Today Nobel Biocare (NOBN) announced preliminary revenue for the first nine months of EUR 427.5 million, up 3.1% in euro and down 2.4% at constant exchange rates (CER). Revenue for the third quarter was EUR 131.0 million, up 2.2% in euro and down 5.1% at CER.
Revenue development in the third quarter continued to be in line with the market. Excluding Japan, revenue was flat (-0.1% at CER) for the quarter and modestly down 0.6% at CER year-to-date.
As communicated earlier, adverse media reporting on implant treatments has impacted patient flow in Japan. This has led to a further deterioration of the market in the course of the third quarter. Nobel Biocare has a leading market share in Japan, which represents about 13% of its revenue and contributes disproportionately high profit. The development is difficult to predict at this point in time but the company does not anticipate any improvement in the coming months.
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