MILAN, ITALY — Amplifon announced today that it has secured a €300 million (~$336M USD) loan from the European Investment Bank (EIB) to expedite its innovation and digitalization initiatives. EIB Vice-President Gelsomina Vigliotti and Amplifon CEO Enrico Vita formalized the loan signing in Milan, marking the initial disbursement out of the approved €350 million financing by the EIB.
The funding from EIB will drive further innovation in Amplifon’s products and services, creating an exceptional and personalized hearing care experience centered around customers. Integral to this approach is the integration of robust data and cutting-edge digital technologies, which will play a crucial role in the company’s full ecosystem.
“Financing Amplifon exemplifies the EIB’s strong ties with this leading Italian enterprise, dedicated to improving the lives of individuals with hearing impairments, enabling them to actively participate in society. Amplifon’s investment in research, innovation, and digitalization will enhance its global competitiveness, providing unparalleled hearing care and tailored services to its customers.”
–EIB Vice-President, Gelsomina Vigliotti
“Our capacity to innovate is a cornerstone of Amplifon’s global leadership. This support from EIB affirms our commitment to progress and digital transformation, starting in Italy and across the European Union,” commented Amplifon CEO Enrico Vita. “Our focus is on developing new technologies and utilizing data responsibly to offer our customers an increasingly personalized hearing experience, elevating their quality of life. Additionally, this financing will optimize our financial structure in terms of cost of funding and debt maturity extension.”
EIB Vice-President, Gelsomina Vigliotti (L) with Amplifon CEO, Enrico Vita (R)
The investment will primarily target Italy, with expansions planned for Spain, France, Germany, and other EU countries. The project’s implementation is projected to generate new employment opportunities, contributing to economic growth.
Key aspects of Amplifon’s investment include the development of a novel audiological protocol for hearing assessment and identification of appropriate solutions, including proprietary equipment (Otopad); continuous innovation of the Amplifon app and software, along with wireless interface for remote assistance; and an increased reliance on big data through cloud computing, bolstering the company’s cybersecurity. Furthermore, the EIB financing will support the phased rollout of the new immersive store format, featuring an innovative and sustainable architectural design, as a vital component of the Group’s distribution network renewal program across major European countries.
Amplifon will have access to a flexible instrument of €300 million to be invested over four years (2023-2026). The loan will be disbursed in multiple tranches during the next 24 months and will carry a repayment period of nine years from each disbursement date. Moreover, the loan will feature more favorable terms than currently available on the market, given the strategic role of the EIB in advancing innovation, digital economy, and human development.
The European Investment Bank (EIB) is the long-term lending institution of the European Union and is owned by the EU Member States. It provides long-term financing for sound investments that contribute to EU policy. The Bank finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). Between 2019 and 2022, the EIB Group provided more than €45 billion in financing for projects in Italy.
About Amplifon
Amplifon, the global leader in the hearing care retail market, empowers people to rediscover all the emotions of sound. Amplifon’s around 19.400 employees and partners worldwide strive every day to understand the unique needs of every customer, delivering exclusive, innovative and highly personalised products and services to offer everyone the very best solution and an outstanding experience. With annual revenues of over €2 billion, the Group operates through a network of over 9 300 points of sale in 25 countries and five continents. For more information about the Group, please visit: https://corporate.amplifon.com.
Source: EIB, Amplifon
