Operating free cash flow at Sonova Holding AG surged to CHF 287 million in the first half of its fiscal year, a dramatic jump from just CHF 89.7 million recorded during the same period a year earlier.
The Swiss hearing care group’s core operating profit margin reached 20.9%, clearing analyst consensus estimates of 19.2% and marking a meaningful step up from the 18.4% margin posted twelve months prior.
That margin expansion translated into a core EBIT figure of CHF 384.0 million, representing growth of 22.9% in local currency terms and 21.4% measured in Swiss francs against the prior-year result of CHF 316.4 million.
Reported EBIT for the period came in at CHF 372.0 million, while the company’s bottom line reached CHF 251.3 million, equal to CHF 4.22 per share.
Gross profitability also strengthened considerably, with the reported gross profit margin widening to 74.4% compared with 72.2% in the equivalent period of the previous year.
Core gross profit climbed to CHF 1,369.7 million, advancing 11.0% in local currencies and 10.2% in Swiss francs, supported by both strong volume growth and favorable average selling price trends across the business.
Sonova attributed the improvement partly to the absence of one-off costs that had weighed on results in the prior year, when the company was managing the ramp-up and regionalization of its manufacturing and logistics operations.
Both the Wholesale and Retail segments contributed to the positive average selling price development, reinforcing the breadth of the underlying commercial momentum rather than reliance on any single channel.
Management responded to the strong interim performance by lifting its full-year guidance, with sales now forecast to grow between 6% and 8% in the 2026/27 financial year, narrowing and tightening the upper bound of the prior range of 5% to 8%.
The core EBIT growth outlook received a more substantial upgrade, with Sonova now targeting an increase of between 10% and 13%, compared with the earlier projection of 7% to 10%, signaling growing confidence in the durability of its operational improvements heading into the second half of the year.
