Swiss dental equipment company, Straumann Holding, has announced a lower net profit for the first half of the year. Despite a rise in revenue, higher costs offset the increase.
Straumann Holding announced on Tuesday that its net profit for the first half of the year was CHF205.8 million ($234.3 million), compared to CHF265.4 million in the same period last year. Although revenue for the first half increased from CHF1.18 billion to CHF1.22 billion, higher costs impacted the company's bottom line.
In the second quarter alone, Straumann Holding saw a 5.4% increase in revenue to CHF621.3 million, and this growth reached 12% on an organic basis.
However, core earnings before interest and taxes for the first half declined to CHF316.7 million from CHF329.1 million. The margin also decreased from 27.9% to 26.0%.
Despite these challenges, Straumann Holding remains optimistic about the future. The company projects organic revenue growth in the high single-digit percentage range and expects profitability to hover around 25% for the full year, considering the inclusion of growth investments.
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