MILAN, ITALY — Amplifon reported continued growth and improved profitability in the third quarter of 2026, as the global hearing care retailer prepares for its planned acquisition of GN Hearing, a transaction that could significantly reshape its position in the hearing healthcare industry.
The company reported third-quarter revenue of €575 million (~$621 million USD), an increase of 2.1% compared with the same period last year. Organic growth, which measures performance excluding the effects of acquisitions, currency fluctuations, and certain business changes, reached 3.6%.
For the first nine months of 2026, Amplifon generated €1.76 billion (~$1.90 billion USD) in revenue, while adjusted operating profits and cash generation improved compared with the previous year.
The company attributed its performance to improving demand for hearing care services across major markets, along with efforts to streamline its global operations and improve efficiency.
Hearing Care Demand Remains Positive Across Major Markets
Amplifon reported organic growth across all three of its major geographic regions during the third quarter, including Europe, the Americas, and Asia Pacific.
In the United States, the company noted that demand in the private hearing care market remained strong, particularly among consumers purchasing hearing aids and services directly. This growth helped offset continued weakness in the insurance-funded segment.
Across the Americas, Amplifon reported organic growth of 3.3% during the quarter. The company also expanded its U.S. retail presence through the acquisition of 40 clinics in Louisiana, bringing its directly operated Miracle-Ear network to approximately 450 locations.
In Europe, the Middle East, and Africa, organic growth reached 3.5%, supported by strong performance in Southern Europe. Asia Pacific recorded 4.2% organic growth, driven in part by activity in Australia and China.
While revenue growth remained relatively modest overall, Amplifon reported stronger profitability as its operational restructuring efforts continued to deliver results.
Clinic Network Changes Support Improved Profitability
Amplifon has been implementing a company-wide initiative known as Fit4Growth, aimed at improving operational efficiency and focusing resources on more profitable areas of its business.
The program has included the closure of more than 230 clinics globally since its launch, the termination of a managed care agreement in the United States, and the sale of underperforming businesses in the United Kingdom and India.
Although these changes have reduced the company’s overall reported revenue growth, Amplifon said they have helped improve operating margins and profitability.
For the first nine months of 2026, adjusted operating profit increased 11.5% compared with the same period last year. In the third quarter alone, adjusted operating profit rose nearly 22%.
The company also reported a substantial improvement in cash generation, providing additional financial flexibility as it prepares for its next phase of expansion.
GN Hearing Acquisition Moves Closer to Completion
Beyond its quarterly performance, Amplifon continues preparing for its planned acquisition of GN Hearing, announced earlier this year.
The transaction, valued at approximately $2.5 billion USD when announced, would combine Amplifon’s extensive global hearing care retail network with GN Hearing’s hearing technology development and manufacturing operations.
As previously reported, the transaction includes a proposed issuance of 56 million new Amplifon shares to GN Store Nord, which would give GN a significant ownership stake in the combined business.
On October 29, Amplifon shareholders approved the capital increase, marking another milestone toward completion of the transaction.
The acquisition would bring established hearing aid brands including ReSound, Beltone, Interton, Danavox, and Danalogic into an organization that also operates one of the world’s largest hearing care retail networks.
Amplifon has also arranged financing to support the transaction, including a €1.35 billion (~$1.46 billion USD) loan agreement announced in June.
Amplifon CEO Enrico Vita said the company’s recent performance reflects progress in strengthening its existing operations.
“Third quarter results confirm the solid improvement in our performance, with a very positive organic growth and a significant increase in profitability, supported by operating leverage and the Fit4Growth program.”
Vita also emphasized the company’s preparations for integrating GN Hearing.
“Meanwhile, the planning for the integration of GN Hearing is progressing according to timetable, with the aim of being fully prepared at the closing of the acquisition. We are excited about the extraordinary opportunities for growth, innovation and value creation for all stakeholders that this new phase of our journey will bring.”
Amplifon said the acquisition remains on track for an expected closing by the end of 2026, subject to regulatory approvals and other customary conditions, including the separation of GN Hearing from the broader GN Group.
Until the transaction is completed, the two companies will continue operating independently.
Looking Ahead
Amplifon reaffirmed its expectations for the remainder of 2026, projecting organic revenue growth above 3% and continued improvement in profitability.
The company also expects global hearing care market demand to grow approximately 3% this year, reflecting a generally positive outlook for the industry despite ongoing economic uncertainty.
For hearing healthcare professionals and industry observers, the results provide a picture of a company strengthening its retail operations while preparing for a potentially significant shift in its business model.
If completed, the GN Hearing acquisition would bring together a major global hearing care retailer and an established hearing technology manufacturer, creating a company with a presence across multiple stages of hearing healthcare delivery.
About Amplifon
Amplifon, global leader in the hearing care retail market, empowers people to rediscover all the emotions of sound. Amplifon’s around 14,300 employees worldwide strive every day to understand the unique needs of every customer, delivering exclusive, innovative and highly personalized products and services to ensure everyone the very best solution and outstanding experience. The Group, with annual revenues of 2.4 billion euros, operates through a network of 9,700 locations in 24 countries and 5 continents.
More information about the Group is available at corporate.amplifon.com.
Source: Amplifon
