Annual Report - Sonova Holding AG
Annual Report - Sonova Holding AG Annual Report - Sonova Holding AG
MARKETS General market development The estimated global hearing instrument market growth in 2005/06 was 5%–7%, of which 1%–2% stemmed from increases in average selling prices. Sales prices were increasing due to a strong high-end segment, which is driven by innovation, and a dynamic low-end segment, driven by the replacement of analog products by digital products. All key markets grew more or less in line with the above mentioned average market growth rate. Group sales by product type Both brands of hearing instruments, Phonak and Unitron Hearing, contributed to the expansion of sales. Behind-the-Ear (BTE) products remained very strong, supported by the new micro hearing systems for open fitting. In addition, wireless communication systems again delivered consistently high growth, demonstrating their solid market position. Group sales by geographic region The Phonak Group continued to increase its global market share as sales developed favorably in all key markets. The United States and the biggest Western European markets made the largest contribution to our growth. We also made progress in building up our market positions in Japan and China, even though our operations in these countries have not been established for very long and business volumes are still comparatively modest. Latest developments Thanks to our stronger sales organizations, intensified marketing efforts and excellent product offerings, the Phonak Group once again managed to attract many new clients and significantly expand its customer base. In 2005/06, sales to key accounts increased further as a result of closer cooperation with these industry players. We continued to ramp up our retail presence in China, a potentially huge market. Our purchase of a controlling interest in CAS Produtos Médicos Ltda., the Brazilian market leader in hearing instrument distribution, as well as a number of smaller acquisitions, significantly extended the geographic reach of our global sales network, as planned. Outlook The Phonak Group expects to outgrow the hearing instrument market once again, due to: - having a comprehensive product range, which is continuously rejuvenated - providing superior, innovative and easy-to-use products - extending its support and service offering - expanding its distribution channels In 2006/07, we intend to further strengthen our sales organizations and expand our distribution network in Eastern Europe, Latin America, India, and Asia especially. Markets 9
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- Page 1 and 2: Annual Report 2005/06 Annual Report
- Page 3 and 4: FIVE-YEAR KEY FIGURES (Consolidated
- Page 5 and 6: CHAIRMAN’S FOREWORD In 2005/06, t
- Page 7: Move with the melody
- Page 10 and 11: digital entry-level product line, w
- Page 15 and 16: NEW TECHNOLOGIES AND PRODUCTS Platf
- Page 17 and 18: OPERATIONS AND STAFF Operations Wit
- Page 19: Listen to life
- Page 22 and 23: This report describes the principle
- Page 24 and 25: Capital Structure Changes in capita
- Page 26 and 27: Left to right: Robert F. Spoerry, D
- Page 28 and 29: Andy Rihs (born in 1942) has been C
- Page 30 and 31: Dr. Valentin Chapero Rueda (born in
- Page 32 and 33: Share and option ownership of membe
- Page 34 and 35: Highest total compensation The high
- Page 36 and 37: Investor Relations Calendar July 6,
- Page 39 and 40: SUSTAINABILITY Phonak’s managemen
- Page 41 and 42: Our customers buy a better quality
- Page 43 and 44: Corporate Governance Phonak’s Boa
- Page 45: Push your performance
- Page 49 and 50: Consolidated Income Statement 1,000
- Page 51 and 52: Consolidated Statement of Cash Flow
- Page 53 and 54: Notes to the Consolidated Financial
- Page 55 and 56: equity method, the investment in an
- Page 57 and 58: Short-term debts Short-term debts c
- Page 59 and 60: Employee benefit plans Phonak has v
- Page 61 and 62: 5. Segment information Profit or lo
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