WS Audiology revenue grew by 4% to EUR 608 million in the first three months of the fiscal year 2022/23
7 Feb 2023
Highlights Q1 2022/23
- WSA revenue grew by 4% to EUR 608 million (1% organic growth) driven by continued strong growth in Managed Care and market share gain in a key account in the US, while growth as expected was subdued by market stabilization in France on the back of high comparative figures last year, and by declining volumes in the private pay market of US Retail.
- Reported EBITDA of EUR 122 million was flat compared to EUR 124 million in Q1 last year (margin 20.1%) with profitability being impacted by cost inflation and softer US Retail private pay market.
- The first Sony branded over-the-counter (OTC) hearing aids were launched in the US in October 2022. The products have been well received and performance is on plan.
WS Audiology CEO, Eric Bernard, said:
“We are pleased with the performance in the first three months of the fiscal year 2022/23, which is in line with our expectations. Revenue growth was realized from a high comparison baseline in Q1 last year and driven by continued strong momentum in the Managed Care business and market share gain in a key account in the US. Our guidance for the fiscal year 2022/23 of low single-digit organic growth and reported EBITDA margin increase by 1-2 percentage-points is maintained.”
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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 12,000 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. To learn more, please visit www.wsa.com