Q2 2025 Amplifon SpA Earnings Call Transcript
Key Points
- Amplifon SpA (AMFPF) anticipates a gradual improvement in market conditions in the second half of the year, particularly in Europe and the US.
- The company has launched the Fit4Growth program aimed at structurally enhancing profitability, targeting a run rate improvement of 150 to 200 basis points in adjusted EBITDA margin by 2027.
- M&A activity contributed positively with a 2.3% growth, particularly in France, Germany, Poland, the US, and China.
- Amplifon SpA (AMFPF) expects the US private market to continue its steady recovery, supported by a more favorable comparison base.
- The European market is set for a progressive improvement, driven by strong anticipated growth in France and continued solid performance in Germany.
- Sales growth was only 0.6% at constant exchange rates, with a negative impact of minus 2.5% due to euro appreciation.
- Organic growth performance was negative at minus 1.7%, mainly driven by EMEA's minus 2.5% organic performance.
- Adjusted EBITDA margin decreased by 180 basis points year-over-year, primarily due to lower operating leverage and unfavorable geographic mix.
- The Southern European markets were negatively affected by the anniversary of the strict COVID lockdowns in 2020, impacting the customer base.
- The Chinese market continued to show subdued trends, and the Australian market also experienced a negative trend.
Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Amplifon Second Quarter and First Half 2025 Results Conference Call. (Operator Instructions) At this time, I would like to turn the conference 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 Second Quarter and First Half 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 the 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 CEO,
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