WS Audiology grew revenue by 9% to EUR 633 million in the second quarter of the fiscal year 2022/23

Lynge, Denmark – May 9, 2023 – WS Audiology today announced financial results for the second quarter of the fiscal year 2022/23 (January 1 – March 31, 2023)

Highlights Q2 2022/23

• WSA reported revenue grew by 9% to EUR 633 million (9% organic growth) driven by continued strong growth in US Managed Care, market share gain in a key account in the US and strong growth in APAC including Japan and recovery in China.
• Reported EBITDA of EUR 122 million was flat compared to EUR 121 million in Q2 last year (margin 19.3%) with profitability being impacted by one-off effects, mix effects and freight cost.

Highlights 6M 2022/2023

• In the first six months of the fiscal year, WSA reported revenue grew by 7% (5% organic growth) to EUR 1,240 million and delivered stable reported EBITDA of EUR 243 million compared to last year (margin of 20%).
• WSA adjusts the outlook for the fiscal year 2022/23 to reflect the positive momentum in the first six months. The outlook for organic growth is increased to 5-8% (prev. low single-digit organic growth). The outlook for the reported EBITDA margin at 1-2%-pts increase vs. FY21/22 is maintained.

WS Audiology CEO, Eric Bernard, said:

“We are pleased with the strong revenue performance in Q2 which was driven by Americas and APAC including Japan and a strong recovery in China. We upgrade our guidance for the fiscal year 2022/23 to reflect the positive momentum we have seen in the first six months. The outlook for organic growth is increased to 5-8% while we reiterate our expectations of increasing the reported EBITDA margin by 1-2 percentage-points.”

For more information:
Ulla Lundhus
Head of External Communications
ulla.lundhus@wsa.com
Tel: + 45 53 19 47 67

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 12,000 people and is privately owned by the Tøpholm and Westermann families, 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. To learn more, please visit www.wsa.com