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Investing.com -- Shares of Sonova Holding AG (OTC:SONVY) rose over 3% on Friday after the hearing solutions provider reported stronger-than-expected full-year sales and announced a CEO change.
For the 2024-25 financial year, Sonova posted group sales of CHF 3.87 billion, a 7.6% increase in local currencies, driven by market share gains across all four business segments.
Adjusted group EBITA rose 7.4% to CHF 807.8 million, reflecting successful product launches and improved commercial execution.
The second half of the year saw a notable acceleration, with sales up 9.2% and adjusted EBITA climbing 16.6% in local currencies.
Despite these gains, currency headwinds tempered the results in Swiss francs, with sales increasing 6.6% and adjusted EBITA rising 4.7%.
The company will propose a dividend of CHF 4.40 per share at its upcoming Annual General Shareholders’ Meeting.
Sonova also announced that CEO Arnd Kaldowski will step down on September 30, with Eric Bernard, former CEO of WS Audiology, set to take over on October 1, 2025.
Analysts at Morgan Stanley (NYSE:MS) noted that sales exceeded consensus by 1%, while EBITA and margins were in line.
Growth was supported by strong uptake of the Sphere Infineo platform, although U.S. market softness weighed on the overall performance. The Cochlear Implants division outperformed, with EBITA 15% ahead of expectations.
Sonova’s guidance for 2025-26 indicates solid constant-currency growth, with sales projected to rise 5–9% and EBITA to increase 14–18%.
However, the company cautioned that exchange rate fluctuations could reduce reported growth by 4 percentage points for sales and 5–6 percentage points for EBITA.
Organic growth contributed 6.4% to sales, and acquisitions added 1.2%. Currency fluctuations negatively impacted reported sales by CHF 37.7 million.
The company also incurred CHF 44.2 million in restructuring costs but still saw an 8.1% increase in adjusted gross profit, reaching CHF 2.8 billion.
Regionally, Sonova saw growth across all markets, with EMEA up 7%, the U.S. increasing 7.7%, the rest of the Americas rising 10.8%, and APAC advancing 8.1%.