Envista Holdings Corp 2024年度报告

Directors Executive Officers Mark NanceSVP & General Counsel Paul KeelCEO Stefan NilssonPresident, Nobel Biocare Veronica AcurioPresident, Orthodontics Robert BefidiPresident, Diagnostics Andrew ChenChief Information Officer Filippo ImpieriSVP, Emerging Markets Drew WeightmanPresident, Consumables &Challenger Implants Dear Stakeholders, As CEO of Envista, it’s an honor for me to introduce this year’s Annual Report. Envista is a company with many towering strengths. Across our 130+ year history, we’ve had a hand in several of dental’s finestinnovations including the invention of panoramic x-rays, straight wire and custom orthodontics, and modern dental implants.Our portfolio of 35 leading dental brands is well-balanced by category, geography and go-to-market model which supports unmatchedglobal reach. Envista products can be found in an astonishing 90% of all dental clinics around the world. Our people make all thisprogress possible, united by a vibrant culture of performance and continuous improvement. 2024 was a year of transition for Envista.After a challenging first half, we refreshed our leadership team and introduced a newstrategy centered on accelerating ourgrowth, advancingoperational excellence, and investing in our world-classpeople.We saw meaningful improvement across all three in H2. Highlights include: •Onboarded a new CEO, CFO, and 3 operating company presidents.•Significantly increased our investment in growth, supporting meaningful increases in new product launches, commercialcoverage, and customer events.•Continued to gain market share in SparkTM.•Delivered 4 consecutive quarters of growth for Implant Direct and Alpha-Bio Tec, and returned Nobel Biocare to growth in Q4.•Generated over $300 million of free cash flow, a year-on-year increase of 35%.•Donated over $1.8 million in cash and products to the communities where we live and work through the Envista Smile Project. With respect to acceleratinggrowth, we invested an incremental $25 million in commercial coverage, clinical education, and newproduct development in 2024. These investments enabled deeper customer connectivity both in developed and developing markets.They allowed us to train more than 120,000 clinicians through individual trainings and major events such as the Envista Summit inEurope, Ormco Summit in the US, and a DSO congress in China. And they fueled several important new product launches includingSparkTMon Demand (aligners), DEXISTMTi2 (intraoral sensors), enhanced features for DTX StudioTMClinic (diagnostic software), anda next generation CBCT platform, OP 3DTMEX (3D imaging). Our strong track record ofoperational excellenceis rooted in the Envista Business System (EBS), our enterprise-wide continuousimprovement methodology. EBS is central to how we deliver results, develop our people, and advance our culture. In 2024, we builton our strong foundation by putting in place dedicated EBS leaders in every operating company and global function. Amongst otherthings, this supports world-class safety levels, working capital turns steadily over 5X, and on-time customer service consistentlyabove 95%. Our third priority is our commitment to empowering and developing ourpeople.Our people make all our progress in growth andoperational excellence possible. The sustained success of Envista will hinge on our ability to advance our culture of performance,engagement, and continuous improvement. In July, we announced three important additions to our executive team: Eric Hammesas Chief Financial Officer, Stefan Nilsson as President of Nobel Biocare, and Veronica Acurio as President of Orthodontics. All threebrought to Envista proven track records of building stakeholder value at leading multinational dental companies.In October, weexpanded responsibilities for Drew Weightman, president of our Challenger Implants franchise, to also include Dental Consumables.Energized by the guidance of these and other leaders, Envista was recognized as a top employer, we sponsored multiple EnvistaSmile Project charitable missions, and we responsibly enhanced our community impact as detailed in Envista’s Sustainability Report. This is an exciting time for Envista.We carried strong momentum into 2025 and are well positioned to build upon our leadingposition in the global dental market. Now in our 135thyear, Envista is pointed in the right direction and moving forward at pace. Thank you for your partnership and support. Enjoy the Report, Paul Keel CEO UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 For the fiscal year ended December 31, 2024 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the transition period fromto ENVISTA HOLDINGS CORPORATION (Exact name of registrant as specified in its charter) 83-2206728 (I.R.S. Employer Identification Number)