Stäfa (awp) – As expected, Sonova growth was slowed down in the first half of the 2018/19 financial year (from the end of September). With the reported results, the hearing aid maker was partly below analyst forecasts. The manager is now looking forward to launching his new product platform.
Production of Sonova's previous production has reached the end of its life cycle. This had been apparent in the last six months, Arnd Kaldowski's head of company said on Tuesday in front of the media. "In terms of pricing, we felt a bit of the head."
In concrete terms, sales in the first half of the year were 4.0 per cent to CHF 1.30 billion compared to the same period of the previous year. In local money (LW), growth was 2.1 percent. Organic growth remained at 2.6 per cent – a clear slowdown of compared to the same period of the previous year.
The control reaches Outlook
Nevertheless, Sonova's control held its guides on Tuesday, anticipating the growth of a net organic sales of a year of 2 to 4 per cent in local currency after extinguishing. EBITA is expected to increase between 6 and 9 per cent in local currency.
To achieve this, the active dynamics in the second semester must increase significantly. This is where the new Marvel platform should help the company. "Marvel will drive our growth over the next six months," said Kaldowski's main company.
With Marvel's hearing aids, a direct transfer of music, phone calls or Bluetooth video content to two user aids hearings is possible. The CEO said the devices, which were based on the company's own Digital Swords (Sonova Wireless One Radio Digital) chips.
There are many advance orders for Marvel
The orders were just as high. Kaldowski said the launch of the predecessor platform two years ago had seen a 20 per cent growth in the corresponding product category.
"There's no reason to assume that we will not succeed again with Marvel," he said. Unlike Hearing Aid Wholesale, Sonova was pleased with sales in the business of red bar implants during the first half of the year.
Looking at the key earnings figures during the first half of the year, EBITA increased by 7.6 per cent to the CHF 251.3 million. The corresponding edge came to a value of 19.3 per cent. The bottom line was a net profit of 6.5 percent higher of 193.4 million.
The medium-term prospects to the company were not affected. Sonova expects an annual sales growth of 5 to 7 per cent. EBITA is expected to grow between 7 and 11 per cent annually.
On the stock market, the shares of the company limited, and the sales and operating income were lower than the consensus estimates. At 14.27, the securities were 3.1 per cent lower on 145.35 Swiss francs. The general market (SPI) fell by 0.7 per cent.
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