Record turnover for Widex

Financials

Widex results

Widex A/S has announced its results for the financial year 2016/17 that show a Net Turnover of DKK 4,346 million, an increase of 12.7% compared to the previous year. EBITA rose DKK 108 million to DKK 790 million, corresponding to 18.2% of net turnover.

The privately-owned company delivered a record turnover for 2016/2017 of DKK 4,346 million and it’s normalised EBITA was DKK 790 million or 18.2% of net turnover – up 15.7% compared to the previous Year. Profits after tax totalled DKK 372 million – up 31.1% compared to previous year. The successful launch of BEYOND™ hearing aids in all major markets, maintenance of average sales prices and the IMPACT strategy plan were instrumental in achieving this.

“This is the second year in a row that we have seen double digit growth rates and a record-high turnover,” said Widex CEO Jørgen Jensen. “The effect of our IMPACT strategy plan is clear. Through a combination of increasing customer focus, streamlining of production and ensuring a continuous flow of high quality products for our customers, we have managed to increase growth and deliver higher profitability. We have proven the stability of our business model and are now ready for further growth.

“Innovation is a key part of our agenda and the number of new products we will bring to the market will continue to increase,” said Jørgen Jensen. “As a privately-owned company, we can invest a higher proportion of our profits in new product development - in 2016/17 that amounted to almost 10% of net turnover. We have also strengthened our Research and Development department to maintain our position as a pioneer within the hearing aid industry.

“The IMPACT strategy plan has brought us a long way in three years and will continue to run until the end of the financial year,” added Jørgen Jensen. “We will continue to grow and strengthen the company on the success of the last three years, while in parallel setting the direction for the next five years.”

Source: Widex

V.A.