2024 | Full-year results
Matthias Schupp, CEO | Dirk Kirsten, CFO Basel, 18 March 2025
Agenda
1 | Opening remarks and highlights 2024 | Matthias Schupp, CEO |
2 | Financial review | Dirk Kirsten, CFO |
3 | Strategic direction: from head to toe | Matthias Schupp, CEO |
4 | Outlook 2025 | Matthias Schupp, CEO |
5 | Annual Report and upcoming | |
corporate events |
3
Opening remarks and highlightes 2024
Matthias Schupp, CEO
My first impression and actions
During my visits since November, I have met engaged
and highly motivated teams
Customer and distributor meetings since November confirmed that surgeons like our product quality with opportunities to enhance customer experience
New US President search started in August with a focus on commercial skills, mindset and cultural fit
US distributor performance review started in November; 50% of adjustments implemented and remaining distributor changes scheduled for H1 2025
Intensified relationship with Keri Medical founders and organisation to align US go-to-market strategy
5
Full-year 2024 │Key figures
Core revenue growth
+11.7% CER
Total net sales reached CHF 224.8 million
While our sales growth fell
short of initial expectations…
EBITDA Margin in %
19.0% core
…we made important progress in improving profitability through enhanced production efficiency and OPEX leverage.
Value market segment
NeoOrtho
Acquisition of a 51% controlling stake in Brazilian company NeoOrtho marks strategic entry into attractive value segment
Growth story continues
2025
We expect acceleration in 2025 and anticipate that all our regions will return to solid to strong growth
1 Core growth denotes the increase in sales at constant exchange rates (CER), excluding the impact of mergers, acquisitions, and divestments. NSI's contract manufacturing business for third | 6 |
parties is of no strategic significance and is therefore excluded from this calculation. | |
We warmly welcome our new US President
David Thoni
US President
David Thoni appointed as US President and member
of the EMB (effective 6 January 2025)
Leading 140 employees across all functions
Proven Leadership Experience incl. Chief Growth Officer at Independence Dental (13-state GPO dental network); senior roles at ClearChoice, Nobel Biocare,
Straumann Group, GE, and Ondal Medical Systems
Strong track record in business expansion and customer-focused initiatives
Expertise in engaging with healthcare stakeholders including hospitals and surgeons
7
ONE TEAM | CEO | ||||
Matthias Schupp | |||||
My executive team | |||||
Assistant CEO - Board Secretary | |||||
Antonietta Fasolin | |||||
COO | CTO | CFO | CHRO | President US | President EMEA |
Mario Della Casa | Manuel Schaer | Dirk Kirsten | Inge Maes | David Thoni | Mareike Loch |
8 |
EMEA was the key growth contributor
Net sales in million CHF and core growth yoy (CER)
+8.5% CER | |||||||||
Core +11.7% | 5.3 | 224.8 | |||||||
0.4 | -2.2 | ||||||||
7.0 | 219.6 | ||||||||
212.0 | -10.8 | 17.8 | |||||||
-4.6 | |||||||||
196.7 | |||||||||
17.0% | 17.3% | 1.2% | -10.8% | ||||||
Total sales | NSI 3rd party | FX | FX-adj FY | EMEA | US1 | APAC | LATAM | FY 2024 NSI 3rd party | Total sales |
FY 2023 | 2023 core | core sales | FY 2024 | ||||||
sales |
9
1 Core sales excludes the NSI's third party custom manufacturing business, which is scheduled for phase-out.
Outperforming the market, but internal targets remain to be met
FY 2024 revenue | Core growth |
by region in CHF | yoy @CER |
EMEA
US
APAC
LATAM
Core sales
NSI 3rd party business
Total
122.8 | 17.0% |
47.117.3%
31.1 1.2%
18.5 -10.8%
219.6 | 11.7% |
5.3
224.8 | 8.5% |
- EMEA: 17.0% sales growth with double-digit growth across all subsidiaries and particularly strong performance in Spain, Poland and UK.
- US: Core business grew 17.3% while strategically reducing contract manufacturing to focus on Medartis products and acquiring the Avenger Radial Head System.
- Regional challenges:
- Japan transitioned to direct sales under new leadership
- Australia faced impact from last mandated price cuts
- Brazil experienced double-digit decline due to insurance sector consolidation and regulatory delays
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