Notes to the financial statements of Sonova Holding AG as of 31 March 2026
The financial statements of Sonova Holding AG, with registered office in Stäfa, comply with the requirements of Swiss Law on Accounting and Financial Reporting (32nd title of the Swiss Code of Obligations, ʼSCOʼ). The company does not have any employees (previous year: none).
2.1Financial income/expenses
Financial income/expenses consists of gains and losses from sale/transfer of shares in relation to long-term incentive plans, realized/unrealized foreign exchange gains and losses as well as interest income/expenses.
2.2Financial assets
Financial assets contain loans to third parties as well as to Group companies and are recognized at cost less adjustments for foreign currency losses and impairment of value. Loans granted in foreign currency are translated at balance sheet date.
2.3Investments
Investments consist mainly of participations in fully consolidated Group companies. They are subject to individual valuation.
2.4Bonds
Bonds are valued at nominal value. Any bond premium/discount is accrued/capitalized and released/amortized linearly over the term.
2.5Treasury shares
Treasury shares are recognized at cost and deducted from shareholdersʼ equity. The gain or loss from sale is recognized in the income statement as financial gain or financial loss.
3.1Bonds
As of 31 March 2026, the Group has the following bank loans/bonds outstanding:
Financial liabilities | Carrying amount (CHF million) | Currency | Nominal value | Interest rate | Maturity | |||||
Bank loan (credit facility) | 103.9 | USD | 130 | 4.04% | n/a | |||||
Fixed-rate bond | 299.8 | CHF | 300 | 0.75% | 6 October 2028 | |||||
Fixed-rate bond | 199.4 | CHF | 200 | 1.05% | 19 February 2029 | |||||
Fixed-rate bond | 99.9 | CHF | 100 | 0.00% | 11 October 2029 | |||||
Fixed-rate bond | 199.7 | CHF | 200 | 1.95% | 12 December 2030 | |||||
Fixed-rate bond | 249.9 | CHF | 250 | 1.40% | 19 February 2032 | |||||
Fixed-rate bond | 149.6 | CHF | 150 | 0.93% | 6 October 2033 | |||||
Fixed-rate bond | 99.8 | CHF | 100 | 0.40% | 11 October 2034 |
3.2Treasury shares
Treasury shares held by Sonova Holding AG Number/CHF million | ||||
Number | Treasury shares at cost | |||
Balance 1 April 2025 | 18,825 | 5.6 | ||
Purchase of treasury shares | 290,000 | 63.1 | ||
Sale / Transfer of treasury shares | (86,618) | (20.1) | ||
Loss from sale of treasury shares | (3.1) | |||
Balance 31 March 2026 | 222,207 | 45.6 | ||
3.3Contingent liabilities
CHF million | 31 March 2026 | 31 March 2025 | ||
Guarantees given in respect of rental obligations of Group companies | 1.1 | 1.7 | ||
Guarantees given in respect of bank loans of Group companies | 64.5 | 0.0 | ||
Guarantees given in respect of insurances of Group companies | 5.0 | 0.0 |
The Swiss Sonova entities form a VAT group and, hence, every company participating in the group is jointly and severally liable for VAT debt of other group participants. Further Sonova Group companies participating in the cash pool are jointly and severally liable for any debit position or outstanding overdraft in connection with them.
3.4List of investments
Company name | Activity | Domicile | Share/paid-in capital1) Local currency 1,000 | Shares held by Sonova Holding | ||||||
Switzerland | ||||||||||
Sonova AG | A,B,C,D | Stäfa | CHF | 2,500 | 100% | |||||
Sonova Communications AG | B, C, D | Murten | CHF | 500 | 100% | |||||
Verve Hearing Systems AG | A | Stäfa | CHF | 100 | 100% | |||||
EMEA (excluding Switzerland) | ||||||||||
Sonova Belgium NV | A, B | Asse Zellik (BE) | EUR | 15,311 | 70%2) | |||||
Sonova Deutschland GmbH | B | Fellbach (DE) | EUR | 41 | 85%2) | |||||
Sonova Denmark A/S | B | Middelfart (DK) | DKK | 14,182 | 78%2) | |||||
Sonova Ibérica S.A.U. | B | San Vincente del Raspeig (ES) | EUR | 7,000 | 100% | |||||
Sonova France SAS | B | Bron-Lyon (FR) | EUR | 1,000 | 30%2) | |||||
SCI Du Triangle De Bron | A | Bron-Lyon (FR) | EUR | 46 | 100% | |||||
Sonova Norway AS | B | Oslo (NO) | NOK | 3,708 | 49%2) | |||||
Sonova Polska Sp. Z o.o. | B | Warsaw (PL) | PLN | 100 | 100% | |||||
Sonova RUS LLC | B | Moscow (RU) | RUB | 4,000 | 100% | |||||
Sonova UK Ltd. | B | Warrington (UK) | GBP | 2,500 | 100% | |||||
Boots Hearing Care Ltd. | B | Llandudno (UK) | GBP | 03) | 51% | |||||
For significant indirect investments refer to Note 7.6 of the consolidated financial statements of Sonova Holding AG.
Description:
AHolding/Finance: The entity is a holding or finance company.
BSales: The entity performs sales and marketing activities for the group.
CProduction: This entity performs manufacturing for the group.
DResearch: This entity performs research and development activities for the group.
1)Share/paid in capital may not reflect the taxable share/paid-in capital amount and does not include any paid-in surplus.
2)The remaining shares are held by a subsidiary of Sonova Holding AG.
3)GBP 133
Company name | Activity | Domicile | Share/paid-in capital1) Local currency 1,000 | Shares held by Sonova Holding | ||||||
Americas | ||||||||||
Sonova Canada Inc. | B | Mississauga (CA) | CAD | 03) | 85%2) | |||||
Sonova Mexico Soluciones S.A. de C.V. | B | Ciudad de Mexico (MX) | MXN | 94,050 | 85%2) | |||||
AudioNova Mexico S.A. de C.V. | B | Ciudad de Mexico (MX) | MXN | 66,050 | 99%2) | |||||
Sonova United States Hearing Instruments, LLC | B | Aurora (US) | USD | 03) | 73%2) | |||||
Asia/Pacific | ||||||||||
Sonova Hearing (Suzhou) Co., Ltd. | C | Suzhou (CN) | CNY | 46,249 | 100% | |||||
Sonova (Shanghai) Co., Ltd | B | Shanghai (CN) | CNY | 20,041 | 80%2) | |||||
Sonova Hearing India Pvt. Ltd. | B | Mumbai (IN) | INR | 459 | 56%2) | |||||
Sonova Korea Ltd. | B | Seoul (KR) | KRW | 50,000 | 100% | |||||
Sonova New Zealand (Wholesale) Ltd. | B | Auckland (NZ) | NZD | 250 | 100% | |||||
Sonova Singapore Pte. Ltd. | B | Singapore (SG) | SGD | 250 | 100% | |||||
Sonova Taiwan Pte. Ltd. | B | Zhonge City (TW) | TWD | 3,100 | 100% | |||||
Sonova Operation Center Vietnam Co., Ltd. | C | Thuan An (VN) | VND | 36,156,000 | 100% | |||||
Sonova Vietnam Company Limited | B | Ho Chi Minh City (VN) | VND | 2,088,000 | 70%2) | |||||
For significant indirect investments refer to Note 7.6 of the consolidated financial statements of Sonova Holding AG.
Description:
BSales: The entity performs sales and marketing activities for the group.
CProduction: This entity performs manufacturing for the group.
1)Share/paid in capital may not reflect the taxable share/paid-in capital amount and does not include any paid-in surplus.
2)The remaining shares are held by a subsidiary of Sonova Holding AG.
3)Shares without par value
3.5Significant shareholders
The following overview shows the significant shareholders as of 31 March 2026 based on shareholdings recorded in the share register and notifications on the SIX Swiss Exchange online reporting platform. Significant shareholders may also hold non-registered shares.
20261) | 20262) | 20251) | 20252) | |||||
No. of shares | In % | No. of shares | In % | |||||
Beda Diethelm and Annamaria Diethelm-Pandiani 3) | 6,712,923 | 11.26 | 6,712,878 | 11.26 | ||||
Family of Hans-Ulrich Rihs 3), 4) | 3,683,649 | 6.18 | 3,683,649 | 6.18 | ||||
BlackRock, Inc. | 3,334,293 | 5.10 | 3,334,293 | 5.10 | ||||
UBS Fund Management (Switzerland) AG | 3,263,184 | 5.48 | 3,263,184 | 5.48 | ||||
MFS Investment Management 6) | 1,847,415 | 3.02 | 1,847,415 | 3.02 | ||||
T. Rowe Price Associates, Inc. | 1,791,406 | 3.00 | 3,025,893 | 5.08 | ||||
The Capital Group Company, Inc. 5) | n.d. | <3.00 | 1,990,498 | 3.34 |
1)Or at the last reported date if shareholdings are not registered in the share register.
2)On the basis of the shares of Sonova Holding AG registered in the commercial register at the last reported date which may differ.
3)Beda Diethelm and Hans-Ulrich Rihs were already shareholders before the Initial Public Offering in November 1994. There are no shareholders’ agreements among these individuals and they can trade freely.
4)Hans-Ulrich Rihs, Gabriela Rihs and Stefan Rihs as a group jointly control 3,683,649 registered shares (corresponding to 6.18% of total Sonova share capital) pursuant to the last disclosure notice. These shares were previously controlled by Hans-Ulrich Rihs as a single shareholder.
5)The Capital Group Companies, Inc. are held by the following direct or indirect holders: Capital Research and Management Company, Los Angeles, US; Capital International Sarl, Geneva, CH; Capital International Limited, London, GB; and Capital International, Inc., Los Angeles, US.
6)MFS Investment Management, formerly known as Massachusetts Financial Services, is held by Sun Life Financial Inc. which is traded on the TSX, NYSE and PSE (ticker symbol SLF).
3.6Shareholdings and participations
Sonova Holding AG granted the following number of shares and options as part of the employee participation plans.
1 April to 31 March, CHF million | 2025/26 1) | 2024/25 1) | ||||||||||||||
Shares | Options (incl. SARs) | Shares | Options (incl. SARs) | |||||||||||||
Number (units) | Fair Value | Number (units) | Fair Value | Number (units) | Fair Value | Number (units) | Fair Value | |||||||||
Board of Directors | 7,041 | 1.5 | 5,668 | 1.8 | ||||||||||||
Executive Committee | 1,540 | 0.4 | 12,490 | 0.7 | 6,044 | 2.1 | 32,640 | 2.6 | ||||||||
Employees | 73,150 | 14.6 | 117,409 | 5.2 | 49,558 | 15.2 | 66,862 | 5.3 | ||||||||
Total | 81,731 | 16.5 | 129,899 | 5.8 | 61,270 | 19.1 | 99,502 | 7.9 | ||||||||
1)For further details see also Note 7.4 in the consolidated financial statements.
For further details to shareholdings in the company by members of the Board of Directors and by members of the Executive Committee, in accordance with Swiss Code of Obligation article 663c, refer to the compensation report of Sonova Holding AG.
3.7Events after the balance sheet date
There have been no material events after the balance sheet date.