“We have a treasure chest of 200-250 million for possible acquisition operations. The problem is not our desire to grow externally, but rather the fact that the targets we are interested in, i.e. one of the six-seven most important groups in the world in the sector, do not currently seem interested in changing hands”. This was revealed to the Radiocor agency by the managing director of Amplifon, Franco Moscetti, specifying that, if necessary, the group would be ready for even more far-reaching operations, especially in markets such as the Netherlands and Germany, where the hearing aid company aims to further increase its market share.
" Germany, in particular, is a country in which we would like to increase our critical mass – explained the CEO – because this would further improve the ratio between fixed costs and profit margin. But the big groups are not on the market, even if we remain attentive. We will certainly continue to expand through micro-acquisitions, because the market is very fragmented with family-run companies and we are acquiring those that allow us to increase our penetration in areas not sufficiently reached at the moment".
If the acquisitions chapter does not develop, Amplifon "could decide to use the cash to reward shareholders - concluded Moscetti -, perhaps through buy-back operations or other". But, for the moment, these are only hypotheses.
Amplifon shares opened today in Piazza Affari by 0,25%, to 3,96 euros.
