Q1 revenue 573.1 mln eur, up 6.1% (Il Sole 24 Ore Radiocor) - Milan, 06 May - The Italian hearing aid retailer Amplifon said that in the first quarter net profit rose 2% to 35.7 million euros as revenue grew 6.1% to 573.1 million euros.

At constant exchange rates, the top line rose 6.1%. Organic growth was 5.6%.

On a recurring basis, EBITDA increased 10.7% to 136.8 million euros and the net profit grew 2.2% to 35.7 million.

Free cash flow stood at 37.2 million euros, down from 46.3 million a year earlier.

Net debt increased to 883.3 million euros from 852.1 million at the end of December 31.

Amplifon confirmed its full-year guidance thanks to "excellent first quarter results and a strong April." It expects revenue to grow high-single-digit at constant exchange rates, supported by market share gains and bolt-on acquisitions, the latter contributing to revenue growth for at least 2%.

It predicts a recurring EBITDA margin above 24.6%.

In the medium-term the company remains "extremely positive on its prospects for sustainable growth in sales and profitability, thanks to the secular fundamentals of the hearing care market and its further strengthened competitive positioning.".

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(RADIOCOR) 06-05-24 18:32:42 (0591) 5 NNNN