The past year was characterized by a tense global economic situation and strong market fluctuations. In addition, treatment numbers in China declined in the first quarter due to the after-effects of COVID-19. Nevertheless, Geistlich continued to grow in its most important markets. The Regenerative Technologies unit, which focuses on sports medicine, spine surgery, aesthetic and reconstructive surgery, infectiology and new technologies, performed particularly well. The bottom line is a solid single-digit growth.
Expanded regeneration portfolio
The latest acquisitions, the established products Geistlich Bio-Oss® and Geistlich Bio-Gide® as well as the launch of new products, for example for the treatment of periodontitis, proved to be strong growth drivers. They enable Geistlich to tailor its solutions even better to the needs of its customers and complement each other perfectly. As a pioneer in the field of medical regeneration, Geistlich has also expanded its range of training courses. With Geistlich myGuide®, the company offers the world's first complete online learning journey in the field of regenerative dentistry. This offering underlines Geistlich's commitment to continuous development and training in the dental industry.
Long-term competitiveness
Geistlich exports over 90 percent of its products abroad. For this reason, the strong Swiss franc had a particularly negative impact on the company and slowed down growth. The financial year was also characterized by strong market fluctuations. In response to this, strict cost control was necessary. This included the temporary suspension and realignment of the construction project "The Hub" in Wolhusen and the reduction of some jobs in Switzerland.
Investments in strategic areas
Geistlich closes the financial year 2023 with a balanced result and demonstrates solid financial stability despite the challenging environment. The company is looking forward to a promising 2024, while keeping an eye on the global challenges. "This year, we will continue to invest substantially in our research and development as well as in our infrastructure and expand our product portfolio," says Diego Gabathuler, CEO. In this way, the family-owned company aims to contribute to the further improvement of patient care in the field of regeneration worldwide.