In This Article:
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Revenue Growth: Increased by 2.6% at constant exchange rates.
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Organic Growth: Flat due to fewer trading days and a strong prior year comparison.
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M&A Contribution: 2.6% with approximately 200 new points of sales added.
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Adjusted EBITDA: 140.4 million with a margin of 23.9%, up 20 basis points from the previous year.
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Net Profit Adjusted: Approximately 42 million with a margin of 7.1%.
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Free Cash Flow: Around 18 million.
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Net Financial Position: Ended at 996 million.
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Net Debt/EBITDA Ratio: 1.67 times, stable versus December last year.
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Store Network Expansion: Over 400 locations in the US after recent acquisitions.
Release Date: May 06, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Amplifon SpA (AMFPF) reported a 2.6% increase in revenues at constant exchange rates, despite fewer trading days and a strong comparison base from the previous year.
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The company achieved its highest ever first-quarter margin, with a 20 basis points increase compared to 2024.
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Amplifon SpA (AMFPF) expanded its network significantly, adding approximately 200 new points of sale, including a major acquisition in the US.
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The company outperformed the market in most key countries, demonstrating resilience and strength in its retail business model.
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The European market is expected to accelerate in the coming quarters, driven by strong growth projections in France and favorable year-over-year comparisons.
Negative Points
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The US market experienced a mid-single-digit decline, impacted by high comparison bases and adverse weather conditions.
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Organic growth was flat due to fewer trading days and a strong prior-year quarter, impacting overall performance.
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The APEC markets were slightly negative, with challenges in China and New Zealand affecting performance.
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Net financial expenses increased due to higher net financial positions and lease liabilities following strong M&A activity.
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The company faces uncertainties in the US market, with expectations of improvement but no clear forecast for growth.
Q & A Highlights
Q: Can you quantify the momentum in France and provide insights into the US market trends for the remainder of 2025? A: Enrico Vita, CEO, stated that the trial activation trend in France supports a mid-teens growth assumption. In the US, improvement is expected in the coming quarters due to better weather conditions and a more favorable comparison base. March showed improvement over January and February, and the market is expected to return to positive territory.