Amplifon, Ebitda grows within the first quarter | EUROtoday

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Amplifon closed the primary three months of the 12 months with a rise in profitability (Ebitda on revenues) of 100 foundation factors in comparison with the identical interval final 12 months (at 23.9%, for 136.8 million), pushed by the nice momentum of EMEA market (though normalizing) and by development in different geographical areas. Positive begin additionally for revenues, up 8.8% at fixed change charges. International enlargement continues (over 150 factors of sale acquired in three months). For the remainder of the 12 months, the corporate confirms the outlook and expects high-single digit income development, supported by natural development and acquisitions (with a contribution of no less than 2%), whereas the Ebitda margin on a recurring foundation ought to exceed 24.6%, additionally due to productiveness enchancment actions. «In the primary quarter – he explains the CEO of Amplifon, Enrico Vita – we achieved a robust enhance in revenues and document profitability thanks above all to the strong efficiency in Europe in a market present process normalization, the continued development within the Americas and Asia Pacific and the effectiveness of the productiveness enchancment actions launched within the second half of final 12 months.” This trend also continued in April: the company reports having recorded high-teens growth in revenues at constant exchange rates, also due to the early Easter in March. «We continue to grow more than the reference market and at the same time, we are accelerating the pace of bolt-on acquisitions, adds Vita -: we are confident that we will be able to continue this path throughout 2024».

In detail, in the first three months the group generated revenues of 573.1 million: +8.8% at constant exchange rates and +6.1% at current exchange rates compared to the first quarter of 2023, thanks to organic growth of 5.6 %, higher than the reference market; the contribution of the acquisitions, carried out in France, Germany, the United States, Uruguay and China, was 3.2%: the total investment was 70 million euros. Recurring Ebitda was 136.8 million (+10.7% compared to the first quarter of 2023): the incidence on revenues was 23.9%, with a record increase of 100 basis points compared to the same period of 2023. Looking at the individual markets, in EMEA the incidence grew by 130 basis points (376.1 million revenues +4.5% on the corresponding period of last year), while in the Americas there was a decline, from 24.6% to 23.7%, against a turnover that grew by 9.9% to 110.8 million; finally, in Asia-Pacific, the Ebitda margin was 28.1%, compared to 86.2 million in revenues. The net result was 35.7 million, the free cash flow was 37.2 million, the net financial debt reached 883.3 million.

As mentioned, the outlook for the current year has been confirmed. «During the first three months of the year, demand from the hearing care market in the United States remained strong – explains the company – while the European market is moving towards progressive normalization and returning to slightly positive territory, confirming expectations of the company for the whole of 2024″.