Increase in revenues at constant exchange rates of approximately 109.3% compared to 2020 and 20% compared to 2019 for Amplifon. The hearing aid giant closed the second quarter with revenues more than doubling to 518.6 million. Recurring EBITDA for the quarter amounted to 136.1 million euros, up 104.9% compared to the second quarter of 2020 and 26.5% compared to the second quarter of 2019, with an incidence on revenues equal to 26 , 3%, an increase of 180 basis points compared to the same period of 2019 thanks to greater operational efficiency, even after significant investments in the business. Net income on a recurring basis amounted to € 55.3 million, more than seven times higher than the € 7.4 million
in the second quarter of 2020 and up by 36.3% compared to € 40.6 million in the same period of 2019.
All numbers beyond the consensus expectations which stood at 498.9 million for revenues, 129.2 million for EBITDA and 48.9 million for profit.
Considering the first half of the year, consolidated revenues amounted to 959.5 million euros, up 58% at constant exchange rates and 56.3% at current exchange rates compared to the first half of 2020. The net profit on a recurring basis is equal to 80.3 million euros, more than six times higher than the 12.6 million euros of the first half of 2020 and up by 35.3% compared to the 59.4 million euros of the same period of 2019.
The 2021 guidance has been raised thanks to a greater contribution from organic growth. Amplifon now expects consolidated revenues of approximately € 1.93 billion for 2021 and an ebitda margin to rise to approximately 24.8% on a recurring basis, after significant investments in the business.
On 13 September Amplifon will hold its Capital Markets Day in virtual mode.
Negative reaction of the stock which sells 2.66% below the 40 euro area.