Stafa, Switzerland — Sonova, parent company of Phonak and Unitron, has reported more than 8% organic growth in the first 6 months of its fiscal year in addition to revenue gains from the acquisitions of cochlear implant maker Advanced Bionics and InSound Medical, developer of the “invisible” Lyric hearing aid.
Sonova’s growth, powered by successful new products introduced over the past 2 years, earned it a substantial increase in market share. However, in the same report, the holding company lowered its earnings forecast for the remainder of the year.
Sonova generated a new sales record of CHF 832 million (USD $799 million) in the first half of 2010-11, an increase of 17.2% in Swiss francs compared to the previous year. The Group consolidated its leading position due to organic sales growth of 8.2% in local currencies and 11.8% growth through acquisitions. EBITA (earnings before deductions of interest, tax and amortization expenses) rose to CHF 204.0 million (USD $196 million). Income after taxes, taking acquisition-related expenses into account, increased to CHF 170.5 million (USD $164 million).
Additional highlights from the Sonova press release:
- 81% of total sales were achieved with products which were launched within the past 2 years. This highlights the success of the entire Phonak portfolio based on the CORE platform.
- EUHA October 2010: Sonova expands its technology leadership by launching a host of new, innovative products based on the new Spice platform.
- The Sonova Group expects organic sales growth of 8-10% in local currencies and an EBITA margin of around 26% for financial year 2010/11.
The complete release is available for download here in PDF format.
SOURCE: Sonova Group