MILAN, ITALY — Major hearing aid retailer Amplifon SpA announced today that the company’s net profits for the first quarter (Q1) of 2017 were up by 49.1 percent over last year. The company, which owns well-known brands such as Miracle Ear and the Elite Hearing Network, also reported overall revenue up from €254.5 million last year in Q1 to €296.1 million in 2017.
The company has continued to expand its burgeoning global network of hearing clinics, adding 173 stores in Q1, as well as 30 shop-in-shop locations. Among the recent growth in locations are the now-finalized acquisitions from Sonova of the French AudioNova locations and the Portuguese Minisom retail chain.
“We have begun the year with excellent results, further accelerating our already strong growth trend, which remains at a much more robust pace than the market, as well as consolidating our leadership and gaining market share in all the countries where we operate. For the thirteenth quarter in a row, we posted solid, constant organic growth well balanced among all the geographic areas.”
–Enrico Vita, Amplifon CEO
Retail Hearing Aid Center Growth Expected to Continue
Amplifon is one of the largest retailers of hearing aids in the world. The company’s annual sales exceed one billion euros and is present in 22 countries.
The company says that it expects to continue positive gains throughout the rest of 2017.