Zurich (awp) – Sonova shares were under pressure on Tuesday on the Swiss Stock Exchange, after the publication of a mixed performance in the first half of the 2024/25 staggered financial year. If the Zurich manufacturer of hearing devices and implants’ revenues, which were on the rise, exceeded analysts’ expectations, profitability turned out to be lower than expected.
After opening the session of the Swiss Stock Exchange with a fall of 3%, the registered name of the Stäfa group has certainly recovered somewhat, but noted around 9:50 a.m. still in the red, the title dropping another 1.50% to 312 Swiss francs . The SPI benchmark index fell at the same time by 0.27%.
Generally speaking, the evolution of turnover received a favorable reception from analysts, its growth in local currencies being higher than expected. Even the most optimistic forecasts have been exceeded. This has not been the case in terms of profitability, by far. Some experts believe that Sonova prioritized revenue growth over margins for new product launches. Others attribute the decline in margins to stiff competition.
The confirmation of growth targets for turnover and operating profit for the entire financial year brings some comfort to the hearts of analysts, with Sonova counting on a clear recovery in the second half. At the Zurich Cantonal Bank (ZKB) Daniel Jelovcan emphasizes that the launch of the Phonak Sphere Infinio hearing aids is going very well.
His colleague Sibylle Bischofberger from the Vontobel bank makes the same observation. For her too, there are plausible explanations for the decline in margins. It further indicates that management is counting on market share gains in the second half.
year/str
Business
Related News :