Sonova pegs annual results at low end of forecast as hearing aids market slows [Reuters]
RHEINMETALL AG UNSP/ADR (RNMBY)
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Source: Reuters
Nov 14 (Reuters) - Sonova (SOON.S) , the world's largest maker of hearing aids, on Monday posted half-year core profit a touch below expectations and said it saw annual sales and earnings at the lower end of its outlook due to a slowdown in the global market. "Over the course of the first half, we have seen a slowing momentum of the global hearing care market as a result of macroeconomic headwinds, which are expected to persist for the remainder of the financial year," Chief Executive Arnd Kaldowski said. The hearing aids market, which had been recovering from COVID-related lockdowns that kept patients from seeing doctors or audiologists, is now facing soaring input costs and subdued demand from inflation-hit consumers. Sonova reported adjusted core earnings (EBITA) of 398.1 million Swiss francs ($420.34 million) for the first half of the fiscal year that started on April 1, a 3% rise on a constant currency basis but slightly below analysts' estimate of 399.5 million francs in
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