LYNGE, DENMARK – WS Audiology today announced financial performance in line with guidance in Q1 of the fiscal year 2022/23 (October 1st – December 31st, 2022).
Highlights Q1 2022/23
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Eric Bernard, WS Audiology CEO
WSA revenue grew by 4% to EUR 608 million (1% organic growth) driven by continued strong growth in Managed Care and market share gain in a key account in the US, while growth as expected was subdued by market stabilization in France on the back of high comparative figures last year, and by declining volumes in the private pay market of US Retail.
- Reported EBITDA of EUR 122 million was flat compared to EUR 124 million in Q1 last year (margin 20.1%) with profitability being impacted by cost inflation and softer US Retail private pay market.
- The first Sony branded over-the-counter (OTC) hearing aids were launched in the US in October 2022. The products have been well received and performance is on plan.
“We are pleased with the performance in the first three months of the fiscal year 2022/23, which is in line with our expectations. Revenue growth was realized from a high comparison baseline in Q1 last year and driven by continued strong momentum in the Managed Care business and market share gain in a key account in the US. Our guidance for the fiscal year 2022/23 of low single-digit organic growth and reported EBITDA margin increase by 1-2 percentage-points is maintained.”
–WS Audiology CEO, Eric Bernard
Source: WSA
