For the full year, the Straumann Group achieved an organic revenue growth of 8.9%, reaching revenues of CHF 2.6 billion, and delivered a core EBIT margin of 26.5% margin at constant 2024 currencies, or 25.2% including currency impact. Beyond financial results, we helped to create more than 7.3 million smiles, 600 000 more than last year, reflecting the growing impact of our solutions worldwide.

What truly defined 2025 was our people. The team’s spirit and agility made up for the significant impacts on the business from currency headwinds which lowered revenue by more than 100 million Swiss francs and led to a 4.1% growth in Swiss francs. At the same time, we were able to maintain high profitability of 25.2%, compensating for 130 basis points of currency headwinds and tariff impacts.

This success is thanks to the dedication of our teams, the strengths of our portfolio, and the trust placed in us by our customers around the world.

In 2025, growth remained broad-based, though regional dynamics differed. We saw continued momentum in the Europe, Middle East and Africa region, supported by a strong demand for our premium and challenger implant brands, a growing digital adoption, and our ongoing investment in education.

Against this backdrop, the North American team operated in a softer, more volatile market, with cautious patient spending. Yet, thanks to disciplined execution, and the new leadership, the region steadily improved over the year ending strongly. Asia Pacific delivered solid growth outside of China, with encouraging results in India, Thailand, Australia, and Japan. In China, demand softened toward year-end in anticipation of the next round of the volume-based procurement (VBP) 2.0, a government-led program where public hospitals purchase medical products through centralized tenders at pre-negotiated prices in exchange for guaranteed volumes.

Latin America maintained its strong momentum, delivering robust growth despite a tough comparison base.

A highlight was the performance of our dental service organization (DSO) team. We welcomed new customers into the Straumann Group and further strengthened the long-standing strategic relationships that underpin our success.

2025 was a year of strong innovation across many businesses, also shaped by years of customer feedback. At the International Dental Show (IDS) in Cologne, Germany, we presented a range of innovations improving workflows for clinicians and outcomes for patients.

Notable launches included SIRIOS X3 in the fourth quarter, a next-generation, wireless intraoral scanner. SIRIOS X3 expands our intraoral scanner portfolio into the mid-price segment and lowers the entry barrier for clinicians to adopt digital workflows in their practices. It enables faster and more comfortable impressions and integrates seamlessly with the Straumann AXS platform for immediate processing.

Another highlight was the continued global rollout of iEXCEL. With more than one million implants sold, it streamlines four implant lines into one flexible system featuring our proven Roxolid and SLActive surface for enhanced osseointegration.

With the launch of Straumann AXS, we made further progress in our transformation from a predominantly product-led company toward a more service-led business model. Straumann AXS supports clinicians and laboratories across the full patient journey, reducing complexity, saving time, and enabling consistent clinical outcomes. For example, clinicians can scan with our intraoral scanners, plan cases with AI-driven software, and order prosthetics or guides through one platform. By the end of 2025, thousands of customers were actively using AXS, benefitting from a more efficient and user-friendly digital set-up.

We also launched our first chairside 3D printing solution, Straumann Signature MIDAS which we co-developed with SprintRay. MIDAS enables dental professionals to fabricate crowns, inlays, onlays, and other restorations in the dental office during a patient visit. The high-speed 3D printer is fully integrated into the Straumann AXS workflow and connects with our SIRIOS scanner. MIDAS marks an important step in Straumann Group’s entry into chairside prosthetics, bringing speed, simplicity, and precision to in-practice restoration workflows. The launch was met with strong interest from customers and industry experts alike.

In 2025, we took a decisive step to reposition our orthodontics business for sustainable growth and stronger profitability.

We sharpened our go-to-market focus and prioritized resources on high-growth geographies and customer segments, with a focus on general practitioners and dental service organizations. In parallel, we leveraged partnerships to enable a more agile and efficient manufacturing set-up and innovate the patient experience. We enter 2026 with ClearCorrect in a much stronger position. While disciplined execution remains essential, we are encouraged by the progress made and confident in the strategic direction we have set.

Throughout 2025, we continued to invest in strategic initiatives to secure our future growth. A key priority was to expand and optimize our global manufacturing footprint, now spanning 18 sites, to meet rising demand and improve our operational agility. This includes a strong production presence in the United States, providing resilience amid tariff dynamics.

We reinforced our commitment to Switzerland as a hub for innovation and excellence. In 2025, we announced further investments in our Villeret manufacturing site, committing CHF 60 to 80 million over the next five years to enhance Villeret as a center of excellence for precision manufacturing. This investment will focus on high value-added products such as our new iEXCEL implant line and advanced automation, ensuring that Switzerland remains at the forefront of our global production network.

At the same time, we reached a milestone in China with the opening of our new Shanghai manufacturing campus. Establishing manufacturing in China enhances our resilience in the face of regulatory changes, like VBP and tariff barriers, and positions us to capture growth in the world’s largest dental market. In fact, as China’s next VBP implant tender approaches in 2026, we can offer competitive, locally made solutions and ensure supply continuity for our customers in China.

In July 2025, we reached another strategic milestone by increasing our stake in maxon dental GmbH from 49% to full ownership. Located in Germany, maxon dental pioneered the world’s first two-piece ceramic implant system using proprietary ceramic injection molding (CIM) technology. By fully integrating the newly named Straumann Ceramics into the Straumann family, we secure a distinctive innovation platform in the growing field of ceramic dental implants, an area of increasing interest among clinicians and patients.

It is essential to innovate and combine this with the necessary education activities to ensure our solutions reach our customers and ultimately patients. Investing in education continues to be part of our core business, as knowledge and skills are essential for our success and customer satisfaction.

In 2025, we delivered over 10 700 educational activities and trained more than 370 000 doctors around the world, supporting their growth in implantology, orthodontics, and digital dentistry.

With more than 25 000 members, our partner, the International Team for Implantology (ITI) continues to lead the way in evidence-based learning and clinical excellence globally, while ILAPEO remains a strong regional anchor in Latin America and now also Asia Pacific, blending education, research, and hands-on training.

By building on these trusted partners and expanding our reach, we help clinicians grow, strengthen long-term relationships, and support the adoption of innovation, making education a lasting driver of quality care and sustainable growth.

Our continued success is fundamentally built on our people and our culture. Our high-performance player-learner culture has been instrumental in driving our achievements and in attracting new talent.

Even as we navigated changes through geopolitical challenges, business transformation and adjustments in manufacturing, our teams showed resilience, empathy, and strong support for one another. An engagement score of 80 reflects the strength of our culture and the dedication of our people. In 2025, we doubled down on talent development, offering expanded training and leadership programs to help our employees grow both personally and professionally. We remain committed to investing in talent and leadership, knowing that our people are the key to our success.

As announced with our 2025 full-year results, Thomas Straumann, the founder of the company, has decided to step down from his active role on the Board and will transition to the role of Honorary Chairman, as appointed by the Board. While he is stepping back from formal responsibilities, Thomas will remain closely connected to the Straumann Group, continuing his involvement as an honorary fellow in the ITI and serving as a trusted advisor to the Board. As the founder of the Straumann Group today, his entrepreneurship, vision, values, and long-term commitment have shaped the company over more than 36 years into what it is today, and we are deeply grateful for his continued support.

To represent the founder family going forward, we will propose Sébastien Schatzmann, Thomas Straumann’s son-in-law, to be elected as a Board member. Sébastien 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.

We are also pleased that Wolfgang Becker, who served the Group for more than 40 years with an exceptional track record across multiple roles, including as member of the Executive Management Board and Head of our largest region EMEA, will stand for election to the Board of Directors. Marco Gadola has decided not to stand for re-election in 2026 as a board member. We are grateful that he will continue to support the Straumann Group as an advisor to the Chair. We sincerely thank him for his long-standing dedication to the company as a highly regarded CEO and valued member of the Board of Directors and trusted Vice Chair since 2024.

We also strengthened our leadership team this year to support the Group’s next stage of growth. In July, we welcomed Isabelle Wege as our new Chief Financial Officer. At the regional level, Alexei Costa joined us as Head of Latin America, and during the first half of the year we appointed Grant Bester as Executive Vice President and Commercial Head for North America. All three are exceptional, passionate leaders and together, these transitions, along with other key hires, ensure we have the right talent in place to execute our strategy and sustain our performance-driven culture.

In 2025, we continued to progress on our environmental ambitions, including maintaining close to 100% renewable electricity across all our sites globally. In parallel, we strengthened education and access-to-care, with 42% of activities in low- and middle-income countries, while reinforcing responsible business practices across our value chain, linking growth with positive social impact.

Our Smile Movement, an internal employee-led initiative, raised funds for the Straumann Group Foundation to expand access to oral care for those in need and create lasting impact.

Five years after launching our 2030 ambition, we are proud of the progress achieved. Our revenue growth is now more balanced geographically, our portfolio more diversified, and our leadership in digital workflows and intraoral scanning firmly established.

In 2025, we entered the next phase of our strategy with Go Beyond. Our focus is to build on our leadership in implantology, expand our addressable markets, and grow our position across all core areas of the Group. We are accelerating the adoption of digital workflows with our customers and advancing chairside digital prosthetics in close collaboration with partners and laboratories.

At the same time, we are reshaping our orthodontics business to establish a stronger platform for sustainable growth and improved profitability. Across the Group, we continue to deploy technology to drive operational excellence, ensuring that growth is disciplined and consistently translates into healthy cash flow.

Today, the Group operates in an estimated global market of around CHF 20 billion. With our strong market position, resilient business model, and solid balance sheet, we are well equipped to navigate uncertainty and seize new opportunities. Our high-performance, player-learner culture remains a core strength, and we are confident in our ability to deliver on our ambition of around 10% average annual revenue growth over the mid-term. This growth strategy will be underpinned by continued investment and a clear focus on operational excellence. We are targeting an average annual increase in our core EBIT margin of 40 to 50 basis points at constant exchange rates until 2030. We will continue to provide annual guidance and are committed to steadily increasing our gross dividend based on performance.

In 2025, we were pleased to see our shareholder base grow, a sign of continued trust in our long-term strategy and direction. We demonstrated that our strategy continues to deliver tangible performance, even in the face of a demanding external environment, reinforcing our resilience and confidence in the future.

We would like to thank all our teams, who are committed to patient care and have contributed to the success of Straumann Group through their untiring efforts despite the ongoing challenges caused by the macroeconomic environment.

Our sincere thanks also go to our customers and partners for their trust and for continuously inspiring us to raise the bar and to you, our shareholders, for your ongoing support and confidence in our company.

Yours sincerely,