Sonova concludes share buyback program
OREANDA-NEWS. Sonova Holding AG, the world’s leading provider of hearing solutions, today announces the conclusion of its share buyback program, which was initiated on December 1, 2014. During the buyback program, Sonova repurchased a total of 1,842,400 registered shares (equivalent to 2.74% of the share capital as per the beginning of the buyback program) for a total amount of CHF 241.0 million at an average purchase price of CHF 130.81 per share. The registered shares were repurchased on SIX Swiss Exchange on a second trading line. Sonova has cancelled all 1,842,400 registered shares repurchased on the second trading line during the last 3 years. Today’s announcement is pursuant to applicable regulation of the Swiss Takeover Board. The share buyback program was suspended following the announcement of the acquisition of AudioNova on May 4, 2016.
Sonova, headquartered in Stafa, Switzerland, is the leading provider of innovative hearing care solutions. The Group operates through its core business brands Phonak, Unitron, Hansaton, Advanced Bionics and AudioNova. Sonova offers its customers one of the most comprehensive product portfolios in the industry – from hearing instruments to cochlear implants to wireless communication solutions.
Pursuing a unique vertically integrated business strategy, the Group operates through three core businesses – hearing instruments, retail and cochlear implants – along the entire value chain of the hearing care market. The Group’s sales and distribution network, the widest in the industry, comprises over 50 own wholesale companies and more than 100 independent distributors. This is complemented by Sonova’s retail business, which offers professional audiological services through a network of more than 3,300 locations in twelve key markets.
Founded in 1947, the Group has a workforce of over 14,000 dedicated employees and generated sales of CHF 2.4 billion in the financial year 2016/17 as well as a net profit of CHF 356 million. Across all businesses, and by supporting the Hear the World Foundation, Sonova pursues its vision of a world where everyone enjoys the delight of hearing and therefore lives a life without limitations.