Audika: careful scholarship

Niche. Audika work on a niche that appears conducive to growth over time. The market for hearing aids is progressing in fact an average of more than 5% per year with a number of positive factors. Changing demographics is in favour with the advent of the progressive generation "baby boom" at the age of 60, while technological change makes more discreet presence of these corrective hearing. France remains in fact one of the least equipped markets in Europe. The psychological barrier is indeed very important because between 5 and 10% of seniors are fitted, while 2 / 3 of them said they did not hear perfectly! This niche is dominated by independents, which leaves enough room for a group must be on a European scale.

Key figures. The company's accounts show a steady advance billings. The acquisitions program implemented in the park gate France over 350 centres in late 2007. The medium-term objective within the hexagon remains stalled over 500 centres. The model is now well established and can recover quickly in terms of standards of profitability of the group these acquisitions. Setting up in Italy should be in this regard a major sources of growth as the rate of departure in the peninsula remains low. In 2007, the increase in revenues reached 17.2%, including 10% organic growth. The operating margin is not yet known but is expected to emerge at least equal to that of the first half, making a very comfortable level of 18% ...

Potential proved. The current downward trend on the average values offers an opportunity to be seen on beautiful records that came back to reasonable levels. We have not discussed the case Audika for some time when it seemed that the recovery had become a little too high on the stock market, even if the quality of the company are indisputable. The arrival of a shareholder in the financial holding control Tonnard 2 brothers may suggest a change of shareholder of reference is not impossible in the future. You may wish to put down on the action Audika, preferably for the medium term.