Highlights
Group key figures |
|||
( in CHF million ) | 2020 | 2019 | Change (%) |
Revenue | 1426 | 1596 | -11 |
Gross profit | 1030 | 1200 | -14 |
Core1 |
1038 | 1207 | -14 |
EBITDA | 406 | 481 | -16 |
Core1 |
421 | 505 | -17 |
Operating profit (EBIT) | 157 | 387 | -59 |
Core1 |
333 | 432 | -23 |
Net profit | 92 | 308 | -70 |
Core1 |
261 | 338 | -23 |
Cash generated from operating activities | 377 | 378 | 0 |
Capital expenditure | 82 | 150 | -45 |
Free cash flow | 295 | 230 | 28 |
Basic EPS (in CHF) | 5.75 | 19.33 | -70 |
Core1 |
16.20 | 21.21 | -24 |
Employees (at year end) | 7340 | 7590 | -3 |
Notes to core figures
1 To facilitate a like-for-like comparison of the underlying business performance the Group presents ‘core’ results in addition to the results reported under IFRS. A detailed explanation and reconciliation is provided in the Financial report.
Performance by region
By year-end, organic growth had returned to all regions. Being the least heavily affected, APAC rebounded to high-teen growth in Q4 to complete the year almost in line with 2019. EMEA and North America reported mid-single digit declines, while Latin America had to overcome the biggest challenge and achieved 85% of its prior year organic revenue.
Letter to shareholders

Gilbert Achermann, Chairman of the Board of Directors

Guillaume Daniellot, Chief Executive Officer
Dear Shareholder,
As a company we have learned, innovated, adapted, relinquished, matured and persevered in 2020. Above all, we have understood the value of bringing and keeping people, ideas and things together when traditional approaches are no longer possible. This is why #TogetherStrong aptly describes how we progressed through and emerged from this extraordinary year.
In 2020, building on five years of double-digit growth, we made a promising start until March, when dental practices closed temporarily or were limited to essential treatment. During the crisis months our focus was on safety, business continuity, mitigating financial impacts and helping dentists get back to treating patients. When lockdowns eased, revenue picked up, lifted by pent-up demand. Considering the disruptions and taking the record-level results from 2019 as a comparison, we achieved solid results in 2020. Organic revenue was down 6%, while strong currency headwind widened the gap in Swiss francs to 11% as revenue reached CHF 1.4 billion.
Management commentary
Considering the significant disruptions caused by the pandemic in 2020 and taking the record-level results from 2019 as a comparison, the Straumann Group achieved solid results in 2020. In organic terms revenue dipped 6%. Strong currency head-wind widened the gap to 11% in Swiss francs as revenue reached CHF 1.4 billion. After a promising start, business came to a halt in the second quarter as dental practices closed. As lockdown eased, growth returned in the second half, lifted by pent-up demand but not enough to make up completely for the earlier shortfall. By year-end, organic growth had returned to all regions.
The Management commentary includes the following chapters |
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Straumann Group in brief |
Strategy in action |
Products, solutions & services |
Innovation |
Markets |
Business performance (Group) |
Business performance (Regions) |
Business performance (Financials) |
Share performance |
Risk management |
Sustainability report
Although Straumann’s roots go back much further, 2020 marked the 30th anniversary of our company in its present form and with its current focus on dentistry. What began as a family firm with 25 employees supplying titanium dental implants has become a world leader in tooth replacement and orthodontic solutions, uniting global brands that stand for excellence, innovation and quality in replacement, corrective, regenerative and digital dentistry.
The Straumann Group today provides employment to more than 7300 people from 60 nations. Its products have been used to treat millions of people all over the world, creating smiles, restoring confidence and bringing lasting improvements to the quality of life. These are just a few examples from the company’s long scorecard of sustainable growth and development. For us, corporate responsibility has always meant simply doing more to create value for our customers and their patients, our staff and the communities in which we operate, in a sustainable manner and with minimal impact on the environment. Sustainability means creating lasting smiles and confidence today, tomorrow and beyond.
Corporate governance
The principles, structures, mechanisms and controls by which the Straumann Group is directed and the people who are responsible for their execution.
Compensation report
This report provides a comprehensive overview of the Straumann Group’s compensation principles, practices and delivery framework. It also provides information on the compensation of the general staff, management, Executive Management Board (EMB) and Board of Directors (BoD). It conforms to Swiss law, the Swiss Code of Best Practice for Corporate Governance as well as the SIX Directive on Information relating to Corporate Governance.
Financial report
The consolidated financial statements of the Straumann Group for the year ended 31 December 2020 were authorized for issue in accordance with a resolution of the Board of Directors on 12 February 2021 and are subject to approval by the Annual General Meeting on 9 April 2021.