Straumann CEO sees no deterioration in profitability for 2016
ZURICH Oct 29 (Reuters) - Straumann Chief Executive Marco Gadola sees no deterioration in the company's profitability in 2016 as the tooth implant maker continues to grow in its main European market and expands in new ones including Russia and China.
"I can already tell you, we do not anticipate a worsening EBIT margin trend in 2016," Gadola told Reuters in an interview on Thursday. "There are no indications this will be the case."
Straumann reported sales in the third quarter grew 13.8 percent to 186.9 million Swiss francs ($188.4 million). In constant currencies, they grew more than 20 percent.
Gadola reiterated his forecast for 2015 organic revenue to grow at a mid- to high-single-digit rate with an operating profit margin approaching 25 percent.
Although Straumann has seen "the typical Latin American roller coaster" hurting business, Gadola said, he expected an improvement in the region in the fourth quarter versus the third as sales in Brazil improve. ($1 = 0.9921 Swiss francs) (Reporting by John Miller; Editing by Michael Shields)
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