16/03/2006 | 07:00 CET | Financial results
On Track to Set New Records in the Second Half of 2005/06
The Phonak Group is now expecting organic sales growth in local currency of around 20% for the financial year 2005/06, compared with a November 2005 guidance of 17-19%. Our better than expected success is driven by the very good market acceptance of the PALIO-based hearing systems (PALIO: modular plattform for new product development); especially Savia and microSavia have positioned themselves as the benchmark products in the high end. Sales growth in the Group’s reporting currency, Swiss francs, is now in the region of 26-27%. Additional contributors to this outstanding growth are the acquisition of the controlling interest in CAS Produtos Médicos Ltda. (the Brazilian market leader in hearing instrument distribution), various smaller acquisitions and positive currency translation effects of approximately 3%. With regard to profit guidance for the financial year 2005/06, we are confident of meeting the target of an EBIT margin of 22-24% (previous year: 18.8%).