Sonova Holding Ag · SIX:SOON
Sonova — Investor Day (March 2026)
36 slides from Sonova's investor day presentation, Mar 23, 2026
Slide 1: Sonova - a 6 billion revenue ambition
Leadership expanded: Sonova - a 6 billion revenue ambition March 23, 2026
Slide 2: Disclaimer
This presentation contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to ri
Slide 3: Agenda
Agenda 1. Introduction Eric Bernard, CEO 2. Strategy update Eric Bernard, CEO | Anders Rosengren, GVP R&D | Roberto di Fiore, COO Elodie Carr-Cingari, CFO 3. Conclusion Eric Bernard, CEO 4. Q&A 3
Slide 4: 1. Introduction
1. Introduction
Slide 5: Observations from the first months
Observations from the first 6 months: Position of strength, with clear upsides Purpose-driven Market Clear upsides from: motivated team leadership • Solutions beyond RICs • In Asia Business goals well-aligned with our Strong positions in US and EU vision to expand access to hearing care • Synergies
Slide 6: Recent highlights
Recent highlights Market position Virto R Awards • Strong launches – Success of Infinio Sphere, Virto-R, Infinio Ultra >130m and EasyGuard annualized sales (in CHF, based on Sep-Feb) • Outperforming the market – Over the past 12 months in our core activities >12 %-pts. ITE market share gain • VA Mar
Slide 7: Market structural growth is preserved for the next decade
Market structural growth is preserved for the next decade Demographic Higher Stable Penetration tailwind longevity prevalence upside Aging populations sustain Longer treatment horizons Underlying need Low adoption globally unit growth lift cumulative value per unchanged with headroom across consumer
Slide 8: Growing need for hearing care solutions across regions
Growing need for hearing care solutions across regions Projection of global population aged 65+ Hearing aid adoption by geography and severity Million individuals North America & Other Western Europe markets1 1’169 2015-25 2025-35 857 Absolute growth Severe 67% 10% 617 837 +240 +312 570 Moderate 44%
Slide 9: 2. Strategy update
2. Strategy update
Slide 10: Sharpening focus by divesting Consumer Hearing
Sharpening focus by divesting Consumer Hearing Rationale for Background Next: the decision • In 2022, Sonova acquired • Consumer Hearing Business strengths are in Structured process to find a fit-for- Sennheiser’s Consumer Division audiophile, premium headphones and sound purpose ownership to explor
Slide 11: A CHF 6 billion revenue ambition
A CHF 6 billion revenue ambition Powered by Innovate for Multi-channel, Excel in adoption multi-brand operations Strategic • Design beyond RIC • Country-by-country • Elevate service and customer priorities • AI & digitalization beyond • Unlocking Wholesale – Retail experience as a differentiator pro
Slide 12: Leadership in place for the next chapter
Leadership in place for the next chapter International team balancing decades of industry expertise with fresh perspectives Selected Executive Committee members CEO | E. Bernard CFO CHRO R&D COO E. Carr-Cingari K. Kruglova A. Rosengren R. di Fiore Group Strategy CMO VP Retail Excellence TBH CDO B. C
Slide 13: Anders Rosengren
Anders Rosengren Group Vice President, R&D 13
Slide 14: Shaping the industry through customer-led and research-driven innovation
Shaping the industry through customer-led and research-driven innovation Leading Functionality Next wave audiological research Sphere innovation Direct speech extraction with proprietary DNN chip through real-time AI. More compact form 26 factors with real-time AI Study publications in FY25/26 Desig
Slide 15: Hearing care fosters healthy living – backed by years of scientific engagement
Hearing care fosters healthy living – backed by years of scientific engagement Selected results from recent pioneering studies using Infinio and Sphere Quality of life Positive impact on social participation with Sphere: Less fatigue and higher social engagement. (pioneering research, published in 2
Slide 16: Sustainable AI leadership built on superior data, audiological excellence and full-stack integration
Sustainable AI leadership built on superior data, audiological excellence and full-stack integration Sonova AI technology stack • End-to-end ownership of the full technology DSP Proprietary Data pipeline stack provides complete integration, control DNN chip & training and a sustainable leadership po
Slide 17: Driving adoption by bridging audiology and lifestyle
Driving adoption by bridging audiology and lifestyle Expand design beyond RIC – Toward lifestyle, healthy-aging & connected platforms. Design-first, user-first Healthy-aging philosophy focus Institutionalize design & UX early in Develop solutions that improve development for discreet, desirable, com
Slide 18: Eric Bernard
Eric Bernard CEO sonova
Slide 19: Multi-stage approach to win in Asia
Multi-stage approach to win in Asia Clear share upside Attractive fundamentals Upside potential Sonova market share Europe North America Asia Phased growth strategy for Asia 1 Leverage and scale existing portfolio for affluent segments in Asia Resource 2 deployment Develop and market “made for Asia”
Slide 20: Wholesale multi-brand playbook deployed country-by-country
Wholesale multi-brand playbook deployed country-by-country Channel mix varies widely across countries Illustrative Illustrative US FR UK CN Brand A Independents Large retailers & Multinationals Government/VA Brand B Channels prioritize different value drivers Illustrative Brand C Independent Large r
Slide 21: Unlock “Wholesale – Retail” synergies
Unlock “Wholesale – Retail” synergies For Product Fitting R&D Retail Patient Innovation Faster product feedback loop Direct patient access through own retail Data & feedback For Example: Market activation Virto-R launch Optimized brand and product Coordinated launch presence campaigns across Global
Slide 22: Scaling retail network in strategic markets
Scaling retail network in strategic markets Geo-targeted expansion and optimization Scale matters Example: Germany Brand awareness Leverage fixed cost base >80% Aided brand awareness among 70+ years old (doubled Expanding retail beyond in the past 10 years) Stronger brand visibility bolt-ons through
Slide 23: Roberto di Fiore
Roberto di Fiore COO sonova
Slide 24: Elevate customer experience and service as a key differentiator
Elevate customer experience and service as a key differentiator Enhance Protect Build customer experience the value system for next-level efficiency Sustainable effectiveness • Drive customer • Strengthen site • Drive efficiency through COGS improvements proximity interoperability specialized sites
Slide 25: Four strategic levers to improve productivity
Four strategic levers to improve productivity Footprint Processes Automation Value engineering • Clear sites by mandate • End-to-end flows • After sales and order entry • Make-or-buy decision • Simplified logistics • Effective forecast-to- • Handling and sorting • (Re)design to cost demand-to-planni
Slide 26: Elodie Carr-Cingari
Elodie Carr-Cingari CFO sonova
Slide 27: Trading update – Continued share gains in Wholesale supporting growth in 2H
Trading update – Continued share gains in Wholesale supporting growth in 2H Wholesale Retail (Hearing Instruments) (Audiological Care) • Strong growth – well above • Continued organic growth market (vs. higher comparison) FY 2025/26 guidance • Momentum driven by • Limited contribution from M&A succe
Slide 28: Driving profitable growth – Mid-term targets
Driving profitable growth – Mid-term targets (excl. Consumer Hearing business) SALES CAGR (LC) 5% to 10% EBIT CAGR (LC) (Core*) 7% to 12% Underlying assumptions Growth drivers Margin execution levers • Gradual market recovery over the • Market share gains through • Operations excellence program cour
Slide 29: Multiple growth engines driving the path toward CHF 6bn sales ambition
Multiple growth engines driving the path toward CHF 6bn sales ambition Larger acquisitions & other strategic Share gains opportunities Sales Bolt-on M&A through innovation & geographic and greenfield Sales expansion 1-2% CHF 6bn ambition Market growth 1-3% CAGR (LC) 5% to 10% 3-5% Sales FY 25/26 Mid
Slide 30: Sales growth, productivity & efficiency initiatives driving Core EBIT expansion
Sales growth, productivity & efficiency initiatives driving Core EBIT expansion Operating leverage from Operations footprint growth and and supply chain innovation ~2-3% ~ -1-3% Core EBIT Sales growth ~1-2% Strategic investments CAGR (LC) (R&D, Operations, IT and digitalization) 7% to 12% 5-10% Core
Slide 31: Strengthening our natural hedge while maintaining Switzerland as core base
Strengthening our natural hedge while maintaining Switzerland as core base Sales currency mix Cost currency mix Cost currency mix mid-term target CHF Other CHF CHF <10% Other EUR ✓ Procurement currency optimization ✓ Strengthening natural hedge by better aligning EUR cost base with revenue currencie
Slide 32: Disciplined capital allocation supporting growth and shareholder returns
Disciplined capital allocation supporting growth and shareholder returns 1 Organic growth investments 2 Retail bolt-ons 3 Strategic M&A • Step-up R&D to accelerate roadmap Scaling store footprint: • Selective larger acquisitions • Invest >1% of sales in digital & IT initiative CHF 80-100m p.a. in st
Slide 33: Sonova – A growing, cash-generative business with attractive returns
Sonova – A growing, cash-generative business with attractive returns 2021–2025 Mid-term targets Financial track record Driving profitable growth Consistent sales growth High single-digit CAGR (LC) Sales CAGR (LC) >20% Clear capacity to fund 5% to 10% High profitability average Core EBIT margin our s
Slide 34: 3. Conclusion
3. Conclusion
Slide 35: To conclude
To conclude A clear ambition of reaching CHF 6 billion in revenues by FY 2030/31 Focus on hearing care Confidence from clear strategic direction, tech leadership, talents and financial strength 35
Slide 36: SOnOoVd
SOnOoVd HEAR THE WORLD