Sonova shareholders approve all motions of the Board of Directors

Media Release

Stäfa (Switzerland), June 11, 2024 – Sonova Holding AG, a leading provider of hearing care solutions, announces the results of the 39th Annual General Meeting (AGM) held today. The shareholders approved all the proposals submitted by the Board of Directors. 385 shareholders personally attended the AGM in Zurich. In total, 68% of the share capital was represented.

The shareholders approved the Annual Report, the Annual Consolidated Financial Statements of the Group and the Annual Financial Statements of Sonova Holding AG for the 2023/24 financial year and authorized the proposed appropriation of retained earnings and a gross dividend of CHF 4.30 per registered share. This amounts to a payout of approximately CHF 256.3 million, corresponding to an adjusted payout ratio of 43%. Payment of the dividend is expected to take place from June 17, 2024.

The shareholders formally approved the discharge of the members of the Board of Directors and the Management Board for the 2023/24 financial year. All members of the Board of Directors stood for re-election and were confirmed individually for a further term of office. Gilbert Achermann was newly elected as an independent member of the Board of Directors. As part of its medium-term succession planning, the Board of Directors intends to nominate Gilbert Achermann at the 2025 AGM to succeed the current Chair, Robert Spoerry, who was also confirmed in office for another term. Roland Diggelmann (chair), Lukas Braunschweiler, Stacy Enxing Seng and Julie Tay were re-elected to the Nomination & Compensation Committee.

The report on non-financial matters and the compensation report for the 2023/24 financial year were accepted by the shareholders in a non-binding advisory vote. The Board of Directors acknowledges the low level of approval by the shareholders for the compensation report. In two separate binding votes, the shareholders approved the maximum aggregate amount of compensation of the Board of Directors covering the period from the AGM 2024 to the AGM 2025 and the maximum aggregate amount of compensation of the Management Board for the 2025/26 financial year.

Robert Spoerry, Chair of the Board of Directors of Sonova Holding AG, stated: “We acknowledge the concerns of our shareholders expressed in today’s advisory vote on the compensation report. We would like to emphasize that the points raised by our shareholders and the proxy advisors mainly related to the level of disclosure in the compensation report and did not concern the level of remuneration or the compensation system as such. The Nomination and Compensation Committee will carefully consider further improvements in the upcoming compensation report and we will engage with shareholders and proxy advisors during the upcoming financial year.”

Ernst & Young AG, Zurich, was re-elected as Auditor for a period of one year and the Law Office Keller AG, Zurich, was re-elected as the Independent Proxy.

The next AGM will be convened on June 10, 2025.

The minutes of the AGM 2024 (in German), which also include the detailed voting results, will soon be available on the Sonova website under the following link: https://www.sonova.com/en/AGM.
 

– End –

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 is a global leader in innovative hearing care solutions: from personal audio devices and wireless communication systems to audiological care services, hearing aids and cochlear implants. The Group was founded in 1947 and is headquartered in Stäfa, Switzerland.

Sonova operates through four businesses – Hearing Instruments, Audiological Care, Consumer Hearing and Cochlear Implants – and the core brands Phonak, Unitron, AudioNova, Sennheiser (under license) and Advanced Bionics as well as recognized regional brands. The Group’s globally diversified sales and distribution channels serve an ever growing consumer base in more than 100 countries.

In the 2023/24 financial year, the Group generated sales of CHF 3.6 billion, with a net profit of CHF 610 million. Over 18,000 employees are working on achieving Sonova’s vision of a world where everyone enjoys the delight of hearing.

For more information please visit www.sonova.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.