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WS Audiology delivered 7% organic revenue growth in the second quarter of fiscal year 2023/24

16 May 2024

Press release

Lynge, Denmark – May 16, 2024 – WS Audiology (WSA) today announced financial results for the second quarter of the fiscal year 2023/24 (January 1st – March 31st, 2024).

Highlights Q2 2023/24

  • WSA delivered organic revenue growth of 7% (4% reported) to EUR 655 million supported by continued strong performance of Signia Integrated Xperience and positive reception of Widex SmartRIC, which led to high growth with independents across the world.
  • Reported EBITDA was EUR 122 million corresponding to a margin of 18.6%.
  • WSA completed a successful refinancing transaction, extending the maturities of its long-term loans by three years to 2029, significantly increasing its working capital facilities and reduced net leverage through an equity injection from the owners.

Highlights 6M 2023/2024

  • In the first six months of the fiscal year, WSA delivered 10% organic revenue growth to EUR 1,310 million driven by double digit growth in the consumer facing business and broad-based growth across regions.
  • Reported EBITDA was EUR 254 million corresponding to an EBITDA margin of 19.4%.
  • WSA maintains the guidance for FY 2023/24 of 7 to 10% organic growth and a reported EBITDA margin increase by 1-2%-pts. vs. FY 2022/23.

WS Audiology CEO & President, Eric Bernard, commented:

WSA delivered organic revenue growth and EBITDA performance in line with expectations in the second quarter and completed a successful refinancing with a strong commitment from our owners to support WSA’s continued development and growth. The launch of Widex SmartRIC in the US has exceeded our expectations and I am very pleased with the continued strong momentum and success of the Signia IX platform. Through our continued efforts to be a pioneer in innovation, we are bringing wonderful sound to many more people.

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 130 markets. WS Audiology employs 12,500+ people and is privately owned by the Tøpholm and Westermann families and the Lundbeck Foundation, 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.