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Capital structure

As of March 31, the capital of Sonova Holding AG comprised the following:

  2018 2017 2016
Ordinary capital (in CHF) 3,266,544 3,271,144 3,331,319
Total shares 65,330,887 65,422,887 66,626,387
Conditional capital (in CHF) 266,107 266,107 266,107
Conditional shares 5,322,133 5,322,133 5,322,133

Changes in capital

Of the 8,000,000 maximum approved conditional shares, a total of 5,978,987 shares with a par value of CHF 0.05 each was issued prior to FY 2017/18. Starting in FY 2014/15 Sonova decided to purchase shares on the market to fulfill its obligations under the long-term incentive plans and not to issue shares out of the conditional share capital. The maximum conditional share capital reserved for long-term incentive plans therefore remained unchanged at 2,021,013 shares.

The conditional share capital of 3,301,120 registered shares, which was created on July 7, 2005 in order to increase the company’s financial flexibility, has not yet been used.

The AGM 2017 approved a reduction of the share capital by CHF 4,600 through cancellation of 92,000 registered shares. This capital reduction was the result of the share buyback program as further outlined below, in which the Company repurchased 92,000 registered shares between April 1, 2015 to March 31, 2016.

Share buyback program

On December 1, 2017, Sonova announced the conclusion of its share buyback program with a maximum overall value of CHF 500 million, which had been initiated on December 1, 2014.

During the buyback program, Sonova  repurchased a total of 1,842,400 registered shares (equivalent to 2.74% of the share capital as per the beginning of the buyback program) for a total amount of CHF 241.0 million at an average purchase price of CHF 130.81 per share.The registered shares were repurchased on SIX Swiss Exchange on a second trading line. Sonova has cancelled all 1,842,400 registered shares repurchased on the second trading line. 

The transactions conducted as part of the share buyback program are available at