MILAN (ITALPRESS) – The Board of Directors of Amplifon Spa, a world leader in hearing solutions and services, met today under the chairmanship of Susan Carol Holland, approved the Interim Report of Management at 30 September 2025.
In the first 9 months 2025 Consolidated revenues amounted to 1,743.8 million euros, an increase of 1.8% to constant changes compared to the first nine months of 2024 also thanks to the progressive improvement in the third trimester, despite a growth of the market still below the historical levels and the strong comparative base. Revenues substantially stable to current changes due to the impact of change. Adjusted EBITDA amounted to 395.0 million euros compared to 411.7 million euros in the first nine months of 2024.
The margin on revenues is 22.7%, compared to 23.6% in the first nine months of 2024, mainly due to the lower operating lever, the geographic mix of the EMEA area and the dilution resulting from the acceleration of the growth of the direct network of Miracle-Ear in the United States. Net adjusted result equal to 109.6 million euros compared to 134,3 million euros in the first nine months of 2024 also for the greater amortizations resulting from the strong investments in the business and the increase of the financial burdens. Free cash flow amounted to €28.4 million, after Capex for €90.2 million, compared to €50.6 million in the first nine months of 2024-.
Net financial debt amounted to €1,174.7 million compared to 961.8 million euro at 31 December 2024, after investments for Capex, M&A, repurchase of own shares and dividends for a total of more than 320 million euros, with financial lever at 30 September 2025 to 2,09x (from 1,63x). In the third trimester 2025 Consolidated revenues amounted to 563,3 million euros, up 2,4% to constant changes regarding the third trimester of 2024, with the organic return positive performance and in improvement of 250 basic points regarding the second trimester of 2025, despite the lower growth of the French market than the previous quarter, a growth of the global market still below historical levels and the strong comparative base.
Revenues decreased by 0.7% to current changes due to the significant impact of change. Adjusted EBITDA amounted to 107.3 million euros, with an impact on revenues equal to 19,1%, compared to 114,6 million euros recorded in the third quarter of 2024 due to the lower operating lever, the geographic mix of the EMEA area, the dilution deriving from the acceleration of the growth of the direct network of Miracle-Ear in the United States, of the major investments in marketing and of the unfavourable translative effect of the change. Net adjusted result equal to 19,2 million euros compared to 26,5 million euros in the third trimester of 2024 also for the greater amortisations resulting from the strong investments in the business and the increase of the financial burdens.
“In the third trimester we recorded a trend of significant improvement of revenues compared to the second trimester, with a return to organic growth compared to last year – comments the CEO of Amplifon Enrico Vita -. The performance was driven by a significant acceleration in Europe, also thanks to the improvement of Italy and Spain and despite a lower contribution of France than the previous quarter, as well as a growth in America higher than the reference market. These results were achieved in a market still below its historical growth rates and in the face of a particularly strong comparative base. We are accelerating the ‘Fit4Growth’ plan with initiatives that will help improve the Group’s performance structurally. The trend emerged in the quarter, along with the actions already started and the solidity of our business model, make us confident in our growth path in the short and medium term”.
-Photos press office Amplifon-
(ITALPRESS).
