Strong top-line growth (+10.2% at constant exchange rates), driven by above-market organic growth and M&A in core markets. Continuous improvement in all profitability lines: EBITDA increases 8.5%(+35 bps) and net profit rises sharply by 23.5%.
Successful launch of the Amplifon product line and the digital ecosystem in Italy after the close of the quarter, Amplifon announced the acquisition of GAES group, the largest ever M&A deal in the company’s history.
Main results for the first half of 20181 :
- Consolidated REVENUES of 662.8 million euros, up 10.2% at constant exchange rates and 6.2% at current exchange rates compared to the same period of 2017
- EBITDA reached 112.2 million euros, an increase of 8.5%, with the margin coming in at 16.9% of revenues, an increase of 35 basis points compared to the same period of 2017 despite the adverse FX translative effect
- NET PROFIT amounted to 49.1 million euros, an increase of 23.5% compared to the first half of 2017
- NET FINANCIAL DEBT was 319.6 million euros, slightly higher than the 296.3 million euros reported at December 31st , 2017 and the 300.5 million euros reported at June 30th , 2017
- FREE CASH FLOW was positive for 44.5 million euros, an increase of 12.0 million euros compared to the same period of 2017