Strong start to 2017 for Amplifon

Result

Amplifon headquarter
Enrico Vita, CEO Amplifon © Business People

In late April, the Board of Directors of Amplifon approved first quarter results showing a significant increase in revenues and profitability, along with further expansion of the company’s distribution network.

In a press release, the company reported an increase in revenues of 16.3% at current exchange rates, driven by strong organic growth across all the geographic areas where the company operates. Consolidated revenues reached 296 million Euros. A strong improvement in all profitability indicators was also reported: EBITDA increased by over 20% and net profit rose markedly by over 49% compared to the first quarter of 2016, at 12.8 million Euros.

“We have begun the year with excellent results, further accelerating our already strong growth trend, which remains at a much more robust pace than the market, as well as consolidating our leadership and gaining market share in all the countries where we operate. For the thirteenth quarter in a row we posted solid, constant organic growth well balanced among all the geographic areas” said Enrico Vita, Chief Executive Officer at Amplifon.

Vita was optimistic about the prospects for 2017 and indicated in the press release that the company has continued its substantial investments in marketing, continuous network expansion, and in its service model to sustain long-term revenue growth. He also said that the company is confident it will fully achieve its medium to long-term objectives. Amplifon’s network expansion program has continued this year, both organically and through acquisitions, with the addition of 173 stores and 30 shop-in-shops.

Source: Amplifon

C.S.