Further market decline in Japan in Q3 is materially impacting revenue and profit outlook for full year 2012
Adverse media reporting on implant treatments has impacted patient flow in Japan. Today, Nobel Biocare, which has a leading market share in Japan, announced preliminary revenue for the first nine months....
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.