2024-02-15 10:30:00 ET
Summary
- Sonova Holding warned investors of a slow start to the year due to the loss of a contract renewal in the US.
- The stronger Swiss Franc has negatively impacted the company's financial results.
- Sonova remains optimistic about its full-year prospects, expecting a revenue increase of 3-7% and an increase in EBITA of 4-8%.
Introduction
Sonova Holding ( OTCPK:SONVF ) is a world leader in hearing aids and hearing solutions in general, as it also is the owner of Sennheiser, a well-known brand of headphones. The company recently lost out on a contract renewal in the US and Sonova has been warning for a slow start of the year mainly due to that contract loss. Additionally, the Swiss Franc has gained strength and this has a negative impact on the financial results expressed in Swiss Francs. Additionally, there were some operating challenges to overcome, but fortunately the worst seems to be over. In a previous article, I called Sonova a call option on an aging population, and that still is how I look at the company....
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For further details see:
Sonova Holding: Still A Bit Too Pricey For Me