Italy · Delayed Price · Currency is EUR Amplifon Earnings Call Transcripts
Fiscal Year 2026
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Strong Q1 2026 results with record profitability and accelerating organic growth, driven by momentum in key markets and effective execution of strategic initiatives. Confident outlook for 2026 with organic growth above 3% and further margin expansion expected.
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A transformative acquisition will create a global, vertically integrated leader in hearing care, combining advanced technology and clinical expertise. The deal, valued at EUR 2.3 billion, targets EUR 60–80 million in synergies by 2029 and is expected to close by end-2026, pending regulatory approvals.
Fiscal Year 2025
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2025 saw modest revenue growth and margin pressure amid weak market demand, but efficiency initiatives and portfolio optimization are driving improved profitability. The Fit4Growth plan is ahead of schedule, with significant margin gains expected by 2027.
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Q3 saw 2.4% sales growth at constant FX and a 19.1% adjusted EBITDA margin, with strong U.S. and EMEA performance offset by FX headwinds and APAC weakness. The Fit for Growth program is ahead of schedule, targeting improved margins by 2027, and full-year revenue growth is guided at 2–2.5%.
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Q2 and H1 2025 saw modest revenue growth but declining margins amid macroeconomic headwinds, with EMEA and Southern Europe particularly weak. The 'Fit for Growth' program aims to structurally boost profitability, and guidance anticipates improved conditions and 3% revenue growth for FY25.
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Revenues grew 2.6% year-over-year, with record adjusted EBITDA margin and strong M&A activity. Outlook for 2025 is confirmed, expecting acceleration in revenue growth, especially in France and the U.S., supported by new product launches and favorable market trends.
Fiscal Year 2024
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Revenue grew 7% at constant FX in 2024, led by strong U.S. gains and muted Europe, with significant investments in capacity and marketing. 2025 guidance targets 5–9% revenue growth and margin expansion above 24%, driven by a European recovery, especially in France, and continued U.S. growth.
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Q3 saw 8% revenue growth at constant FX, driven by strong organic and M&A expansion, despite a flat European market and margin pressure from investments and network transformation. Outlook remains positive for 2025, especially in France, with continued focus on growth and profitability.
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Q2 and H1 2024 saw strong revenue and EBITDA growth, driven by robust U.S. and Asia Pacific performance and significant M&A, despite European market volatility and margin dilution from direct retail expansion. Guidance for high single-digit sales growth and margin improvement is maintained.