Widex A/S announces its results for the financial year 2017/18

Manufacturers

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Widex delivered net turnover of DKK 4,466 million (EUR 598 million), an increase of 8.1% compared to the previous financial year. Normalized EBITA rose 14.1% to DKK 901 million (EUR 120 million), corresponding to 20.2% of net turnover.

The company posted record-high turnover for the fourth year in a row. This was due to a continued reduction in production costs and stable average sales prices. In addition to the good figures, the company also reported that it has successfully completed its IMPACT strategy, and has started its new Widex Wave strategy.

“The financial year 2017/18 saw the successful completion of our IMPACT strategy plan and the launch the next five-year strategy, Widex Wave. IMPACT more than met our expectations and we ended the five-year period significantly ahead of the financial goals,” said Widex CEO Jørgen Jensen in a company press release. “We launched Widex Wave to the organization in April with two very high ambitions: we want to double our size in five years, and we want to ensure that we become a leading, innovative company with absolutely second-to-none new product launch procedures,” he added.

In terms of products, the launch of the BEYOND Z rechargeable hearing aid and redesigned CUSTOM helped Widex to maintain a strong presence in the market, according to the company. Importantly, the proposed merger with Sivantos was announced after the end of the financial year and has no material impact on the company’s results.

Source: Widex

C.S.