WS Audiology (WSA) announced its 2021/22 Financial Earnings. The highlights are as follows:

Highlights Q2 2021/2022

  • Revenue grew 20% to EUR 581 million [USD $611 million] (organic growth of 13%) in the face of COVID-19 effects and a tight supply situation.
  • Normalized EBITDA increased by 22% to EUR 134 million [USD $141 million] (23.0% margin) driven by revenue growth, efforts to mitigate inflationary pressure, and continued strong focus on operational cost efficiencies.
  • All regions contributed positively to the strong performance with particularly high growth in EMEA-LA-CA, US independents, and Southeast Asia, according to the company.
  • Wholesale performance was particularly strong with double digit growth across all regions, with “good traction for Signia AX and strong organic growth from the Widex portfolio.”

Highlights H1 2021/2022

  • For the first six months of the fiscal year, revenue grew 17% to EUR 1,163 million (organic growth of 12%) and normalized EBITDA increased by 14% to EUR 268 million [USD $282 million] (margin of 23.1%).
  • WSA maintains the 2021/22 outlook and a positive view on expected business developments despite market uncertainties.

“Our employees continued to generate strong operational and financial results in the second quarter of the financial year despite facing high levels of market uncertainty. We reported strong growth in revenue and profitability fueled by solid sales activity across all business units and a sharp focus on pricing and cost containment in a highly volatile business environment that calls for decisiveness,” said WS Audiology CEO Eric Bernard.

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According to WS Audiology, the increase in Q2 revenue was driven mainly by organic growth supplemented by positive contributions from acquisitions and currency tailwind. Profitability was positively impacted by the high organic growth and supported by the continued improvements driven by synergy realizations, efficiencies, and good cost control.

Based on the strong development in the first half of 2021/22, the company maintains its guidance, expecting “high single digit organic growth with an additional 2%-points growth from acquisitions and normalized EBITDA above EUR 500 million [USD $526 million], assuming no material business disruption from the pandemic and component availability issues.”

“We continued to make progress in Q2 and we are confident that we will be able to navigate through a volatile period and deliver on our guidance,” said Bernard.

Source: WS Audiology