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Italian hearing aid maker Amplifon expects higher 2023 earnings
Global Banking & Finance Review®
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(Reuters) – Italian hearing aid maker Amplifon said on Tuesday it expects core profits to continue growing in 2023 thanks to operating leverage and higher pricing that should offset rising labour costs.
(Reuters) – Italian hearing aid maker Amplifon said on Tuesday it expects core profits to continue growing in 2023 thanks to operating leverage and higher pricing that should offset rising labour costs.
The company forecasts recurring earnings before interest, taxes, depreciation and amortization (EBIDTA) in the range of 570-585 million euros, up from 525 million euros ($575.19 million) in 2022, and revenues at 2.30-2.35 billion euros from 2.12 billion euros last year.
Amplifon reported on Tuesday a year-on-year increase of 9.5% on its first-quarter EBITDA to 123.5 million euros, and of 9.3% in first-quarter revenues to 540.3 million euros.
($1 = 0.9127 euros)
(Reporting by Alessandro Parodi, editing by Alvise Armellini)
EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure of a company's overall financial performance and profitability.
Operating leverage refers to the proportion of fixed costs in a company's cost structure. A company with high operating leverage can increase its profits more significantly as sales increase.
Core profits refer to the earnings generated from a company's primary business operations, excluding any income from non-core activities or one-time events.
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