Salem Radio Network News Tuesday, December 7, 2021

Business

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

(Reuters) – Sonova Holding AG, the world’s biggest maker of hearing aids, on Monday reported first-half core profit above analysts’ expectations, citing solid market recovery after the coronavirus pandemic.

Switzerland-based Sonova said its adjusted earnings before interest, taxes and amortization (EBITA) reached 406 million Swiss francs ($442 million), above the 386 million francs expected on average by analysts in a company-provided poll.

The group maintained its full-year targets, and still expects consolidated sales to increase by 24%-28% and adjusted EBITA to grow in the range of 34%-42%.

($1 = 0.9193 Swiss francs)

(Reporting by Bartosz Dabrowski in Gdansk; Editing by Tom Hogue)

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