Sonova announces strong growth across all businesses

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Results

Sonova has announced its results for the first half of fiscal year 2017/18. Consolidated sales increased by 16.9% in local currencies or 17.1% in reported Swiss francs to CHF 1,253 million.

Strong growth was achieved across all businesses, driven by the ongoing success of the Group’s innovative products and further supported by the acquisition of AudioNova. Normalized for one-time costs Group EBITA reached CHF 240.5 million, representing an increase of 16.9% in local currencies and 16.8% in Swiss francs. Maintaining the outlook provided at the start of fiscal year 2017/18, the company expects Group sales to grow by 10%-12% in local currencies. Before one-time costs related to AudioNova in both the 2016/17 and 2017/18 financial years, Sonova expects a corresponding increase in the EBITA of 10%-14% in local currencies.

Highlights 1H 2017/18

  • Group sales of CHF 1,253 million – up 16.9% in local currencies and 17.1% in Swiss francs
  • Normalized EBITA of CHF 240.5 million – up 16.9% in local currencies and 16.8% in Swiss francs
  • Hearing instruments segment – sales of CHF 1,151.7 million, up 17.6% in local currencies
  • Cochlear implants segment – sales of CHF 101.3 million, up 9.7% in local currencies
  • Operating free cash flow reached CHF 153.0 million – resulting in a healthy balance sheet
  • Outlook for FY 2017/18 maintained – consolidated sales anticipated to grow by 10% to 12% and normalized EBITA to rise by 10% to 14%, both measured in local currencies

Lukas Braunschweiler, CEO of Sonova, says: “We had a good start to the fiscal year. The strong results achieved in the first half reflect the ongoing success of our integrated business model, our industry-leading technology platform approach and the strong global presence of all of our three businesses. A highlight in the period was the introduction of the SWORD™ wireless chip enabling universal direct connectivity, which will power future generations of hearing aids with ever more sophisticated features.”

GArnd Kaldowski, COO and designated CEO of Sonova, adds: “During my first weeks at Sonova, I have been impressed by the enormous potential of the Group, its innovative product portfolio and strong market positions. I am fully committed to exploit the strong opportunities of Sonova and its franchise to its full extent.”

Source: Sonova