Cochlear's FY24 Financial Performance

Cochlear Limited (ASX: $COH) has released its preliminary final report for the year ending 30 June 2024. The report is based on the audited 30 June 2024 Annual Financial Statements, which have been audited by KPMG. The primary revenue reporting measure used by Cochlear for assessing revenue performance of the Consolidated Entity is sales revenue, excluding foreign exchange contract gains/losses on hedged sales. The net tangible assets are calculated as net assets less intangible assets.

Executive Commentary on FY24 Performance

We are pleased to announce the strong sales revenue achieved in the fiscal year 2024. Our focus on excluding one-off and non-recurring items has contributed to a robust financial performance. The net tangible assets have been carefully managed, reflecting our commitment to maintaining a healthy balance sheet. The Annual Financial Statements, audited by KPMG, provide a comprehensive overview of our financial position and performance for the year.

Summary of FY24 Report and Outlook

Cochlear's FY24 preliminary final report demonstrates a strong sales revenue performance and a focus on excluding one-off and non-recurring items. The audited financial statements by KPMG provide assurance of the company's financial position. Looking ahead, Cochlear aims to continue its commitment to financial prudence and sustainable growth, leveraging its strong revenue performance to drive further innovation and value creation for its stakeholders.