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    SOON   CH0012549785

SONOVA HOLDING AG

(SOON)
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Update on expected closing of Sennheiser Consumer Division acquisition

10/19/2021 | 01:02am EST

EQS Group-Ad-hoc: Sonova Holding AG / Key word(s): Statement Update on expected closing of Sennheiser Consumer Division acquisition 19-Oct-2021 / 07:01 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement.

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Ad hoc announcement pursuant to Art. 53 LR

Stäfa (Switzerland), October 19, 2021 - Sonova Holding AG, a leading provider of hearing solutions, today announced that it expects to close the planned acquisition of the Consumer Division from Sennheiser electronic GmbH & Co. KG (Sennheiser) before the end of financial year 2021/22. The closing had previously been expected before the end of calendar year 2021. The postponement is related to final operative tasks within the carve-out project - for example the migration of IT systems - which need more time than originally expected. Sonova and Sennheiser have made significant progress towards a successful closing in recent months and remain fully committed to successfully conclude the transaction. The regulatory approvals in all relevant jurisdictions have been received. The planned acquisition of the Sennheiser Consumer Division has not been included in the guidance for financial year 2021/22.

- End -

Contacts:

Investor Relations

Thomas Bernhardsgrütter Phone +41 58 928 33 44 Mobile +41 79 618 28 07 Email thomas.bernhardsgruetter@sonova.com

Media Relations

Patrick Lehn Phone +41 58 928 33 23 Mobile +41 79 410 82 84 Email patrick.lehn@sonova.com

Disclaimer This Media Release 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 risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside Sonova's control. Should one or more of these risks or un-certainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sonova undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

About Sonova Sonova, headquartered in Stäfa, Switzerland, is a leading provider of innovative hearing care solutions. The Group operates through its core business brands Phonak, Unitron, Hansaton, Advanced Bionics and the brands of the Audiological Care business, e.g. AudioNova, Geers, Boots Hearing Care, Connect Hearing and Lapperre. Sonova offers its customers one of the most comprehensive product portfolios in the industry - from hearing instruments to cochlear implants to wireless communication solutions.

Pursuing a unique vertically integrated business strategy, the Group operates through three core businesses - Hearing Instruments, Audiological Care and Cochlear Implants - along the entire value chain of the hearing care market. The Group's sales and distribution network, the widest in the industry, comprises over 50 own wholesale companies and more than 100 independent distributors. This is complemented by Sonova's Audiological Care business, which offers professional audiological services through a network of around 3,200 locations in 20 key markets.

Founded in 1947, the Group has a workforce of over 14,000 dedicated employees and generated sales of CHF 2.6 billion in the financial year 2020/21 as well as a net profit of CHF 585 million. Across all businesses, and by supporting the Hear the World Foundation, Sonova pursues its vision of a world where everyone enjoys the delight of hearing and therefore lives a life without limitations.

For more information please visit www.sonova.com and www.hear-the-world.com.

Sonova shares (ticker symbol: SOON, Security no: 1254978, ISIN: CH0012549785) have been listed on the SIX Swiss Exchange since 1994. The securities of Sonova have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the 'U.S. Securities Act'), or under the applicable securities laws of any state of the United States of America, and may not be offered or sold in the United States of America except pursuant to an exemption from the registration requirements under the U.S. Securities Act and in compliance with applicable state securities laws, or outside the United States of America to non-U.S. Persons in reliance on Regulation S under the U.S. Securities Act.

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End of ad hoc announcement

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Language:     English 
Company:      Sonova Holding AG 
              Laubisrütistrasse 28 
              8712 Stäfa 
              Switzerland 
Phone:        +41 58 928 33 33 
E-mail:       ir@sonova.com 
Internet:     www.sonova.com 
ISIN:         CH0012549785 
Valor:        12549785 
Listed:       SIX Swiss Exchange 
EQS News ID:  1241670 
 
End of Announcement EQS Group News Service 
=------------ 

1241670 19-Oct-2021 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1241670&application_name=news

(END) Dow Jones Newswires

October 19, 2021 01:01 ET (05:01 GMT)

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Sales 2022 3 285 M 3 552 M 3 552 M
Net income 2022 654 M 707 M 707 M
Net Debt 2022 403 M 436 M 436 M
P/E ratio 2022 32,7x
Yield 2022 1,12%
Capitalization 21 579 M 23 380 M 23 333 M
EV / Sales 2022 6,69x
EV / Sales 2023 6,02x
Nbr of Employees 14 922
Free-Float 84,6%
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Number of Analysts 18
Last Close Price 346,30 CHF
Average target price 362,53 CHF
Spread / Average Target 4,69%
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Arnd Kaldowski Chief Executive Officer
Birgit Conix Chief Financial Officer
Robert F. Spoerry Non-Executive Chairman-Supervisory Board
Andi Vonlanthen Group Vice President-Research & Development
Ludger Althoff Group Vice President-Operations
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