Italy · Delayed Price · Currency is EUR Amplifon Earnings Call Transcripts
Fiscal Year 2026
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Q3 organic growth was 3.6%, with adjusted EBIT margin up 150 bps and 9M free cash flow more than doubling. FY outlook was reaffirmed as launch-driven sell-in distortions clouded market trends.
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Strong organic growth and margin expansion were achieved across all regions, driven by operational improvements and the Fit4Growth program. Free cash flow surged 70%, and the company remains confident in surpassing 3% organic revenue growth and 100 bps EBITDA margin improvement for 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 €2.3 billion deal targets €60–80 million in synergies by 2029, with minimal integration risk and strong shareholder support.
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 2025 saw 2.4% sales growth at constant FX, with organic growth turning positive and outperformance in key markets. Adjusted EBITDA margin declined due to lower leverage and higher marketing spend. Full-year 2025 revenue is expected to grow 2–2.5% at constant FX, with a 23% EBIT margin.
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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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Record 2024 revenues of EUR 2.41 billion (+7% at constant FX) were driven by strong U.S. growth and major M&A, offsetting European softness. Margin declined due to investments, but 2025 guidance targets 5–9% revenue growth and margin expansion above 24%, with France expected to rebound.
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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.