Brief: Cochlear Sees FY24 Underlying Net Profit Between A$355 Mln And A$375 Mln

Cochlear

14/08/2023 22:35

Aug 15 (Reuters) - Cochlear Ltd  COH.AX :
    * FY24 UNDERLYING NET PROFIT GUIDANCE RANGE IS A$355-A$375M
    * COCHLEAR IMPLANT TRADING CONDITIONS CONTINUE TO BE STRONG
ACROSS
MOST MARKETS
    * EXPECT SOLID MARKET GROWTH RATES TO DRIVE HIGH SINGLE
DIGIT
GROWTH IN OUR COCHLEAR IMPLANT UNITS FOR FY24
    * SERVICES SEGMENT IS EXPECTED TO PERFORM STRONGLY WITH
CONTINUING
STRONG DEMAND FOR UPGRADES TO NUCLEUS 8 SOUND PROCESSOR
    * CLOUD COMPUTING-RELATED INVESTMENT IS EXPECTED TO BE
AROUND A$34
MILLION IN FY24
    * EXPECT IMPLANT UNIT MARKET SHARE GAINS FROM FY23 TO
STABILISE
AND FOR THERE TO BE FEWER COVID-RELATED BACKLOG SURGERIES
    * MAINTAINS A DIVIDEND POLICY THAT TARGETS A 70% PAYOUT OF
UNDERLYING NET PROFIT FOR FY24
    * CAPITAL EXPENDITURE IS EXPECTED TO BE A$70-90 MILLION FOR
FY24

Source text for Eikon:  ID:nASX9hB4Mw 
Further company coverage:  COH.AX 

 ((Reuters.Briefs@thomsonreuters.com;))