WS Audiology delivered 10% organic revenue growth and improved EBITDA by 13% in the financial year 2023/24

Lynge, Denmark – November 27, 2024 – WS Audiology today announced results for the financial year 2023/24 (October 1, 2023 – September 30, 2024) in line with expectations.

Highlights financial year 2023/24

• WSA delivered organic revenue growth of 10% (7% reported) to EUR 2,637 million driven by strong growth in all regions.
• EBITDA before special items increased by 13% to EUR 542 million with an EBITDA margin before special items of 20.6% – an increase of 1.1%-points vs. last year.
• The results were in line with the upward revised guidance of 7-10% organic growth and a 1-2%-points EBITDA margin increase vs. FY2022/23 (19.5%).
• Signia IX continues to be a key growth driver across all regions, supported by the launch of the Widex SmartRIC.
• As announced on July 29, 2024, WSA aligned the useful lives of certain intangible assets with medical device industry standards, resulting in a one-time net loss of EUR 1,197 million in the financial year 2023/24.

Highlights Q4 2023/24

• WSA delivered organic revenue growth of 10% to EUR 658 million (7% reported) driven by strong broad-based growth in all regions.
• EBITDA before special items was EUR 142 million, representing a margin of 21.6%.

WS Audiology CEO, Jan Makela, said:

It’s been a great year for WSA. We delivered on our guidance with strong organic revenue growth of 10% and solid margin expansion. We gained market share in all regions, and Signia IX continues to lead the way, delivering more than twice the speech enhancement benefit in noisy group conversations than the closest competitors. We pride ourselves on developing and marketing leading products that deliver superior results and test performance.

Jan Makela also said:

“The net loss for the year due to the alignment of useful lives of certain intangible assets with medical device industry standards do not impact our current or future EBITDA, revenue streams or cash flows. We are confident that our continued investments in innovation and this year’s performance position us for continued, strong profitable growth.”

Financial year 2024/25 outlook

For the financial year 2024/25, WSA expects 3-6% organic revenue growth, supported by our competitive product portfolio and upcoming launches.

The EBITDA margin is expected to increase by 1-2%-points versus financial year 2023/24, supported by cost improvement programs and growth.

WSA’s Annual Report 2023/24 and integrated Sustainability Statement can be found here. 

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About WS Audiology
Formed in 2019, through the merger of Sivantos and Widex, WS Audiology combines over 140 years’ experience in pioneering the use of technology to help people with hearing loss hear the sounds that make life wonderful. With truly differentiated brands like Widex, Signia, Rexton, Audio Service and Vibe, and with diverse assets across wholesale, retail, online, managed care and diagnostic solutions, we are active in over 130 markets. WS Audiology employs 12,500+ people and is privately owned by the Tøpholm and Westermann families and the Lundbeck Foundation, as well as funds under the management of EQT. As a global leader, our ambition is to unlock human potential by making wonderful sound part of everyone’s life.