Italy’s Amplifon confirms 2022 guidance

(Reuters) – Italian hearing aid maker Amplifon confirmed its 2022 guidance on Tuesday, flagging that the outlook does not include any significant negative economic impact that may result from the war in Ukraine.

The group noted that it has no direct business activities in Ukraine or in Russia, adding that the forecast assumes that no other major changes in global economy will occur following Russia’s invasion of Ukraine.

The world’s largest retailer of hearing aids posted a 17.4% rise in core earnings in the first quarter of the year, supported by a positive performance across all the markets.

Earnings before interest, taxes, depreciation and amortization (EBITDA) for the Milan-based company came in at 109.8 million euros ($115.3 million).

($1 = 0.9524 euros)

(Reporting by Agnese Stracquadanio; Editing by Keith Weir)