LYNGE, DENMARK — WS Audiology today reported strong financial results for the first quarter of its 2023/24 fiscal year. The company posted 13% organic revenue growth to 654 million euros ($700 million USD) for the three months ending December 31, 2023. This corresponded to a reported EBITDA (earnings before interest, taxes, depreciation and amortization) margin of 20.2%.
The robust performance was driven by double-digit growth across all of WS Audiology’s business units and regions. A key growth driver was the successful launch of Signia’s Integrated Xperience hearing aids.
“WSA is off to a strong start this year with double-digit growth across all businesses and geographies, driven by the successful Signia IX platform. This quarter we look forward to launching more breakthrough innovations from our multi-brand portfolio that will enable us to deliver wonderful sound for all. We expect the good momentum to continue and upward adjust our revenue guidance for the fiscal year 2023/24.”
–WS Audiology CEO, Eric Bernard
Based on the solid first quarter revenue growth, WS Audiology upwardly adjusted its full-year organic revenue guidance from 6-10% to 7-10% for fiscal year 2023/24. The company maintained expectations of increasing its reported EBITDA margin by 1-2 percentage points versus last fiscal year.
Overall, WS Audiology’s first quarter results signal that the hearing aid market’s growth trajectory remains strong. With its strong portfolio of brands and new product pipeline, the company appears poised to deliver robust financial performance through the remainder of its 2023/24 fiscal year.
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 12,500+ 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. Learn more at www.wsa.com