William Demant A/S announces sales figures up 13% for 2016
Financial report
The Danish holding company, owner of Oticon, Oticon Medical, Bernafon, and Interacoustics, among others, posted sales of 1.6 billion Euros for the year 2016, according to its annual financial report published on 23 February.
This represents an increase of 13% compared to the year 2015. Earnings before interest and taxes (EBIT) reached 286 million Euros, an increase of 12.1% versus 2015. The European continent accounted for 43% of sales and North America for 39%.
The hearing aids segment contributed most strongly to these sales, with 88%. This segment showed organic growth of 6%, partly thanks to the launch of Oticon Opn. In Europe, the acquisition of Audika also contributed to this growth. The diagnostics division contributed 9% to total sales and growth was 3%. Lastly, the implants segment, which contributed 3% to total sales, saw organic growth of 7% during the year 2016, despite a slower than expected launch of the Neuro cochlear implant in certain countries, specifically France.
“2016 was a strong year for William Demant,” says Niels Jacobsen, current Chief Executive Officer who will be replaced by Søren Nielsen in April. “Overall, our activities resulted in a record year for our Group. Leveraging on our R&D, global infrastructure, and distribution network across the Group gives us a truly competitive edge,” he adds. For 2017, the group is expecting operating profit between 269 and 336 million Euros.
Source: William Demant
