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WS Audiology continued to grow revenue and earnings under challenging market conditions in Q3 2021/22

25 Aug 2022

Press release

Lynge, Denmark – August 25, 2022 – WS Audiology today announced continued revenue and earnings growth in Q3 of the financial year 2021/22 (1 April – 30 June 2022).

Highlights Q3 2021/2022

 

  • Revenue grew 11% to EUR 586 million (3% organic growth) in a challenging Q3 impacted by softer market conditions,COVID-19-related lockdowns, supply challenges and the war in Ukraine.
  • Normalized EBITDA increased by 4% to EUR 120 million (20.4% margin)on the back of pricing actions and strict cost discipline in the face of higher component and freight costs.
  • All regions contributed to growth despite the negative impact of COVID-19 on multiple markets.
  • WSA introduced a new regional structure and established WSA Americas in early Q4 to drive growth in the US, Canada, and Latin America.

 

Highlights 9M 2021/2022

  • For the first nine months of the fiscal year, WSA delivered reported growth of 15% (organic revenue growth of9%) to EUR 1,749 million, and normalized EBITDA increased by 11% to EUR 388 million (margin of 22.2%).
  • For the financial year 2021/22 WSA expects organic growth of around 7%with an additional 2%-points growth from acquisitions and normalized EBITDA above EUR 500 million.

Q3 revenue growth was particularly strong in the APAC region, supported by positive contributions from acquisitions and currency tailwind. Earnings increased on the back of the good momentum and successful synergy realizations combined with measures taken to control operational expenses amid higher costs.

 

“WSA continued to grow in the third quarter of the financial year despite softer market conditions and a highly challenging external environment. I am very pleased that all regions contributed to growth and delivered on our purpose of making wonderful sound a part of everyone’s life. Despite the global uncertainties, we are on track to deliver on our multi-brand multi-channel strategy, and we expect strong organic growth of around 7% for the full financial year 2021/22,” said WS Audiology CEO Eric Bernard.

 

 

For more information:

Gert van Santen
Vice President, Corporate Communications
gert.vansanten@wsa.com
Tel: + 45 22 71 18 64

 

About WS Audiology

Formed in 2019, through the merger of Sivantos and Widex, WS Audiology combines over 140 years’ experience in pioneering the use of technology to help people with hearing loss hear the sounds that make life wonderful. With truly differentiated brands like Widex, Signia, Rexton, Audio Service and Vibe, and with diverse assets across wholesale, retail, online, managed care and diagnostic solutions, we are active in over 125 markets. WS Audiology employs almost 12,000 people and is privately owned by the Tøpholm and Westermann families, as well as funds under the management of EQT. As a global leader, our ambition is to unlock human potential by making wonderful sound part of everyone’s life.