Sonova’s H1 15 results were rather soft (consensus miss on profitability), dragged down by currency fluctuations (following de-pegging of the CHF) and weakness in the Cochlear implants (CI) business. Sales were up by 6.7% at LC to CHF1bn (+1.3% in CHF), with a strong performance from Hearing instruments (+8.7% at LC; +2.9% in CHF) being partially negated by the protracted sluggishness in the smaller CI segment (-11.2% at LC; -12.9% in CHF). Profitability fared worse with EBITA increasin
19 Jan 2016
Sluggish CI (cochlear implants) and forex drive earnings downgrade
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Sluggish CI (cochlear implants) and forex drive earnings downgrade
Sonova Holding AG (0QPY:LON) | 0 0 0.7% | Mkt Cap: 9,662m
- Published:
19 Jan 2016 -
Author:
Jyoti Prakash -
Pages:
3
Sonova’s H1 15 results were rather soft (consensus miss on profitability), dragged down by currency fluctuations (following de-pegging of the CHF) and weakness in the Cochlear implants (CI) business. Sales were up by 6.7% at LC to CHF1bn (+1.3% in CHF), with a strong performance from Hearing instruments (+8.7% at LC; +2.9% in CHF) being partially negated by the protracted sluggishness in the smaller CI segment (-11.2% at LC; -12.9% in CHF). Profitability fared worse with EBITA increasin