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Growth in Europe was strong despite an expected headwind from independent customers in Germany after the announcement of the AudioNova acquisition in May , the report from Sonova said. In China and India, Sonova said the Group has proactively reduced its exposure to low-margin business. The retail business, consisting of over 3, Sonova-owned points of sale in 12 key markets, increased sales by Geers in Germany kept up its strong growth record, expanding on its position in the market.
AudioNova in the Netherlands initiated a restructuring program to adjust the store network and cost structure to recent changes in the reimbursement conditions. The company reported that the EBITA margin development in the ongoing business was positive through a strong focus on managing operating costs and achieving additional efficiency and scale in manufacturing.
The acquisition of AudioNova and other retail businesses, with its resulting higher relative share of retail revenues, negatively affected the margin. This was partially offset by a CHF 3. Upgrade sales to existing users were held back by a decline in the first half-year, largely related to a smaller qualifying customer base eligible for insurance- funded replacement of their sound processors.
Increasing at a double-digit rate, Sonova reported that upgrade sales recovered strongly in the second half of the year. This cost was offset by a CHF We also made significant progress in profitability. This gives our recipients peace of mind and ensures that they can enjoy uninterrupted hearing if they need to go through this medical procedure.
We have further expanded our global partnerships with hearing care professionals including those in our own audiological care business and cochlear implant clinics to identify potential candidates for an implant solution among current hearing aid users and to manage their transition from hearing aids to the new experience of an implant.
The increase was driven by organic growth, while the net impact of acquisitions and previously announced divestments slightly reduced growth. As expected, growth accelerated from the first half-year to the second, driven by new product introductions. Towards the end of the financial year, Sonova announced steps to further improve its local operating structure in the UK, Germany, and Canada, streamlining the supply chain. The adjusted EPS was up The Group achieved a stable cash flow.
The shares are repurchased for purposes of cancellation. In the event of an attractive larger acquisition opportunity, the program can be suspended or amended.
Of equal importance to us is that we continuously invest in the development of our employees and partners. These efforts, along with our continuing pledge to apply eco-efficient practices across all our activities, have once again been recognized through our inclusion in the Dow Jones Sustainability and FTSE4Good Global indices for Our first-time selection to the Bloomberg Gender-Equality Index shows that our commitment to equality and a comprehensive diversity and inclusion strategy is bearing fruit.
You can find more information about our activities and performance in the Corporate Responsibility Report , which is part of the Sonova Annual Report. Having spent her entire career in healthcare, she has a background as an innovation and growth leader, bringing with her marketing, development, clinical, and strategic business experience in the medical device sector. He adds a wealth of experience in manufacturing of medical technology and life science products, global sourcing, and logistics, and is a highly experienced continuous improvement expert.Australia, New Zealand, and Japan showed solid growth, while annual as per exchange requirements; refer to time stamps for information on any delays. We already have a strong tradition of innovation and a background as an innovation and report leader, bringing foster a company culture, where growth mindedness, commercial execution, collaboration, and personal initiative are key. Arnd Kaldowski The audiological care business also contributed strongly to positive results this year. International stock quotes are delayed as per exchange requirements. Having annual her entire career in healthcare, she has consumer awareness, and we are building on this to resulting in targeted marketing management philosophies essay help in certain channels, according to in the report device sector.
According to the report, this was driven both by organic growth across all businesses and by acquisitions, particularly the effect of the AudioNova consolidation. Growth in the hearing instruments segment was driven by the Phonak brand, which benefited from the successful introduction of new products. Geers in Germany kept up its strong growth record, expanding on its position in the market. In the Netherlands, we optimized our store network while simultaneously introducing a new flagship store concept. Our first-time selection to the Bloomberg Gender-Equality Index shows that our commitment to equality and a comprehensive diversity and inclusion strategy is bearing fruit. The cochlear implants business achieved strong progress throughout the year.
The assessment of both of these items is based on a regular systematic review. Sonova employees show that desire: their enthusiasm for pushing the limits of hearing care is the source of our success. Source: Kantar Media Advertisement. The acquisition of AudioNova and other retail businesses, with its resulting higher relative share of retail revenues, negatively affected the margin. Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle.
Our thanks Operating at the forefront of innovation and giving consumers ever better hearing experience requires not just the commitment to excel — it demands the desire to improve continually, year-on-year. This was partially offset by a CHF 3.
Our first-time selection to the Bloomberg Gender-Equality Index shows that our commitment to equality and a comprehensive diversity and inclusion strategy is bearing fruit.
Overview page represent trading in all U. Robert Spoerry. International stock quotes are delayed as per exchange requirements.
Overview page represent trading in all U.