PEER GROUP: Demant
Financial year 2019/20:
Sonova achieves good results and addresses new challenges
Stäfa (Switzerland), May 19, 2020 – Sonova Holding AG, a leading provider of hearing solutions, today reports the results for the 2019/20 financial year. Consolidated sales increased by 8.7% in local currencies or 5.6% in Swiss francs to CHF 2,917 million. Sonova performed well above expectations until mid-March, when the global market challenges resulting from the COVID-19 pandemic severely affected the Group’s business activities. Adjusted Group EBITA reached CHF 620.8 million, up 10.4% in local currencies. The reported EBITA increased by 1.0% in local currencies but declined by 4.8% in Swiss francs to CHF 554.3 million. Operating free cash flow increased by 55.1% to CHF 638.5 million. The uncertainty about the development of the COVID-19 pandemic prevents accurate guidance for the 2020/21 financial year. However, the attractive fundamentals of the hearing care market remain very much intact.
