Q4 2025 Amplifon SpA Earnings Call Transcript
Key Points
- Amplifon SpA (AMFPF) outperformed the market in key countries such as Italy, the United States, Australia, and France during Q4 2025.
- The company returned to positive organic growth across all three regions in Q4 2025.
- The Fit4Growth plan is progressing well, targeting an adjusted EBITDA margin improvement of 150 to 200 basis points by 2027.
- Amplifon SpA (AMFPF) achieved a significant EUR30 million reduction in CapEx in 2025 compared to 2024.
- The company completed the divestiture of its loss-making business in the UK, which is expected to positively contribute to the group's EBITDA margin.
- Market growth in 2025 was below historical averages, primarily due to geopolitical and macroeconomic factors affecting consumer confidence.
- The US market experienced significant challenges, particularly in the managed care channel, due to reduced hearing benefits from major insurance providers.
- Foreign exchange was a significant headwind, impacting sales growth by more than 3% in Q4 2025.
- Adjusted EBITDA margin decreased by 90 basis points in 2025 due to lower operating leverage and higher marketing investments.
- The company faced a significant FX headwind of minus 2.3% for the full year 2025, affecting overall revenue growth.
Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Amplifon fourth quarter and full year 2025 results conference call. (Operator Instructions) At this time, I would like to turn the conference over to Ms. Francesca Rambaudi, Investor Relations and Sustainability Senior Director of Amplifon. Please go ahead, Madam.
Thank you. Good afternoon, and welcome to Amplifon's conference call on fourth quarter and full year 2025 results. Before we start, a few logistic comments. Earlier, we issued a press release related to our results, and this presentation is posted on our website in the Investors section. The call can be accessed also via webcast and dial-in details are on Amplifon's website as well as on our press release. I have to bring your attention to the disclaimer on Slide 2, as some of the statements made during this call may be considered forward-looking statements.
With that, I'm now pleased to turn the call over to Amplifon's CEO, Enrico
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