Amplifon released its latest financial report. Highlights of the report include:


  • Consolidated revenues of 1,948.1 million euros, an increase at constant exchange rates of 29.5% compared to 2020 and of 18.7% compared to 2019 (not impacted by the Covid-19 pandemic);
  • Recurring EBITDA amounted to 482.8 million euros (USD $533.7 million), an increase of 32.0% compared to 2020 and of 26.8% compared to 2019, with the margin at 24.8%, rising 190 basis points compared to 2019 thanks to “greater operating efficiency, also after significant investments in the business;”
  • Recurring net profit at 175.2 million euros (USD $194 million), an increase of 81.4% compared to 2020 and of 49.6% compared to 2019;
  • Excellent free cash flow of 254.9 million euros (USD $282 million), unchanged compared to 2020, “not a meaningful comparison base due to the measures implemented in response to the Covid-19 emergency,” and 105.0 million euros (USD $116 million) or 70.1% higher compared to 2019;
  • Net financial debt at 871.2 million euros (USD $963 million), higher than the 633.7 million euros (USD $700 million) posted at December 31st, 2020, after over 600 million euros (USD $663 million) investments in M&A, Capex, dividends, and share buyback, with financial leverage of 1.68x at December 31st, 2021;
  • Proposed dividend of 26 euro cents (USD .29 cents) per share, an increase of 18.2% compared to the 22 euro cents (USD .24 cents) per share paid in 2020, with a payout of around 37% on the consolidated net earnings per share.1

“2021 was a truly outstanding year for Amplifon. We achieved excellent financial results, the operating performance of the business saw a further strengthening of our competitive positioning and we undertook important strategic initiatives,” said Amplifon CEO Enrico Vita. “In fact, during the year we closed the Bay Audio acquisition in Australia, the second-largest acquisition ever in our history. Moreover, the Elite business in the United States was discontinued, consistent with our strategy to provide the best customer proposition directly to the end consumer. We also continued our expansion in the Chinese market and launched the Amplifon Product Experience in four new countries, including the important Spanish market. Our commitment to sustainable long-term growth was further strengthened via a significant acceleration in innovation and sustainability. We are, therefore, very confident in the short and medium-term prospects of our Company.”

To read the full report, please click here.

Source: Amplifon