DENTSPLY SIRONA Inc. reported a net sales decline of 4.3% for the fiscal year ending December 31, 2024, totaling $3.79 billion, compared to $3.97 billion in 2023. The decrease in revenue was attributed to a 3.5% organic sales decline, exacerbated by a 0.8% negative impact from foreign exchange rates. The company experienced a significant net loss of $910 million, a stark contrast to the $132 million loss reported in the previous year, primarily due to increased impairment charges totaling $1.01 billion, compared to $307 million in 2023. The diluted loss per share was $4.48, up from $0.62 in the prior year.
In terms of operational changes, DENTSPLY SIRONA undertook a restructuring plan aimed at improving efficiency and aligning costs with strategic growth objectives. This plan, initiated in July 2024, is expected to result in annual cost savings of $80 million to $100 million and involves a workforce reduction of approximately 2% to 4%. The company also suspended its direct-to-consumer Byte aligner business in October 2024, leading to significant asset impairments and a reduction in sales. The Byte aligners accounted for about 3% of the company's annual revenue prior to the suspension.
The company’s workforce stood at approximately 14,000 employees as of December 31, 2024, with about 4,600 dedicated to sales and technical support. DENTSPLY SIRONA operates through four reportable segments: Connected Technology Solutions, Essential Dental Solutions, Orthodontic and Implant Solutions, and Wellspect Healthcare. The Connected Technology Solutions segment saw a 9.2% decline in net sales, while the Wellspect Healthcare segment reported a 5.9% increase, driven by new product launches.
Looking ahead, DENTSPLY SIRONA anticipates continued challenges due to macroeconomic conditions, including inflation and rising interest rates, which have negatively impacted demand for dental products, particularly in Europe. The company is focused on mitigating these pressures through strategic procurement initiatives and cost-containment measures. The outlook for 2025 remains cautious, with expectations of ongoing inflationary pressures and competitive pricing challenges, particularly in the dental equipment and implant markets.
About DENTSPLY SIRONA Inc.
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