Forecast

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Hold	1
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Weak GN numbers weigh on Amplifon share price

Amplifon’s stock falls around 4.5% to €11.66 after GN Store Nord reported weak Q2 figures and cut its full-year outlook for organic sales growth. Within GN Hearing organic sales fell 2% and EBITDA dropped 25%, Jefferies says, due to a tough comparison base and lower volumes with a US customer. The ongoing integration of GN Hearing and the Fit4Growth restructuring programme are weighing on near-term sentiment, although Amplifon had recently reported strong H1 results. » More on de.investing.com
Amplifon rises after strong quarterly results

Amplifon reported accelerated organic revenue growth of 4.7% in Q2 and an adjusted net profit up 17.1%. Reported revenue was €606m but was weighed down by the Fit4Growth program (around -3.5%). Adjusted EBITDA rose to €156.2m (+6.1%) with a margin of 25.8% (+90 bp); adjusted free cash flow for H1 grew 70% to €68m. Management confirmed the full-year guidance (organic growth >3%), after which the share jumped sharply (about +7.7% to €12.09). » More on de.investing.com
Citi upgrades Amplifon and sets 12-month price target of €16.50

Citi Research raises Amplifon from "Neutral" to "Buy", citing a recovery in global hearing-aid demand, near-term margin expansions and the earnings potential of the GN Hearing takeover as drivers. The bank expects adjusted EBITDA for Q2 of about €159m (5–6% above consensus) and forecasts EBITDA of €575m for 2026 versus consensus €563m. Citi projects that the GN integration could boost EPS by roughly 15% by 2029 starting from 2027, but also notes integration risks and derives its price target using a 2028 EV/EBITDA of 9.5. Amplifon is trading at a significantly lower EV/EBITDA for 2027/2028 than peers, which Citi says justifies a discount due to a high retail share and integration risk. » More on de.investing.com

Historical dividends Dividends

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In 2026, Amplifon has already paid 0,29€ in dividends. The last payout was in May.

Financials

In the last quarter, Amplifon had revenue of 605.08m€ and net profit of 38.50m€

(EUR)	Jun 2026	YoY
Revenue	+605.08m	2,09%
Gross profit	+67.59m	53,80%
Net profit	+38.50m	9,25%
EBITDA	+143.85m	0,23%

Fundamentals

Metric	Value
Market capitalization	+2.55b€
Number of shares	265.25m
52-week high/low	+15,74€ - +8,12€
Dividend yield	+2,42%
Dividends TTM	+0,29€
Beta	0,97
P/E ratio	+41,24
PEG ratio	−0,86
P/B ratio	+2,16
P/S ratio	+1,10

Company profile

Amplifon S.p.A. vertreibt Hörgeräte und Dienstleistungen, die den Menschen helfen, die verschiedenen Emotionen des Klangs wiederzuentdecken. Das Unternehmen bietet die Hörgeräte ampli-easy, ampli-mini, ampli-connect und ampli-energy an. Es bietet auch die Anpassung von kundenspezifischen Produkten an. Am 18. März 2022 verfügte das Unternehmen über ein Netz von rund 9.200 Verkaufsstellen in 25 Ländern und auf 5 Kontinenten. Das Unternehmen vertreibt seine Produkte auch über 1.350 Franchisenehmer. Es ist in Europa, im Nahen Osten, in Afrika, in den Vereinigten Staaten, in Asien und in Ozeanien tätig. Das Unternehmen wurde 1950 gegründet und hat seinen Hauptsitz in Mailand, Italien.

Name	Amplifon
CEO	Enrico Vita
Headquarters	Milan, mi Italy
Website	corporate.amplifon.com
Sector	Health Care
Industry	Health Care Equipment & Supplies
IPO	10/01/2001
Employees	15.078