Annual Report 2020/21
To our shareholders
Letter to shareholders
Sonova has successfully navigated the challenges imposed by the COVID-19 pandemic and sustained positive momentum in the market recovery, achieving strong earnings growth and cash flow in the second half-year.
Group sales were CHF 2,602 million, a decrease of 6.8% in local currencies and 10.8% in Swiss francs. After a steep decline in the first quarter, sales recovered, returning to growth in the second half-year.
The adjusted Group EBITA reached CHF 603.0 million, up 5.6% in local currencies and but down 2.9% in Swiss francs. As reported, Group EBITA stood at CHF 663.3 million, up 30.5% in local currencies and 19.7% in Swiss francs.