		10.0%
		8.9%		15.0%
		8.9%		13.7%
Gross profit	1 787	1 826	1 783	1 788
Margin	68.6%	70.1%	71.2%	71.4%
Margin change CHF		(130bps)		(310bps)
Margin change (CER2)		(50bps)		(240bps)
EBITDA	738	797	747	779
Margin	28.3%	30.6%	29.8%	31.1%
Margin change CHF		(50bps)		(190bps)
Margin change (CER2)		70bps		(70bps)
EBIT	549	655	601	650
Margin	21.1%	25.2%	24.0%	26.0%
Margin change CHF		(80bps)		(200bps)
Margin change (CER2)		50bps		(70bps)
Net result	358	478	459	502
Margin	13.7%	18.3%	18.4%	20.0%
Margin change CHF		(170bps)		(110bps)
Basic EPS (in CHF)	2.24	2.99	2.87	3.14
Dividend (in CHF)	1.00		0.95
Free cash flow	290		373
Margin	11.1%		14.9%
Headcount (end of December)	11 821		11 815

¹ The “core” figures in this document exclude M&A effects from purchase-price allocation (PPA) amortization and related changes of contingent
considerations, impairments, restructuring expenses, legal cases, consolidation result of former associates, and other non-recurring incidents. Details and a reconciliation of the reported and core income statement are provided on pages 6 ff
² Constant exchange rate (CER) equals prior-year figures at 2025 currency exchange rates
 

 

Basel, February 18, 2026: For the full year 2025, Straumann Group reported revenue of CHF 2.6 billion, representing 8.9% organic growth, or 4.1% growth in Swiss francs, reflecting strong underlying demand and continued market share gains across its global footprint. In the fourth quarter of 2025, revenue grew 7.0% organically to CHF 655.0 million, confirming the solid underlying momentum of the business.

Regional performance highlighted the strength and resilience of the Group’s diversified offering. Europe, Middle East and Africa (EMEA) delivered very strong and broad-based growth, while North America (NAM) showed very solid performance in a still challenging macroeconomic environment, with continued sequential improvement over the course of the year. Asia Pacific (APAC) excluding China delivered solid growth, while the market in China remained impacted by a softer patient flow and cautious distributor behavior during the second half of the year, due to the upcoming next cycle of the volume-based procurement (VBP 2.0) process. Latin America (LATAM) maintained its strong momentum and continued to contribute double-digit revenue growth.

Growth in 2025 was driven by strong execution across all business areas, including premium and challenger implantology brands, orthodontics and digital solutions.

In implantology, the successful global rollout of the iEXCEL system further strengthened the Group’s innovation and market position. In digital, the launch of the intraoral scanner SIRIOS X3 and the continued expansion of connected workflows within the Straumann AXS cloud-based platform supported broader adoption and reinforced the Group’s strategic positioning. In orthodontics, strategic progress continued with ClearCorrect, supported by new partnerships that enhance innovation, focus and operational efficiency.

These growth drivers were complemented by extensive education activities, with more than 10 700 programs delivered and over 370 000 professionals trained worldwide, supporting adoption, customer success and long-term relationships.

Efficiency gains, disciplined operational expenditure (OPEX) measures and active cost management, combined with the ability to weather tariff impacts and currency headwinds, translated strong revenue growth into a core EBIT margin of 26.5% at constant 2024 exchange rates, at the upper end of the guidance, or 25.2% including currency impact.

 

Guillaume Daniellot, Chief Executive Officer, commented: “2025 was a year of strong performance and execution for all of us. It was a demanding year for our industry and our culture proved to be a clear differentiator. High employee engagement, with a score of 80, combined with a strong entrepreneurial mindset across the organization, enabled our teams to move fast, adapt, and make a meaningful difference for our customers every day. We continued to gain additional market share and delivered robust growth while continuing to advance our strategy with focus and entrepreneurial speed. This ability to execute and to act decisively enables us to capture growth opportunities even in volatile conditions.

At the same time, we are making strong progress in our strategic transformation, moving from a product- to a service-led business.

I would like to thank our customers for their trust and our colleagues worldwide for their outstanding commitment and contribution to this journey.”

 

 

REgional Performance in the fourth quarter

 

EMEA – very strong, broad-based growth in the Group’s largest region

Revenue in EMEA reached CHF 299.9 million in the fourth quarter of 2025, representing 15.3% organic growth. The region delivered a strong and broad-based performance, supported by robust momentum in Germany and Austria, an outstanding contribution from Benelux, continued strong execution in Iberia, as well as strong growth in Eastern Europe and Middle East region. Growth was driven by solid demand across premium and challenger implantology brands, increasing adoption of digital solutions and sustained customer engagement through education and training initiatives. Orthodontics also contributed positively to growth, supported by continued traction of ClearCorrect and strong engagement with general practitioners across the region.

 

NAM – resilient performance with sequential improvement in a challenging environment

Revenue in NAM amounted to CHF 170.3 million in the fourth quarter of 2025, delivering 6.8% organic growth in a still uncertain macroeconomic environment and reflects the continuous improvements in this region. Performance improved sequentially, supported by resilient demand in implantology, solid growth in digital solutions and continued momentum in the dental service organization (DSO) segment. In premium implantology, especially with iEXCEL, Straumann Group gained market share, demonstrating the strength of its value proposition in a competitive environment.

 

APAC – China impacted by VBP phasing, solid underlying momentum ex China

APAC reported revenue of CHF 123.9 million in the fourth quarter of 2025, with organic revenue declining by 12.8%, primarily reflecting a slower patient flow in China due to the delayed volume-based procurement (VBP 2.0) process as well as destocking of the distributors. For the full year, organic revenue growth excluding China amounted to 10.2%, highlighting the solid underlying momentum across the region. Strong momentum was recorded in India, Japan and Southeast Asia, supported by challenger implant brands, digital workflow adoption and sustained education activities. In China, market conditions remained impacted by delayed VBP-related processes and distributor destocking. At the same time, the ongoing ramp-up of the Shanghai manufacturing campus strengthens local production capabilities and supply chain resilience, supporting improved service levels and structural margin potential over time.

 

LATAM – Sustained double-digit growth and capacity expansion

LATAM delivered revenue of CHF 60.8 million in the fourth quarter of 2025, representing 20.0% organic growth. Growth was broad-based, driven by strong momentum in Brazil and continued solid performance across Hispanic markets. Implants remained a key growth driver, mainly through Neodent and growth of premium share, complemented by increasing adoption of digital workflows and continued progress in orthodontics. In parallel, the construction of a third production facility in Curitiba, Brazil, further strengthens local manufacturing capabilities and supports future growth and cost efficiency over the medium term.

 

 

REVENUE BY REGION	Q4 2025	Q4 2024	FY 2025	FY 2024
Figures refer to continuing operations, in CHF million
Europe, Middle East & Africa (EMEA)	299.9	265.0	1 084.2	1 001.0
Change CHF	13.2%	11.4%	8.3%	9.0%
Change (CER1)	15.3%	13.8%	11.2%	14.0%
Change organic	15.3%	12.3%	11.2%	11.3%
% of Group total	45.8	41.1	41.6	40.0
North America	170.3	175.0	687.7	697.0
Change CHF	(2.7%)	3.8%	(1.3%)	1.2%
Change (CER1)	6.8%	3.3%	4.2%	3.6%
Change organic	6.8%	3.3%	4.2%	3.6%
% of Group total	26.0	27.1	26.4	27.8
Asia Pacific	123.9	153.6	599.7	588.4
Change CHF	(19.3%)	18.0%	1.9%	27.7%
Change (CER1)	(12.8%)	19.7%	7.3%	34.4%
Change organic	(12.8%)	18.9%	7.3%	33.3%
% of Group total	18.9	23.8	23.0	23.5
Latin America	60.8	51.6	233.7	217.4
Change CHF	17.9%	(2.0%)	7.5%	4.3%
Change (CER1)	20.0%	17.1%	18.3%	15.6%
Change organic	20.0%	17.1%	18.3%	15.6%
% of Group total	9.3	8.0	9.0	8.7
GROUP	655.0	645.2	2 605.4	2 503.9
Change CHF	1.5%	9.5%	4.1%	10.0%
Change (CER1)	7.0%	12.3%	8.9%	15.0%
Change organic	7.0%	11.5%	8.9%	13.7%

¹ Constant exchange rate (CER) equals prior-year figures at 2025 currency exchange rates

 

 

STRATEGIC PROGRESS

 

Transforming from a product- to a service-led growth model

During 2025, Straumann Group made significant progress in executing its company strategy and presented its 2030 ambition together with the strategic plan at the end of the year. Goal is to further accelerate the transformation from a predominantly product-led organization towards a more service-led business model; leveraging digital technology for both the implantology and orthodontic business. At the core of this transformation is the digital open, cloud-based Straumann AXS platform, which unifies products, software and services, providing a connected digital ecosystem, enabling seamless data exchange and integrated end-to-end workflows across the treatment journey.

By enabling end-to-end clinical pathways across implantology, prosthetics and orthodontics, the Group simplifies workflows for customers and improves efficiency, predictability and strengthens long-term customer relationships.

 

Strengthening leadership in implantology through innovation and multi-brand strategy

Implantology remained the cornerstone of the Group’s performance and strategic positioning in 2025. The continued global rollout of the iEXCEL implant system drove strong momentum, with more than one million implants sold, reinforcing Straumann Group’s leadership in the premium segment.

The Group’s multi-brand strategy, including the geographic expansion of Neodent in the challenger segment, enables Straumann Group to address a broad and still underpenetrated global market. Neodent continues to scale across both established and emerging markets, expanding access to implant treatments and capturing growth opportunities in the challenger segment. Combined with more than 10 700 education activities, more than 370 000 professionals trained and disciplined commercial execution, implantology remains a powerful engine of sustainable growth and continued market share gains. With 42% of education activities in the low- and middle-income countries, the Group is substantially contributing to expand access to care.

 

Scaling orthodontics through partnerships and digital workflows

In orthodontics, Straumann Group delivered solid growth in 2025, while making strong progress in the transformation of ClearCorrect. The Group executed a focused, innovation-driven strategy designed to support scalable and profitable growth.

The partnership with Smartee strengthens manufacturing scalability, operational efficiency and profitability, while maintaining high clinical standards. At the same time, the integration of DentalMonitoring further enhances the orthodontic offering by enabling remote treatment monitoring, improving patient compliance and supporting predictable treatment outcomes.

Together, these elements position ClearCorrect as a digitally enabled and differentiated orthodontic solution, well aligned with the Group’s broader service-led model.

 

Intraoral scanners are the entry point to digital workflows – SIRIOS X3 launch gaining momentum

Digital solutions are a central pillar of Straumann Group’s strategic progress, supported by a broad intraoral scanning (IOS) portfolio covering all price points, combined with connectivity, providing an enhanced customer experience.

The launch of SIRIOS X3 in the fourth quarter of 2025 was met with strong customer demand and rapid adoption, translating into very solid sales momentum in the months following the launch. This further strengthened the Group’s digital intraoral scanner offering which is the entry point into the Straumann digital ecosystem.

Integrated digital workflows across diagnostics, planning, manufacturing and treatment execution are increasingly embedded within the Straumann AXS digital platform. By seamlessly connecting devices, software and services, Straumann Group enables efficient, end-to-end workflows that drive productivity, support predictable clinical outcomes and simplify daily practice operations, reinforcing its ambition in leadership in the digital transformation of oral health.

 

Disrupting digital chairside workflows and prosthetics across the ecosystem

In prosthetics, Straumann Group aims to disrupt the digital chairside workflow by integrating prosthetic solutions into its digital ecosystem.

Developed in partnership with SprintRay, Straumann Signature MIDAS, combined with SIRIOS X3, enables a fully integrated chairside workflow that connects scanning, design and production in one continuous process. Digital solutions such as UN!Q accelerate the design and fabrication of restorations, reducing complexity and improving resource management for dental laboratories. By connecting clinicians and labs through a single digital workflow, Straumann Group enhances efficiency across the ecosystem and unlocks adjacent growth opportunities.

 

 

Financial performance

 

To facilitate a like-for-like comparison, the Group presents core results in addition to the results

reported under IFRS Accounting Standards. In 2025, the following effects (after tax) were defined as non-core items:

• Special items and amortization of acquisition-related intangible assets and changes in the fair value of related contingent considerations, amounting to CHF 48 million
• One-off costs of CHF 40 million resulting from various restructuring measures incurred in all four sales regions, as well as within the production
• Legal costs of CHF 24 million
• An impairment charge of CHF 7 million related to the planned relocation of the Group’s headquarters and the resulting underutilization of the current leased premises.

A reconciliation table and detailed information are provided on page 203 of the Group’s annual report.

 

Gross profit and margin – strong product mix and scale support margins

Core gross profit amounted to CHF 1.83 billion, resulting in a gross margin of 70.1%. The strong margin performance reflects the Group’s broad geographic footprint and diversified portfolio mix, supported by scale effects and a favorable contribution from recently launched products, including iEXCEL and SIRIOS X3. In addition, the ramp-up of the Shanghai manufacturing campus temporarily impacted margin negatively as operations were scaled up. During 2025, the Group also faced tariff-related impacts, which were partially mitigated through targeted operational adjustments, including supply chain optimization and manufacturing flexibility.

 

EBIT and net profit – disciplined execution offsets currency headwinds

Core EBIT reached CHF 655.5 million, corresponding to a strong core EBIT margin of 26.5% at constant 2024 exchange rates or 25.2% as reported including currency impact. Profitability benefited from disciplined execution and a broad range of operating expense measures implemented across the organization. These measures reflect the Group’s entrepreneurial approach to cost management, while continuing to invest in strategic priorities. The difference between IFRS-reported and core EBIT reflects non-core items amounting to around 4.1 percentage points at the EBIT margin level, primarily related to production restructuring initiatives, as well as legal cases and costs associated with the planned relocation of the Group’s headquarters to Arlesheim, Switzerland.

Core net profit amounted to CHF 477.8 million, supported by operating leverage and effective cost control, partially offset by foreign exchange effects and continued investments in innovation and growth.

 

Free cash flow and balance sheet – investing for growth with financial flexibility

Free cash flow amounted to CHF 290.2 million, underpinned by strong operating performance, capital allocation and continued working capital management. Net working capital increased to CHF 426.0 million, mainly reflecting a temporarily higher inventory level as a deliberate measure to mitigate the impact of introduced tariffs. Capital expenditure amounted to CHF 223.5 million, an increase of 33% compared to the previous year, reflecting the Group’s strong growth momentum and high confidence in future demand. Investments were primarily directed towards expanding manufacturing capacity across regions, including the Shanghai campus for APAC and the third production facility for Neodent in Curitiba, as well as further capacity expansions in other key markets. The Group maintained a strong balance sheet and solid liquidity position, providing ample financial flexibility to support organic growth, innovation and strategic initiatives.

 

Dividend – confidence in cash generation and long-term growth

The Board of Directors proposes a dividend of CHF 1.00 per share (2024: CHF 0.95), reflecting confidence in the Group’s cash generation and long-term outlook. The payout ratio remained at around 33%.

 

 

Change in the Board of Directors: Thomas Straumann and Marco Gadola not standing for re-election

 

Following more than 36 years of distinguished service to the Board, including 12 years as its Chair, Thomas Straumann will step down from his Board mandate at the next Annual General Meeting in April to transition into the role of Honorary Chairman. As the founder of the Straumann Group, he has laid the entrepreneurial, cultural, and strategic foundations of the company and shaped its development over more than three decades. The Board sincerely thanks Thomas Straumann; his vision, values, and long-term commitment have been integral to making Straumann Group what it is today. In his new role, Thomas Straumann will remain closely connected to the company and continue to be available to the Board as a highly valued advisor.

To represent the founder family going forward, the board will propose Sébastien Schatzmann, Thomas Straumann’s son-in-law, to be elected as a Board member. He is a successful young entrepreneur who brings not only deep financial and business expertise but also the spirit of the next generation of leadership. His perspective will be valuable as we continue to innovate, grow, and build the Straumann Group for the future.

 

In addition, the Board is very pleased to announce that Wolfgang Becker will stand for election as a new member of the Board of Directors. He dedicated 40 years of distinguished service to the Group in various leadership roles, including as Head of our largest region, EMEA, and as a member of the Executive Management Board until June 2024. As a highly respected leader, he consistently role-modeled the Straumann Group culture and, together with his teams, achieved outstanding performance while cultivating a strong industry network and loyal customer base. His deep knowledge of the organization and its markets position him as a highly qualified candidate for the Board.

Marco Gadola has decided not to stand for re-election at the upcoming Annual General Meeting. He has been closely connected to the Straumann Group for many years, serving as CFO and later as highly achieving CEO and, since 2020, as a valued member of the Board of Directors, including as Vice Chair since 2024. The Board expresses its sincere gratitude for his long-standing commitment, outstanding performance and leadership during important phases of the company’s development. We are pleased that Marco Gadola will continue to support the Group in an advisory capacity to the Board, and we are grateful for his continued contributions.

 

 

Outlook 2026 – barring unforeseen events

 

Looking ahead to 2026, Straumann Group enters the year with strong momentum, supported by its resilient business model, strong market positions and a highly engaged, entrepreneurial culture that enables disciplined execution and decision-making. Operating in a global oral care market exceeding CHF 20 billion, the Group sees significant opportunities for continued growth.

Market conditions are expected to remain volatile, with ongoing macroeconomic and regulatory uncertainties.

The Group remains confident in its outlook and expects to deliver high single-digit organic revenue growth in 2026, alongside a core EBIT margin improvement of 30 to 60 basis points at constant 2025 exchange rates, with the margin progression weighted towards the second half of the year.

***

 

Straumann Holding AG, Peter Merian-Weg 12, 4002 Basel, Switzerland   

  Phone: +41 (0)61 965 11 11

Homepage: www.straumann-group.com

 

Contacts:

Corporate Communication Silvia Dobry: +41 (0)61 965 15 62 Marc Kaiser: +41 (0)61 965 16 80 E-mail: corporate.communication@straumann.com

Investor Relations Marcel Kellerhals: +41 (0)61 965 17 51 Derya Güzel: +41 (0)61 965 18 76 E-mail: investor.relations@straumann.com

 

 

ANALYSTS’ AND MEDIA CONFERENCE CALL

Straumann will present its full-year 2025 results to representatives of the financial community and media in a webcast conference call today at 10.30 a.m. CET. The webcast can be accessed via www.straumann-group.com/webcast. A replay of the webcast will be available after the conference.

 

If you intend to ask a question during the Q&A session, we kindly ask you to pre-register for the conference call through this link. We also recommend that you download the presentation file in advance using the direct link in this media release before joining the conference call.

 

Presentation

The conference presentation slides are attached to this release and available on the Media and Investors pages at www.straumann-group.com.

 

Annual report

Further details of the 2025 performance and financials can be found in the Group’s 2025 Annual Report. The financial statements are an integral part of the Annual Report, which can be viewed online and downloaded at

annualreport.straumann.com

 

UPCOMING CORPORATE / INVESTOR EVENTS

 

2026	Event	Location
February 19–20	Swiss Roadshow – UBS	Zurich and Geneva
March 3	Morgan Stanley Healthcare Conference	London
March 3–5	US Roadshow – William Blair	New York and Boston
March 4	UBS Healthcare Conference	London
March 9–10	Paris Roadshow – BNP Exane	Paris
March 23	CFO Sell-side analyst meeting	London
March 24	BNP Exane Healthcare Conference	London
April 17	Annual General Meeting of Shareholders	Basel
March 31 – April 28	Quiet period
April 29	First quarter 2026 results	Webcast
June 30 – August 18	Quiet period
August 19	Second quarter 2026 results	Webcast

 

Disclaimer

This press release contains forward-looking statements that reflect the current views, beliefs and expectations of management at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, pandemics, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside Straumann's control. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Straumann is providing the information in this release as of this date and does not undertake any obligation to update any statements contained in it as a result of new information, future events, or otherwise. This release constitutes neither an offer to sell nor a solicitation to buy any securities.