1.Basis for preparation
1.4Changes in accounting policies
In the 2025/26 financial year the Group adopted the following new IFRS Accounting Standards, interpretations and amendments to existing ones, without having a significant impact on the Groupʼs result and financial position:
- Lack of Exchangeability – Amendments to IAS 21
The Group has assessed the expected impacts of the new and revised standards and interpretations that will be effective for the financial year starting 1 April 2026. These standards are not expected to have a material impact on the Group in the current or future reporting periods and on foreseeable future transactions. The Group is also assessing other new and revised standards which are not mandatory until after 2026.
IFRS 18 “Presentation and Disclosure in Financial Statements”: The new standard on presentation and disclosure in financial statements. The key new concepts introduced in IFRS 18 relate to the structure of the statement of profit or loss, required disclosures in the financial statements for certain profit or loss performance measures that are reported outside an entityʼs financial statements and enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes in general. The Group is still in the process of assessing the impact of the new accounting standard that will become effective from 1 April 2027, particularly with respect to the structure of the Groupʼs consolidated income statement, consolidated cash flow statement and the additional disclosures required.
1.3Significant accounting judgments and estimates
Preparation of financial statements in conformity with IFRS Accounting Standards requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses and related disclosures. This includes estimates and assumptions in the ordinary course of business as well as non-recurring events such as the outcome of pending legal disputes. The estimates and assumptions are continuously evaluated and are based on experience and other factors, including expectations of future events that are believed to be reasonable. Actual results may differ from these estimates and assumptions.
The main estimates and assumptions with a significant risk of resulting in a material adjustment within the next financial year are described in the following notes:
Description | Further information | |
Allocation of the transaction price to performance obligations | Note 2.3: Revenue | |
Renewal options in leases | Note 3.4: Leases | |
Capitalization of development costs | Note 3.5: Intangible assets | |
Impairment test | Note 3.5: Intangible assets | |
Provisions for warranty, returns and product liabilities | Note 3.7: Provisions | |
Fair value of financial liabilities at fair value through profit or loss | Note 4.8: Financial instruments | |
Deferred tax assets | Note 5.1: Taxes | |
Business combinations | Note 6.1: Acquisitions/disposals of subsidiaries | |
Discontinued operations and associated fair value measurement | Note 6.3: Discontinued operations | |
Defined benefit plans | Note 7.3: Employee benefits |
1.2Basis of consolidated financial statements
The consolidated financial statements of the Group for the reporting period 1 April 2025 to 31 March 2026 have been prepared in accordance with IFRS Accounting Standards issued by the International Accounting Standards Board (IASB) and comply with Swiss law. The consolidated financial statements were prepared under the historical cost convention except for the revaluation of certain financial assets at market value. The consolidated financial statements were authorized for issue by the Board of Directors of Sonova Holding AG on 13 May 2026 and are subject to approval by the Annual General Shareholdersʼ Meeting on 16 June 2026.
The consolidated financial statements are presented in millions of Swiss Francs (CHF) and rounded to the nearest hundred thousand. Due to rounding, numbers presented throughout this report may not add up precisely to the totals provided. All ratios and variances are calculated using the underlying amount rather than the presented rounded amounts.
The consolidated financial statements include Sonova Holding AG as well as the domestic and foreign subsidiaries over which Sonova Holding AG exercises control. A list of the significant consolidated companies is given in Note 7.6.
Accounting policies of relevance for an understanding of the consolidated financial statements are set out in the specific notes to the financial statements.
Consumer Hearing business classified as discontinued operation
On 23 March 2026, Sonova announced that following a strategic portfolio review it intends to divest its Consumer Hearing business. The business is classified as discontinued operation as of 31 March 2026. In accordance with IFRS 5, the “Consolidated income statement” and the “Consolidated cash flow statement” for the 2024/25 financial year have been restated for discontinued operations (Refer to Note 6.3). The “Consolidated statement of comprehensive income”, the “Consolidated balance sheet” and the “Consolidated statement of changes in equity” for the 2024/25 financial year are not restated.
1.1Corporate information
The Sonova Group (the “Group”) is a global leader in innovative hearing care solutions: from personal audio devices and wireless communication systems to audiological care services, hearing aids and cochlear implants. The Groupʼs globally diversified sales and distribution channels serve an ever growing consumer base in more than 100 countries. The ultimate parent company is Sonova Holding AG, a limited liability company incorporated in Switzerland. Sonova Holding AGʼs registered office is located at Laubisrütistrasse 28, 8712 Stäfa, Switzerland.