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Sonova cautious on sales, profit targets for current year | The Hearing Blog
Sonova's sales growth for this fiscal year may be less than half its mid-term target, the world's biggest hearing aid maker said on Tuesday, partly because of the impact of U.S. disposals and restructuring. From Reuters: Sonova, ($SONVY) facing heightened competition from smaller rivals Widex and Sivantos following their merger this month, expects 2018/2019 sales to increase 2 to 4 percent, with earnings before interest, taxes and amortization increasing 6 to 9 percent, both in local currencies. That is behind its mid-term goal of 5-7 percent sales growth and an EBITA increase of 7-11 percent. Sonova is in the process of selling its EPIC hearing managed care provider in the United States, which has nearly $50 million in sales, giving up revenue in the short term for a long-term supply agreement. Sonova did not name the buyer. A continuing shake up of its U.S. store network will also to weigh on top-line growth, the company said. Sonova is adding new functions to its hearing aids that