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Sonova Holding AG (PHBN.DU)
- Reuters
Sonova's profit warning less severe than feared; shares jump 7%
Sonova's shares jumped more than 7% early on Tuesday after the Swiss hearing aid maker's downward adjustment of full-year core earnings estimates was less severe than investors had feared. The world's largest maker of hearing aids expects its annual adjusted core earnings (EBITA) to grow between 4% and 8% in local currency, compared with a previous target of 6% to 10%. "Shares are trading up, most likely because there is a relief in the market that the profit warning was not bigger than what it turned out to be," Carnegie analyst Niels Granholm Leth said.
- Reuters
Sonova full-year profit falls short after loses big US client
Sonova Holding AG, the world's largest maker of hearing aids, on Tuesday reported full-year core profit below expectations and said a return to "normal growth rates" would take time given weak consumer sentiment and the loss of a big US customer. The Swiss group posted adjusted earnings before interest, tax and amortization (EBITA) of 840.4 million francs ($945.44 million) for the fiscal year ended March 31, missing analysts' forecasts of 859.7 million francs in a poll by Vara Research. Sonova said it expected 2023-2024 consolidated sales to increase 3%-7% and adjusted EBITA to grow in the range of 6% to 10%, measured at constant-exchange rates.
