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Current outlook

Outlook as of September 28, 2020

 

Guidance
2H 2020/21

Implied guidance
FY 2020/21

Sales growth in local currencies

+4% to +8%

-6% to -8%

Adjusted EBITA growth* in local currencies

+20% to 30%

~0%

* EBITA guidance excludes restructuring costs in both FY 2019/20 and FY 2020/21, damages awarded in patent infringement lawsuit to Advanced Bionics in FY 2020/21 as well as one-time costs related to the voluntary field corrective action in the CI segment in FY 2019/20

 

For the second half of the financial year 2020/21, the Group expects revenue growth of 4%-8% and an increase of the adjusted EBITA in the range of 20%-30% compared with the prior year period, both at constant exchange rates. 

For financial year 2020/21, this implies a sales decline of 6%-8% and the adjusted EBITA to be at around prior year levels, both at constant exchange rates. 

The outlook considers a limited temporary impact from the recent rise in infection rates and re-tightening of lockdown restrictions in several markets. Beyond the headwinds from the momentary reacceleration of the pandemic, the Group expects a continued gradual market recovery. 

As a consequence of the strengthening of the Swiss franc and reflecting mid-November exchange rates, Sonova anticipates reported sales growth in Swiss francs to be reduced by around 5 percentage points and the adjusted EBITA growth in Swiss francs to be negatively affected by around 10 percentage points in financial year 2020/21.