Italian hearing aid maker Amplifon lowered its full year guidance for recurring core profit on Monday, citing weaker than expected demand in Europe and global economic and political uncertainty. It now sees its recurring earnings before interest, depreciation and amortisation (EBITDA) at about 550 million euros ($582.34 million) for 2023, down from a previous forecast of between 570-585 million euros.

Amplifon’s recurring EBITDA stood at 109.8 million euros in the third quarter, marginally up from 109.4 million euros a year ago. “It should be noted that Amplifon operates around 25 points of sale in Israel which generate sales equal to approximately 1% of its consolidated revenues”, the group said with reference to the conflict in the region.