MedWatch

Turbulent markets won't prevent Sonova's grand platform launch

The biggest hearing aid manufacturer in the world had to downgrade its full-year expectations on Tuesday due to global market unrest, but is still planning to move ahead with a new product platform launch, says CEO Arnd Kaldowski.

Arnd Kaldowski, CEO of Sonova Group | Photo: Sonova / PR/Daniel Hager Photography & Film

The world’s biggest hearing aid manufacturer, Swiss Sonova, downgraded its 2022/2023 guidance on Tuesday, blaming a weak private US market, soaring inflation, war in Ukraine, low consumer trust, and high freight and component costs.

Following the financial revision, Sonova is now expecting revenue growth of 15-19% measured in local currencies, compared to a previous 17-21%, and an operating result (EBITA) of 6-10% in local currencies compared to a previous 12-18%.

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