Straumann Group (STMN) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached CHF 673 million, representing 7.1% organic growth year-over-year, with all regions and segments contributing positively despite a 1.2% decline in CHF due to FX headwinds.

• Strongest regional growth in Latin America (19.5%), followed by EMEA (7.8%), North America (7.7%), and APAC (0.5%, over 10% excluding China), with stabilization in Asia Pacific amid China headwinds.

• Market share increased to 14% in a CHF 20 billion market, with leadership in implantology, orthodontics, and digital equipment, supported by innovation and digital transformation.

• Strategic focus on operational excellence, commercial execution, and team engagement is driving resilience and market share gains.

Financial highlights

• Organic revenue growth of 7.1% was offset by a reported decline of 1.2% in CHF due to a CHF 53 million negative FX impact, mainly from USD and EUR depreciation.

• EMEA contributed 47% to group revenue growth, North America 28%, and Latin America 23%.

• Dividend increased to CHF 1.00 per share, a 5% rise, with a payout ratio of around 33%, supported by strong cash generation.

• Investments in manufacturing and supply chain, including the Shanghai campus ramp-up, are yielding cost efficiencies and reducing FX exposure.

• Margin guidance for 2026: core EBIT margin improvement of 30–60 basis points at constant 2025 FX rates.

Outlook and guidance

• High single-digit organic revenue growth and core EBIT margin improvement of 30–60 basis points at constant exchange rates are expected for 2026.

• Market conditions remain volatile due to macroeconomic, geopolitical, and regulatory uncertainties, but confidence in guidance is supported by a resilient business model and diversified footprint.

• FX headwind expected to moderate over the year; full-year FX impact on margin estimated at 100–120 basis points at March spot rates.