Amplifon stock draws focus as third-quarter margins expand
Published on 11/06/2026 at 10:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAmplifon's profitability improves
- Third-quarter organic growth remained strong despite the year's highest comparison base.
- Fit4Growth and operating leverage supported higher adjusted EBITDA and EBIT margins.
- Management kept its 2026 outlook and said GN Hearing integration planning was progressing on schedule.
Amplifon reported stronger profitability in the third quarter of 2026, while organic growth remained positive against a demanding comparison base. The company published the results on Thursday, October 29, 2026, in its Q3 2026 results release.
Amplifon stock traded at 12.18 euros on Lang & Schwarz at 10:39 CET on Friday, November 6, 2026.
Third-quarter margins move higher
Third-quarter revenue reached 575.0 million euros, an increase of 2.1 percent from the prior-year period. Organic growth was 3.6 percent, even though the quarter faced the highest comparison base of the year. Growth was balanced across the company's geographic areas.
Adjusted EBITDA rose 7.0 percent to 114.8 million euros, lifting the margin by 90 basis points to 20.0 percent. Adjusted EBIT increased 21.9 percent to 52.2 million euros, while the adjusted EBIT margin widened by 150 basis points to 9.1 percent. Adjusted net profit advanced 38.7 percent to 26.6 million euros.
The margin performance reflects operating leverage and the benefits of Amplifon's Fit4Growth program. The program includes network optimization, the divestment or termination of dilutive businesses and the closure of non-performing clinics. These actions restrained reported revenue growth but supported the company's profitability profile.
Nine-month cash generation strengthens
For the first nine months of 2026, revenue reached 1.7608 billion euros, up 0.9 percent at constant exchange rates. Organic growth was 3.5 percent, while adjusted EBITDA rose 4.5 percent to 412.8 million euros and the margin reached 23.4 percent, 80 basis points above the prior-year period.
Adjusted EBIT increased 11.5 percent to 222.0 million euros, with the margin expanding to 12.6 percent. Adjusted net profit rose 16.9 percent to 128.2 million euros. Adjusted free cash flow increased 138.6 percent to 79.1 million euros after capital expenditure of 64.3 million euros.
Pro forma net financial debt stood at 1.0528 billion euros at September 30, 2026, excluding the proceeds from the May equity raise intended to help finance the GN Hearing acquisition. Financial leverage improved to 1.85 times.
Outlook and GN Hearing planning
Amplifon confirmed its 2026 outlook for organic growth above 3 percent and an increase in the adjusted EBITDA margin in the region of 100 basis points. CEO Enrico Vita said the first nine months confirmed the effectiveness of the company's initiatives and investments to strengthen its competitive position and support future growth.
Management also said planning for the integration of GN Hearing was progressing according to schedule, with the aim of being prepared when the acquisition closes. The transaction remains an important strategic factor for investors because it would combine Amplifon's hearing-care network with GN Hearing's hearing-technology activities.
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More news and analyses on Amplifon stock cover the company's earnings, outlook and GN Hearing transaction.
Amplifon company facts
- Company: Amplifon S.p.A.
- ISIN: IT0004056880
- Ticker: AMP.MI
- Home exchange: Milan Stock Exchange
- Sector: Healthcare
- CEO: Enrico Vita
- Lang & Schwarz price: 12.18 euros at 10:39 CET on November 6, 2026
