May 19, 2020 / 5:48 AM / 10 days ago

Hearing aid maker Sonova's full-year profit tops estimates

May 19 (Reuters) - Swiss hearing aid maker Sonova reported a better-than-expected annual core earnings on Tuesday, citing success from a raft of measures taken to address the coronavirus crisis.

The world’s biggest hearing aid maker company said it adopted a proactive approach when the pandemic hit and adopted reduced work hours, cost-cutting measures and were also tapping further sources of liquidity.

Full-year earnings before interest, tax and amortisation (EBITA) came in at 620.8 million Swiss francs ($638.68 million), against consensus expectations of 609.7 million francs.

The Swiss company did not provide an outlook for 2020/2021, saying it is clearly too early to assess with any certainty the impact of the COVID-19 crisis.

$1 = 0.9720 Swiss francs Reporting by Zuzanna Szymanska in Gdansk, Editing by Sherry Jacob-Phillips

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