Annual Report 2019/20
To our shareholders
Letter to shareholders
Following on from its strong growth momentum over the last two years, Sonova performed well above expectations until mid-March, when the global health and economic crisis resulting from the COVID-19 pandemic severely affected the Group’s business activities. Through its market and innovation leadership, Sonova remains well positioned to benefit from the expected recovery of demand when the situation eases.
Group sales were 2,917 million, an increase of 8.7% in local currencies or 5.6% in Swiss francs. This was driven both by organic growth and bolt-on acquisitions.
The adjusted Group EBITA reached CHF 620.8 million, up 10.4% in local currencies or 4.5% in Swiss francs. As reported, Group EBITA reached CHF 554.3 million, an increase of 1.0% in local currencies vs. the prior year.