Sonova reported soft H2 results. While full-year sales and profitability continued to grow, this was at lower end of the management’s guidance. Besides this, lower-than-expected FY 23/24 guidance spooked the markets. Fortunately, given the healthy developments w.r.t. product launches along with aggressive inorganic bets, the sizeable shareholder rewards remain compelling. Overall, while our positive stance is reiterated to capitalise on today’s extreme share price reaction, investors’ may instea ....