FINANCIAL HIGHLIGHTS

Key annual financial data

2025 was a challenging year for the hearing care industry as a whole with growth below historic levels, above all due to the well-known global tensions which affected our patients’ confidence. In this context, we implemented a series of actions to accelerate revenues and improve profitability, which are already generating very positive results, including the return to organic growth in the second half of the year and the acceleration in the ‘Fit4Growth’ performance improvement program. 

2025 RESULTS
Meaningful initiatives to accelerate future revenue growth and structurally enhance profitability

Consolidated revenues

of 2,395.7 million euros, an increase of 1.7% at constant exchange rates compared to 2024, thanks also to the significant improvement in organic growth reported in the second half, despite market growth still below historical levels and the strong comparison base. Revenues substantially stable at current exchange rates due to the exchange effect

EBITDA

adjusted was 540.4 million euros compared to 566.1 million euros in 2024 (-4.5%). The margin was 22.6%, compared to 23.5% in 2024, due mainly to lower operating leverage, the dilution stemming from the growth of Miracle-Ear’s direct network in the United States, the geographic mix in EMEA, and the higher marketing investments to further strengthen the Group’s distinctive assets

net profit

adjusted was 59.2 million euros compared with 188.1 million euros in 2024, due mainly to lower operating leverage

Performance by region

Discover the performance across all the geographic regions compared to 2024.

EMEA

Americas

APAC

EMEA

EMEA

Positive PERFORMANCE, soft market

In 2025, revenues for Europe, the Middle East and Africa amounted to 1,554.7 million euros, with organic per formance at -0.6% in a still soft market environment and thanks to the bolt-on acquisitions (+2.0%) mainly in France and Germany, despite the closure of non-performing clinics.

Americas

Americas

Excellent revenue growth

In 2025, we recorded 495.8 million euros of revenues in the Americas driven by an above-market organic growth (+1.9%) and bolt-on acquisitions in the United States,  (+2.1%). The FX was negative for 6.3%.

APAC

APAC

Strong topline performance

In APAC, revenues were 345.2 million euros in 2025, reporting a flattish orgnic performance (-0.3%) reflecting the underling market, with perimeter stable yera-on-year due to the closure of non-performing clinics and the rationalization of the wholesale business in China. The FX impact was negative for 6.4%.
More about our results by region? read our Annual Report

Our results

Here you can navigate our interactive graph.

In the table above, since 2020, data is presented without the contribution of the Elite business that was discontinued at the end of 2021.
Read also our Sustainability Report Read

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