April 30, 2020 / 5:30 AM / a month ago

Dental supplier Straumann withdraws 2020 outlook due to coronavirus crisis

FILE PHOTO: The logo of dental implant manufacturer Straumann Group is seen at its headquarters in Basel, Switzerland March 2, 2020. REUTERS/Arnd Wiegmann

(Reuters) - Swiss dental implant maker Straumann (STMN.S) on Thursday withdrew its full-year guidance, citing constrained implant and esthetic dentistry due to the coronavirus pandemic.

The Basel-based manufacturer previously expected its organic revenue growth in 2020 to be in the low double-digit percentage range, but it said the forecast excluded any effects from currency swings and the coronavirus.

The group’s first-quarter revenue fell 1% in organic terms, or 4% in Swiss francs to 357 million Swiss francs ($366 million), as the positive start to the first quarter was offset by a lockdown in most markets from mid-March.

Reporting by Bartosz Dabrowski in Gdansk; Editing by Himani Sarkar

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