Stäfa, Switzerland — Sonova Holding AG announced half-year results for the period ending September 30, 2011. The company saw strong organic growth from its Phonak Spice and Unitron ERA platforms. The Group generated sales of CHF 763.0 million ($852,042,100) in the first half of fiscal 2011/12; however, this was a decrease of 8.2% in reported Swiss francs compared to the previous year’s period due to a negative currency impact of 16.5%.
In the various local currencies where Sonova hearing aids are sold, sales actually increased 8.3% from organic growth of 4.2% and acquisition growth 4.1%. Hearing aids accounted for 95% of Group turnover, recording a strong growth rate of 11.4% in local currencies.
Consolidated operating profit (EBITA) was CHF 138.4 million ($154,551,280) or 18.1% of sales. With the negative currency impact on EBITA of CHF 53.2 million ($59,408,440), EBITA at constant currencies would have been CHF 191.6 million ($213,959,720), or 21.3% of sales.
The hearing instruments segment generated sales of CHF 723.8 million ($808,267,460) in the first half of 2011/12, which represents a local currency growth rate of 11.4%, of which 7.0% was contributed by organic growth and 4.4% from acquisitions made in the previous year and in the reporting period. This positive development was offset by a negative currency impact of 16.9% during the reporting period.
Sonova’s report also credited the strong organic sales increase to the success of the Phonak Spice platform products and Unitron ERA platform products. The company generated 80% of total sales in the hearing instruments segment from products that have been on the market for less than 2 years.
Overall, the success of Spice and ERA-based products was seen in all regions. In Europe, Sonova achieved growth of 11.3% in local currencies, driven by strong performances in France, Switzerland, the United Kingdom, and Italy.
The hearing instruments segment generated 11.9% growth in local currencies in the Americas region (including the United States). Sales of hearing aids were strong in the USA, where Phonak maintained its market share with the Department of Veterans Affairs (VA) while growing its share in the private market.
In addition, Unitron performed very well in the private market given the success of its new ERA platform of products that were launched in June and July 2011 in this region. In the Asia/Pacific region, the segment grew 8.7% in local currencies, primarily as a result of further market share gains in Japan and a continued high market growth in China.
More detailed information on this report can be downloaded from Sonova’s website.
SOURCE: Sonova Holding AG