FY sales inline despite strong negative FX effect
Remains cautious for the year, North America growth slowed in Q4
Shares down 3, analysts point to impairment, profittaking

Feb 27 Reuters Swiss dental implant maker Straumann on Tuesday forecast steady 2024 sales growth, taking a cautious stance amidst prolonged economic uncertainty.

While geopolitical and macroeconomic uncertainties are going to continue to impact consumer confidence in different geographies, the overall patient flow is expected to keep a positive dynamic, CEO Guillaume Daniellot said in a statement.

The shares were 3 lower in early trading, with analysts pointing to profit taking after a fourmonth rally to twoyear highs.

Jefferies analysts wrote in a note that a 154 million franc goodwill impairment stemming from its 2020 acquisition of DrSmile might weigh on the shares.

The group, which specialises in tooth replacement and orthodontics, expects its organic revenue to grow in a high singledigit percentage this year, with a margin on earnings before interest and taxes around 26 at constant currency rates.

Analysts polled by LSEG were expecting sales to grow by 8.2 and an EBIT margin of 24.9 in 2024.

Straumann reported 9.8 organic growth in 2023 revenue to 2.4 billion Swiss francs 2.7 billion and an operating profit margin of 25.1.

That was in line with analysts39; expectations even as a strong Swiss franc against U.S. dollar hit Straumann which makes most of its earnings outside of…