WS Audiology (WSA) has announced strong results for the financial year 1 October 2023 to 30 September 2024, achieving 10% organic revenue growth to €2.6 billion (A$4.2 billion).
It also announced a 13% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA).
Releasing results on 27 November 2024, it said key drivers included the success of the Signia IX platform and the launch of Widex SmartRIC.
Mr Jan Makela, WS Audiology CEO, said it had been a great year for WSA.
“We delivered on our guidance with strong organic revenue growth of 10% and solid margin expansion,” he said.
“We gained market share in all regions, and Signia IX continues to lead the way, delivering more than twice the speech enhancement benefit in noisy group conversations than the closest competitors.
“We pride ourselves on developing and marketing leading products that deliver superior results and test performance.”
He said the net loss for the year due to the alignment of useful lives of certain intangible assets with medical device industry standards “did not impact our current or future EBITDA, revenue streams or cash flows”.
“We are confident that our continued investments in innovation and this year’s performance position us for continued, strong profitable growth,” he said.
WSA said highlights for the 2023-2024 financial year included:
- Delivering organic revenue growth of 10% (7% reported) driven by strong growth in all regions.
- EBITDA before special items increased by 13% with an EBITDA margin before special items of 20.6% – an increase of 1.1%-points on last year.
- Results were in line with the upward revised guidance of seven to 10% organic growth and a 1-2%-points EBITDA margin increase versus FY2022-2023 (19.5%).
- Signia IX continued to be a key growth driver across all regions, supported by the launch of the Widex SmartRIC.
- As announced on 29 July 2024, WSA aligned the useful lives of certain intangible assets with medical device industry standards, resulting in a one-time net loss of €1,197 million in the financial year 2023-2024.
Highlights from Q4 2023-2024
- WSA delivered organic revenue growth of 10% to €658 million (A$1.06 billion) (7% reported) driven by strong broad-based growth in all regions.
- EBITDA before special items was €142 million (A$230 million) representing a margin of 21.6%.
For the financial year 2024-2025, WSA said it expected 3-6% organic revenue growth, supported by its competitive product portfolio and upcoming launches.
It expected the EBITDA margin to increase by 1-2%-points versus financial year 2023-2024, supported by cost improvement programs and growth.
