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Outlook 2018/19 as of May 22, 2018
We expect continued solid growth in sales and profitability across the hearing instruments and cochlear implants segments during 2018/19, supported by our attractive product and solutions portfolio and our continued commitment to innovation.
Organic growth is expected to reach 3%-5%. The net impact of acquisitions and of the disposal of non-core retail assets as well as the US Hearing Service Plan business is expected to reduce growth by around 1% with a small impact on profitability. We therefore expect overall sales to grow in the range of 2%-4% and EBITA to increase by 6%-9% (compared to normalized FY 2017/18 EBITA), both measured in local currencies.
|Organic sales growth in LC||+3%-5%|
|thereof M&A||ca. - 1%|
|Sales growth in local currencies||+2%-4%|
|EBITA growth in local currencies||+6%-9%|
* EBITA guidance refers to LC growth over normalized FY 2017/18 EBITA.
While actual reported results may vary based on currency fluctuations, Sonova continues to mitigate the impact of currency fluctuations on earnings growth through its long-term global resource allocation strategy.
Sensitivities*: A strengthening of the USD by 5% would affect sales in the financial year by approximately CHF +38 Mio. and EBITA by approximately CHF +9 Mio. The corresponding effect of a 5% stronger EUR would be CHF +53 Mio. on sales and CHF +23 Mio. on EBITA.