William Demant Holding A/S releases an interim financial statement

Oticon at AudiologyNOW! 2017
Oticon's booth, a William Demant brand, at AudiologyNOW! 2017 © V.A.

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William Demant recently released a statement covering the year-to-date period showing strong organic growth for the group.

The statement looks at overall market trends, hearing devices, hearing implants, diagnostic instruments, and other business areas, while providing an update on the outlook for 2017.

“We’ve seen a very encouraging start to 2017, and I’m happy to see that all our business activities are in good shape and continue to launch new, innovative products. I’m very pleased to see the progress we’ve made, as it’s our top priority to secure future growth through innovation and customer focus and to deliver on our hearing healthcare ambition,” said Søren Nielsen, President and CEO of William Demant, in a press release.

The company reported market share gain in wholesale of hearing aids driven by Oticon Opn, with strong organic revenue growth in local currencies. The group’s hearing aid wholesale business was the main contributor to overall organic growth and delivered a growth rate significantly above that of the market. William Demant’s retail business also continued to deliver satisfactory organic growth in addition to growth from acquisitions. Europe was the main organic growth driver, according to the company.

The group maintains its objective for 2017: to generate growth in sales in all three business activities, and to achieve an EBIT in the range of DKK 2.2-2.5 billion before restructuring costs of around DKK 200 million.

Source: Nasdaq GlobeNewswire

C.S.