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Sonova half-year earnings beat expectations on post-pandemic rebound -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO A Phonak Audeo B Direct hearing aid by Sonova, a Swiss manufacturer lies on an Phonak TV Connector in Staefa (Switzerland), August 16, 2017. REUTERS/Arnd Wiegmann

(Reuters) – Sonova Holding AG (OTC:), world’s leading maker of hearing aids announced Monday its first-half core profits, exceeding analysts’ expectations. The company cited strong market recovery due to the coronavirus epidemic.

Sonova Switzerland reported that adjusted earnings before interest and taxes (EBITA), which are higher than 386 million predicted by company polls, reached 406 millions Swiss francs.

Group maintained full-year goals and expects consolidated revenues to rise by 24%-28%, while adjusted EBITA will grow between 34%-42%.

($1 = 0.9193 Swiss francs)

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