WSA Q2 2022 results: WS Audiology generated strong growth in revenue and earnings in Q2 of the financial year 2021/22 (1 January – 31 March 2022)
5 May 2022
Highlights Q2 2021/2022
- Revenue grew 20% to EUR 581 million (organic growth of 13%) in the face of COVID-19 effects and a tight supply situation.
- Normalized EBITDA increased by 22% to EUR 134 million (23.0% margin) driven by revenue growth, efforts to mitigate inflationary pressure and continued strong focus on operational cost efficiencies.
- All regions contributed positively to the strong performance with particularly high growth in EMEA-LA-CA, US independents and Southeast Asia.
- Wholesale performance was particularly strong with double digit growth across all regions, with good traction for Signia AX and strong organic growth from the Widex portfolio.
Highlights H1 2021/2022
- For the first six months of the fiscal year, revenue grew 17% to EUR 1,163 million (organic growth of 12%) and normalized EBITDA increased by 14% to EUR 268 million (margin of 23.1%).
- WSA maintains the 2021/22 outlook and a positive view on expected business developments despite market uncertainties.
“Our employees continued to generate strong operational and financial results in the second quarter of the financial year despite facing high levels of market uncertainty. We reported strong growth in revenue and profitability fueled by solid sales activity across all business units and a sharp focus on pricing and cost containment in a highly volatile business environment that calls for decisiveness,” said WS Audiology CEO Eric Bernard.
The increase in Q2 revenue was driven mainly by organic growth supplemented by positive contributions from acquisitions and currency tailwind. Profitability was positively impacted by the high organic growth and supported by the continued improvements driven by synergy realizations, efficiencies, and good cost control.
Based on the strong development in the first half of 2021/22, we maintain our guidance, expecting high single digit organic growth with an additional 2%-points growth from acquisitions and normalized EBITDA above EUR 500 million, assuming no material business disruption from the pandemic and component availability issues.
“We continued to make progress in Q2 and we are confident that we will be able to navigate through a volatile period and deliver on our guidance,” says CEO Eric Bernard.
For more information:
Gert van Santen
Vice President, Corporate Communications
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.