Straumann Holding AG

Ladies and gentlemen, welcome to the Strauman Group Q1 2026 Results Conference Call and Lab Webcast. I would like to remind you that all participants will be in listen-only mode and the conference is being recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and 1 on your telephone. For operator assistance, please press star and 0. The conference must not be recorded for publication or podcast. At this time, it's my pleasure to hand over to Guillaume Danielot, CEO. Please go ahead.

Thank you, and good morning or afternoon to all of you. Thank you for attending this conference call on the Schroemann Group's first quarter rebounds. Please take note of the disclaimer in our media release and on slide two. During this conference call, we are going to refer to the presentation slides that were published on our website this morning. As usual, the discussion will include some forward-looking statements. As shown on slide three, I will start with the first quarter performance overview. Isabelle will then cover the financial details, and afterwards, I will share strategic updates and our outlook. We will be happy to answer your questions at the end of the presentation. Let's move directly to slide five. I'm pleased to present you today a strong start to 2026 with a solid performance across regions and business segments. We delivered revenue of 673 million Swiss francs in the first quarter, corresponding to an organic growth of 7.1%. All regions contributing to this successful being of the year, and I am particularly pleased with the very solid momentum in North America with continued growth quarter after quarter. Importantly, this performance is clearly driven by strong executions. We continue to gain market share across key segments, supported by our innovation pipeline, our digital offering, and the strong customer engagement we are creating through education. In implantology, we are further expanding our leadership through innovation, driven by the continued rollout of IFSL and the development of our clinical education and research activities with exciting new initiatives. including the launch of a new specialist network. More on that in a moment. In orthodontics, the transformation is progressing very well. The transition to smart team manufacturing in EMEA and Asia Pacific has been successfully completed, and we are introducing significant enhancements to our value proposition in the coming weeks. Overall, this strong start, combined with continued progress across our strategic priorities, gives us confidence as we look ahead to the rest of the year. And despite the still demanding market environment and ongoing geopolitical incentives, we confirm our outlook for 2026. Let me now move to slide six and walk you through the regional performance in more detail. Overall, we delivered solid growth across all regions, reflecting the strength of our diversified geographic footprint and continued execution across markets. Starting with the MEA, our largest region, we achieved strong organic growth of 7.8%, despite a very high comparable base in the prior year. Performance was broad-based across countries and business franchises, with particularly good contributions from Spain, Austria, and Poland, while other markets also delivered solid growth, underlining the resilience of our businesses. Moving to North America, the region delivered strong growth of 7.7% with continued momentum across all businesses. Importantly, we are seeing a consistent improvement from quarter to quarter, reflecting strong commercial execution, increasing traction of our digital workflows, and continued expansion of strategic customer partnerships. In Asia Pacific, we continue to see two distinct dynamics across the region. On the one hand, outside of China, performance remains strong, with growth above 10%, supported by solid contributions from key markets such as Japan, India, and Southeast Asia. On the other hand, in China, market conditions remain affected by the delayed volume-based procurement process GDP. However, underlining trends on stabilizing GDP with improving patient flow and distributors slowly restocking from low inventory levels. Overall, this resulted in a stabilized regional development of 0.5% against a very strong prior comparison. Finally, Latin America once again delivered outstanding performance with organic growth of 19.5%. Growth was growth-based, with particularly great momentum in Brazil and across Hispanic markets, including Mexico and Argentina, driven by strong demand for challenger infants and increasing adoptions of digital solutions. Overall, this regional performance highlights the resilience of our business model and our ability to consistently outperform the market across different environments. With this, I will now hand over to Isabelle. who will take you through the financial performance in Maldives.

Thank you, Guillaume, and good morning also from my side. It's a pleasure to walk you through our financial highlights for the first quarter of 2026. Let me start on slide 8 with the details of our revenue development. We delivered a strong organic revenue growth of 7.1% in the first quarter. This current response to a reported decline of 1.2% in Swiss francs which represents a negative foreign exchange impact of 53 million Swiss francs. This was mainly driven by the U.S. dollar, which depreciated by more than 10% versus the Swiss franc compared to the prior year period, as well as the euro, which weakened by more than 4%. Assuming currencies remain at current levels, we expect the negative foreign exchange impact to gradually moderate over the course of the year. Looking at the drivers of this organic growth, the main contributions came from EMEA, North America, and Latin America, reflecting solid performance across our key regions. In terms of the regional share of this organic growth, EMEA remains our largest region, contributing around 47% to the gross revenue growth, followed by North America at 28% and Latin America at 23%. while Asia-Pacific remains at a lower level, mainly due to the current dynamics in China. Overall, this clearly demonstrates that despite the impact of currency movements, the underlying business performance remains strong and well diversified. At the same time, we continue to actively mitigate external headwinds for our operational excellence measures, which I will walk you through on slide 9. Over the past quarters, we have made significant investments into our global manufacturing and supply chain footprint, and we are now beginning to see the first tangible benefits. First, for our premium portfolio, our new Shanghai campus is now fully ramped up, supporting cost efficiency while at the same time reducing our exposure to foreign exchange volatility through our local-for-local production approach. At the same time, we have optimized our production footprint in Europe, including adjustments in Villerein, where some volumes have been reallocated as part of our global manufacturing setup. In orthodontics, the transition of production to SMARTI in EMEA and APARC has been successfully completed, and the ClearCorrect production site in Markleberg has been closed. This marks an important step towards a more scalable and cost-efficient operating model, with further benefits expected to materialize over the course of the year. In addition, for our challenger portfolio, we continue to expand our global production footprint. New Dent is further strengthening its manufacturing capabilities with the expansion of its site in Curitiba to be finished this summer, supporting future global growth. Overall, while we are continuing to expand our production capacity, we have introduced measures to improve efficiency and reduce costs. These measures strengthen our ability to mitigate external headwinds, including fragment exchange volatility, and position as well to drive further margin improvement in the coming quarters. As a final comment, I would like to mention that the impact from the current geopolitical environment remains limited, reflecting the resilience of our diversified footprint and global manufacturing setup. With this, I will now hand back to Guillaume for the strategy update.