WS Audiology adjusts outlook based on positive results

WS Audiology grew revenue by 9% to EUR 633 million in the second quarter of the fiscal year 2022/23, said the company announcing this May 9 its Q2 2022/23 results (January 1 – March 31, 2023).

The group attributes its optimism to continued strong growth in US Managed Care, market share gain in a key account in the US, and strong growth in its Asia-Pacific territories, including Japan and recovery in China.

Its reported EBITDA of EUR 122 million was flat compared to EUR 121 million in Q2 last year (margin 19.3%), with profitability impacted by one-off effects, mix effects and freight cost.

In the first six months of the fiscal year, WSA reported revenue grew by 7% (5% organic growth) to EUR 1,240 million and delivered stable reported EBITDA of EUR 243 million compared to last year (margin of 20%).

Hence, WSA adjusts its outlook for the fiscal year 2022/23 to reflect the positive momentum in the first six months. The outlook for organic growth is increased to 5-8% (prev. low single-digit organic growth). The outlook for the reported EBITDA margin at 1-2%-pts increase vs. FY21/22 is maintained.

WS Audiology CEO, Eric Bernard, said:“We are pleased with the strong revenue performance in Q2 which was driven by Americas and APAC including Japan and a strong recovery in China. We upgrade our guidance for the fiscal year 2022/23 to reflect the positive momentum we have seen in the first six months. The outlook for organic growth is increased to 5-8% while we reiterate our expectations of increasing the reported EBITDA margin by 1-2 percentage-points.”

This positive WSA news comes hot on the heels of other upbeat forecasts from Demant and GN, and Amplifon.

Source: WSA