LYNGE, DENMARK – WS Audiology today announced its financial performance for the third quarter of the fiscal year 2022/23, spanning from April 1 to June 30, 2023.
In the third quarter of 2022/23, WS Audiology demonstrated robust growth, achieving an organic revenue increase of 8% (4% reported), amounting to EUR 612 million (~$721M USD). This impressive growth was propelled by strong expansion across all geographic regions in which the company operates.
Reported EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reached EUR 120 million (~$141M USD), reflecting a notable EUR 32 million increase compared to the previous year’s figures. This translates to a substantial 36% growth in EBITDA, showcasing the company’s enhanced operational efficiency.
The year-to-date performance for the first nine months of the fiscal year 2022/2023 also underscored WS Audiology’s positive trajectory. The company achieved a significant organic revenue growth of 6% (6% reported), resulting in EUR 1.85 billion (~2.2B USD) in revenue. The reported EBITDA for this period stood at EUR 362 million (~$427M USD), with an EBITDA margin of 19.5%.
These results align with WS Audiology’s fiscal year guidance, indicating an anticipated 5-8% organic revenue growth and an upswing in reported EBITDA margin by 1-2 percentage points.
Eric Bernard
Eric Bernard, CEO of WS Audiology, expressed satisfaction with the Q3 results, confirming their alignment with the company’s projections and affirming their progress toward meeting the full-year guidance. Bernard attributed the success to the strength of their multi-brand, multi-channel strategy, and the innovation showcased by their product portfolio.
Bernard stated, “Growth was solid and broad-based across all regions, and we are pleased that our multi-brand, multi-channel strategy and innovative product portfolio continued to deliver strong performance.”
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 130 markets. WS Audiology employs 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. To learn more, please visit www.wsa.com
Source: WSA
