Amplifon boasts "ideal positioning" on release of solid Q3 2022 results
- Published on 27 October 2022
Amplifon, the world's biggest hearing aid retailer, has posted strong third quarter figures, supporting the Milan-based group's forecast of end-of-year revenues in the region of 2,150 million euros, and an EBITDA recurring margin in the region of 25%.
Revenues for the group are up +12% "thanks to a strong organic growth, and outstanding profitability expansion in the third quarter of 2022". Amplifon's posted revenues for the first nine months of 2022 up 11.6%, passing 1.5 billion euros, with recurring net profit at 120 million euros (+13.7%). This achievement is set against a particularly strong 2019 Q3 revenue growth showing good resistance to the pandemic factor (+19% in Q3 2021 compared to the same period in 2019)
“The results for the third quarter and the first nine months of 2022 once again show our ability to grow more than the reference market and across all the core geographic areas, strengthening Amplifon’s global leadership in hearing care solutions and services," says the group's CEO Enrico Vita.
"We have today an ideal positioning in terms of market share, service quality, innovation capabilities and expertise allowing us to successfully compete in an uncertain macroeconomic and geopolitical environment as the current one and to continue to grow and generate value for our stakeholders,” added the Amplifon supremo.
Europe, Africa, Middle-East, Americas all strong for business
In the third quarter, revenues in Europe, the Middle East and Africa (EMEA) were higher than in the same period of 2021, despite decline in the French market, with profitability showing an "outstanding improvement". Amplifon's Americas market recorded "excellent revenue growth, driven by double-digit organic growth, well above the reference market, despite the extremely challenging comparison with the third quarter of 2021". Asia Pacific (APAC) reported an "excellent performance, fueled by strong organic growth and the contribution of Bay Audio in Australia, despite the impact of high Covid infection rates in July through mid-August mainly in Australia and New Zealand".
Outlook rosy for Amplifon
While wary of a global macroeconomic environment that is not expected to improve, and cautioning in its announcement about possible geopolitical, inflation, and pandemic related issues. the group's announcement contains a rosy forecast of organic growth faster than the reference market (revenues in the region of 2,150 million euros; EBITDA recurring margin in the region of 25%)