Dear Readers,

2019 was truly an outstanding year thanks to our winning strategy. In fact, we once again posted record financial results, confirming the reliability of the Company, the validity of our strategic plan and our strong execution capability. We reached record revenues and EBITDA1, of €1,732.1 and €301.2 million, respectively, up 27.1% and 28.8% compared to the previous year. 

But besides numbers there is much more. 2019 was the year in which we continued the roll-out of our Amplifon Product Experience, launching it in France, Germany, The Netherlands, the United States and Australia, to offer to an increasingly growing number of customers innovative solutions and personalized experiences that make it possible to rediscover all the emotions of sounds. Thanks to the synergy between the Amplifon product line and the multichannel ecosystem, we can collect and analyze usage data of personalized devices, consumers’ feedback and needs, as well as behavioral data and use them in order to offer unique, distinctive and excellent service and experience. For a life-changing technology.

And the reshaping of the market cannot exist without internal transformation. For this reason, we also aim to innovate the way our people work, as they are our most important and strategic resource for Amplifon, by offering them stimulating career opportunities and new working tools so that they can feel constantly motivated and recognized. In 2019 we therefore continued to promote an increasingly attractive and high-performance organization, to invest in the implementation of a winning workplace, by standardizing the operating model of all the countries in which we operate, the finance, procurement and human capital management activities, and to focus on high-quality training, amounting to around 390,000 hours of training for all our workforce. To change the lives of millions of people around the world together.

Finally, to support the transformation of the industry and how hearing care is perceived, we are strongly committed to raising awareness about hearing wellbeing, thus facilitating access to hearing solutions capable of promoting social inclusion. For example, through the "Ci Sentiamo Dopo" awareness project  - which started in 2019 and involves primary and secondary schools classes in Italy - we want to encourage young people to become ambassadors of responsible listening and hearing wellbeing and we will give them the tools to create an interactive map of the country's acoustic ecology for a more informed life.

Of course, responsible, correct and transparent conduct cannot be left out. We are committed to complying with the highest standards in how we operate and compete, as reflected in our Code of Ethics and our Group Anti-Corruption Policy, in order to protect the value for all our stakeholders.

These results and many others are included in this consolidated non-financial statement drafted in accordance with the Italian Legislative decree no. 254/2016, which also represents Amplifon's Sustainability Report. Everything we have done to date encourages us to look confidently to the future and our stakeholders’ expectations and to raise our awareness of sustainability matters. We hope that you will continue to follow us on this important path that makes us proud and that encourages us to always do better.