Strategic sale of the italian centres network

AUDIKA

STRATEGIC SALE OF THE ITALIAN CENTRES NETWORK

Today, the Audika Group announced that it has signed a firm agreement to sell its Italian network of 55 specialised hearing aid centres to Amplifon, the Italian Group that is the global market leader.

The transaction became effective on 1 April 2014. The total value of the transaction is around €7.1 million.

Continuing Audika's expansion in Italy and achieving critical mass would have required substantial financial resources in a local market that is characterised by a complex environment.

Furthermore, this transaction enables the Audika Group to eliminate a source of recurring operating losses, which have amounted to around €1 million per year since the outset, compared with revenues of €7.5 million in 2013.

The choice of Amplifon is in keeping with Audika's determination to ensure that all its teams are covered by a sound business plan, and that the quality of service offered to its customers continues.

Strong growth ambitions in France

Audika has therefore taken the strategic decision to focus all its means and financial resources on returning to organic growth, and developing its network and market share in France and French-speaking Belgium.

The Group has set itself a medium-term target of 700 centres in France, compared with 460 centres today, via start-ups and acquisitions. The Group will therefore reinforce its domestic coverage in a market with lasting potential, which will benefit from the older members of the “baby boomer” generation reaching the average age when people are fitted with their first hearing aid as from 2015.

The Audika Group intends to be the first to benefit from the expected acceleration in the market, primarily by relying on its experience of over 35 years in the hearing aid sector, and on its recognised and innovative marketing expertise, combined with the strength of the Audika brand, which is the undisputed market leader in France.

The Audika Group will release its second quarter 2014 revenues on 21 July 2014 after the Stock Market close.

About Audika:

With more than 460 centers in 91 different regions, Audika is the number one network offering hearing correction consulting and solutions in France. The Group has been present in Belgium since 2013 (four centers). Positioned on the market for hearing correction solutions for senior citizens, Audika aims to consolidate its leadership in a sector that remains very highly fragmented. Audika is listed on Euronext Paris, Segment C.

If you would like to receive free financial information on Audika by e-mail, go to: www.actusnews.com

ISIN FR0000063752-ADI Reuters DIKA.PA Bloomberg ADI:FP

 

Number of shares: 9,450,000

 

 Audika contact: Alain Tonnard / Etienne Sirand-Pugnet at +33 (0) 1 55 37 30 30

Actus Finance contact: Guillaume Le Floch at +33 (0) 1 72 74 82 25

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Quelle: Actusnews