Annual Report
2014/15
Highlights & key figures
The Sonova Group achieved a solid performance in the 2014/15 financial year; it continues to reap the benefits of offering one of the broadest and most innovative ranges of hearing care solutions.
+6.2% in local currencies
+9.8% in local currencies
Payout ratio of 38%
Letter to shareholders
In 2014/15, the Sonova Group continued to implement its long-term strategy of customer driven innovation. We made a number of decisions that should contribute to the company’s continued success.
Strategy and brands
Sonova
As the world’s leading hearing care provider, we are not just a technology company: we are a team on a mission to help people enjoy the delight of hearing. To enable a life without limitations, we push the limits of the possible and redefine the future of our industry.
Life knows no limits, and neither should technology. Phonak constantly pushes at the boundaries of what is possible, seeking ever better solutions so that people with hearing loss can live to their fullest.
It takes just a few seconds and the tiny hearing aid is sitting comfortably in Mark Marcotte’s ear canal. Then comes the WOW! Moment: His eyes widen and suddenly he is able to hear the fan in the treatment room. The hearing care specialist smiles: “Welcome to the world of Phonak Lyric!”.
Unitron stands for exceptional customer experience: life-changing products backed by outstanding service to build strong, lasting professional and personal relationships.
The stylish, discreet and comfortable hearing instrument Moxi Kiss from Unitron met with a very positive response from the American market and has won two prestigious design awards. Unitron’s success story began 50 years ago in Canada, and the brand’s presence in the USA dates back four decades.
Connect Hearing matches the best in hearing care technology with the highest standards for professional counseling and personalized solutions, offering clients all the individual attention of a small practice with all the resources of a global business.
“I want to understand the client and offer an all-round solution”, explains Dan Newmark. He is audiologist in a Connect Hearing store in Los Angeles. The consulting approach is uniform worldwide – the customer should feel that he is king.
In performance and innovation, the combination of Advanced Bionics and Phonak technologies stands among the leaders of the cochlear implant industry.
As well as skilled craftsmanship, cochlear implant production at Advanced Bionics calls for cutting-edge technology, and it must meet the highest international safety standards for sterile medical products.
Hearing Aids
Cochlear implants
Retail
Life knows no limits, and neither should technology. Phonak constantly pushes at the boundaries of what is possible, seeking ever better solutions so that people with hearing loss can live to their fullest.
It takes just a few seconds and the tiny hearing aid is sitting comfortably in Mark Marcotte’s ear canal. Then comes the WOW! Moment: His eyes widen and suddenly he is able to hear the fan in the treatment room. The hearing care specialist smiles: “Welcome to the world of Phonak Lyric!”.
Unitron stands for exceptional customer experience: life-changing products backed by outstanding service to build strong, lasting professional and personal relationships.
The stylish, discreet and comfortable hearing instrument Moxi Kiss from Unitron met with a very positive response from the American market and has won two prestigious design awards. Unitron’s success story began 50 years ago in Canada, and the brand’s presence in the USA dates back four decades.
Connect Hearing matches the best in hearing care technology with the highest standards for professional counseling and personalized solutions, offering clients all the individual attention of a small practice with all the resources of a global business.
“I want to understand the client and offer an all-round solution”, explains Dan Newmark. He is audiologist in a Connect Hearing store in Los Angeles. The consulting approach is uniform worldwide – the customer should feel that he is king.
In performance and innovation, the combination of Advanced Bionics and Phonak technologies stands among the leaders of the cochlear implant industry.
As well as skilled craftsmanship, cochlear implant production at Advanced Bionics calls for cutting-edge technology, and it must meet the highest international safety standards for sterile medical products.
Governance & disclosure
Corporate governance
Transparency is one of the key elements of good corporate governance, to which Sonova is committed.
Compensation
Sonova is all about people. The value and success of our company strongly depend on our employees. We therefore aim to attract and retain the best talent available in a highly competitive global employment market. As custodians of shareholders’ equity, we confirm our responsibility to uphold a transparent and sustainable approach to compensation.
Corporate social responsibility
At Sonova we are deeply committed to sustainable business. We work tirelessly to make sure that this commitment aligns with our overall business goals, our vision and mission, and our company values.
Cindy Stroh meets her mentor at the Bionic Ear Association (BEA) for the first time face to face: She has been in contact with him time and again via email and chat with questions. He was always on hand to offer help. The BEA brings experienced cochlear implant recipients into contact with those who are just starting out.
Corporate governance
Transparency is one of the key elements of good corporate governance, to which Sonova is committed.
Compensation
Sonova is all about people. The value and success of our company strongly depend on our employees. We therefore aim to attract and retain the best talent available in a highly competitive global employment market. As custodians of shareholders’ equity, we confirm our responsibility to uphold a transparent and sustainable approach to compensation.
Corporate social responsibility
At Sonova we are deeply committed to sustainable business. We work tirelessly to make sure that this commitment aligns with our overall business goals, our vision and mission, and our company values.
Cindy Stroh meets her mentor at the Bionic Ear Association (BEA) for the first time face to face: She has been in contact with him time and again via email and chat with questions. He was always on hand to offer help. The BEA brings experienced cochlear implant recipients into contact with those who are just starting out.
Financial review
Sonova generated record sales of CHF 2,035.1 million in 2014/15, an increase of 4.3% in reported Swiss francs or 6.2% in local currencies. Group EBITA rose by 5.9% in reported Swiss francs and 9.8% in local currencies to CHF 455.6 million, corresponding to a margin of 22.4%.
Sales by region 2014/15 in %
Sales in CHF M
EBITA in CHF M
Sales
EBITA
EBITA 2012/13 restated following the implementation of IAS 19 (revised). Excluding one-off cost, mainly related to the increase of the product liability provision within the cochlear implants business.
Hear the World Foundation
Sonova’s vision is to create a world in which every person has the chance to enjoy good hearing. Through its charitable projects, the Hear the World Foundation contributes towards achieving this goal by helping disadvantaged people with hearing loss.