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Italian hearing aid maker Amplifon expects higher 2023 earnings

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Italian hearing aid maker Amplifon expects higher 2023 earnings

(Reuters) – Italian hearing aid maker Amplifon said on Tuesday it expects core profits to continue growing in 2023 thanks to operating leverage and higher pricing that should offset rising labour costs.

The company forecasts recurring earnings before interest, taxes, depreciation and amortization (EBIDTA) in the range of 570-585 million euros, up from 525 million euros ($575.19 million) in 2022, and revenues at 2.30-2.35 billion euros from 2.12 billion euros last year.

Amplifon reported on Tuesday a year-on-year increase of 9.5% on its first-quarter EBITDA to 123.5 million euros, and of 9.3% in first-quarter revenues to 540.3 million euros.

($1 = 0.9127 euros)


(Reporting by Alessandro Parodi, editing by Alvise Armellini)