Sonova predicts product launches will accelerate growth

In 2023/24 Sonova’s revenue was lower than the previous year due to currency conditions, but the hearing aid firm expects this to change. 
Photo: Arnd Wiegmann
Photo: Arnd Wiegmann
AF MARKETWIRE

Swiss hearing aid manufacturer Sonova predicts that growth will accelerate in 2024/25 compared to the previous financial year, the company announced on Tuesday morning.

Growth is expected to be driven by ”further significant product launches”, according to the report, which showed revenue growth of 3.2% and an increase in adjusted operating profit of 4.4% - both in local currencies.

In 2024/25, Sonova, which competes with Danish companies Demant, GN and WS Audiology in the hearing aid market, expects revenue growth of 6-9% and an increase in adjusted operating profit, EBITA, of 7-11% - also in local currencies.

”We are well positioned to accelerate growth and engage with even more consumers at multiple points in their hearing journey. The coming fiscal year will include further significant product launches that will enhance our industry-leading performance and drive growth, especially in the second half of the year,” Sonova writes.

In 2023/24, Sonova posted sales of CHF 3.63bn (USD 3.7bn), which was 3.0% lower than the previous year due to currency headwinds. Currency conditions also meant that adjusted operating profit measured in Swiss francs fell 8.2% to CHF 771.4m (USD 849.7m).

Sonova, which offers brands including Phonak, Unitron, Hansaton Audionova and Sennheiser, proposes a dividend of CHF 4.3 (USD 4.7) per share.

English edit: Catherine Brett

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