ZURICH, Switzerland, Oct. 9, 2008 (GLOBE NEWSWIRE) -- Nobel Biocare (Nasdaq:NOBN) (Stockholm:NOBE) announced today that the deteriorating economic environment has adversely affected its sales towards the end of September. Nobel Biocare therefore reports 2008 revenues of EUR 133 million for the third quarter, representing a decrease of 2.8% at constant exchange rates (CER) for the quarter. For the first nine months of 2008, revenues were at EUR 457 million, a 1% (CER) decrease compared to prior year.
In Europe, Middle East and Africa (EMEA), revenues in the quarter declined by 5.2% (CER), in line with the decline seen in previous quarters. Revenues for the first nine months declined by 5.0% (CER) to EUR 215 million. Customers increasingly displayed a more cautions ordering pattern in markets like Spain, Italy and the UK. Growth was still achieved in Russia.
In North America, revenues declined by 6.5% in the third quarter. For the first nine months of 2008 revenues were at EUR 147 million, representing a 0.9% (CER) decrease versus prior year. A market slowdown was observed during the last two weeks of September. This slowdown continued into the first trading days of October.
In Asia/Pacific, revenue growth accelerated in the third quarter to 13.3% (CER) to EUR 26 million. For the first nine months revenues increased by 12.8% (CER) to EUR 79 million.
The experienced sales growth slowdown, together with a high operating leverage, will affect the company's ability to meet its full year guidance, in particular the EBIT margin. Measures to contain costs were already previously in place.
The company will provide full details of its third quarter results on its regular Q3 reporting date, 3 November 2008.
The Selected income statement figures in EUR million table is available at: http://www.newsbox.ch/public/18922/att/21183_table.jpg
Financial reporting calendar 2008/2009:
Interim Report 3, 2008 03 November 2008 Full Year Report 2008 11 February 2009 Interim Report 1, 2009 29 April 2009 Interim Report 2, 2009 12 August 2009 Interim Report 3, 2009 4 November 2009
Disclaimer
This media release contains forward-looking statements based on beliefs of Nobel Biocare's management. When used in this media release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. They may involve risks and uncertainties, including technological advances in the medical field, product demand and market acceptance, the effect of economic conditions, the impact of competitive products and pricing, foreign currency exchange rates and other risks. These forward-looking statements reflect the views of Nobel Biocare as of the date made with respect to future events and are subject to risks and uncertainties. All of these forward-looking statements are based on estimates and assumptions made by management of the company and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results or experience could differ materially from the forward-looking statements. Nobel Biocare disclaims any intention or obligation to update these forward-looking statements.
The information was disclosed to the media on 10 October 2008 at 6.45 a.m.
Nobel Biocare is a medical devices group and the world leader in innovative esthetic dental solutions with its brands NobelActive(tm), Branemark System(r), NobelReplace(tm), NobelSpeedy(tm), NobelPerfect(r), NobelDirect(r), Replace Select (dental implants), Procera(r) (individualized dental prosthetics), NobelGuide(tm) (complete patient rehabilitation program) and NobelSmile(tm) (patient education and awareness program). Nobel Biocare is a full solution provider for restorative esthetic dentistry, offering a wide range of innovative Crown & Bridge & Implant products, as well as training and education, patient information and clinically documented treatment concepts. Nobel Biocare has over 2,500 employees and recorded revenue of EUR 665.9 million in 2007. The Company is domiciled and headquartered in Zurich, Switzerland. Production takes place at six production sites located in Sweden, the US, Japan and Israel. Nobel Biocare has 37 direct sales organizations. The shares of the parent company Nobel Biocare Holding AG are listed on the SWX Swiss Exchange.