Tuesday , January 19 2021

Sunova achieves sales growth and profits in the first half of 2018/19

Stäfa (APA / awp / sda) – In the first half of 2018/19, hearing device manufacturer Sonova increased both sales and profits. However, expectations of analysts can not be fully achieved. However, the company holds firm in the forecast for the whole year.

Specifically, Sonova's revenues in the first half of the year increased by 4.0 percent to 1.30 billion Swiss francs (1.14 billion euros). In local currencies (LW) growth was 2.1 percent, as announced by the company on Tuesday. Meanwhile, organic growth was still at 2.6 percent, which is equivalent to a slower growth than in the same period last year.

Adjusted operating profit (EBITA) increased by 7.6% to 251.3 million Swiss francs, with corresponding margins reaching 19.3%. The hearing aid manufacturer had a value of 18.6% in the previous year. The bottom line was a net profit of 6.5% for a net profit of $ 193.4 million.

Thus, the company did not really reached consensus expectations of the market, except with sales. On average (AWP consensus), a turnover of 1.30 billion or EBITA of 266.0 million Swiss francs was expected. Experts estimated the net profit at 200.6 million francs.

The results for the first half of the year have no effect on the Company's forecast. Here, Sonova still expects organic sales growth of 3 to 5 percent, or net growth of 2 to 4 percent after withdrawals and reorganization. EBITA is expected to grow by at least 6% to 9% in local currencies.

In the medium term, the company expects annual growth in sales of 5% -7%. EBITA is expected to grow by 7% to 11% per year. However, in the current announcement, medium-term goals have not been mentioned again.

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