Amplifon : Q3 review – Solid top line, but bottom line below expectations
>Strong top line driven by 9% organic growth - Amplifon reported Q3 revenue of € 531.3m (+5.7% y-o-y), +3%/+1% vs ODDO BHF/consensus.Sales growth in local currencies was 11.4% (vs 8.0% expected). Organic growth was 9.0%, supported by a recovering global hearing aid market. Acquisitions contributed 240bp, while forex accounted for a headwind of 470bp. Europe performed solidly with 5.8% growth in constant currencies (5.0% organic growth). The Americas region was up...Amplifon is multinational company engaged in the ddistribution, fitting, adaptation and personalization of hearing systems (hearing aids) designed to meet the needs of those suffering from hearing disabilities. Co. is also engaged in the sale of accessories such as batteries, consumables and spare parts, as well as in the distribution of biomedical devices. Co. is active in 20 different countries: Italy, France, Germany, Switzerland, The Netherlands, Belgium, Luxembourg, the U.K., Ireland, Spain, Portugal, Hungary, Turkey, the U.S., Canada, Australia, New Zealand, India, Egypt, and in Poland.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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